Civic Intelligence

Regional Economic Development

EIN 42-1359539 • 501(c)3 • Ottumwa, IA

Profile

Administration of a revolving loan fund. Our mission is to provide loans to businesses in the area by issuing gap financing in order to leverage loans from banks and grants from the state. Our objective is to use these loans to increase the employment base in the area. In addition, we also provided forgivable loans to businesses in wapello county, these forgivable loans are made in order to increase business and employment in the area.

PO Box 1110Ottumwa, IA 52501

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

27th percentile

0.00x

Higher debt load relative to assets than 27% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

64th percentile

0.17x

Higher debt load relative to revenue than 64% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

9th percentile

-34%

Higher net margin than 9% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

37th percentile

-0.6%

Faster asset growth than 37% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

17th percentile

-17%

Faster revenue growth than 17% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Balance Sheet
Liabilities / Assets27th percentile

Assets

Down

$2,359,640

Down $14,250 (-0.6%) from 2024

Liabilities

Up

$9,585

Up $4,493 (+88%) from 2024

Net Assets

Down

$2,350,055

Down $18,743 (-0.8%) from 2024

Operations
Liabilities / Revenue64th percentileNet Margin9th percentile

Revenue

Down

$55,315

Down $11,282 (-17%) from 2024

Expenses

Up

$74,058

Up $50,898 (+220%) from 2024

Net Income

Down

-$18,743

Down $62,180 (-143%) from 2024

Trend Graphs

Balance Sheet Trend

Asset Growth37th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2011: $990,069Liabilities 2011: $4,706Net Assets 2011: $985,3632011Assets 2012: $952,932Liabilities 2012: $3,473Net Assets 2012: $949,4592012Assets 2013: $954,419Liabilities 2013: $5,514Net Assets 2013: $948,9052013Assets 2014: $879,586Liabilities 2014: $907Net Assets 2014: $878,6792014Assets 2015: $885,062Liabilities 2015: $0Net Assets 2015: $885,0622015Assets 2016: $832,589Liabilities 2016: $913Net Assets 2016: $831,6762016Assets 2017: $1,603,615Liabilities 2017: $568Net Assets 2017: $1,603,0472017Assets 2018: $1,527,483Liabilities 2018: $1,101Net Assets 2018: $1,526,3822018Assets 2019: $1,390,044Liabilities 2019: $1,297Net Assets 2019: $1,388,7472019Assets 2020: $1,369,568Liabilities 2020: $0Net Assets 2020: $1,369,5682020Assets 2021: $2,112,931Liabilities 2021: $13,253Net Assets 2021: $2,099,6782021Assets 2022: $2,310,170Liabilities 2022: $19,188Net Assets 2022: $2,290,9822022Assets 2023: $2,325,361Liabilities 2023: $0Net Assets 2023: $2,325,3612023Assets 2024: $2,373,890Liabilities 2024: $5,092Net Assets 2024: $2,368,7982024Assets 2025: $2,359,640Liabilities 2025: $9,585Net Assets 2025: $2,350,0552025

Highlighted filing

2025

Assets$2,359,640
Liabilities$9,585
Net Assets$2,350,055
Open 2025 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2011: $21,979Expenses 2011: $90,985Net Income 2011: -$69,0062011Revenue 2012: $16,023Expenses 2012: $51,927Net Income 2012: -$35,9042012Expenses 2013: $17,2182013Revenue 2014: $13,771Expenses 2014: $83,997Net Income 2014: -$70,2262014Revenue 2015: $9,550Expenses 2015: $3,167Net Income 2015: $6,3832015Revenue 2016: $18,845Expenses 2016: $72,231Net Income 2016: -$53,3862016Revenue 2017: $952,424Expenses 2017: $181,053Net Income 2017: $771,3712017Revenue 2018: $664,921Expenses 2018: $741,586Net Income 2018: -$76,6652018Revenue 2019: $83,927Expenses 2019: $221,562Net Income 2019: -$137,6352019Revenue 2020: $38,237Expenses 2020: $57,416Net Income 2020: -$19,1792020Revenue 2021: $830,317Expenses 2021: $100,207Net Income 2021: $730,1102021Revenue 2022: $387,034Expenses 2022: $195,730Net Income 2022: $191,3042022Revenue 2023: $51,147Expenses 2023: $16,768Net Income 2023: $34,3792023Revenue 2024: $66,597Expenses 2024: $23,160Net Income 2024: $43,4372024Revenue 2025: $55,315Expenses 2025: $74,058Net Income 2025: -$18,7432025

