Civic Intelligence

Marion Economic Development Company

990 • Fiscal year 2017 • EIN 42-1318828

Jan 01, 2017 to Dec 31, 2017 • Filed on Aug 28, 2018

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

30th percentile

0.11x

Higher debt load relative to assets than 30% of similar nonprofits.

2017 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

3.48x

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

2017 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2017

Net Margin

33rd percentile

0.6%

Higher net margin than 33% of similar nonprofits.

2017 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

13th percentile

$93,182

Higher top officer pay than 13% of similar nonprofits.

Top officer pay equals 34.2% of source-year revenue.

2017 filings • 501(c)6 • $5M-$10M nonprofits • Source year 2017

Asset Growth

36th percentile

2.5%

Faster asset growth than 36% of similar nonprofits.

2017 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

26th percentile

-2.4%

Faster revenue growth than 26% of similar nonprofits.

2017 filings • 501(c)6 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets30th percentile

Assets

Up

$8,658,624

Up $211,829 (+2.5%) from 2016

Net Assets

Up

$7,708,679

Up $10,144 (+0.1%) from 2016

Liabilities

Up

$949,945

Up $201,685 (+27%) from 2016

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin33rd percentile

Revenue

Down

$272,841

Down $6,634 (-2.4%) from 2016

Expenses

Down

$271,099

Down $7,156 (-2.6%) from 2016

Net Income

Up

$1,742

Up $522 (+43%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth36th 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

2017

Assets$8,658,624
Liabilities$949,945
Net Assets$7,708,679
Open 2017 Filing

Operations Trend

Revenue Growth26th 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

2017

Revenue$272,841
Expenses$271,099
Net Income$1,742
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Aug 28, 2018
Return Version
2017v2.2
Gross Receipts
$272,841
Mission and Program Overview

Mission

To strengthen and enhance economic development in marion

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$7,698,535$7,708,679▲ $10,144
Land, Buildings, and Equipment, Net$6,542,682$6,235,797▼ $306,885
Other Notes and Loans Receivable, Net$886,995$1,411,510▲ $524,515
Savings and Temporary Cash Investments$1,017,118$1,011,317▼ $5,801
Total Assets$8,446,795$8,658,624▲ $211,829
Liabilities
Mortgage Notes Payable Secured by Investment Property$743,425$947,284▲ $203,859
Accounts Payable and Accrued Expenses$4,835$2,661▼ $2,174
Total Liabilities$748,260$949,945▲ $201,685
Net Assets / Fund Balance
Total Net Assets Fund Balance$7,698,535$7,708,679▲ $10,144
Total Liabilities and Net Assets / Fund Balance$8,446,795$8,658,624▲ $211,829

Asset Categories

AssetBook ValueDepreciationBasis
Land$6,146,894--
Equipment$88,903$10,648-
Compensation and Service Providers
Top Officer Pay13th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Nick GlewPresidentFT$93,182$93,182

Board Members and Trustees

NameTitle
Lee EilersChairman
Cheri MonahanIncoming Chair
Ray BrownOutgoing Chair
Alan ProwseDirector
Brian GibbsDirector
Brian RosteckDirector
Chris DyerDirector
Corbin MollmanDirector
Kevin HuppDirector
Kyle MartinDirector
Lon PluckhahnDirector
Mary MeisterlingDirector
Mary RathjeDirector
Maxwell GrantDirector
Quintin ShepherdDirector
Scott StephensDirector
Steve CarrollDirector
Steve NeighborDirector
Tom BarnesDirector
Bill BogertAt Large
Eric HannaTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$222,270
Program Service Revenue
$37,364
Investment Income
$3,627
Other Revenue
$9,580
Change in Net Assets
$1,742
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$178,728
Other Expenses$76,832
Grants and Similar Amounts Paid$1,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$46,591$46,591-$93,182
Other Salaries and Wages$85,546--$85,546
Advertising$28,439--$28,439
Benefits to Members$14,539--$14,539
Occupancy-$13,500-$13,500
Fees for Services Legal$8,023--$8,023
Conferences and Meetings$7,486--$7,486
Depreciation Depletion$6,165--$6,165
Travel$3,892--$3,892
Fees for Services Accounting-$3,390-$3,390
Office Expenses-$3,289-$3,289
Grants to Domestic Orgs$1,000--$1,000
Other Expenses$15--$15
Total Functional Expenses$204,329$66,770$0$271,099
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
2018-08-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nick Glew
Formed
1985
Legal Domicile
Ia
Voting Board Members
23
Independent Board Members
23
Employees
2
Volunteers
45

Preparer

Firm
Classic Tax and Accounting LLC
Address
888 10th St Ste 2, Marion, IA 52302
Preparer
John E Hicks EA
Phone
3194474429
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IRS990/Form990PartVIISectionAGrp/TitleTxt0TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2OUTGOING CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt3CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt4AT LARGE
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/TitleTxt19INCOMING CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22PRESIDENT
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IRS990/FSAuditedInd0false
IRS990/FundraisingActivitiesInd0false
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt023
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IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt01000
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IRS990/GrantsToOrganizationsInd0false
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IRS990/GrossReceiptsAmt0272841
IRS990/GrossRentsGrp/RealAmt09580
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IRS990/IRPDocumentCnt02
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt06542682
IRS990/LandBldgEquipBasisNetGrp/EOYAmt06235797
IRS990/LandBldgEquipCostOrOtherBssAmt06246445
IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO STRENGTHEN AND ENHANCE ECONOMIC DEVELOPMENT IN MARION
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt07708679
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IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt09580
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd0true
IRS990/NondeductibleContriDisclInd0true
IRS990/OccupancyGrp/ManagementAndGeneralAmt013500
IRS990/OccupancyGrp/TotalAmt013500
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03289
IRS990/OfficeExpensesGrp/TotalAmt03289
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0COMMUNITY SUPPORT
IRS990/OtherExpensesGrp/Desc1ASSOCIATION DUES
IRS990/OtherExpensesGrp/Desc2MISC
IRS990/OtherExpensesGrp/Desc3REPAIRS
IRS990/OtherExpensesGrp/ProgramServicesAmt0750
IRS990/OtherExpensesGrp/ProgramServicesAmt1755
IRS990/OtherExpensesGrp/ProgramServicesAmt21128
IRS990/OtherExpensesGrp/ProgramServicesAmt315
IRS990/OtherExpensesGrp/TotalAmt0750
IRS990/OtherExpensesGrp/TotalAmt1755
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IRS990/OtherExpensesGrp/TotalAmt315
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt085546
IRS990/OtherSalariesAndWagesGrp/TotalAmt085546
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0886995
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt01411510
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0NICK GLEW
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IRS990/ProfessionalFundraisingInd0false
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IRS990/PYOtherRevenueAmt012280
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IRS990/PYRevenuesLessExpensesAmt01220
IRS990/PYSalariesCompEmpBnftPaidAmt0157472
IRS990/PYTotalExpensesAmt0278255
IRS990/PYTotalRevenueAmt0279475
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt088903
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010648
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt099551
IRS990ScheduleD/LandGrp/BookValueAmt06146894
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt06146894
IRS990ScheduleD/TotalBookValueLandBuildingsAmt06235797
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
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IRS990/TotalAssetsEOYAmt08658624
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0222270
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,658,624
Liabilities
$949,945
Net assets
$7,708,679
Revenue
$272,841
Expenses
$271,099
Net income
$1,742
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