Civic Intelligence

Spencer Main Street Company

EIN 42-1301066 • 501(c)3 • Spencer, IA

Profile

To enhance spencer's main street district as a business, professional, and cultural center in northwest iowa.

PO Box 7937Spencer, IA 51301

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.07x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

80th percentile

0.06x

Higher debt load relative to revenue than 80% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Net Margin

34th percentile

-6.6%

Higher net margin than 34% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2025

Top Officer Pay

94th percentile

$56,680

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 15.6% of source-year revenue.

501(c)3 • <$500k nonprofits • Source year 2025

Asset Growth

38th percentile

-12%

Faster asset growth than 38% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

94th percentile

156%

Faster revenue growth than 94% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2024 to 2025

Assets

Down

$289,869

Down $41,225 (-12%) from 2024

Liabilities

Down

$21,563

Down $17,298 (-45%) from 2024

Net Assets

Down

$268,306

Down $23,927 (-8.2%) from 2024

Revenue

Up

$363,357

Up $221,590 (+156%) from 2024

Expenses

Up

$387,284

Up $227,046 (+142%) from 2024

Net Income

Down

-$23,927

Down $5,456 (-30%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2011: $77,980Liabilities 2011: $342Net Assets 2011: $77,6382011Assets 2012: $91,529Liabilities 2012: $540Net Assets 2012: $90,9892012Assets 2013: $103,976Liabilities 2013: $336Net Assets 2013: $103,6402013Assets 2014: $132,993Liabilities 2014: $845Net Assets 2014: $132,1482014Assets 2015: $123,584Liabilities 2015: $911Net Assets 2015: $122,6732015Assets 2016: $160,482Liabilities 2016: $7Net Assets 2016: $160,4752016Assets 2017: $140,731Net Assets 2017: $140,7312017Assets 2018: $115,685Liabilities 2018: $1,125Net Assets 2018: $114,5602018Assets 2019: $227,438Liabilities 2019: $2,991Net Assets 2019: $224,4472019Assets 2020: $400,950Liabilities 2020: $42,584Net Assets 2020: $358,3662020Assets 2021: $535,016Liabilities 2021: $83,329Net Assets 2021: $451,6872021Assets 2022: $575,741Liabilities 2022: $68,351Net Assets 2022: $507,3902022Assets 2023: $364,505Liabilities 2023: $53,801Net Assets 2023: $310,7042023Assets 2024: $331,094Liabilities 2024: $38,861Net Assets 2024: $292,2332024Assets 2025: $289,869Liabilities 2025: $21,563Net Assets 2025: $268,3062025

Highlighted filing

2025

Assets$289,869
Liabilities$21,563
Net Assets$268,306

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200KRevenue 2011: $102,530Expenses 2011: $72,397Net Income 2011: $30,1332011Revenue 2012: $91,681Expenses 2012: $78,330Net Income 2012: $13,3512012Revenue 2013: $94,643Expenses 2013: $81,992Net Income 2013: $12,6512013Revenue 2014: $102,922Expenses 2014: $74,417Net Income 2014: $28,5052014Revenue 2015: $69,645Expenses 2015: $79,118Net Income 2015: -$9,4732015Revenue 2016: $111,070Expenses 2016: $73,268Net Income 2016: $37,8022016Revenue 2017: $57,107Expenses 2017: $76,851Net Income 2017: -$19,7442017Revenue 2018: $31,396Expenses 2018: $57,567Net Income 2018: -$26,1712018Revenue 2019: $182,990Expenses 2019: $73,104Net Income 2019: $109,8862019Revenue 2020: $212,021Expenses 2020: $78,102Net Income 2020: $133,9192020Revenue 2021: $203,334Expenses 2021: $110,013Net Income 2021: $93,3212021Revenue 2022: $170,370Expenses 2022: $114,667Net Income 2022: $55,7032022Revenue 2023: $140,941Expenses 2023: $314,093Net Income 2023: -$173,1522023Revenue 2024: $141,767Expenses 2024: $160,238Net Income 2024: -$18,4712024Revenue 2025: $363,357Expenses 2025: $387,284Net Income 2025: -$23,9272025

Highlighted filing

2025

Revenue$363,357
Expenses$387,284
Net Income-$23,927

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.90$0.22$2.68$3.63$3.87$0.24
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.31$0.39$2.92$1.42$1.60$0.18
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.65$0.54$3.11$1.41$3.14$1.73
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.76$0.68$5.07$1.70$1.15$0.56
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.35$0.83$4.52$2.03$1.10$0.93
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.01$0.43$3.58$2.12$0.78$1.34
2019Detailed filing. Detailed filing data is available for this year.$2.27$0.03$2.24$1.83$0.73$1.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.16$0.01$1.15$0.31$0.58$0.26
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.41$1.41$0.57$0.77$0.20
2016Detailed filing. Detailed filing data is available for this year.$1.60$0.00$1.60$1.11$0.73$0.38
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.24$0.01$1.23$0.70$0.79$0.09
2014Detailed filing. Detailed filing data is available for this year.$1.33$0.01$1.32$1.03$0.74$0.29
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.00$1.04$0.95$0.82$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.92$0.01$0.91$0.92$0.78$0.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.78$0.00$0.78$1.03$0.72$0.30
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Apr 1, 2024 to Mar 31, 2025
Signed
Jul 30, 2025
Return Version
2024v5.0
Gross Receipts
$376,269
Mission and Program Overview

