Civic Intelligence

Cherokee Area Economic Development

990 • Fiscal year 2018 • EIN 42-1336335

Jul 01, 2017 to Jun 30, 2018 • Filed on Sep 05, 2018

Organization ProfileCHEROKEEIA.COM
201 West Main StreetCherokee, IA 51012

(712) 225-5739

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.27x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

94th percentile

0.78x

Higher debt load relative to revenue than 94% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Net Margin

11th percentile

-12%

Higher net margin than 11% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

42nd percentile

$0

Higher top officer pay than 42% of similar nonprofits.

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

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Asset Growth

26th percentile

-5.7%

Faster asset growth than 26% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

39th percentile

-0.3%

Faster revenue growth than 39% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$704,003

Down $42,432 (-5.7%) from 2017

Net Assets

Down

$514,285

Down $29,882 (-5.5%) from 2017

Liabilities

Down

$189,718

Down $12,550 (-6.2%) from 2017

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin11th percentile

Revenue

Down

$243,536

Down $616 (-0.3%) from 2017

Expenses

Up

$273,418

Up $60,915 (+29%) from 2017

Net Income

Down

-$29,882

Down $61,531 (-194%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth26th percentile

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

$1.5M$1.0M$500K$0Assets 2012: $705,331Liabilities 2012: $272,416Net Assets 2012: $432,9152012Assets 2013: $934,708Liabilities 2013: $469,724Net Assets 2013: $464,9842013Assets 2014: $1,023,356Liabilities 2014: $452,405Net Assets 2014: $570,9512014Assets 2015: $782,789Liabilities 2015: $235,641Net Assets 2015: $547,1482015Assets 2016: $727,876Liabilities 2016: $215,358Net Assets 2016: $512,5182016Assets 2017: $746,435Liabilities 2017: $202,268Net Assets 2017: $544,1672017Assets 2018: $704,003Liabilities 2018: $189,718Net Assets 2018: $514,2852018Assets 2019: $704,640Liabilities 2019: $173,739Net Assets 2019: $530,9012019Assets 2020: $697,454Liabilities 2020: $170,296Net Assets 2020: $527,1582020Assets 2021: $761,110Liabilities 2021: $130,148Net Assets 2021: $630,9622021Assets 2022: $745,721Liabilities 2022: $82,271Net Assets 2022: $663,4502022Assets 2023: $801,679Liabilities 2023: $49,287Net Assets 2023: $752,3922023Assets 2024: $842,966Liabilities 2024: $39,933Net Assets 2024: $803,0332024Assets 2025: $865,278Liabilities 2025: $21,233Net Assets 2025: $844,0452025

Highlighted filing

2018

Assets$704,003
Liabilities$189,718
Net Assets$514,285
Open 2018 Filing

Operations Trend

Revenue Growth39th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2012: $238,056Expenses 2012: $168,767Net Income 2012: $69,2892012Revenue 2013: $214,200Expenses 2013: $182,131Net Income 2013: $32,0692013Revenue 2014: $313,200Expenses 2014: $207,233Net Income 2014: $105,9672014Revenue 2015: $190,387Expenses 2015: $214,190Net Income 2015: -$23,8032015Revenue 2016: $183,191Expenses 2016: $217,821Net Income 2016: -$34,6302016Revenue 2017: $244,152Expenses 2017: $212,503Net Income 2017: $31,6492017Revenue 2018: $243,536Expenses 2018: $273,418Net Income 2018: -$29,8822018Revenue 2019: $237,996Expenses 2019: $221,380Net Income 2019: $16,6162019Revenue 2020: $237,446Expenses 2020: $241,189Net Income 2020: -$3,7432020Revenue 2021: $328,688Expenses 2021: $224,884Net Income 2021: $103,8042021Revenue 2022: $256,561Expenses 2022: $224,073Net Income 2022: $32,4882022Revenue 2023: $284,440Expenses 2023: $195,498Net Income 2023: $88,9422023Revenue 2024: $309,867Expenses 2024: $259,226Net Income 2024: $50,6412024Revenue 2025: $298,105Expenses 2025: $257,093Net Income 2025: $41,0122025

Highlighted filing

2018

Revenue$243,536
Expenses$273,418
Net Income-$29,882
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Sep 5, 2018
Return Version
2017v2.3
Gross Receipts
$244,072
Mission and Program Overview

