Civic Intelligence

Glenwood Area Economic Development Foundation Inc

990 • Fiscal year 2023 • EIN 42-1301658

Jan 01, 2023 to Dec 31, 2023 • Filed on Oct 29, 2024

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

56th percentile

0.00x

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

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

56th percentile

0.00x

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

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Net Margin

67th percentile

13%

Higher net margin than 67% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Top Officer Pay

87th percentile

$0

Higher top officer pay than 87% of similar nonprofits.

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

2023 filings • 501(c)4 • <$500k nonprofits • Source year 2023

Asset Growth

67th percentile

8.6%

Faster asset growth than 67% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

80th percentile

34%

Faster revenue growth than 80% of similar nonprofits.

2023 filings • 501(c)4 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$460,100

Up $36,448 (+8.6%) from 2022

Net Assets

Up

$460,100

Up $40,429 (+9.6%) from 2022

Liabilities

Down

$0

Down $3,981 (-100%) from 2022

Revenue

Up

$305,606

Up $76,784 (+34%) from 2022

Expenses

Up

$265,177

Up $84,060 (+46%) from 2022

Net Income

Down

$40,429

Down $7,276 (-15%) from 2022

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

2023

Assets$460,100
Liabilities$0
Net Assets$460,100

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

2023

Revenue$305,606
Expenses$265,177
Net Income$40,429
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Oct 29, 2024
Return Version
2023v5.0
Gross Receipts
$305,606
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$228,425$264,775▲ $36,350
Savings and Temporary Cash Investments$195,227$195,325▲ $98
Total Assets$423,652$460,100▲ $36,448
Liabilities
Accounts Payable and Accrued Expenses$3,981--
Total Liabilities$3,981$0▼ $3,981
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$419,671$460,100▲ $40,429
Total Net Assets Fund Balance$419,671$460,100▲ $40,429
Total Liabilities and Net Assets / Fund Balance$423,652$460,100▲ $36,448
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mark LincolnPresident
Al HughesDirector
Alan DeboltDirector
Jodi EvansDirector
Jon LorsonDirector
Katelyn McgannDirector
Mark StanleyDirector
Mary GundersonDirector
Michelle ZandersDirector
Sandi WintonDirector
Devin EmbraySecretary
Larry WinumTreasurer
Jodi HilsabeckVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$305,000
Program Service Revenue
$0
Investment Income
$606
Other Revenue
$0
All Other Contributions
$110,000
Change in Net Assets
$40,429
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$139,055
Other Expenses$126,122
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$120,437-$120,437
Payroll Taxes-$9,255-$9,255
Pension Plan Contributions-$8,582-$8,582
Advertising$5,808--$5,808
Insurance-$2,982-$2,982
Occupancy-$2,400-$2,400
Office Expenses-$2,136-$2,136
Travel-$1,895-$1,895
Fees for Services Accounting-$1,856-$1,856
Fees for Services Management-$1,283-$1,283
Other Expenses$1,211$901-$901
Other Employee Benefits-$781-$781
Conferences and Meetings$750--$750
Total Functional Expenses$112,669$152,508$0$265,177
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 alan debolt 404 howland emerson, ia 51533 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 jodi evans glenwood, ia 51534 jodi hilsabeck glenwood, ia 51534 michelle zanders 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
Mark Lincoln
Title
President
Phone
7123706500
Signed
2024-10-29

Organization Details

Principal Officer
Mark Lincoln
Formed
1955
Legal Domicile
Ia
Voting Board Members
13
Independent Board Members
13
Employees
1

Preparer

Firm
New Era Tax & Accounting
Address
PO BOX 699, SIDNEY, IA 51652-0699
Preparer
Cooper Talich
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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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990/ScheduleJRequiredInd0false
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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 ALAN DEBOLT 404 HOWLAND EMERSON, IA 51533 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 JODI EVANS GLENWOOD, IA 51534 JODI HILSABECK GLENWOOD, IA 51534 MICHELLE ZANDERS 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/TotalFunctionalExpensesGrp/ProgramServicesAmt0112669
IRS990/TotalFunctionalExpensesGrp/TotalAmt0265177
IRS990/TotalGrossUBIAmt00
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0305606
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IRS990/TravelGrp/ManagementAndGeneralAmt01895
IRS990/TravelGrp/TotalAmt01895
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0515 SHARP STREET
IRS990/USAddress/CityNm0GLENWOOD
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051534
IRS990/VotingMembersGoverningBodyCnt013
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IRS990/WebsiteAddressTxt0WWW.MILLSCOUNTYIOWA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK LINCOLN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07123706500
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-29
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/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/PhoneNum07123742003
ReturnHeader/PreparerPersonGrp/PreparationDt02024-10-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0COOPER TALICH
ReturnHeader/ReturnTs02024-10-31T14:22:36-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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