Civic Intelligence

Mills County Economic Development

EIN 42-1301658 • 501(c)4 • Glenwood, IA

Profile

The mills county economic development foundation, inc. (mcedf) will conduct its activities to promote the purposes for which it was organized as set forth in the articles of incorporation. The organization will be under the guidance of the mills county board of supervisors (mcbos). Additionally, the purpose of the foundation is to effectively advance a focused economic development growth agenda to enhance, position and market mills county as a preferred business location. Our goal is to advance the interest of mills county and improve business climate and economic conditions. Our agenda for growth will lead to the retention and expansion of existing firms, the attraction and startup of high value firms and long term growth and vitality of the county. This will be accomplished in collaboration and cooperation with our public and private partners within the county, region, and state. No part of the net earnings of the foundation shall inure to the benefit of or be distributable to its di

403 Railroad AvenueGlenwood, IA 51534

www.millscountyiowa.com

Siviq Scores

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

Liabilities / Assets

40th percentile

0.00x

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

501(c)4 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

41st percentile

0.00x

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

501(c)4 • $500k-$1M nonprofits • Source year 2024

Net Margin

67th percentile

19%

Higher net margin than 67% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

66th percentile

9.0%

Faster asset growth than 66% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

10th percentile

-28%

Faster revenue growth than 10% of similar nonprofits.

501(c)4 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$501,708

Up $41,608 (+9.0%) from 2023

Liabilities

Flat

$0

Flat from 2023

Net Assets

Up

$501,708

Up $41,608 (+9.0%) from 2023

Revenue

Down

$220,799

Down $84,807 (-28%) from 2023

Expenses

Down

$179,191

Down $85,986 (-32%) from 2023

Net Income

Up

$41,608

Up $1,179 (+2.9%) from 2023

Trend Graphs

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2018: $169,334Liabilities 2018: $9,015Net Assets 2018: $160,3192018Assets 2019: $206,718Liabilities 2019: $7,254Net Assets 2019: $199,4642019Assets 2020: $337,038Liabilities 2020: $10,053Net Assets 2020: $326,9852020Assets 2021: $384,356Liabilities 2021: $12,390Net Assets 2021: $371,9662021Assets 2022: $423,652Liabilities 2022: $3,981Net Assets 2022: $419,6712022Assets 2023: $460,100Liabilities 2023: $0Net Assets 2023: $460,1002023Assets 2024: $501,708Liabilities 2024: $0Net Assets 2024: $501,7082024

Highlighted filing

2024

Assets$501,708
Liabilities$0
Net Assets$501,708

Operations Trend

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

$600K$400K$200K$0Revenue 2018: $440,758Expenses 2018: $385,552Net Income 2018: $55,2062018Revenue 2019: $273,153Expenses 2019: $234,008Net Income 2019: $39,1452019Revenue 2020: $338,058Expenses 2020: $210,535Net Income 2020: $127,5232020Revenue 2021: $289,349Expenses 2021: $244,368Net Income 2021: $44,9812021Revenue 2022: $228,822Expenses 2022: $181,117Net Income 2022: $47,7052022Revenue 2023: $305,606Expenses 2023: $265,177Net Income 2023: $40,4292023Revenue 2024: $220,799Expenses 2024: $179,191Net Income 2024: $41,6082024

Highlighted filing

2024

Revenue$220,799
Expenses$179,191
Net Income$41,608

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 22, 2025
Return Version
2024v5.0
Gross Receipts
$220,799
Mission and Program Overview

Mission

The mills county economic development foundation, inc. (mcedf) will conduct its activities to promote the purposes for which it was organized as set forth in the articles of incorporation. The organization will be under the guidance of the mills county board of supervisors (mcbos). Additionally, the purpose of the foundation is to effectively advance a focused economic development growth agenda to enhance, position and market mills county as a preferred business location. Our goal is to advance the interest of mills county and improve business climate and economic conditions. Our agenda for growth will lead to the retention and expansion of existing firms, the attraction and startup of high value firms and long term growth and vitality of the county. This will be accomplished in collaboration and cooperation with our public and private partners within the county, region, and state. No part of the net earnings of the foundation shall inure to the benefit of or be distributable to its di