Mission

Economic development of the cherokee area

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$272,289$249,183▼ $23,106
Other Notes and Loans Receivable, Net$176,860$153,242▼ $23,618
Savings and Temporary Cash Investments$59,963$60,053▲ $90
Land, Buildings, and Equipment, Net$9,888$11,440▲ $1,552
Accounts Receivable$2,506$604▼ $1,902
Prepaid Expenses and Deferred Charges$323$290▼ $33
Total Assets$746,435$704,003▼ $42,432
Other Assets Total$224,606$229,191▲ $4,585
Liabilities
Other Liabilities$188,074$175,097▼ $12,977
Accounts Payable and Accrued Expenses$14,194$14,621▲ $427
Total Liabilities$202,268$189,718▼ $12,550
Net Assets / Fund Balance
Unrestricted Net Assets$427,172$402,199▼ $24,973
Permanently Rstr Net Assets$116,995$112,086▼ $4,909
Total Net Assets Fund Balance$544,167$514,285▼ $29,882
Total Liabilities and Net Assets / Fund Balance$746,435$704,003▼ $42,432

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$11,440$12,557$23,997
Other Assets Org$4,000--
Compensation and Service Providers
Top Officer Pay42nd percentile

Board Members and Trustees

NameTitle
Brian FreedPresident
Amy LoughlinBoard Member
Chad BrownBoard Member
Clay LeavittBoard Member
Curt JohnsonBoard Member
Don ParrottBoard Member
Joe SchlengerBoard Member
Les ToddBoard Member
Mark PierceBoard Member
Mike DunnBoard Member
Rick MonganBoard Member
Willie AllbaughBoard Member
Andy CarlsonSecretary
Chris JennessTreasurer
Brenda PerrinVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$224,604
Program Service Revenue
$0
Investment Income
$5,058
Other Revenue
$13,874
All Other Contributions
$224,604
Change in Net Assets
$-29,882

Audited Revenue Reconciliation

Revenue per Audited Statements
$243,536
Total Revenue per Audited Statements
$243,536
Total Revenue per Form 990
$243,536
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$137,866
Other Expenses$135,552
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$73,722--$73,722
Fees for Services Other$72,158--$72,158
Other Salaries and Wages$34,971--$34,971
Other Employee Benefits$17,549--$17,549
Occupancy$9,199--$9,199
Payroll Taxes$9,012--$9,012
Fees for Services Accounting$6,544--$6,544
Advertising$5,377--$5,377
Travel$5,149--$5,149
All Other Expenses$5,129--$5,129
Conferences and Meetings$4,413--$4,413
Other Expenses$2,657--$2,657
Pension Plan Contributions$2,612--$2,612
Depreciation Depletion$2,192--$2,192
Interest$1,808--$1,808
Total Functional Expenses$273,418$0$0$273,418

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$273,418
Total Expenses per Audited Statements$273,418
Total Expenses per Form 990$273,418
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
Notes Payable$175,097
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“Board reviews and approves”

Form 990, Page 6, Part VI, Line 12C

“Monthly board meetings review compliance with the written conflict of interest policy.”

Form 990, Page 6, Part VI, Line 19

“Auditor's report is available upon request at the office of cherokee area economic development. Form 990 can be viewed upon request at the business office.”

Filing and Contact Details

Filer

Filer Name
Cherokee Area Economic Development
EIN
42-1336335
Phone
7122255739
Address
201 WEST MAIN STREET, CHEROKEE, IA 51012

Signing Officer

Name
Brian Freed
Title
President
Phone
7122255739
Signed
2018-09-05

Organization Details

Principal Officer
Brian Freed
Voting Board Members
15
Independent Board Members
15
Employees
7

Preparer

Firm
Burkhardt & Dawson Cpas
Address
793 NORTH SECOND STREET, CHEROKEE, IA 51012
Preparer
Donna R Burkhardt CPA
Phone
7122255755
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contract labor 34,556 0 0 engineering & surveying 37,602 0 0 total 72,158 0 0”

