Civic Intelligence

Glenwood Area Economic Development Foundation Inc

990 • Fiscal year 2019 • EIN 42-1301658

Jan 01, 2019 to Dec 31, 2019 • 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

70th percentile

0.04x

Higher debt load relative to assets than 70% of similar nonprofits.

2019 filings • 501(c)4 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

69th percentile

0.03x

Higher debt load relative to revenue than 69% of similar nonprofits.

2019 filings • 501(c)4 • <$500k nonprofits • Source year 2019

Net Margin

72nd percentile

14%

Higher net margin than 72% of similar nonprofits.

2019 filings • 501(c)4 • <$500k nonprofits • Source year 2019

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.

2019 filings • 501(c)4 • <$500k nonprofits • Source year 2019

Asset Growth

81st percentile

22%

Faster asset growth than 81% of similar nonprofits.

2019 filings • 501(c)4 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

11th percentile

-38%

Faster revenue growth than 11% of similar nonprofits.

2019 filings • 501(c)4 • <$500k nonprofits • Annualized from 2018 to 2019

Assets

Up

$206,718

Up $37,384 (+22%) from 2018

Net Assets

Up

$199,464

Up $39,145 (+24%) from 2018

Liabilities

Down

$7,254

Down $1,761 (-20%) from 2018

Revenue

Down

$273,153

Down $167,605 (-38%) from 2018

Expenses

Down

$234,008

Down $151,544 (-39%) from 2018

Net Income

Down

$39,145

Down $16,061 (-29%) from 2018

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

2019

Assets$206,718
Liabilities$7,254
Net Assets$199,464

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

2019

Revenue$273,153
Expenses$234,008
Net Income$39,145
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 19, 2021
Return Version
2019v5.0
Gross Receipts
$273,153
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$127,533$206,667▲ $79,134
Pledges and Grants Receivable$41,801--
Prepaid Expenses and Deferred Charges-$51-
Total Assets$169,334$206,718▲ $37,384
Liabilities
Accounts Payable and Accrued Expenses$9,015$7,254▼ $1,761
Total Liabilities$9,015$7,254▼ $1,761
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$160,319$199,464▲ $39,145
Total Net Assets Fund Balance$160,319$199,464▲ $39,145
Total Liabilities and Net Assets / Fund Balance$169,334$206,718▲ $37,384
Compensation and Service Providers

Board Members and Trustees

NameTitle
Devin EmbrayPresident
Alan DeboltOfficer
Mark LincolnSecretary
Katelyn McgannTreasurer
Larry WinumVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$273,153
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$7,310
Change in Net Assets
$39,145
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$141,464
Other Expenses$92,544
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$97,355-$97,355
Other Employee Benefits-$21,729-$21,729
Conferences and Meetings$13,622$7,705-$21,327
Information Technology$14,857--$14,857
Pension Plan Contributions-$14,603-$14,603
Payroll Taxes-$7,777-$7,777
Fees for Services Accounting-$4,592-$4,592
Other Expenses$2,062$6,242-$2,062
Advertising$1,969--$1,969
Office Expenses-$1,461-$1,461
Insurance-$1,190-$1,190
Total Functional Expenses$71,354$162,654$0$234,008
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
Officer
Phone
7128247790
Signed
2021-08-19

Organization Details

Principal Officer
Devin Embray
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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IRS990/MissionDesc0THE 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
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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
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0169334
IRS990/TotalAssetsEOYAmt0206718
IRS990/TotalAssetsGrp/BOYAmt0169334
IRS990/TotalAssetsGrp/EOYAmt0206718
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0273153
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0162654
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt071354
IRS990/TotalFunctionalExpensesGrp/TotalAmt0234008
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09015
IRS990/TotalLiabilitiesEOYAmt07254
IRS990/TotalLiabilitiesGrp/BOYAmt09015
IRS990/TotalLiabilitiesGrp/EOYAmt07254
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0160319
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0199464
IRS990/TotalOtherProgSrvcExpenseAmt017653
IRS990/TotalProgramServiceExpensesAmt071354
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0273153
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0169334
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0206718
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0103 CENTRAL
IRS990/USAddress/AddressLine2Txt0SUITE 300
IRS990/USAddress/CityNm0GLENWOOD
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051534
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.MILLSCOUNTYIOWA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0ALAN DEBOLT
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0OFFICER
ReturnHeader/BusinessOfficerGrp/PhoneNum07128247790
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/ReturnTs02021-08-19T10:20:22-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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