Civic Intelligence

Rock Valley Economic Development Co

990 • Fiscal year 2022 • EIN 42-1307382

Jul 01, 2021 to Jun 30, 2022 • Filed on Sep 13, 2022

Organization Profile
PO Box 100Rock Valley, IA 51247

(712) 476-2576

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.52x

Higher debt load relative to assets than 83% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2022

Liabilities / Revenue

97th percentile

10.84x

Higher debt load relative to revenue than 97% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2022

Net Margin

90th percentile

69%

Higher net margin than 90% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2022

Top Officer Pay

41st percentile

$0

Higher top officer pay than 41% of similar nonprofits.

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

2022 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2022

Asset Growth

63rd percentile

5.3%

Faster asset growth than 63% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Revenue Growth

11th percentile

-37%

Faster revenue growth than 11% of similar nonprofits.

2022 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Up

$8,432,774

Up $421,903 (+5.3%) from 2021

Net Assets

Up

$4,046,181

Up $279,993 (+7.4%) from 2021

Liabilities

Up

$4,386,593

Up $141,910 (+3.3%) from 2021

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin90th percentile

Revenue

Down

$404,691

Down $236,950 (-37%) from 2021

Expenses

Down

$124,698

Down $550,990 (-82%) from 2021

Net Income

Up

$279,993

Up $314,040 (+922%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

$15M$10M$5.0M$0Assets 2011: $3,301,224Liabilities 2011: $1,159,708Net Assets 2011: $2,141,5162011Assets 2012: $3,453,065Liabilities 2012: $1,047,394Net Assets 2012: $2,405,6712012Assets 2013: $3,693,654Liabilities 2013: $835,536Net Assets 2013: $2,858,1182013Assets 2014: $4,408,415Liabilities 2014: $1,415,864Net Assets 2014: $2,992,5512014Assets 2015: $4,901,170Liabilities 2015: $1,704,457Net Assets 2015: $3,196,7132015Assets 2016: $6,721,523Liabilities 2016: $3,323,337Net Assets 2016: $3,398,1862016Assets 2017: $10,041,019Liabilities 2017: $6,516,151Net Assets 2017: $3,524,8682017Assets 2018: $10,459,007Liabilities 2018: $6,690,535Net Assets 2018: $3,768,4722018Assets 2019: $11,319,164Liabilities 2019: $7,200,257Net Assets 2019: $4,118,9072019Assets 2020: $8,323,693Liabilities 2020: $4,523,458Net Assets 2020: $3,800,2352020Assets 2021: $8,010,871Liabilities 2021: $4,244,683Net Assets 2021: $3,766,1882021Assets 2022: $8,432,774Liabilities 2022: $4,386,593Net Assets 2022: $4,046,1812022Assets 2023: $9,599,180Liabilities 2023: $5,520,185Net Assets 2023: $4,078,9952023Assets 2024: $9,398,817Liabilities 2024: $5,007,672Net Assets 2024: $4,391,1452024Assets 2025: $6,509,624Liabilities 2025: $2,794,799Net Assets 2025: $3,714,8252025

Highlighted filing

2022

Assets$8,432,774
Liabilities$4,386,593
Net Assets$4,046,181
Open 2022 Filing

Operations Trend

Revenue Growth11th percentile

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $186,7952011Expenses 2012: $72,1752012Expenses 2013: $166,6282013Revenue 2014: $171,827Expenses 2014: $37,394Net Income 2014: $134,4332014Revenue 2015: $318,433Expenses 2015: $114,271Net Income 2015: $204,1622015Revenue 2016: $284,297Expenses 2016: $82,824Net Income 2016: $201,4732016Revenue 2017: $188,862Expenses 2017: $38,680Net Income 2017: $150,1822017Revenue 2018: $467,759Expenses 2018: $224,155Net Income 2018: $243,6042018Revenue 2019: $434,208Expenses 2019: $83,773Net Income 2019: $350,4352019Revenue 2020: $3,270,997Expenses 2020: $3,589,669Net Income 2020: -$318,6722020Revenue 2021: $641,641Expenses 2021: $675,688Net Income 2021: -$34,0472021Revenue 2022: $404,691Expenses 2022: $124,698Net Income 2022: $279,9932022Revenue 2023: $641,149Expenses 2023: $608,335Net Income 2023: $32,8142023Revenue 2024: $1,437,571Expenses 2024: $1,125,421Net Income 2024: $312,1502024Revenue 2025: $2,829,993Expenses 2025: $3,506,313Net Income 2025: -$676,3202025

Highlighted filing

2022

Revenue$404,691
Expenses$124,698
Net Income$279,993
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Sep 13, 2022
Return Version
2021v4.0
Gross Receipts
$404,691
Mission and Program Overview

