Civic Intelligence

Cherokee Area Economic Development

990 • Fiscal year 2019 • EIN 42-1336335

Jul 01, 2018 to Jun 30, 2019 • Filed on Sep 13, 2019

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

0.25x

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

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

94th percentile

0.73x

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

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Net Margin

61st percentile

7.0%

Higher net margin than 61% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

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

2019 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2019

Asset Growth

35th percentile

0.1%

Faster asset growth than 35% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

31st percentile

-2.3%

Faster revenue growth than 31% of similar nonprofits.

2019 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$704,640

Up $637 (+0.1%) from 2018

Net Assets

Up

$530,901

Up $16,616 (+3.2%) from 2018

Liabilities

Down

$173,739

Down $15,979 (-8.4%) from 2018

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin61st percentile

Revenue

Down

$237,996

Down $5,540 (-2.3%) from 2018

Expenses

Down

$221,380

Down $52,038 (-19%) from 2018

Net Income

Up

$16,616

Up $46,498 (+156%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth35th 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

2019

Assets$704,640
Liabilities$173,739
Net Assets$530,901
Open 2019 Filing

Operations Trend

Revenue Growth31st 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

2019

Revenue$237,996
Expenses$221,380
Net Income$16,616
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Sep 13, 2019
Return Version
2018v3.1
Gross Receipts
$237,996
Mission and Program Overview

Mission

Economic development of the cherokee area

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$249,183$255,986▲ $6,803
Other Notes and Loans Receivable, Net$153,242$151,447▼ $1,795
Savings and Temporary Cash Investments$60,053$60,144▲ $91
Land, Buildings, and Equipment, Net$11,440$9,418▼ $2,022
Accounts Receivable$604$709▲ $105
Prepaid Expenses and Deferred Charges$290$295▲ $5
Total Assets$704,003$704,640▲ $637
Other Assets Total$229,191$226,641▼ $2,550
Liabilities
Other Liabilities$175,097$161,990▼ $13,107
Accounts Payable and Accrued Expenses$14,621$11,749▼ $2,872
Total Liabilities$189,718$173,739▼ $15,979
Net Assets / Fund Balance
Unrestricted Net Assets$402,199$423,720▲ $21,521
Permanently Rstr Net Assets$112,086$107,181▼ $4,905
Total Net Assets Fund Balance$514,285$530,901▲ $16,616
Total Liabilities and Net Assets / Fund Balance$704,003$704,640▲ $637

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$6,500--
Compensation and Service Providers
Top Officer Pay43rd 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
$232,079
Program Service Revenue
$0
Investment Income
$5,109
Other Revenue
$808
All Other Contributions
$232,079
Change in Net Assets
$16,616

Audited Revenue Reconciliation

Revenue per Audited Statements
$237,996
Total Revenue per Audited Statements
$237,996
Total Revenue per Form 990
$237,996
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$152,381
Other Expenses$68,999
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$80,000--$80,000
Other Salaries and Wages$37,648--$37,648
Other Employee Benefits$22,304--$22,304
Fees for Services Other$12,978--$12,978
Fees for Services Accounting$10,068--$10,068
Occupancy$9,961--$9,961
Payroll Taxes$9,670--$9,670
All Other Expenses$6,675--$6,675
Advertising$5,943--$5,943
Conferences and Meetings$5,213--$5,213
Travel$4,617--$4,617
Pension Plan Contributions$2,759--$2,759
Depreciation Depletion$2,022--$2,022
Interest$1,645--$1,645
Other Expenses$1,523--$1,523
Total Functional Expenses$221,380$0$0$221,380

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$221,380
Total Expenses per Audited Statements$221,380
Total Expenses per Form 990$221,380
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$161,990
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
2019-09-13

Organization Details

Principal Officer
Brian Freed
Voting Board Members
15
Independent Board Members
15
Employees
4

Preparer

Firm
Burkhardt & Dawson Cpas
Address
793 NORTH SECOND STREET, CHEROKEE, IA 51012
Preparer
Donna R Burkhardt CPA
Phone
7122255755
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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/PYOtherExpensesAmt0135552
IRS990/PYOtherRevenueAmt013874
IRS990/PYRevenuesLessExpensesAmt0-29882
IRS990/PYSalariesCompEmpBnftPaidAmt0137866
IRS990/PYTotalExpensesAmt0273418
IRS990/PYTotalRevenueAmt0243536
IRS990/ReconcilationRevenueExpnssAmt016616
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt060053
IRS990/SavingsAndTempCashInvstGrp/EOYAmt060144
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0221380
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0211771
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt18370
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt26500
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENT CHEROKEE DEV
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM RLF
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2FORGIVABLE LOANS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0161990
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0237996
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0226641
IRS990ScheduleD/TotalExpensesPerForm990Amt0221380
IRS990ScheduleD/TotalLiabilityAmt0161990
IRS990ScheduleD/TotalRevenuePerForm990Amt0237996
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0237996
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0221380
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/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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0704003
IRS990/TotalAssetsEOYAmt0704640
IRS990/TotalAssetsGrp/BOYAmt0704003
IRS990/TotalAssetsGrp/EOYAmt0704640
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0232079
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0221380
IRS990/TotalFunctionalExpensesGrp/TotalAmt0221380
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0189718
IRS990/TotalLiabilitiesEOYAmt0173739
IRS990/TotalLiabilitiesGrp/BOYAmt0189718
IRS990/TotalLiabilitiesGrp/EOYAmt0173739
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0514285
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0530901
IRS990/TotalProgramServiceExpensesAmt0221380
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05917
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0237996
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0704003
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0704640
IRS990/TravelGrp/ProgramServicesAmt04617
IRS990/TravelGrp/TotalAmt04617
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0402199
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0423720
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0CHEROKEEIA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN FREED
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07122255739
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-09-13
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/AtSubmissionCreationDeviceId0185F4A1AEFBBF0FCFA10EBFDEEBF8C691D21A85D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D3B6FBFBC6F007C99D423F09B9855F1BAE41CABA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0173.215.11.9
ReturnHeader/FilingSecurityInformation/IPDt02019-09-25
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm013:40:05
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/PreparationDt02019-09-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DONNA R BURKHARDT CPA
ReturnHeader/ReturnTs02019-09-25T13:40:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$704,640
Liabilities
$173,739
Net assets
$530,901
Revenue
$237,996
Expenses
$221,380
Net income
$16,616
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