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$264,775$306,285▲ $41,510
Savings and Temporary Cash Investments$195,325$195,423▲ $98
Total Assets$460,100$501,708▲ $41,608
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$460,100$501,708▲ $41,608
Total Net Assets Fund Balance$460,100$501,708▲ $41,608
Total Liabilities and Net Assets / Fund Balance$460,100$501,708▲ $41,608
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jon LorsonPresident
Al HughesDirector
Alan DeboltDirector
Jodi EvansDirector
Jon CarloDirector
Katelyn McgannDirector
Kattie LewisDirector
Mark LincolnDirector
Mark MossmanDirector
Mary FordDirector
Nicole KooikerDirector
Will LonginakerDirector
Sandi WintonSecretary
Larry WinumTreasurer
Jodi HilsabeckVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$220,000
Program Service Revenue
$0
Investment Income
$799
Other Revenue
$0
All Other Contributions
$5,000
Change in Net Assets
$41,608
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$108,457
Other Expenses$70,734
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$94,904-$94,904
Fees for Services Management-$13,252-$13,252
Payroll Taxes-$7,302-$7,302
Pension Plan Contributions-$5,694-$5,694
Fees for Services Accounting$17$3,389-$3,406
Advertising$3,089--$3,089
Occupancy-$2,400-$2,400
Office Expenses-$2,306-$2,306
Other Expenses$1,996--$1,996
Fees for Services Legal$1,950--$1,950
Insurance-$1,804-$1,804
Information Technology$824--$824
Other Employee Benefits-$557-$557
Conferences and Meetings$280--$280
Payment Travel Entrtnmnt Publicly Ofcl-$248-$248
Total Functional Expenses$47,335$131,856$0$179,191
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
Subject to proxy tax
No
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
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, Page 6, Part VI, Line 11B

Financials are sent to a third party accountant to prepare tax return. Once prepared, return is sent to board of directors for further review before being filed with the irs.

Form 990, Page 6, Part VI, Line 19

Governing documents available upon request

Filing and Contact Details

Filer

Filer Name
Mills County Economic Development
EIN
42-1301658
Phone
7123027010
Address
403 RAILROAD AVENUE, GLENWOOD, IA 51534

Signing Officer

Name
Jon Lorson
Title
President
Phone
7123706500
Signed
2025-09-22

Organization Details

Principal Officer
Jon Lorson
Formed
1955
Legal Domicile
Ia
Voting Board Members
15
Independent Board Members
15
Employees
1

Preparer

Firm
New Era Tax & Accounting
Address
PO BOX 699, SIDNEY, IA 51652-0699
Preparer
Cooper Talich
Phone
7123029009
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mills county economic development foundation, inc. (mcedf) will conduct its activities to promote the purposes for which it was organized as set forth in the articles of incorporation. The organization will be under the guidance of the mills county board of supervisors (mcbos). Additionally, the purpose of the foundation is to effectively advance a focused economic development growth agenda to enhance, position and market mills county as a preferred business location. Our goal is to advance the interest of mills county and improve business climate and economic conditions. Our agenda for growth will lead to the retention and expansion of existing firms, the attraction and startup of high value firms and long term growth and vitality of the county. This will be accomplished in collaboration and cooperation with our public and private partners within the county, region, and state. No part of the net earnings of the foundation shall inure to the benefit of or be distributable to its directors, officers or other private persons, except that the foundation shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes and objects set forth in the articles of incorporation.

Form 990, Page 2, Part III, Line 4D

Continuously build education and relationships with prospects, site selectors, utility partners and other professionals in the economic development industry.