Mission

Economic growth and community betterment within the area of rock valley, iowa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,171,648$7,422,026▲ $250,378
Other Notes and Loans Receivable, Net$532,573$536,509▲ $3,936
Cash and Non-Interest-Bearing Accounts$306,650$474,239▲ $167,589
Total Assets$8,010,871$8,432,774▲ $421,903
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,164,199$4,269,199▲ $105,000
Accounts Payable and Accrued Expenses$73,834$110,744▲ $36,910
Other Liabilities$6,650$6,650→ $0
Total Liabilities$4,244,683$4,386,593▲ $141,910
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,336,939$3,610,122▲ $273,183
Net Assets With Donor Restrictions$429,249$436,059▲ $6,810
Total Net Assets Fund Balance$3,766,188$4,046,181▲ $279,993
Total Liabilities and Net Assets / Fund Balance$8,010,871$8,432,774▲ $421,903

Asset Categories

AssetBook ValueDepreciationBasis
Land$7,422,026--
Compensation and Service Providers
Top Officer Pay41st percentile

Board Members and Trustees

NameTitle
Chad Van ZeePresident
Brad Vanden BoschDirector
Brian RichterDirector
Greg WestraDirector
JEREMY VAN'T HULDirector
Les BurggraafDirector
Matt BuleyDirector
Todd NettenDirector
Tom Van MaanenDirector
Mike PostSecretary
Dave MillerTreasurer
Alex KooimaVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$404,691
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$279,993
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$124,698
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$119,620--$119,620
Fees for Services Accounting$3,978--$3,978
Other Expenses$100--$100
Total Functional Expenses$124,698$0$0$124,698
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deposit on Land$6,650
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

“Board members are elected each year at the annual meeting.”

Form 990, Page 6, Part VI, Line 7B

“The board members meet monthly to make decisions regarding the operations of economic development.”

Form 990, Page 6, Part VI, Line 11B

“A copy of the form 990 was given to the board for approval prior to filing.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request from the public.”

Filing and Contact Details

Filer

Filer Name
Rock Valley Economic Development Co
EIN
42-1307382
Phone
7124762576
Address
PO BOX 100, ROCK VALLEY, IA 51247

Signing Officer

Name
Chad Van Zee
Title
President
Phone
7124762576
Signed
2022-09-13

Organization Details

Principal Officer
Chad Van Zee
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Van Bruggen & Vande Vegte Pc
Address
1313 GOLF COURSE ROAD, ROCK VALLEY, IA 51247
Preparer
Jeffrey S Nibbelink
Phone
7124762725
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Cost of land development 119,620 0 0”

Raw XML Appendix325 raw XML fields

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/ExplanationTxt0BOARD MEMBERS ARE ELECTED EACH YEAR AT THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD MEMBERS MEET MONTHLY TO MAKE DECISIONS REGARDING THE OPERATIONS OF ECONOMIC DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COPY OF THE FORM 990 WAS GIVEN TO THE BOARD FOR APPROVAL PRIOR TO FILING.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COST OF LAND DEVELOPMENT 119,620 0 0
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IRS990/TaxablePartyNotificationInd0false
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0CHAD VAN ZEE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07124762576
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-09-13
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ReturnHeader/PreparerPersonGrp/PreparationDt02022-09-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY S NIBBELINK
ReturnHeader/ReturnTs02022-09-19T14:10:20-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0CHAD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0VAN ZEE
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,432,774
Liabilities
$4,386,593
Net assets
$4,046,181
Revenue
$404,691
Expenses
$124,698
Net income
$279,993
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.51$2.79$3.71$2.83$3.51$0.68
2024Detailed filing. Detailed filing data is available for this year.$9.40$5.01$4.39$1.44$1.13$0.31
2023Detailed filing. Detailed filing data is available for this year.$9.60$5.52$4.08$0.64$0.61$0.03
2022Detailed filing. Detailed filing data is available for this year.$8.43$4.39$4.05$0.40$0.12$0.28
2021Detailed filing. Detailed filing data is available for this year.$8.01$4.24$3.77$0.64$0.68$0.03
2020Detailed filing. Detailed filing data is available for this year.$8.32$4.52$3.80$3.27$3.59$0.32
2019Detailed filing. Detailed filing data is available for this year.$11.3$7.20$4.12$0.43$0.08$0.35
2018Detailed filing. Detailed filing data is available for this year.$10.5$6.69$3.77$0.47$0.22$0.24
2017Detailed filing. Detailed filing data is available for this year.$10.0$6.52$3.52$0.19$0.04$0.15
2016Detailed filing. Detailed filing data is available for this year.$6.72$3.32$3.40$0.28$0.08$0.20
2015Detailed filing. Detailed filing data is available for this year.$4.90$1.70$3.20$0.32$0.11$0.20
2014Detailed filing. Detailed filing data is available for this year.$4.41$1.42$2.99$0.17$0.04$0.13
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.69$0.84$2.86$0.17
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.45$1.05$2.41$0.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.30$1.16$2.14$0.19