Civic Intelligence

Waverly Area Development Fund

990 • Fiscal year 2021 • EIN 42-1263254

Jan 01, 2021 to Dec 31, 2021 • Filed on Jul 13, 2022

Organization ProfileN/A

Refreshing map…

118 E Bremer AvenueWaverly, IA 50677

(319) 352-4526

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.10x

Higher debt load relative to assets than 55% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

97th percentile

6.08x

Higher debt load relative to revenue than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

1st percentile

-539%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

9th percentile

-8.6%

Faster asset growth than 9% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

13th percentile

-21%

Faster revenue growth than 13% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets55th percentile

Assets

Down

$1,052,018

Down $98,594 (-8.6%) from 2020

Net Assets

Down

$951,533

Down $89,081 (-8.6%) from 2020

Liabilities

Down

$100,485

Down $9,513 (-8.6%) from 2020

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin1st percentile

Revenue

Down

$16,529

Down $4,378 (-21%) from 2020

Expenses

Up

$105,689

Up $79,117 (+298%) from 2020

Net Income

Down

-$89,160

Down $83,495 (-1474%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2011: $1,192,176Liabilities 2011: $191,482Net Assets 2011: $1,000,6942011Assets 2012: $1,201,198Liabilities 2012: $182,785Net Assets 2012: $1,018,4132012Assets 2013: $1,208,152Liabilities 2013: $174,000Net Assets 2013: $1,034,1522013Assets 2014: $1,166,904Liabilities 2014: $165,127Net Assets 2014: $1,001,7772014Assets 2015: $1,168,611Liabilities 2015: $156,166Net Assets 2015: $1,012,4452015Assets 2016: $1,161,864Liabilities 2016: $147,115Net Assets 2016: $1,014,7492016Assets 2017: $1,163,195Liabilities 2017: $137,974Net Assets 2017: $1,025,2212017Assets 2018: $1,164,011Liabilities 2018: $128,743Net Assets 2018: $1,035,2682018Assets 2019: $1,165,695Liabilities 2019: $119,416Net Assets 2019: $1,046,2792019Assets 2020: $1,150,612Liabilities 2020: $109,998Net Assets 2020: $1,040,6142020Assets 2021: $1,052,018Liabilities 2021: $100,485Net Assets 2021: $951,5332021Assets 2022: $960,925Liabilities 2022: $0Net Assets 2022: $960,9252022Assets 2023: $978,381Liabilities 2023: $0Net Assets 2023: $978,3812023Assets 2024: $990,023Liabilities 2024: $0Net Assets 2024: $990,0232024

Highlighted filing

2021

Assets$1,052,018
Liabilities$100,485
Net Assets$951,533
Open 2021 Filing

Operations Trend

Revenue Growth13th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150K$100K$50K$0-$50K-$100KRevenue 2011: $40,471Expenses 2011: $5,034Net Income 2011: $35,4372011Revenue 2012: $26,606Expenses 2012: $8,887Net Income 2012: $17,7192012Revenue 2013: $24,130Expenses 2013: $8,391Net Income 2013: $15,7392013Revenue 2014: $21,840Expenses 2014: $28,215Net Income 2014: -$6,3752014Revenue 2015: $17,255Expenses 2015: $6,587Net Income 2015: $10,6682015Revenue 2016: $17,073Expenses 2016: $14,769Net Income 2016: $2,3042016Revenue 2017: $16,034Expenses 2017: $5,562Net Income 2017: $10,4722017Revenue 2018: $15,756Expenses 2018: $5,709Net Income 2018: $10,0472018Revenue 2019: $16,895Expenses 2019: $5,884Net Income 2019: $11,0112019Revenue 2020: $20,907Expenses 2020: $26,572Net Income 2020: -$5,6652020Revenue 2021: $16,529Expenses 2021: $105,689Net Income 2021: -$89,1602021Revenue 2022: $14,906Expenses 2022: $6,150Net Income 2022: $8,7562022Revenue 2023: $17,987Expenses 2023: $531Net Income 2023: $17,4562023Revenue 2024: $16,957Expenses 2024: $5,315Net Income 2024: $11,6422024

Highlighted filing

2021

Revenue$16,529
Expenses$105,689
Net Income-$89,160
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jul 13, 2022
Return Version
2021v4.2
Gross Receipts
$16,529
Mission and Program Overview

Mission

Community economic development and low interest loans.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$419,075$542,655▲ $123,580
Other Notes and Loans Receivable, Net$702,443$509,363▼ $193,080
Cash and Non-Interest-Bearing Accounts$29,094--
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$1,150,612$1,052,018▼ $98,594
Liabilities
Mortgage Notes Payable Secured by Investment Property$109,998$100,485▼ $9,513
Total Liabilities$109,998$100,485▼ $9,513
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,040,614$951,533▼ $89,081
Total Net Assets Fund Balance$1,040,614$951,533▼ $89,081
Total Liabilities and Net Assets / Fund Balance$1,150,612$1,052,018▼ $98,594

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$25,988$25,988
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
David HuberPresident
Levi EpleyVice President
Dan WedemeierMember
Darrel WenzelMember
Ken KammeyerMember
Luke KnutsonMember
Marv SchumacherMember
Tom GrieseMember
Connie TolanSecretary
Travis ToliverTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$15,014
Investment Income
$1,515
Other Revenue
$0
Change in Net Assets
$-89,160

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,529
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$307
Total Revenue per Audited Statements
$16,836
Total Revenue per Form 990
$16,529
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$105,689
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting$4,375--$4,375
Interest$1,100--$1,100
Office Expenses$163--$163
Other Expenses$51--$51
Total Functional Expenses$105,689$0$0$105,689

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$105,689
Expenses per Audited Statements$105,624
Total Expenses per Audited Statements$105,624
Expenses Not Reported on Financial Statements$65
Other Expense Adjustments$65
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

“The documents are available upon request at the organization's office.”