Raw XML Appendix388 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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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
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IRS990/PayrollTaxesGrp/ProgramServicesAmt09012
IRS990/PayrollTaxesGrp/TotalAmt09012
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt02612
IRS990/PensionPlanContributionsGrp/TotalAmt02612
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt0116995
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt0112086
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0323
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0290
IRS990/PrincipalOfficerNm0BRIAN FREED
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0212248
IRS990/PYInvestmentIncomeAmt06684
IRS990/PYOtherExpensesAmt075326
IRS990/PYOtherRevenueAmt025220
IRS990/PYRevenuesLessExpensesAmt031649
IRS990/PYSalariesCompEmpBnftPaidAmt0137177
IRS990/PYTotalExpensesAmt0212503
IRS990/PYTotalRevenueAmt0244152
IRS990/ReconcilationRevenueExpnssAmt0-29882
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt059963
IRS990/SavingsAndTempCashInvstGrp/EOYAmt060053
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0273418
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0216496
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt18695
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt24000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENT CHEROKEE DEV
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM RLF
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2FORGIVABLE LOANS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt011440
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt012557
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt023997
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0175097
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0243536
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011440
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0229191
IRS990ScheduleD/TotalExpensesPerForm990Amt0273418
IRS990ScheduleD/TotalLiabilityAmt0175097
IRS990ScheduleD/TotalRevenuePerForm990Amt0243536
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0243536
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0273418
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD REVIEWS AND APPROVES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MONTHLY BOARD MEETINGS REVIEW COMPLIANCE WITH THE WRITTEN CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AUDITOR'S REPORT IS AVAILABLE UPON REQUEST AT THE OFFICE OF CHEROKEE AREA ECONOMIC DEVELOPMENT. FORM 990 CAN BE VIEWED UPON REQUEST AT THE BUSINESS OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONTRACT LABOR 34,556 0 0 ENGINEERING & SURVEYING 37,602 0 0 TOTAL 72,158 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0746435
IRS990/TotalAssetsEOYAmt0704003
IRS990/TotalAssetsGrp/BOYAmt0746435
IRS990/TotalAssetsGrp/EOYAmt0704003
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0224604
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0273418
IRS990/TotalFunctionalExpensesGrp/TotalAmt0273418
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0202268
IRS990/TotalLiabilitiesEOYAmt0189718
IRS990/TotalLiabilitiesGrp/BOYAmt0202268
IRS990/TotalLiabilitiesGrp/EOYAmt0189718
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0544167
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0514285
IRS990/TotalProgramServiceExpensesAmt0273418
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt018932
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0243536
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0746435
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0704003
IRS990/TravelGrp/ProgramServicesAmt05149
IRS990/TravelGrp/TotalAmt05149
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0427172
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0402199
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0CHEROKEEIA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN FREED
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07122255739
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHEROKEE AREA ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessNameControlTxt0CHER
ReturnHeader/Filer/EIN0421336335
ReturnHeader/Filer/PhoneNum07122255739
ReturnHeader/Filer/USAddress/AddressLine1Txt0201 WEST MAIN STREET
ReturnHeader/Filer/USAddress/CityNm0CHEROKEE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051012
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId02965A471477C21EB5169D2BCD83B1EECAC191A7E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D3B6FBFBC6F007C99D423F09B9855F1BAE41CABA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.215.11.9
ReturnHeader/FilingSecurityInformation/IPDt02018-09-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:19:30
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201892306
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BURKHARDT & DAWSON CPAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0793 NORTH SECOND STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHEROKEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd051012
ReturnHeader/PreparerPersonGrp/PhoneNum07122255755
ReturnHeader/PreparerPersonGrp/PreparationDt02018-09-05
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DONNA R BURKHARDT CPA
ReturnHeader/ReturnTs02018-09-26T14:19:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$704,003
Liabilities
$189,718
Net assets
$514,285
Revenue
$243,536
Expenses
$273,418
Net income
-$29,882
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.02$0.84$0.30$0.26$0.04
2024Detailed filing. Detailed filing data is available for this year.$0.84$0.04$0.80$0.31$0.26$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.80$0.05$0.75$0.28$0.20$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.75$0.08$0.66$0.26$0.22$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.76$0.13$0.63$0.33$0.22$0.10
2020Detailed filing. Detailed filing data is available for this year.$0.70$0.17$0.53$0.24$0.24$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.70$0.17$0.53$0.24$0.22$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.70$0.19$0.51$0.24$0.27$0.03
2017Detailed filing. Detailed filing data is available for this year.$0.75$0.20$0.54$0.24$0.21$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.73$0.22$0.51$0.18$0.22$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.78$0.24$0.55$0.19$0.21$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.02$0.45$0.57$0.31$0.21$0.11
2013Summary only. Only limited summary data is available for this year.$0.93$0.47$0.46$0.21$0.18$0.03
2012Summary only. Only limited summary data is available for this year.$0.71$0.27$0.43$0.24$0.17$0.07