Civic Intelligence

Audubon County Economic Development Corporation

990 • Fiscal year 2019 • EIN 42-1303726

Jul 01, 2018 to Jun 30, 2019 • Filed on Oct 14, 2019

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

66th percentile

0.02x

Higher debt load relative to assets than 66% of similar nonprofits.

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

Liabilities / Revenue

71st percentile

0.04x

Higher debt load relative to revenue than 71% of similar nonprofits.

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

Net Margin

15th percentile

-21%

Higher net margin than 15% of similar nonprofits.

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

Top Officer Pay

91st percentile

$8,077

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

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

Asset Growth

30th percentile

-7.3%

Faster asset growth than 30% of similar nonprofits.

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

Revenue Growth

5th percentile

-69%

Faster revenue growth than 5% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets66th percentile

Assets

Down

$374,631

Down $29,598 (-7.3%) from 2018

Net Assets

Down

$368,131

Down $32,732 (-8.2%) from 2018

Liabilities

Up

$6,500

Up $3,134 (+93%) from 2018

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin15th percentile

Revenue

Down

$159,238

Down $360,061 (-69%) from 2018

Expenses

Down

$191,970

Down $474,662 (-71%) from 2018

Net Income

Up

-$32,732

Up $114,601 (+78%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth30th 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

2019

Assets$374,631
Liabilities$6,500
Net Assets$368,131
Open 2019 Filing

Operations Trend

Revenue Growth5th 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

2019

Revenue$159,238
Expenses$191,970
Net Income-$32,732
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Oct 14, 2019
Return Version
2018v3.1
Gross Receipts
$159,238
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$263,644$211,629▼ $52,015
Land, Buildings, and Equipment, Net$136,872$159,289▲ $22,417
Total Assets$404,229$374,631▼ $29,598
Other Assets Total$3,713$3,713→ $0
Liabilities
Accounts Payable and Accrued Expenses$3,366$6,500▲ $3,134
Total Liabilities$3,366$6,500▲ $3,134
Net Assets / Fund Balance
Unrestricted Net Assets$400,863$368,131▼ $32,732
Total Net Assets Fund Balance$400,863$368,131▼ $32,732
Total Liabilities and Net Assets / Fund Balance$404,229$374,631▼ $29,598

Asset Categories

AssetBook ValueDepreciationBasis
Land$159,289--
Other Assets Org$3,713--
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleBaseTotal
Laurie GilbertExecutive Director$8,077$8,077

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$151,386
Program Service Revenue
$0
Investment Income
$1,852
Other Revenue
$6,000
Change in Net Assets
$-32,732
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$151,702
Salaries, Compensation, and Employee Benefits$25,183
Other Expenses$15,085
Total Fundraising Expense$34
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$151,702--$151,702
Other Salaries and Wages-$20,264-$20,264
Payroll Taxes-$4,919-$4,919
Office Expenses-$4,723-$4,723
Other Expenses-$2,815-$2,815
Occupancy-$2,400-$2,400
Insurance-$1,818-$1,818
Information Technology-$1,477-$1,477
Conferences and Meetings-$995-$995
Fees for Services Other-$623-$623
Fees for Services Legal-$200-$200
Advertising--$34$34
Total Functional Expenses$151,702$40,234$34$191,970
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of AudubonAudubon, IA170c1Develop New Housing and Clean Up Blight$72,502
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 Wessell
Title
President
Phone
7125632742
Signed
2019-10-14
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 St, EXIRA, IA 50076
Preparer
Elsie Joanne Bald
Phone
7122685357
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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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IRS990/ReportOtherLiabilitiesInd0false
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IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0159289
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03713
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OFFICE EQIUPMENT
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IRS990ScheduleD/TotalBookValueOtherAssetsAmt03713
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IRS990ScheduleI/RecipientTable/CashGrantAmt072502
IRS990ScheduleI/RecipientTable/IRCSectionDesc0170C1
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0DEVELOP NEW HOUSING AND CLEAN UP BLIGHT
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CITY OF AUDUBON
IRS990ScheduleI/RecipientTable/RecipientEIN0426004256
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0410 NORTH PARK PLACE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0AUDUBON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd050025
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ORGANIZATIONS SEEKING GRANTS SUBMIT PROPOSALS TO THE EXECUTIVE DIRECTOR 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.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Monitoring procedures (Part I, line 2)
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt0374631
IRS990/TotalAssetsGrp/BOYAmt0404229
IRS990/TotalAssetsGrp/EOYAmt0374631
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0151386
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt034
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt040234
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0151702
IRS990/TotalFunctionalExpensesGrp/TotalAmt0191970
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03366
IRS990/TotalLiabilitiesEOYAmt06500
IRS990/TotalLiabilitiesGrp/BOYAmt03366
IRS990/TotalLiabilitiesGrp/EOYAmt06500
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0400863
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0368131
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt06606
IRS990/TotalProgramServiceExpensesAmt0151702
IRS990/TotalReportableCompFromOrgAmt08077
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07852
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0159238
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0404229
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0374631
IRS990/TotReportableCompRltdOrgAmt00
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IRS990/UnrestrictedNetAssetsGrp/BOYAmt0400863
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0368131
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.AUDUBONCOUNTY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TROY WESSELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07125632742
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-10-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AUDUBON COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0AUDU
ReturnHeader/Filer/EIN0421303726
ReturnHeader/Filer/USAddress/AddressLine1Txt0800 MARKET STREET
ReturnHeader/Filer/USAddress/CityNm0AUDUBON
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ReturnHeader/Filer/USAddress/ZIPCd0500251050
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F8130B249D7DB6C911EE2ED2EF17E2C7B61C2B8A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0F8130B249D7DB6C911EE2ED2EF17E2C7B61C2B8A
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId04248012019291koihz1y
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-10-18
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt067.55.231.200
ReturnHeader/FilingSecurityInformation/IPDt02019-10-18
ReturnHeader/FilingSecurityInformation/IPTm014:10:27
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0812683639
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rasmussen Nelson & Wonio PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0112 W Washington St
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0EXIRA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050076
ReturnHeader/PreparerPersonGrp/PhoneNum07122685357
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Elsie Joanne Bald
ReturnHeader/ReturnTs02019-10-14T16:21:55-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$374,631
Liabilities
$6,500
Net assets
$368,131
Revenue
$159,238
Expenses
$191,970
Net income
-$32,732
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