Civic Intelligence

Cherokee Area Economic Development

990 • Fiscal year 2023 • EIN 42-1336335

Jul 01, 2022 to Jun 30, 2023 • Filed on Dec 08, 2023

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

53rd percentile

0.06x

Higher debt load relative to assets than 53% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

67th percentile

0.17x

Higher debt load relative to revenue than 67% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Net Margin

92nd percentile

31%

Higher net margin than 92% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Asset Growth

58th percentile

7.5%

Faster asset growth than 58% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

57th percentile

11%

Faster revenue growth than 57% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Up

$801,679

Up $55,958 (+7.5%) from 2022

Net Assets

Up

$752,392

Up $88,942 (+13%) from 2022

Liabilities

Down

$49,287

Down $32,984 (-40%) from 2022

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin92nd percentile

Revenue

Up

$284,440

Up $27,879 (+11%) from 2022

Expenses

Down

$195,498

Down $28,575 (-13%) from 2022

Net Income

Up

$88,942

Up $56,454 (+174%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth58th 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

2023

Assets$801,679
Liabilities$49,287
Net Assets$752,392
Open 2023 Filing

Operations Trend

Revenue Growth57th 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

2023

Revenue$284,440
Expenses$195,498
Net Income$88,942
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Dec 8, 2023
Return Version
2022v5.0
Gross Receipts
$284,440
Mission and Program Overview

Mission

Economic development of the cherokee area

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$481,308$542,862▲ $61,554
Other Notes and Loans Receivable, Net$90,811$100,285▲ $9,474
Land, Buildings, and Equipment, Net$5,515$4,418▼ $1,097
Prepaid Expenses and Deferred Charges$207$1,661▲ $1,454
Total Assets$745,721$801,679▲ $55,958
Other Assets Total$167,880$152,453▼ $15,427
Liabilities
Other Liabilities$73,509$47,639▼ $25,870
Accounts Payable and Accrued Expenses$8,762$1,648▼ $7,114
Total Liabilities$82,271$49,287▼ $32,984
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$663,450$752,392▲ $88,942
Total Net Assets Fund Balance$663,450$752,392▲ $88,942
Total Liabilities and Net Assets / Fund Balance$745,721$801,679▲ $55,958

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$11,187--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Rick MonganPresident
Andy CarlsonBoard Member
Bill AndersonBoard Member
Brenda PerrinBoard Member
Brian FreedBoard Member
Dave WilberdingBoard Member
Diane YoungBoard Member
Don ParrottBoard Member
Joe SchlengerBoard Member
Kenny SchlengerBoard Member
Les ToddBoard Member
Willie AllbaughBoard Member
Amy LoughlinSecretary
Matt PriebeTreasurer
Curt JohnsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$267,060
Program Service Revenue
$0
Investment Income
$7,874
Other Revenue
$9,506
All Other Contributions
$267,060
Change in Net Assets
$88,942
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$116,076
Other Expenses$79,422
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$63,782--$63,782
Other Salaries and Wages$34,282--$34,282
Advertising$33,250--$33,250
Occupancy$8,768--$8,768
Payroll Taxes$8,384--$8,384
Other Employee Benefits$6,438--$6,438
Travel$4,772--$4,772
All Other Expenses$4,253--$4,253
Conferences and Meetings$3,276--$3,276
Pension Plan Contributions$3,190--$3,190
Other Expenses$2,330--$2,330
Fees for Services Accounting$1,425--$1,425
Interest$1,386--$1,386
Depreciation Depletion$1,097--$1,097
Total Functional Expenses$195,498$0$0$195,498
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$47,639
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

“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
Rick Mongan
Title
President
Phone
7122255739
Signed
2023-12-08

Organization Details

Principal Officer
Rick Mongan
Voting Board Members
15
Independent Board Members
15
Employees
3

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/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0141266
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt111187
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENT CHEROKEE DEV
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1FORGIVABLE LOANS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt047639
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTES PAYABLE
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0152453
IRS990ScheduleD/TotalLiabilityAmt047639
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/ExplanationTxt2FORM 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/TotalAssetsBOYAmt0745721
IRS990/TotalAssetsEOYAmt0801679
IRS990/TotalAssetsGrp/BOYAmt0745721
IRS990/TotalAssetsGrp/EOYAmt0801679
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0267060
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0195498
IRS990/TotalFunctionalExpensesGrp/TotalAmt0195498
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt082271
IRS990/TotalLiabilitiesEOYAmt049287
IRS990/TotalLiabilitiesGrp/BOYAmt082271
IRS990/TotalLiabilitiesGrp/EOYAmt049287
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0663450
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0752392
IRS990/TotalProgramServiceExpensesAmt0195498
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt017380
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0284440
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0745721
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0801679
IRS990/TravelGrp/ProgramServicesAmt04772
IRS990/TravelGrp/TotalAmt04772
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0CHEROKEEIA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/PersonNm0RICK MONGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07122255739
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-12-08
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/IRSResponsiblePrtyInfoCurrInd0true
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/PreparationDt02023-12-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DONNA R BURKHARDT CPA
ReturnHeader/ReturnTs02024-01-04T10:41:18-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICK
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MONGAN
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$801,679
Liabilities
$49,287
Net assets
$752,392
Revenue
$284,440
Expenses
$195,498
Net income
$88,942
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