Form 990, Part VI, Section C, line 19

“The treasurer reviews the form 990.”

Filing and Contact Details

Filer

Filer Name
Waverly Area Development Fund
EIN
42-1263254
Phone
3193524526
Address
118 E BREMER AVENUE, WAVERLY, IA 50677

Signing Officer

Name
Travis Toliver
Title
Treasurer
Phone
3193524526
Signed
2022-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Travis Toliver
Formed
2001
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
Keith Oltrogge CPA PC
Address
201 E Main St, Denver, IA 50622-0310
Preparer
Keith Oltrogge CPA PC
Phone
3199845292
Supplemental Narrative

Financial Statement Notes

Part XI, Line 2D - Other Adjustments:

“CASH BASIS ADJUSTMENT”

Part XII, Line 4B - Other Adjustments:

“CASH BASIS ADJUSTMENT”

Part XI, Line 2D and Part XII, Line 4B

“Both are cash basis adjustments.”

Raw XML Appendix387 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt016034
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt086121
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt025988
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt025988
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt065
IRS990ScheduleD/ExpensesSubtotalAmt0105624
IRS990ScheduleD/OtherExpensesNotIncludedAmt065
IRS990ScheduleD/OtherRevenueAmt0307
IRS990ScheduleD/RevenueNotReportedAmt0307
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt016529
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0CASH BASIS ADJUSTMENT
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CASH BASIS ADJUSTMENT
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2BOTH ARE CASH BASIS ADJUSTMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XI, Line 2d - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XII, Line 4b - Other Adjustments:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XI, LINE 2D AND PART XII, LINE 4B
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0105689
IRS990ScheduleD/TotalRevenuePerForm990Amt016529
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt016836
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0105624
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE TREASURER REVIEWS THE FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, line 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01150612
IRS990/TotalAssetsEOYAmt01052018
IRS990/TotalAssetsGrp/BOYAmt01150612
IRS990/TotalAssetsGrp/EOYAmt01052018
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0105689
IRS990/TotalFunctionalExpensesGrp/TotalAmt0105689
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0109998
IRS990/TotalLiabilitiesEOYAmt0100485
IRS990/TotalLiabilitiesGrp/BOYAmt0109998
IRS990/TotalLiabilitiesGrp/EOYAmt0100485
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01040614
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0951533
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0105689
IRS990/TotalProgramServiceRevenueAmt015014
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt01515
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt015014
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt016529
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01150612
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01052018
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0118 E BREMER AVENUE
IRS990/USAddress/CityNm0WAVERLY
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050677
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TRAVIS TOLIVER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03193524526
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-07-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WAVERLY AREA DEVELOPMENT FUND
ReturnHeader/Filer/BusinessNameControlTxt0WAVE
ReturnHeader/Filer/EIN0421263254
ReturnHeader/Filer/PhoneNum03193524526
ReturnHeader/Filer/USAddress/AddressLine1Txt0118 E BREMER AVENUE
ReturnHeader/Filer/USAddress/CityNm0WAVERLY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050677
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0010852927
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Keith Oltrogge CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0201 E Main St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Denver
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0506220310
ReturnHeader/PreparerPersonGrp/PhoneNum03199845292
ReturnHeader/PreparerPersonGrp/PreparationDt02022-07-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Keith Oltrogge CPA PC
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02022-09-08T15:04:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TRAVIS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0TOLIVER
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,052,018
Liabilities
$100,485
Net assets
$951,533
Revenue
$16,529
Expenses
$105,689
Net income
-$89,160
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.99$0.00$0.99$0.02$0.01$0.01
2023Summary only. Only limited summary data is available for this year.$0.98$0.00$0.98$0.02$0.00$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.96$0.00$0.96$0.01$0.01$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.05$0.10$0.95$0.02$0.11$0.09
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.15$0.11$1.04$0.02$0.03$0.01
2019Summary only. Only limited summary data is available for this year.$1.17$0.12$1.05$0.02$0.01$0.01
2018Summary only. Only limited summary data is available for this year.$1.16$0.13$1.04$0.02$0.01$0.01
2017Summary only. Only limited summary data is available for this year.$1.16$0.14$1.03$0.02$0.01$0.01
2016Summary only. Only limited summary data is available for this year.$1.16$0.15$1.01$0.02$0.01$0.00
2015Summary only. Only limited summary data is available for this year.$1.17$0.16$1.01$0.02$0.01$0.01
2014Summary only. Only limited summary data is available for this year.$1.17$0.17$1.00$0.02$0.03$0.01
2013Summary only. Only limited summary data is available for this year.$1.21$0.17$1.03$0.02$0.01$0.02
2012Summary only. Only limited summary data is available for this year.$1.20$0.18$1.02$0.03$0.01$0.02
2011Summary only. Only limited summary data is available for this year.$1.19$0.19$1.00$0.04$0.01$0.04