Civic Intelligence

Audubon County Economic Development Corporation

990 • Fiscal year 2018 • EIN 42-1303726

Jul 01, 2017 to Jun 30, 2018 • Filed on Sep 12, 2018

Organization ProfileWWW.AUDUBONCOUNTY.COM
800 Market StreetAudubon, IA 50025-1050

(712) 563-2742

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.01x

Higher debt load relative to assets than 43% of similar nonprofits.

2018 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

39th percentile

0.01x

Higher debt load relative to revenue than 39% of similar nonprofits.

2018 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2018

Net Margin

10th percentile

-28%

Higher net margin than 10% of similar nonprofits.

2018 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

5th percentile

-26%

Faster asset growth than 5% of similar nonprofits.

2018 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

98th percentile

364%

Faster revenue growth than 98% of similar nonprofits.

2018 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets43rd percentile

Assets

Down

$404,229

Down $144,891 (-26%) from 2017

Net Assets

Down

$400,863

Down $147,333 (-27%) from 2017

Liabilities

Up

$3,366

Up $2,442 (+264%) from 2017

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin10th percentile

Revenue

Up

$519,299

Up $407,345 (+364%) from 2017

Expenses

Up

$666,632

Up $569,904 (+589%) from 2017

Net Income

Down

-$147,333

Down $162,559 (-1068%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2012: $445,630Liabilities 2012: $02012Assets 2013: $440,906Liabilities 2013: $02013Assets 2014: $467,752Liabilities 2014: $02014Assets 2015: $517,449Liabilities 2015: $0Net Assets 2015: $517,4492015Assets 2016: $571,890Liabilities 2016: $38,920Net Assets 2016: $532,9702016Assets 2017: $549,120Liabilities 2017: $924Net Assets 2017: $548,1962017Assets 2018: $404,229Liabilities 2018: $3,366Net Assets 2018: $400,8632018Assets 2019: $374,631Liabilities 2019: $6,500Net Assets 2019: $368,1312019Assets 2020: $413,181Liabilities 2020: $93Net Assets 2020: $413,0882020Assets 2021: $533,348Liabilities 2021: $39Net Assets 2021: $533,3092021Assets 2022: $1,644,626Liabilities 2022: $216Net Assets 2022: $1,644,4102022Assets 2023: $1,295,252Liabilities 2023: $956Net Assets 2023: $1,294,2962023Assets 2024: $1,252,572Liabilities 2024: $956Net Assets 2024: $1,251,6162024Assets 2025: $1,570,471Liabilities 2025: $423,405Net Assets 2025: $1,147,0662025

Highlighted filing

2018

Assets$404,229
Liabilities$3,366
Net Assets$400,863
Open 2018 Filing

Operations Trend

Revenue Growth98th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2012: $120,563Expenses 2012: $89,900Net Income 2012: $30,6632012Revenue 2013: $95,360Expenses 2013: $100,084Net Income 2013: -$4,7242013Revenue 2014: $129,086Expenses 2014: $127,049Net Income 2014: $2,0372014Revenue 2015: $125,142Expenses 2015: $75,445Net Income 2015: $49,6972015Revenue 2016: $103,860Expenses 2016: $73,398Net Income 2016: $30,4622016Revenue 2017: $111,954Expenses 2017: $96,728Net Income 2017: $15,2262017Revenue 2018: $519,299Expenses 2018: $666,632Net Income 2018: -$147,3332018Revenue 2019: $159,238Expenses 2019: $191,970Net Income 2019: -$32,7322019Revenue 2020: $132,154Expenses 2020: $92,390Net Income 2020: $39,7642020Revenue 2021: $194,148Expenses 2021: $210,343Net Income 2021: -$16,1952021Revenue 2022: $1,294,819Expenses 2022: $170,952Net Income 2022: $1,123,8672022Revenue 2023: $117,027Expenses 2023: $476,632Net Income 2023: -$359,6052023Revenue 2024: $155,186Expenses 2024: $204,978Net Income 2024: -$49,7922024Revenue 2025: $488,573Expenses 2025: $507,177Net Income 2025: -$18,6042025

