Civic Intelligence

Fort Madison Economic Development Corporation

990 • Fiscal year 2018 • EIN 42-1300666

Jan 01, 2018 to Dec 31, 2018 • Filed on Jun 05, 2019

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

27th percentile

0.00x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

27th percentile

0.00x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

1st percentile

-7420%

Higher net margin than 1% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

1st percentile

-87%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

24th percentile

-9.8%

Faster revenue growth than 24% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$513,869

Down $3,369,059 (-87%) from 2017

Net Assets

Down

$513,869

Down $3,369,059 (-87%) from 2017

Liabilities

Flat

$0

Flat from 2017

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin1st percentile

Revenue

Down

$45,407

Down $4,932 (-9.8%) from 2017

Expenses

Up

$3,414,466

Up $3,109,672 (+1020%) from 2017

Net Income

Down

-$3,369,059

Down $3,114,604 (-1224%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth1st 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

2018

Assets$513,869
Liabilities$0
Net Assets$513,869
Open 2018 Filing

Operations Trend

Revenue Growth24th 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

2018

Revenue$45,407
Expenses$3,414,466
Net Income-$3,369,059
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jun 5, 2019
Return Version
2018v3.1
Gross Receipts
$46,071
Mission and Program Overview

Mission

Promotion of area enconomic development.

Promotion of area economic development

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$366,451$454,531▲ $88,080
Cash and Non-Interest-Bearing Accounts$127,417$46,448▼ $80,969
Accounts Receivable$4,500$5,375▲ $875
Land, Buildings, and Equipment, Net$3,383,903$4,964▼ $3,378,939
Prepaid Expenses and Deferred Charges$657$2,551▲ $1,894
Total Assets$3,882,928$513,869▼ $3,369,059
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$3,882,928$513,869▼ $3,369,059
Total Net Assets Fund Balance$3,882,928$513,869▼ $3,369,059
Total Liabilities and Net Assets / Fund Balance$3,882,928$513,869▼ $3,369,059

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,964-$4,964
Compensation and Service Providers
Top Officer Pay50th 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
$39,960
Program Service Revenue
$0
Investment Income
$6,111
Other Revenue
$-664
All Other Contributions
$39,960
Change in Net Assets
$-3,369,059
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,378,939
Other Expenses$35,527
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,378,939--$3,378,939
Insurance-$1,492-$1,492
Fees for Services Accounting-$600-$600
Other Expenses$18,000$179-$179
Office Expenses-$6-$6
Total Functional Expenses$3,396,939$17,527$0$3,414,466
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Fort Madision Sports ComplexFort Madison, IA501(c)General Support-
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
2019-06-05
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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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt05872
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt03207
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt08526
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt02321
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt026037
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99380
IRS990ScheduleA/PublicSupportPY170Pct00.99460
IRS990ScheduleA/PublicSupportTotal170Amt04179588
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt039960
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt044835
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0275173
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01272258
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02547362
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt04179588
IRS990ScheduleA/TotalSupportAmt04205625
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/LandGrp/BookValueAmt04964
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04964
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04964
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt03378939
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0SPORTS COMPLEX
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL SUPPORT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0FORT MADISION SPORTS COMPLEX
IRS990ScheduleI/RecipientTable/RecipientEIN0811733158
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0614 9TH STREET
IRS990ScheduleI/RecipientTable/USAddress/CityNm0FORT MADISON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd052627
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0BOOK
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03882928
IRS990/TotalAssetsEOYAmt0513869
IRS990/TotalAssetsGrp/BOYAmt03882928
IRS990/TotalAssetsGrp/EOYAmt0513869
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt039960
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017527
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt03396939
IRS990/TotalFunctionalExpensesGrp/TotalAmt03414466
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03882928
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0513869
IRS990/TotalProgramServiceExpensesAmt03396939
IRS990/TotalRevenueGrp/ExclusionAmt05447
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt045407
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03882928
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0513869
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt03882928
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0513869
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0614 9TH STREET
IRS990/USAddress/CityNm0FORT MADISON
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052627
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TIM GOBBLE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum03193725471
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-06-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FORT MADISON ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORP
ReturnHeader/Filer/BusinessNameControlTxt0FORT
ReturnHeader/Filer/EIN0421300666
ReturnHeader/Filer/PhoneNum03193725471
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 277
ReturnHeader/Filer/USAddress/CityNm0FORT MADISON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052627
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D327B347F721306D1FDFDB91F6AB18272CCC797E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0393F53C298D89725EB72E95BFD74EE82437411C6
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0192.119.236.34
ReturnHeader/FilingSecurityInformation/IPDt02019-06-11
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:19:53
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421363298
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MENKE & COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0406 AVENUE E PO BOX 135
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST POINT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0526560135
ReturnHeader/PreparerPersonGrp/PhoneNum03198376042
ReturnHeader/PreparerPersonGrp/PreparationDt02019-06-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANN M MENKE
ReturnHeader/ReturnTs02019-06-11T14:19:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$513,869
Liabilities
$0
Net assets
$513,869
Revenue
$45,407
Expenses
$3,414,466
Net income
-$3,369,059
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