Civic Intelligence

Marion Economic Development Company

990 • Fiscal year 2016 • EIN 42-1318828

Jan 01, 2016 to Dec 31, 2016 • Filed on Apr 13, 2017

Organization ProfileWWW.MEDCOIOWA.ORG

View Organization Page

1225 6th Ave Ste 100Marion, IA 52302

(319) 743-4724

Siviq Scores

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

Liabilities / Assets

24th percentile

0.09x

Higher debt load relative to assets than 24% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

2.68x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Net Margin

34th percentile

0.4%

Higher net margin than 34% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

14th percentile

$99,535

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 35.6% of source-year revenue.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2016

Asset Growth

32nd percentile

-0.5%

Faster asset growth than 32% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

1st percentile

-95%

Faster revenue growth than 1% of similar nonprofits.

2016 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets24th percentile

Assets

Down

$8,446,795

Down $44,830 (-0.5%) from 2015

Net Assets

Up

$7,698,535

Up $35,595 (+0.5%) from 2015

Liabilities

Down

$748,260

Down $80,425 (-9.7%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin34th percentile

Revenue

Down

$279,475

Down $5,024,305 (-95%) from 2015

Expenses

Down

$278,255

Down $82,524 (-23%) from 2015

Net Income

Down

$1,220

Down $4,941,781 (-100%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth32nd percentile

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

$15M$10M$5.0M$0Assets 2010: $4,806,682Liabilities 2010: $4,337,905Net Assets 2010: $468,7772010Assets 2011: $6,831,694Liabilities 2011: $6,236,275Net Assets 2011: $595,4192011Assets 2012: $7,160,051Liabilities 2012: $6,087,985Net Assets 2012: $1,072,0662012Assets 2013: $7,253,089Liabilities 2013: $5,976,458Net Assets 2013: $1,276,6312013Assets 2014: $9,351,534Liabilities 2014: $6,631,595Net Assets 2014: $2,719,9392014Assets 2015: $8,491,625Liabilities 2015: $828,685Net Assets 2015: $7,662,9402015Assets 2016: $8,446,795Liabilities 2016: $748,260Net Assets 2016: $7,698,5352016Assets 2017: $8,658,624Liabilities 2017: $949,945Net Assets 2017: $7,708,6792017Assets 2018: $8,129,312Liabilities 2018: $744,124Net Assets 2018: $7,385,1882018Assets 2019: $7,932,835Liabilities 2019: $539,418Net Assets 2019: $7,393,4172019Assets 2020: $11,252,894Liabilities 2020: $1,133,521Net Assets 2020: $10,119,3732020Assets 2021: $12,671,429Liabilities 2021: $2,221,947Net Assets 2021: $10,449,4822021Assets 2022: $12,817,378Liabilities 2022: $2,194,474Net Assets 2022: $10,622,9042022Assets 2023: $12,644,520Liabilities 2023: $2,021,534Net Assets 2023: $10,622,9862023Assets 2024: $12,384,509Liabilities 2024: $1,845,684Net Assets 2024: $10,538,8252024

Highlighted filing

2016

Assets$8,446,795
Liabilities$748,260
Net Assets$7,698,535
Open 2016 Filing

Operations Trend

Revenue Growth1st percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $290,8102010Expenses 2011: $466,6142011Expenses 2012: $414,4492012Revenue 2013: $802,846Expenses 2013: $597,970Net Income 2013: $204,8762013Revenue 2014: $2,363,053Expenses 2014: $1,572,529Net Income 2014: $790,5242014Revenue 2015: $5,303,780Expenses 2015: $360,779Net Income 2015: $4,943,0012015Revenue 2016: $279,475Expenses 2016: $278,255Net Income 2016: $1,2202016Revenue 2017: $272,841Expenses 2017: $271,099Net Income 2017: $1,7422017Revenue 2018: $574,250Expenses 2018: $573,742Net Income 2018: $5082018Revenue 2019: $365,747Expenses 2019: $357,518Net Income 2019: $8,2292019Revenue 2020: $662,428Expenses 2020: $786,472Net Income 2020: -$124,0442020Revenue 2021: $1,299,817Expenses 2021: $970,532Net Income 2021: $329,2852021Revenue 2022: $882,633Expenses 2022: $708,220Net Income 2022: $174,4132022Revenue 2023: $496,769Expenses 2023: $496,685Net Income 2023: $842023Revenue 2024: $470,835Expenses 2024: $554,768Net Income 2024: -$83,9332024

