Civic Intelligence

Glenwood Area Economic Development Foundation Inc

990 • Fiscal year 2021 • EIN 42-1301658

Jan 01, 2021 to Dec 31, 2021 • 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

69th percentile

0.03x

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

2021 filings • 501(c)4 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

69th percentile

0.04x

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

2021 filings • 501(c)4 • <$500k nonprofits • Source year 2021

Net Margin

62nd percentile

16%

Higher net margin than 62% of similar nonprofits.

2021 filings • 501(c)4 • <$500k nonprofits • Source year 2021

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.

2021 filings • 501(c)4 • <$500k nonprofits • Source year 2021

Asset Growth

68th percentile

14%

Faster asset growth than 68% of similar nonprofits.

2021 filings • 501(c)4 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

37th percentile

-14%

Faster revenue growth than 37% of similar nonprofits.

2021 filings • 501(c)4 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Up

$384,356

Up $47,318 (+14%) from 2020

Net Assets

Up

$371,966

Up $44,981 (+14%) from 2020

Liabilities

Up

$12,390

Up $2,337 (+23%) from 2020

Revenue

Down

$289,349

Down $48,709 (-14%) from 2020

Expenses

Up

$244,368

Up $33,833 (+16%) from 2020

Net Income

Down

$44,981

Down $82,542 (-65%) from 2020

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

2021

Assets$384,356
Liabilities$12,390
Net Assets$371,966

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

2021

Revenue$289,349
Expenses$244,368
Net Income$44,981
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 29, 2024
Return Version
2021v4.0
Gross Receipts
$289,349
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$195,130▲ $130
Cash and Non-Interest-Bearing Accounts$142,038$183,676▲ $41,638
Accounts Receivable-$5,550-
Total Assets$337,038$384,356▲ $47,318
Liabilities
Accounts Payable and Accrued Expenses$10,053$12,390▲ $2,337
Total Liabilities$10,053$12,390▲ $2,337
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$326,985$371,966▲ $44,981
Total Net Assets Fund Balance$326,985$371,966▲ $44,981
Total Liabilities and Net Assets / Fund Balance$337,038$384,356▲ $47,318
Compensation and Service Providers

Board Members and Trustees

NameTitle
Mark LincolnPresident
Al HughesDirector
Alan DeboltDirector
Jodi EvansDirector
Katelyn McgannDirector
Mary GundersonDirector
Devin EmbraySecretary
Larry WinumTreasurer
Jodi HilsabeckVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$289,150
Program Service Revenue
$0
Investment Income
$199
Other Revenue
$0
All Other Contributions
$16,650
Change in Net Assets
$44,981
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$129,856
Other Expenses$114,512
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$100,101-$100,101
Information Technology$17,723--$17,723
Pension Plan Contributions-$15,105-$15,105
Payroll Taxes-$7,932-$7,932
Other Employee Benefits-$6,718-$6,718
Advertising$6,141--$6,141
Fees for Services Accounting-$2,404-$2,404
Insurance-$1,238-$1,238
Office Expenses-$1,059-$1,059
Other Expenses$8,750$691-$691
All Other Expenses-$500-$500
Fees for Services Legal$500--$500
Travel-$256-$256
Total Functional Expenses$108,364$136,004$0$244,368
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

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
7125274833
Signed
2024-10-29

Organization Details

Principal Officer
Mark Lincoln
Formed
1955
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
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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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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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
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/TotalAssetsBOYAmt0337038
IRS990/TotalAssetsEOYAmt0384356
IRS990/TotalAssetsGrp/BOYAmt0337038
IRS990/TotalAssetsGrp/EOYAmt0384356
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0289150
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0136004
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0108364
IRS990/TotalFunctionalExpensesGrp/TotalAmt0244368
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010053
IRS990/TotalLiabilitiesEOYAmt012390
IRS990/TotalLiabilitiesGrp/BOYAmt010053
IRS990/TotalLiabilitiesGrp/EOYAmt012390
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0326985
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0371966
IRS990/TotalOtherProgSrvcExpenseAmt014891
IRS990/TotalProgramServiceExpensesAmt0108364
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0199
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0289349
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0337038
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0384356
IRS990/TravelGrp/ManagementAndGeneralAmt0256
IRS990/TravelGrp/TotalAmt0256
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0515 SHARP STREET
IRS990/USAddress/CityNm0GLENWOOD
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051534
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.MILLSCOUNTYIOWA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MARK LINCOLN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07125274833
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/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/ReturnTs02024-10-31T14:21:23-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

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