Mission

To enhance spencer's main street district as a business, professional, and cultural center in northwest iowa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$185,621$164,762▼ $20,859
Savings and Temporary Cash Investments$120,249$101,239▼ $19,010
Cash and Non-Interest-Bearing Accounts$25,224$23,868▼ $1,356
Total Assets$331,094$289,869▼ $41,225
Liabilities
Other Liabilities$38,861$21,563▼ $17,298
Total Liabilities$38,861$21,563▼ $17,298
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$292,233$268,306▼ $23,927
Total Net Assets Fund Balance$292,233$268,306▼ $23,927
Total Liabilities and Net Assets / Fund Balance$331,094$289,869▼ $41,225

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$164,762$118,640$283,402
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Nancy NaeveDirectorFT$56,680$56,680

Board Members and Trustees

NameTitle
Eric MeeterPresident
Amalie SaboeBoard Member
Dustin GrossnickleBoard Member
Katie TechenBoard Member
Sally MeyersBoard Member
Scott ConradBoard Member
Nick ApplegatePast Preside
Jen Von EhwegenSecretary
Ebony RaheTreasurer
Brianna DeanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$244,027
Program Service Revenue
$113,590
Investment Income
$2,245
Other Revenue
$3,495
All Other Contributions
$224,027
Change in Net Assets
$-23,927
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$223,758
Other Expenses$95,016
Salaries, Compensation, and Employee Benefits$68,510
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$223,758--$223,758
Current Officers, Directors, Trustees, and Key Employees-$56,680-$56,680
Depreciation Depletion$20,858--$20,858
Other Employee Benefits-$7,494-$7,494
Fees for Services Accounting-$4,400-$4,400
Payroll Taxes-$4,336-$4,336
Insurance-$3,960-$3,960
Conferences and Meetings$3,895--$3,895
Office Expenses-$2,949-$2,949
Other Expenses$1,237--$1,237
All Other Expenses$921--$921
Total Functional Expenses$307,465$79,819$0$387,284
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
1103 IndustriesSpencer, IA-Economic Development$100,000
HANSEN'S CLOTHINGSpencer, IA-Economic Development$100,000
Medlar CoffeeSpencer, IA-Economic Development$10,000
Kolj (made & More)Spencer, IA-Economic Development$7,758
Design MastersSpencer, IA-Economic Development$6,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$14,016
Fundraising Direct Expenses$12,912
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Note Payable - City Light Project$21,563
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
Yes
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, Page 6, Part VI, Line 11B

Form 990 is completed and reviewed with the executive director before it is filed. A copy of form 990 is provided to the governing board.

Form 990, Page 6, Part VI, Line 12C

Lines 12-14 the failure to have such policies in place at this time should not jeopardize the organization's tax exempt status. The organization has taken steps in calender year 2025 to implement such policies and anticipates adoption of such in the upcoming year.

Form 990, Page 6, Part VI, Line 15A

The board of directors reviews the executive directors performance and compensation on an annual basis.

Form 990, Page 6, Part VI, Line 19

Documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Spencer Main Street Company
EIN
42-1301066
Phone
7122627246
Address
PO BOX 7937, SPENCER, IA 51301

Signing Officer

Name
Nancy Naeve
Title
Director
Phone
7122627246
Signed
2025-07-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Meeter
Formed
1987
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
1
Volunteers
30

Preparer

Firm
Williams & Company CPA Pc
Address
PO BOX 908, SPENCER, IA 51301
Preparer
Ebony L Rahe CPA
Phone
7122621500
Raw XML AppendixShowing 400 of 441 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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IRS990/PrincipalOfficerNm0ERIC MEETER
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IRS990/ReconcilationRevenueExpnssAmt0-23927
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0113590
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0120249
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0101239
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0244027
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt021500
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt041759
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt077161
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0125462
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02388
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0952
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt0133
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0344
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt06062
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0600506
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTE PAYABLE - CITY LIGHT PROJECT
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IRS990ScheduleI/RecipientTable/CashGrantAmt26000
IRS990ScheduleI/RecipientTable/CashGrantAmt3100000
IRS990ScheduleI/RecipientTable/CashGrantAmt4100000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3ECONOMIC DEVELOPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt4ECONOMIC DEVELOPMENT
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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2DESIGN MASTERS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3HANSEN'S CLOTHING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt41103 INDUSTRIES
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt3519 GRAND AVE
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IRS990ScheduleI/RecipientTable/USAddress/CityNm4SPENCER
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 IS COMPLETED AND REVIEWED WITH THE EXECUTIVE DIRECTOR BEFORE IT IS FILED. A COPY OF FORM 990 IS PROVIDED TO THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1LINES 12-14 THE FAILURE TO HAVE SUCH POLICIES IN PLACE AT THIS TIME SHOULD NOT JEOPARDIZE THE ORGANIZATION'S TAX EXEMPT STATUS. THE ORGANIZATION HAS TAKEN STEPS IN CALENDER YEAR 2025 TO IMPLEMENT SUCH POLICIES AND ANTICIPATES ADOPTION OF SUCH IN THE UPCOMING YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS THE EXECUTIVE DIRECTORS PERFORMANCE AND COMPENSATION ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalProgramServiceRevenueAmt0113590
IRS990/TotalReportableCompFromOrgAmt056680
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IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0331094
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