Civic Intelligence

Glenwood Area Economic Development Foundation Inc

990 • Fiscal year 2020 • EIN 42-1301658

Jan 01, 2020 to Dec 31, 2020 • Filed on Aug 19, 2021

402 Railroad AvenueGlenwood, IA 51534

(712) 302-7010

Siviq Scores

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

Liabilities / Assets

68th percentile

0.03x

Higher debt load relative to assets than 68% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

67th percentile

0.03x

Higher debt load relative to revenue than 67% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Net Margin

87th percentile

38%

Higher net margin than 87% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Top Officer Pay

86th percentile

$0

Higher top officer pay than 86% of similar nonprofits.

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

2020 filings • 501(c)4 • <$500k nonprofits • Source year 2020

Asset Growth

91st percentile

63%

Faster asset growth than 91% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

87th percentile

24%

Faster revenue growth than 87% of similar nonprofits.

2020 filings • 501(c)4 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$337,038

Up $130,320 (+63%) from 2019

Net Assets

Up

$326,985

Up $127,521 (+64%) from 2019

Liabilities

Up

$10,053

Up $2,799 (+39%) from 2019

Revenue

Up

$338,058

Up $64,905 (+24%) from 2019

Expenses

Down

$210,535

Down $23,473 (-10%) from 2019

Net Income

Up

$127,523

Up $88,378 (+226%) from 2019

Historical Trend

Balance Sheet Trend

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

$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

2020

Assets$337,038
Liabilities$10,053
Net Assets$326,985

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2020

Revenue$338,058
Expenses$210,535
Net Income$127,523
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Aug 19, 2021
Return Version
2020v4.0
Gross Receipts
$338,058
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
Savings and Temporary Cash Investments-$195,000-
Cash and Non-Interest-Bearing Accounts$206,667$142,038▼ $64,629
Prepaid Expenses and Deferred Charges$51--
Total Assets$206,718$337,038▲ $130,320
Liabilities
Accounts Payable and Accrued Expenses$7,256$10,053▲ $2,797
Total Liabilities$7,256$10,053▲ $2,797
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$199,462$326,985▲ $127,523
Total Net Assets Fund Balance$199,462$326,985▲ $127,523
Total Liabilities and Net Assets / Fund Balance$206,718$337,038▲ $130,320
Compensation and Service Providers

Board Members and Trustees

NameTitle
Alan DeboltPresident
Devin EmbrayPast Preside
Mark LincolnSecretary
Katelyn McgannTreasurer
Mark FordVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$338,053
Program Service Revenue
$0
Investment Income
$5
Other Revenue
$0
All Other Contributions
$100
Change in Net Assets
$127,523
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$142,317
Other Expenses$68,218
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$101,873-$101,873
Other Employee Benefits-$17,749-$17,749
Pension Plan Contributions-$14,272-$14,272
Information Technology$8,767$1,082-$9,849
Payroll Taxes-$8,423-$8,423
Insurance-$3,000-$3,000
Conferences and Meetings$2,878--$2,878
Advertising$2,081--$2,081
Fees for Services Accounting-$1,901-$1,901
Office Expenses$8$1,358-$1,366
Other Expenses$785$864-$785
All Other Expenses-$41-$41
Total Functional Expenses$59,972$150,563$0$210,535
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 9

Devin embray 103 central glenwood, ia 51534 larry winum 32 north walnut st glenwood, ia 51534 katelyn mcgann 404 main street malvern, ia 51551 mark lincoln 515 sharp street glenwood, ia 51534 dave blum 51115 243rd street glenwood, ia 51534 alan debolt 404 howland emerson, ia 51533 mark ford 902 s locust glenwood, ia 51534 mary gunderson 24 north walnut st glenwood , ia 51534 lonnie mayberry 12 n walnut street glenwood, ia 51534 richard crouch 418 sharp street glenwood, ia 51534 carol vinton 418 sharp street glenwood, ia 51534 al hughes 410 s locust street glenwood, ia 51534 chad mccollester 53469 275th street silver city, ia 51571 doug meggison 102 s locust street glenwood, ia 51534

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

Signing Officer

Name
Alan Debolt
Title
President
Phone
7123706500
Signed
2021-08-19

Organization Details

Principal Officer
Alan Debolt
Formed
1955
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
2

Preparer

Firm
New Era Tax & Accounting
Address
PO BOX 699, SIDNEY, IA 51652-0699
Preparer
Lisa Irvin
Phone
7123742003
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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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/ExplanationTxt2DEVIN EMBRAY 103 CENTRAL GLENWOOD, IA 51534 LARRY WINUM 32 NORTH WALNUT ST GLENWOOD, IA 51534 KATELYN MCGANN 404 MAIN STREET MALVERN, IA 51551 MARK LINCOLN 515 SHARP STREET GLENWOOD, IA 51534 DAVE BLUM 51115 243RD STREET GLENWOOD, IA 51534 ALAN DEBOLT 404 HOWLAND EMERSON, IA 51533 MARK FORD 902 S LOCUST GLENWOOD, IA 51534 MARY GUNDERSON 24 NORTH WALNUT ST GLENWOOD , IA 51534 LONNIE MAYBERRY 12 N WALNUT STREET GLENWOOD, IA 51534 RICHARD CROUCH 418 SHARP STREET GLENWOOD, IA 51534 CAROL VINTON 418 SHARP STREET GLENWOOD, IA 51534 AL HUGHES 410 S LOCUST STREET GLENWOOD, IA 51534 CHAD MCCOLLESTER 53469 275TH STREET SILVER CITY, IA 51571 DOUG MEGGISON 102 S LOCUST STREET GLENWOOD, IA 51534
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO DOCUMENTS AVAILABLE TO THE PUBLIC
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 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 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/TotalAssetsBOYAmt0206718
IRS990/TotalAssetsEOYAmt0337038
IRS990/TotalAssetsGrp/BOYAmt0206718
IRS990/TotalAssetsGrp/EOYAmt0337038
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0338053
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0150563
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt059972
IRS990/TotalFunctionalExpensesGrp/TotalAmt0210535
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07256
IRS990/TotalLiabilitiesEOYAmt010053
IRS990/TotalLiabilitiesGrp/BOYAmt07256
IRS990/TotalLiabilitiesGrp/EOYAmt010053
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0199462
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0326985
IRS990/TotalOtherProgSrvcExpenseAmt05768
IRS990/TotalProgramServiceExpensesAmt059972
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0338058
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0206718
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0337038
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0404 HOWLAND
IRS990/USAddress/CityNm0EMERSON
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051533
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.MILLSCOUNTYIOWA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAN DEBOLT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07123706500
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-08-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MILLS COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MILL
ReturnHeader/Filer/EIN0421301658
ReturnHeader/Filer/PhoneNum07123027010
ReturnHeader/Filer/USAddress/AddressLine1Txt0402 RAILROAD AVENUE
ReturnHeader/Filer/USAddress/CityNm0GLENWOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051534
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/PhoneNum07123742003
ReturnHeader/PreparerPersonGrp/PreparationDt02021-08-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LISA IRVIN
ReturnHeader/ReturnTs02021-08-19T10:44:31-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0DEBOLT
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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