Civic Intelligence

Cherokee Area Economic Development

990 • Fiscal year 2020 • EIN 42-1336335

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 18, 2020

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

71st percentile

0.24x

Higher debt load relative to assets than 71% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

0.72x

Higher debt load relative to revenue than 91% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Net Margin

31st percentile

-1.6%

Higher net margin than 31% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

44th percentile

$0

Higher top officer pay than 44% of similar nonprofits.

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

2020 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2020

Asset Growth

31st percentile

-1.0%

Faster asset growth than 31% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

69th percentile

-0.2%

Faster revenue growth than 69% of similar nonprofits.

2020 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets71st percentile

Assets

Down

$697,454

Down $7,186 (-1.0%) from 2019

Net Assets

Down

$527,158

Down $3,743 (-0.7%) from 2019

Liabilities

Down

$170,296

Down $3,443 (-2.0%) from 2019

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin31st percentile

Revenue

Down

$237,446

Down $550 (-0.2%) from 2019

Expenses

Up

$241,189

Up $19,809 (+8.9%) from 2019

Net Income

Down

-$3,743

Down $20,359 (-123%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth31st 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

2020

Assets$697,454
Liabilities$170,296
Net Assets$527,158
Open 2020 Filing

Operations Trend

Revenue Growth69th 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

2020

Revenue$237,446
Expenses$241,189
Net Income-$3,743
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 18, 2020
Return Version
2019v5.0
Gross Receipts
$237,446
Mission and Program Overview

Mission

Economic development of the cherokee area

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$255,986$288,783▲ $32,797
Other Notes and Loans Receivable, Net$151,447$190,414▲ $38,967
Land, Buildings, and Equipment, Net$9,418$7,946▼ $1,472
Accounts Receivable$709$513▼ $196
Prepaid Expenses and Deferred Charges$295$491▲ $196
Savings and Temporary Cash Investments$60,144$196▼ $59,948
Total Assets$704,640$697,454▼ $7,186
Other Assets Total$226,641$209,111▼ $17,530
Liabilities
Other Liabilities$161,990$148,752▼ $13,238
Accounts Payable and Accrued Expenses$11,749$21,544▲ $9,795
Total Liabilities$173,739$170,296▼ $3,443
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$423,720$430,617▲ $6,897
Net Assets With Donor Restrictions$107,181$96,541▼ $10,640
Total Net Assets Fund Balance$530,901$527,158▼ $3,743
Total Liabilities and Net Assets / Fund Balance$704,640$697,454▼ $7,186

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$8,500--
Compensation and Service Providers
Top Officer Pay44th percentile

Board Members and Trustees

NameTitle
Brian FreedPresident
Amy LoughlinBoard Member
Andy CarlsonBoard Member
Brenda PerrinBoard Member
Chris JennessBoard Member
Don ParrottBoard Member
Joe SchlengerBoard Member
Les ToddBoard Member
Mark PierceBoard Member
Matt PriebeBoard Member
Mike DunnBoard Member
Willie AllbaughBoard Member
Chad BrownSecretary
Curt JohnsonTreasurer
Rick MonganVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$266,132
Program Service Revenue
$0
Investment Income
$6,191
Other Revenue
$-34,877
All Other Contributions
$266,132
Change in Net Assets
$-3,743

Audited Revenue Reconciliation

Revenue per Audited Statements
$237,446
Total Revenue per Audited Statements
$237,446
Total Revenue per Form 990
$237,446
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$166,242
Other Expenses$74,947
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$88,470--$88,470
Other Salaries and Wages$36,559--$36,559
Other Employee Benefits$28,652--$28,652
Advertising$22,388--$22,388
Payroll Taxes$9,739--$9,739
Occupancy$9,038--$9,038
Fees for Services Accounting$8,094--$8,094
All Other Expenses$6,729--$6,729
Travel$5,696--$5,696
Conferences and Meetings$4,666--$4,666
Pension Plan Contributions$2,822--$2,822
Other Expenses$2,200--$2,200
Depreciation Depletion$2,068--$2,068
Interest$1,538--$1,538
Total Functional Expenses$241,189$0$0$241,189

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$241,189
Total Expenses per Audited Statements$241,189
Total Expenses per Form 990$241,189
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$148,752
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
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
2020-09-18

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/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0232079
IRS990/PYInvestmentIncomeAmt05109
IRS990/PYOtherExpensesAmt068999
IRS990/PYOtherRevenueAmt0808
IRS990/PYRevenuesLessExpensesAmt016616
IRS990/PYSalariesCompEmpBnftPaidAmt0152381
IRS990/PYTotalExpensesAmt0221380
IRS990/PYTotalRevenueAmt0237996
IRS990/ReconcilationRevenueExpnssAmt0-3743
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt060144
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0196
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0241189
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0188614
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt111997
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt28500
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENT CHEROKEE DEV
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1DUE FROM RLF
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2FORGIVABLE LOANS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0148752
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt0237446
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0209111
IRS990ScheduleD/TotalExpensesPerForm990Amt0241189
IRS990ScheduleD/TotalLiabilityAmt0148752
IRS990ScheduleD/TotalRevenuePerForm990Amt0237446
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0237446
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0241189
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/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0704640
IRS990/TotalAssetsEOYAmt0697454
IRS990/TotalAssetsGrp/BOYAmt0704640
IRS990/TotalAssetsGrp/EOYAmt0697454
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0266132
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0241189
IRS990/TotalFunctionalExpensesGrp/TotalAmt0241189
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0173739
IRS990/TotalLiabilitiesEOYAmt0170296
IRS990/TotalLiabilitiesGrp/BOYAmt0173739
IRS990/TotalLiabilitiesGrp/EOYAmt0170296
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0530901
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0527158
IRS990/TotalProgramServiceExpensesAmt0241189
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-28686
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0237446
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0704640
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0697454
IRS990/TravelGrp/ProgramServicesAmt05696
IRS990/TravelGrp/TotalAmt05696
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0CHEROKEEIA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN FREED
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07122255739
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-18
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/AtSubmissionCreationDeviceId03F960BB4368719B2F2164AB14C9795318B3E256A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0D3B6FBFBC6F007C99D423F09B9855F1BAE41CABA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.33.233.2
ReturnHeader/FilingSecurityInformation/IPDt02020-10-28
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm015:31:23
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/PreparationDt02020-09-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DONNA R BURKHARDT CPA
ReturnHeader/ReturnTs02020-10-28T15:31:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$697,454
Liabilities
$170,296
Net assets
$527,158
Revenue
$237,446
Expenses
$241,189
Net income
-$3,743
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