Highlighted filing

2018

Revenue$519,299
Expenses$666,632
Net Income-$147,333
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Sep 12, 2018
Return Version
2017v2.2
Gross Receipts
$519,299
Mission and Program Overview

Mission

Assist existing county businesses with retention and expansion; solicit new businesses; create and acquire space for new businesses; and enchance the quality of life in audubon county, iowa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$408,535$263,644▼ $144,891
Land, Buildings, and Equipment, Net$136,872$136,872→ $0
Total Assets$549,120$404,229▼ $144,891
Other Assets Total$3,713$3,713→ $0
Liabilities
Accounts Payable and Accrued Expenses$924$3,366▲ $2,442
Total Liabilities$924$3,366▲ $2,442
Net Assets / Fund Balance
Unrestricted Net Assets$548,196$400,863▼ $147,333
Total Net Assets Fund Balance$548,196$400,863▼ $147,333
Total Liabilities and Net Assets / Fund Balance$549,120$404,229▼ $144,891

Asset Categories

AssetBook ValueDepreciationBasis
Land$136,872--
Other Assets Org$3,713--
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleBaseTotal
Laurie GilbertExecutive Director$8,595$8,595

Board Members and Trustees

NameTitle
Troy D WesselPresident
Todd NelsenVice President
Bryan OlsonDirector
Clark KauffmanDirector
Jay NelsonDirector
Joseph T RasmussenDirector
Lyle Hansen JrDirector
Steve SchmitzDirector
Jason HockerSecretary
Brett IrlmeierTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$512,102
Program Service Revenue
$0
Investment Income
$1,197
Other Revenue
$6,000
Change in Net Assets
$-147,333
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$630,880
Salaries, Compensation, and Employee Benefits$19,233
Other Expenses$16,519
Total Fundraising Expense$585
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$630,880--$630,880
Other Salaries and Wages-$17,859-$17,859
Office Expenses-$4,878-$4,878
Occupancy-$3,600-$3,600
Fees for Services Other-$3,351-$3,351
Insurance-$1,834-$1,834
Payroll Taxes-$1,374-$1,374
Conferences and Meetings-$775-$775
Information Technology-$670-$670
Advertising--$585$585
Other Expenses-$500-$500
Fees for Services Legal-$250-$250
Travel-$76-$76
Total Functional Expenses$630,880$35,167$585$666,632
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Audubon Recreation FoundationAudubon, IA501c3Construction of Recreation Center$500,000
City of ExiraExira, IA170c1Renovation of Exira Recreational Center$91,500
City of BraytonBrayton, IA170c1Renovation of City Hall$10,980
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
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 governing body review Part VI line 11

“Board reviews financial statements monthly and form 990 annually, prior to submission”

Conflict of interest policy compliance Part VI line 12C

“The organization does not have a formal conflict of interest policy. However, officers and directors disclose and discuss any conflicts they may have during monthly meetings and abstain from voting on the matter if appropriate.”

Governing documents etc available to public Part VI line 19

“The governing documents and board minutes are available upon request.”

Filing and Contact Details

Filer

Filer Name
Audubon County Economic Development
EIN
42-1303726
Address
800 MARKET STREET, AUDUBON, IA 50025-1050

Signing Officer

Name
Troy D Wessel
Title
President
Phone
7125632742
Signed
2018-09-12
Discuss with paid preparer
Yes