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IRS990/ProgSrvcAccomActy3Grp/Desc0OBTAIN SITE OPTIONS AND COMPLETE DUE DILIGENCE TO WORK TOWARDS SHOVEL READY DEVELOPMENT SITES.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt01950
IRS990/ProgSrvcAccomActyOtherGrp/Desc0CONTINUOUSLY BUILD EDUCATION AND RELATIONSHIPS WITH PROSPECTS, SITE SELECTORS, UTILITY PARTNERS AND OTHER PROFESSIONALS IN THE ECONOMIC DEVELOPMENT INDUSTRY.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt03386
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0305000
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0606
IRS990/PymtTravelEntrtnmntPubOfclGrp/ManagementAndGeneralAmt0248
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt0248
IRS990/PYOtherExpensesAmt0126122
IRS990/PYRevenuesLessExpensesAmt040429
IRS990/PYSalariesCompEmpBnftPaidAmt0139055
IRS990/PYTotalExpensesAmt0265177
IRS990/PYTotalRevenueAmt0305606
IRS990/ReconcilationRevenueExpnssAmt041608
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0195325
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0195423
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MILLS COUNTY ECONOMIC DEVELOPMENT FOUNDATION, INC. (MCEDF) WILL CONDUCT ITS ACTIVITIES TO PROMOTE THE PURPOSES FOR WHICH IT WAS ORGANIZED AS SET FORTH IN THE ARTICLES OF INCORPORATION. THE ORGANIZATION WILL BE UNDER THE GUIDANCE OF THE MILLS COUNTY BOARD OF SUPERVISORS (MCBOS). ADDITIONALLY, THE PURPOSE OF THE FOUNDATION IS TO EFFECTIVELY ADVANCE A FOCUSED ECONOMIC DEVELOPMENT GROWTH AGENDA TO ENHANCE, POSITION AND MARKET MILLS COUNTY AS A PREFERRED BUSINESS LOCATION. OUR GOAL IS TO ADVANCE THE INTEREST OF MILLS COUNTY AND IMPROVE BUSINESS CLIMATE AND ECONOMIC CONDITIONS. OUR AGENDA FOR GROWTH WILL LEAD TO THE RETENTION AND EXPANSION OF EXISTING FIRMS, THE ATTRACTION AND STARTUP OF HIGH VALUE FIRMS AND LONG TERM GROWTH AND VITALITY OF THE COUNTY. THIS WILL BE ACCOMPLISHED IN COLLABORATION AND COOPERATION WITH OUR PUBLIC AND PRIVATE PARTNERS WITHIN THE COUNTY, REGION, AND STATE. NO PART OF THE NET EARNINGS OF THE FOUNDATION SHALL INURE TO THE BENEFIT OF OR BE DISTRIBUTABLE TO ITS DIRECTORS, OFFICERS OR OTHER PRIVATE PERSONS, EXCEPT THAT THE FOUNDATION SHALL BE AUTHORIZED AND EMPOWERED TO PAY REASONABLE COMPENSATION FOR SERVICES RENDERED AND TO MAKE PAYMENTS AND DISTRIBUTIONS IN FURTHERANCE OF THE PURPOSES AND OBJECTS SET FORTH IN THE ARTICLES OF INCORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONTINUOUSLY BUILD EDUCATION AND RELATIONSHIPS WITH PROSPECTS, SITE SELECTORS, UTILITY PARTNERS AND OTHER PROFESSIONALS IN THE ECONOMIC DEVELOPMENT INDUSTRY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FINANCIALS ARE SENT TO A THIRD PARTY ACCOUNTANT TO PREPARE TAX RETURN. ONCE PREPARED, RETURN IS SENT TO BOARD OF DIRECTORS FOR FURTHER REVIEW BEFORE BEING FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0460100
IRS990/TotalAssetsEOYAmt0501708
IRS990/TotalAssetsGrp/BOYAmt0460100
IRS990/TotalAssetsGrp/EOYAmt0501708
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0220000
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0131856
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt047335
IRS990/TotalFunctionalExpensesGrp/TotalAmt0179191
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0460100
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0501708
IRS990/TotalOtherProgSrvcExpenseAmt03386
IRS990/TotalProgramServiceExpensesAmt047335
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0799
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0220799
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0460100
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0501708
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0104 MAIN STREET
IRS990/USAddress/CityNm0RANDOLPH
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051649
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0WWW.MILLSCOUNTYIOWA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JON LORSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07123706500
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-09-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MILLS COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MILL
ReturnHeader/Filer/EIN0421301658
ReturnHeader/Filer/PhoneNum07123027010
ReturnHeader/Filer/USAddress/AddressLine1Txt0403 RAILROAD AVENUE
ReturnHeader/Filer/USAddress/CityNm0GLENWOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051534
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0463793521
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NEW ERA TAX & ACCOUNTING
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 699
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SIDNEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0516520699
ReturnHeader/PreparerPersonGrp/PhoneNum07123029009
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0COOPER TALICH
ReturnHeader/ReturnTs02025-10-03T16:32:15-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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