Highlighted filing

2016

Revenue$279,475
Expenses$278,255
Net Income$1,220
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Apr 13, 2017
Return Version
2016v3.0
Gross Receipts
$279,475
Mission and Program Overview

Mission

To strengthen and enhance economic development in marion

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$7,662,940$7,698,535▲ $35,595
Land, Buildings, and Equipment, Net$6,459,090$6,542,682▲ $83,592
Savings and Temporary Cash Investments$1,096,965$1,017,118▼ $79,847
Other Notes and Loans Receivable, Net$935,570$886,995▼ $48,575
Total Assets$8,491,625$8,446,795▼ $44,830
Liabilities
Mortgage Notes Payable Secured by Investment Property$828,685$743,425▼ $85,260
Accounts Payable and Accrued Expenses-$4,835-
Total Liabilities$828,685$748,260▼ $80,425
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,662,940$7,698,535▲ $35,595
Total Liabilities and Net Assets / Fund Balance$8,491,625$8,446,795▼ $44,830

Asset Categories

AssetBook ValueDepreciationBasis
Land$6,466,206--
Equipment$76,476$4,483-
Compensation and Service Providers
Top Officer Pay14th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nick GlewPresidentFT$99,535$99,535

Board Members and Trustees

NameTitle
Ray BrownChair
Lee EilersIncoming Chair
Tom BarnesPast Chair
Alan ProwseDirector
Bill BogertDirector
Brent OlesonDirector
Brian GibbsDirector
Cheri PoppDirector
Chris DyerDirector
Corbin MollmanDirector
Dave MartinDirector
Kevin HuppDirector
Lon PluckhahnDirector
Mary MeisterlingDirector
Mary RathjeDirector
Maxwell GrantDirector
Quintin ShepherdDirector
Steve CarrollDirector
Steve NeighborDirector
Tim MooneyDirector
Eric HannaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$243,350
Program Service Revenue
$21,320
Investment Income
$2,525
Other Revenue
$12,280
Change in Net Assets
$1,220
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$157,472
Other Expenses$105,181
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$49,767$49,768-$99,535
Advertising$60,286--$60,286
Other Salaries and Wages$57,937--$57,937
Benefits to Members$15,602--$15,602
Occupancy-$14,860-$14,860
Conferences and Meetings$8,486--$8,486
Fees for Services Accounting-$5,791-$5,791
Office Expenses-$4,958-$4,958
Travel$2,597--$2,597
Fees for Services Legal$2,479--$2,479
Depreciation Depletion$1,365--$1,365
Other Expenses$242--$242
Total Functional Expenses$202,878$75,377$0$278,255
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
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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

“Governing documents are available to the public upon request at the main office of the organization.”

Governing documents etc available to public Part VI line 19

“Documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Marion Economic Development Company
EIN
42-1318828
Address
1225 6TH AVE STE 100, MARION, IA 52302

Signing Officer

Name
Nick Glew
Title
President
Phone
3197434724
Signed
2017-04-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nick Glew
Formed
1985
Legal Domicile
Ia
Voting Board Members
22
Independent Board Members
22
Employees
3
Volunteers
27