Organization Details

Formed
1987
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
2

Preparer

Firm
Rasmussen Nelson & Wonio PLC
Address
112 W Washington Street, Exira, IA 50076
Preparer
Elsie Joanne Bald
Phone
7122685357
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OFFICE EQIUPMENT
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt03713
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IRS990ScheduleI/RecipientTable/CashGrantAmt210980
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1RENOVATION OF EXIRA RECREATIONAL CENTER
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2RENOVATION OF CITY HALL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0AUDUBON RECREATION FOUNDATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1CITY OF EXIRA
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2CITY OF BRAYTON
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2BOX 104
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IRS990ScheduleI/RecipientTable/USAddress/CityNm1EXIRA
IRS990ScheduleI/RecipientTable/USAddress/CityNm2BRAYTON
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1IA
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IRS990ScheduleI/RecipientTable/USAddress/ZIPCd150076
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd250042
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ORGANIZATIONS SEEKING GRANTS SUBMIT PROPOSALS TO THE EXECUTIVE OFFICER WHO PRESENTS IT TO THE BOARD FOR DISCUSSION AND APPROVAL. AFTER A GRANT IS APPROVED, THE BOARD REVIEWS PROGRESS REPORTS FROM THE RECIPIENTS AT MONTHLY MEETINGS. PERSONAL INSPECTIONS ARE MADE FOR LARGE PROJECTS. ANY ISSUES ARE DISCUSSED AND RESOLVED AT BOARD MEETINGS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Monitoring procedures (Part I, line 2)
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IRS990ScheduleI/TotalOtherOrgCnt02
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD REVIEWS FINANCIAL STATEMENTS MONTHLY AND FORM 990 ANNUALLY, PRIOR TO SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION DOES NOT HAVE A FORMAL CONFLICT OF INTEREST POLICY. HOWEVER, OFFICERS AND DIRECTORS DISCLOSE AND DISCUSS ANY CONFLICTS THEY MAY HAVE DURING MONTHLY MEETINGS AND ABSTAIN FROM VOTING ON THE MATTER IF APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE GOVERNING DOCUMENTS AND BOARD MINUTES ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalContributionsAmt0512102
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0585
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt035167
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0630880
IRS990/TotalFunctionalExpensesGrp/TotalAmt0666632
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0924
IRS990/TotalLiabilitiesEOYAmt03366
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IRS990/TotalLiabilitiesGrp/EOYAmt03366
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IRS990/TotalProgramServiceExpensesAmt0630880
IRS990/TotalReportableCompFromOrgAmt08595
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07197
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0519299
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0549120
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0404229
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt076
IRS990/TravelGrp/TotalAmt076
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt0548196
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0400863
IRS990/UponRequestInd0X
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IRS990/WebsiteAddressTxt0WWW.AUDUBONCOUNTY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0TROY D WESSEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-12
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ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02018-10-12
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.55.231.200
ReturnHeader/FilingSecurityInformation/IPDt02018-10-12
ReturnHeader/FilingSecurityInformation/IPTm013:45:36
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0812683639
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rasmussen Nelson & Wonio PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0112 W Washington Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Exira
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050076
ReturnHeader/PreparerPersonGrp/PhoneNum07122685357
ReturnHeader/PreparerPersonGrp/PreparationDt02018-10-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Elsie Joanne Bald
ReturnHeader/ReturnTs02018-10-12T13:42:59-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$404,229
Liabilities
$3,366
Net assets
$400,863
Revenue
$519,299
Expenses
$666,632
Net income
-$147,333
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.57$0.42$1.15$0.49$0.51$0.02
2024Detailed filing. Detailed filing data is available for this year.$1.25$0.00$1.25$0.16$0.20$0.05
2023Detailed filing. Detailed filing data is available for this year.$1.30$0.00$1.29$0.12$0.48$0.36
2022Detailed filing. Detailed filing data is available for this year.$1.64$0.00$1.64$1.29$0.17$1.12
2021Detailed filing. Detailed filing data is available for this year.$0.53$0.00$0.53$0.19$0.21$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.41$0.00$0.41$0.13$0.09$0.04
2019Detailed filing. Detailed filing data is available for this year.$0.37$0.01$0.37$0.16$0.19$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.40$0.00$0.40$0.52$0.67$0.15
2017Detailed filing. Detailed filing data is available for this year.$0.55$0.00$0.55$0.11$0.10$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.57$0.04$0.53$0.10$0.07$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.13$0.08$0.05
2014Summary only. Only limited summary data is available for this year.$0.47$0.00$0.13$0.13$0.00
2013Summary only. Only limited summary data is available for this year.$0.44$0.00$0.10$0.10$0.00
2012Summary only. Only limited summary data is available for this year.$0.45$0.00$0.12$0.09$0.03