Civic Intelligence

Audubon County Economic Development Corporation

990 • Fiscal year 2021 • EIN 42-1303726

Jul 01, 2020 to Jun 30, 2021 • Filed on Sep 09, 2021

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

37th percentile

0.00x

Higher debt load relative to assets than 37% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

37th percentile

0.00x

Higher debt load relative to revenue than 37% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Net Margin

19th percentile

-8.3%

Higher net margin than 19% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

78th percentile

$7,627

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 3.9% of source-year revenue.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2021

Asset Growth

84th percentile

29%

Faster asset growth than 84% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

79th percentile

47%

Faster revenue growth than 79% of similar nonprofits.

2021 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets37th percentile

Assets

Up

$533,348

Up $120,167 (+29%) from 2020

Net Assets

Up

$533,309

Up $120,221 (+29%) from 2020

Liabilities

Down

$39

Down $54 (-58%) from 2020

Revenue And Expenses
Liabilities / Revenue37th percentileNet Margin19th percentile

Revenue

Up

$194,148

Up $61,994 (+47%) from 2020

Expenses

Up

$210,343

Up $117,953 (+128%) from 2020

Net Income

Down

-$16,195

Down $55,959 (-141%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth84th 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

2021

Assets$533,348
Liabilities$39
Net Assets$533,309
Open 2021 Filing

Operations Trend

Revenue Growth79th 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

2021

Revenue$194,148
Expenses$210,343
Net Income-$16,195
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Sep 9, 2021
Return Version
2020v4.1
Gross Receipts
$194,148
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
Land, Buildings, and Equipment, Net$159,289$298,939▲ $139,650
Savings and Temporary Cash Investments$247,704$230,596▼ $17,108
Accounts Receivable$2,475$100▼ $2,375
Total Assets$413,181$533,348▲ $120,167
Other Assets Total$3,713$3,713→ $0
Liabilities
Accounts Payable and Accrued Expenses$93$39▼ $54
Total Liabilities$93$39▼ $54
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$413,088$533,309▲ $120,221
Total Net Assets Fund Balance$413,088$533,309▲ $120,221
Total Liabilities and Net Assets / Fund Balance$413,181$533,348▲ $120,167

Asset Categories

AssetBook ValueDepreciationBasis
Land$298,939--
Other Assets Org$3,713--
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Laurie GilbertTreasurerdirectorPT$7,627$7,627

Board Members and Trustees

NameTitle
Troy D WesselPresidentdirector
Pat KaiserVice Presidentdirector
Brett IrlmeierDirector
Clark KauffmanDirector
Doug SorensenDirector
Lyle Hansen JrDirector
Cindi T PaulsenDirector - City of Exira
John MeislahnDirector - City of Gray
Steve SchmitzDirector - City of Kimballton
Jason HockerSecretarydirector -city of a
Revenue and Support

Revenue Composition

Contributions and Grants
$185,638
Program Service Revenue
$0
Investment Income
$2,510
Other Revenue
$6,000
All Other Contributions
$51,581
Change in Net Assets
$-16,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$153,664
Salaries, Compensation, and Employee Benefits$40,467
Other Expenses$16,212
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$126,993--$126,993
Other Salaries and Wages-$29,886-$29,886
Grants to Domestic Individuals$26,671--$26,671
Current Officers, Directors, Trustees, and Key Employees-$7,627-$7,627
Office Expenses-$3,818-$3,818
Occupancy-$3,300-$3,300
Payroll Taxes-$2,954-$2,954
Other Expenses$2,882--$2,882
Insurance$1,834--$1,834
Fees for Services Other-$1,655-$1,655
Information Technology-$452-$452
Fees for Services Legal-$200-$200
Total Functional Expenses$160,451$49,892$0$210,343
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 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 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
Presidentdirec
Phone
7125632742
Signed
2021-09-09
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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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/Form990PartVIISectionAGrp/TitleTxt0TREASURERDIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR - CITY OF EXIRA
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR - CITY OF GRAY
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR - CITY OF KIMBALLTON
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8PRESIDENTDIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9SECRETARYDIRECTOR -CITY OF A
IRS990/Form990PartVIISectionAGrp/TitleTxt10VICE PRESIDENTDIRECTOR
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE CITY ADMINISTERED THE CITY SIDEWALK GRANT FROM WELLMARK IN THE AMOUNT OF $1,500.
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IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt01500
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-16195
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt06000
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0247704
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0230596
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/LandGrp/BookValueAmt0298939
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0298939
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03713
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0OFFICE EQIUPMENT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0298939
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03713
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt026671
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0MATCH 50 COST UP TO 7500 TO CLEAN UP BLIGHTED PROPERTY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt05
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0NO GRANTS WERE MADE TO DOMESTIC ORGANIZATIONS OR GOVERNMENTS.
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1THE FOLLOWING AMOUNTS WERE GRANTED:TIM & TRACEY ARMENTROUT $4928BETTY OBERMEIER $7500NATHAN WAHLERT $3643JEFF & TRISH NIELSEN $3100KESSLER FUNERAL HOME $7500
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Monitoring procedures (Part I, line 2)
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1Estimate calculation (Part III, column b)
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0413181
IRS990/TotalAssetsEOYAmt0533348
IRS990/TotalAssetsGrp/BOYAmt0413181
IRS990/TotalAssetsGrp/EOYAmt0533348
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0185638
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt049892
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0160451
IRS990/TotalFunctionalExpensesGrp/TotalAmt0210343
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt093
IRS990/TotalLiabilitiesEOYAmt039
IRS990/TotalLiabilitiesGrp/BOYAmt093
IRS990/TotalLiabilitiesGrp/EOYAmt039
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0413088
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0533309
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt01500
IRS990/TotalOtherProgSrvcGrantAmt01500
IRS990/TotalProgramServiceExpensesAmt0160451
IRS990/TotalReportableCompFromOrgAmt07627
IRS990/TotalRevenueGrp/ExclusionAmt08510
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0194148
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0413181
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0533348
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.AUDUBONCOUNTY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TROY D WESSEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENTDIREC
ReturnHeader/BusinessOfficerGrp/PhoneNum07125632742
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AUDUBON COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0AUDU
ReturnHeader/Filer/EIN0421303726
ReturnHeader/Filer/USAddress/AddressLine1Txt0800 MARKET STREET
ReturnHeader/Filer/USAddress/CityNm0AUDUBON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd0500251050
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/PreparationDt02021-10-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Elsie Joanne Bald
ReturnHeader/ReturnTs02021-10-07T11:59:26-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0TROY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WESSEL
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$533,348
Liabilities
$39
Net assets
$533,309
Revenue
$194,148
Expenses
$210,343
Net income
-$16,195
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