Preparer

Firm
Classic Tax and Accounting LLC
Address
888 10th St Ste 2, Marion, IA 52302
Preparer
Nathaniel Livingston
Phone
3194474429
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IRS990/Form990PartVIISectionAGrp/TitleTxt3INCOMING CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21PRESIDENT
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IRS990/FormationYr01985
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IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt022
IRS990/GovernmentGrantsAmt035000
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt0279475
IRS990/GrossRentsGrp/RealAmt012280
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0false
IRS990/IndependentVotingMemberCnt022
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IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt02525
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt06459090
IRS990/LandBldgEquipBasisNetGrp/EOYAmt06542682
IRS990/LandBldgEquipCostOrOtherBssAmt06547165
IRS990/LegalDomicileStateCd0IA
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO STRENGTHEN AND ENHANCE ECONOMIC DEVELOPMENT IN MARION
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0828685
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt0743425
IRS990/NetAssetsOrFundBalancesBOYAmt07662940
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IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt012280
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt012280
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd0true
IRS990/NondeductibleContriDisclInd0true
IRS990/OccupancyGrp/ManagementAndGeneralAmt014860
IRS990/OccupancyGrp/TotalAmt014860
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04958
IRS990/OfficeExpensesGrp/TotalAmt04958
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0COMMUNITY SUPPORT
IRS990/OtherExpensesGrp/Desc1ASSOCIATION DUES
IRS990/OtherExpensesGrp/Desc2MISC
IRS990/OtherExpensesGrp/Desc3REPAIRS
IRS990/OtherExpensesGrp/ProgramServicesAmt01440
IRS990/OtherExpensesGrp/ProgramServicesAmt1335
IRS990/OtherExpensesGrp/ProgramServicesAmt22342
IRS990/OtherExpensesGrp/ProgramServicesAmt3242
IRS990/OtherExpensesGrp/TotalAmt01440
IRS990/OtherExpensesGrp/TotalAmt1335
IRS990/OtherExpensesGrp/TotalAmt22342
IRS990/OtherExpensesGrp/TotalAmt3242
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt057937
IRS990/OtherSalariesAndWagesGrp/TotalAmt057937
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0935570
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0886995
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0NICK GLEW
IRS990/PriorPeriodAdjustmentsAmt034375
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/Desc0ANNUAL MEETING INCOME
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt021320
IRS990/ProgSrvcAccomActy2Grp/Desc0ESTABLISH RELATIONSHIPS WITH POTENTIAL NEW BUSINESSES TO MOVE INTO MARION
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt084743
IRS990/ProgSrvcAccomActy3Grp/Desc0TRANSITION BARE FARMLAND INTO SHOVEL READY COMMERCIAL PROPERTY TO FACILITATE ECONOMIC GROWTH IN MARION
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt01120
IRS990/PYContributionsGrantsAmt05120347
IRS990/PYInvestmentIncomeAmt01094
IRS990/PYOtherExpensesAmt0218186
IRS990/PYOtherRevenueAmt014800
IRS990/PYProgramServiceRevenueAmt0167539
IRS990/PYRevenuesLessExpensesAmt04943001
IRS990/PYSalariesCompEmpBnftPaidAmt0141473
IRS990/PYTotalExpensesAmt0360779
IRS990/PYTotalRevenueAmt05303780
IRS990/ReconcilationRevenueExpnssAmt01220
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IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt012280
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt07662940
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt01017118
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/EquipmentGrp/BookValueAmt076476
IRS990ScheduleD/EquipmentGrp/DepreciationAmt04483
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt080959
IRS990ScheduleD/LandGrp/BookValueAmt06466206
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt06466206
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06542682
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE MAIN OFFICE OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990/SchoolOperatingInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08491625
IRS990/TotalAssetsEOYAmt08446795
IRS990/TotalAssetsGrp/BOYAmt08491625
IRS990/TotalAssetsGrp/EOYAmt08446795
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0243350
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt075377
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0202878
IRS990/TotalFunctionalExpensesGrp/TotalAmt0278255

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,446,795
Liabilities
$748,260
Net assets
$7,698,535
Revenue
$279,475
Expenses
$278,255
Net income
$1,220
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$12.4$1.85$10.5$0.47$0.55$0.08
2023Detailed filing. Detailed filing data is available for this year.$12.6$2.02$10.6$0.50$0.50$0.00
2022Detailed filing. Detailed filing data is available for this year.$12.8$2.19$10.6$0.88$0.71$0.17
2021Detailed filing. Detailed filing data is available for this year.$12.7$2.22$10.4$1.30$0.97$0.33
2020Detailed filing. Detailed filing data is available for this year.$11.3$1.13$10.1$0.66$0.79$0.12
2019Detailed filing. Detailed filing data is available for this year.$7.93$0.54$7.39$0.37$0.36$0.01
2018Detailed filing. Detailed filing data is available for this year.$8.13$0.74$7.39$0.57$0.57$0.00
2017Detailed filing. Detailed filing data is available for this year.$8.66$0.95$7.71$0.27$0.27$0.00
2016Detailed filing. Detailed filing data is available for this year.$8.45$0.75$7.70$0.28$0.28$0.00
2015Detailed filing. Detailed filing data is available for this year.$8.49$0.83$7.66$5.30$0.36$4.94
2014Detailed filing. Detailed filing data is available for this year.$9.35$6.63$2.72$2.36$1.57$0.79
2013Detailed filing. Detailed filing data is available for this year.$7.25$5.98$1.28$0.80$0.60$0.20
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.16$6.09$1.07$0.41
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.83$6.24$0.60$0.47
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.81$4.34$0.47$0.29