Civic Intelligence

Fort Madison Economic Development Corporation

990 • Fiscal year 2017 • EIN 42-1300666

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 12, 2018

Organization ProfileN/A
PO Box 277Fort Madison, IA 52627

(319) 372-5471

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

1st percentile

-505%

Higher net margin than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

17th percentile

-6.2%

Faster asset growth than 17% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

1st percentile

-81%

Faster revenue growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets14th percentile

Assets

Down

$3,882,928

Down $254,455 (-6.2%) from 2016

Net Assets

Down

$3,882,928

Down $254,455 (-6.2%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin1st percentile

Revenue

Down

$50,339

Down $221,145 (-81%) from 2016

Expenses

Down

$304,794

Down $190,450 (-38%) from 2016

Net Income

Down

-$254,455

Down $30,695 (-14%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $672,032Liabilities 2011: $0Net Assets 2011: $672,0322011Assets 2012: $777,974Liabilities 2012: $0Net Assets 2012: $777,9742012Assets 2013: $897,025Liabilities 2013: $0Net Assets 2013: $897,0252013Assets 2014: $3,320,057Liabilities 2014: $0Net Assets 2014: $3,320,0572014Assets 2015: $4,364,676Liabilities 2015: $3,533Net Assets 2015: $4,361,1432015Assets 2016: $4,137,383Liabilities 2016: $0Net Assets 2016: $4,137,3832016Assets 2017: $3,882,928Liabilities 2017: $0Net Assets 2017: $3,882,9282017Assets 2018: $513,869Liabilities 2018: $0Net Assets 2018: $513,8692018Assets 2019: $494,325Liabilities 2019: $0Net Assets 2019: $494,3252019Assets 2020: $521,816Liabilities 2020: $0Net Assets 2020: $521,8162020Assets 2021: $953,877Liabilities 2021: $0Net Assets 2021: $953,8772021Assets 2022: $535,681Liabilities 2022: $0Net Assets 2022: $535,6812022Assets 2023: $568,333Liabilities 2023: $0Net Assets 2023: $568,3332023Assets 2024: $608,292Liabilities 2024: $0Net Assets 2024: $608,2922024

Highlighted filing

2017

Assets$3,882,928
Liabilities$0
Net Assets$3,882,928
Open 2017 Filing

Operations Trend

Revenue Growth1st percentile

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

$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2011: $41,2652011Expenses 2012: $193,1292012Revenue 2013: $208,764Expenses 2013: $89,713Net Income 2013: $119,0512013Revenue 2014: $2,549,683Expenses 2014: $126,651Net Income 2014: $2,423,0322014Revenue 2015: $1,266,468Expenses 2015: $225,382Net Income 2015: $1,041,0862015Revenue 2016: $271,484Expenses 2016: $495,244Net Income 2016: -$223,7602016Revenue 2017: $50,339Expenses 2017: $304,794Net Income 2017: -$254,4552017Revenue 2018: $45,407Expenses 2018: $3,414,466Net Income 2018: -$3,369,0592018Revenue 2019: $44,267Expenses 2019: $63,811Net Income 2019: -$19,5442019Revenue 2020: $63,975Expenses 2020: $36,484Net Income 2020: $27,4912020Revenue 2021: $695,336Expenses 2021: $263,275Net Income 2021: $432,0612021Revenue 2022: $139,034Expenses 2022: $557,230Net Income 2022: -$418,1962022Revenue 2023: $57,327Expenses 2023: $24,675Net Income 2023: $32,6522023Revenue 2024: $65,423Expenses 2024: $25,464Net Income 2024: $39,9592024

Highlighted filing

2017

Revenue$50,339
Expenses$304,794
Net Income-$254,455
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 12, 2018
Return Version
2017v2.3
Gross Receipts
$51,021
Mission and Program Overview

Mission

Promotion of area enconomic development.

Promotion of area economic development

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,643,304$3,383,903▼ $259,401
Savings and Temporary Cash Investments$363,281$366,451▲ $3,170
Cash and Non-Interest-Bearing Accounts$126,460$127,417▲ $957
Accounts Receivable$4,010$4,500▲ $490
Prepaid Expenses and Deferred Charges$328$657▲ $329
Total Assets$4,137,383$3,882,928▼ $254,455
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$4,137,383$3,882,928▼ $254,455
Total Net Assets Fund Balance$4,137,383$3,882,928▼ $254,455
Total Liabilities and Net Assets / Fund Balance$4,137,383$3,882,928▼ $254,455

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$2,989,329$544,282$3,533,611
Land$324,964-$324,964
Equipment$69,610$40,208$109,818
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Matt MorrisChairman
Allan LuersDirector
Bryan LangerudDirector
Corey FraiseDirector
Dan FraiseDirector
Darrell AllmanDirector
David PolandDirector
Javier GuevaraDirector
Jeremy AlexanderDirector
Larry SmithDirector
Matt MorrisonDirector
Moudy NabulsiDirector
Steve MorleyDirector
Tim GobbleSecretary
Mike CulbertsonTreasurer
Bob HuffmanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$44,835
Program Service Revenue
$0
Investment Income
$3,663
Other Revenue
$1,841
All Other Contributions
$44,835
Change in Net Assets
$-254,455
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$277,103
Grants and Similar Amounts Paid$27,691
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$259,401--$259,401
Grants to Domestic Orgs$27,691--$27,691
Fees for Services Other-$5,000-$5,000
Fees for Services Accounting-$2,382-$2,382
Office Expenses$45--$45
Other Expenses$25--$25
Total Functional Expenses$297,412$7,382$0$304,794
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fort Madision Sports ComplexFort Madison, IA501(c)General Support$15,191
Port - City of Fort MadisonFort Madison, IAGovGeneral Support$12,500
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
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Fort Madison Economic Development
EIN
42-1300666
Phone
3193725471
Address
PO BOX 277, FORT MADISON, IA 52627

Signing Officer

Name
Tim Gobble
Title
Secretary
Phone
3193725471
Signed
2018-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tim Gobble
Formed
1987
Voting Board Members
15
Independent Board Members
15
Employees
0

Preparer

Firm
Menke & Company
Address
406 AVENUE E PO BOX 135, WEST POINT, IA 52656-0135
Preparer
Ann M Menke
Phone
3198376042
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IRS990ScheduleI/RecipientTable/CashGrantAmt112500
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,882,928
Liabilities
$0
Net assets
$3,882,928
Revenue
$50,339
Expenses
$304,794
Net income
-$254,455
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.61$0.00$0.61$0.07$0.03$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$0.06$0.02$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.54$0.00$0.54$0.14$0.56$0.42
2021Detailed filing. Detailed filing data is available for this year.$0.95$0.00$0.95$0.70$0.26$0.43
2020Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.06$0.04$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.49$0.00$0.49$0.04$0.06$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.51$0.00$0.51$0.05$3.41$3.37
2017Detailed filing. Detailed filing data is available for this year.$3.88$0.00$3.88$0.05$0.30$0.25
2016Detailed filing. Detailed filing data is available for this year.$4.14$0.00$4.14$0.27$0.50$0.22
2015Detailed filing. Detailed filing data is available for this year.$4.36$0.00$4.36$1.27$0.23$1.04
2014Detailed filing. Detailed filing data is available for this year.$3.32$0.00$3.32$2.55$0.13$2.42
2013Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$0.21$0.09$0.12
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$0.00$0.78$0.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.00$0.67$0.04