Highlighted filing

2025

Revenue$55,315
Expenses$74,058
Net Income-$18,743
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,359,640
Liabilities
$9,585
Net assets
$2,350,055
Revenue
$55,315
Expenses
$74,058
Net income
-$18,743
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.36$0.01$2.35$0.06$0.07$0.02
2024Detailed filing. Detailed filing data is available for this year.$2.37$0.01$2.37$0.07$0.02$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.33$0.00$2.33$0.05$0.02$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.31$0.02$2.29$0.39$0.20$0.19
2021Detailed filing. Detailed filing data is available for this year.$2.11$0.01$2.10$0.83$0.10$0.73
2020Detailed filing. Detailed filing data is available for this year.$1.37$0.00$1.37$0.04$0.06$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$0.08$0.22$0.14
2018Detailed filing. Detailed filing data is available for this year.$1.53$0.00$1.53$0.66$0.74$0.08
2017Summary only. Only limited summary data is available for this year.$1.60$0.00$1.60$0.95$0.18$0.77
2016Detailed filing. Detailed filing data is available for this year.$0.83$0.00$0.83$0.02$0.07$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.89$0.00$0.89$0.01$0.00$0.01
2014Detailed filing. Detailed filing data is available for this year.$0.88$0.00$0.88$0.01$0.08$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.01$0.95$0.02
2012Summary only. Only limited summary data is available for this year.$0.95$0.00$0.95$0.02$0.05$0.04
2011Summary only. Only limited summary data is available for this year.$0.99$0.00$0.99$0.02$0.09$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Feb 11, 2026
Return Version
2024v5.5
Gross Receipts
$55,315
Mission and Program Overview

Mission

Administration of a revolving loan fund. Our mission is to provide loans to businesses in the area by issuing gap financing in order to leverage loans from banks and grants from the state. Our objective is to use these loans to increase the employment base in the area. In addition, we also provided forgivable loans to businesses in wapello county, these forgivable loans are made in order to increase business and employment in the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,368,798$2,350,055▼ $18,743
Investments Program Related$1,435,653$1,229,035▼ $206,618
Savings and Temporary Cash Investments$938,237$1,126,228▲ $187,991
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,373,890$2,359,640▼ $14,250
Other Assets Total-$4,377-
Liabilities
Accounts Payable and Accrued Expenses$5,092$9,585▲ $4,493
Total Liabilities$5,092$9,585▲ $4,493
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,368,798$2,350,055▼ $18,743
Total Liabilities and Net Assets / Fund Balance$2,373,890$2,359,640▼ $14,250

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,229,035--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Mike HadleyChairman
Dale HouseVice-chairman
Dave HendersonMember
Emily StarnesMember
Jim MorlanMember
John HelgersonMember
Lee DimmittMember
Mark GroenendykMember
Matt GreinerMember
Bryan ZieglerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$40,975
Investment Income
$14,340
Other Revenue
$0
Change in Net Assets
$-18,743
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$74,058
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Legal$10,023--$10,023
Fees for Services Accounting$3,250--$3,250
Other Expenses$38--$38
Total Functional Expenses$74,058$0$0$74,058
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
Lobbying activity
No
Subject to proxy tax
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Reviewed by the president, who discusses it with the other board members prior to approval.”

Form 990, Part VI, Section B, Line 12C

“President monitors the members, and the other members monitor the president to ensure no perceived or actual conflict of interest exists.”

Form 990, Part VI, Section C, Line 19

“Available to the public upon request, during normal business hours.”

Filing and Contact Details

Filer

Filer Name
Regional Economic Development
EIN
42-1359539
Phone
6416846551
Address
PO BOX 1110, OTTUMWA, IA 52501

Signing Officer

Name
Mike Hadley
Title
Chairman
Phone
6416846551
Signed
2026-02-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Hadley
Formed
1990
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
0

Preparer

Firm
Roof Gerdes Erlbacher Plc
Address
1701 22ND ST STE 201, WEST DES MOINES, IA 50266
Preparer
Ryan Roof
Phone
5153625672
Raw XML Appendix365 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/PYOtherExpensesAmt023160
IRS990/PYOtherRevenueAmt012280
IRS990/PYProgramServiceRevenueAmt053687
IRS990/PYRevenuesLessExpensesAmt043437
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt023160
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt066597
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0-18743
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt055315
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02368798
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02350055
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0938237
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01126228
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0340517
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0791879
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01132396
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt040975
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt053687
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt051147
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt046517
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt038438
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0230764
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IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt01363160
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt040975
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt053687
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt051147
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0387034
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0830317
IRS990ScheduleA/Total509Grp/TotalAmt01363160
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt040975
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt053687
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt051147
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0387034
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0830317
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01363160
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01229035
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt01229035
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED BY THE PRESIDENT, WHO DISCUSSES IT WITH THE OTHER BOARD MEMBERS PRIOR TO APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRESIDENT MONITORS THE MEMBERS, AND THE OTHER MEMBERS MONITOR THE PRESIDENT TO ENSURE NO PERCEIVED OR ACTUAL CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2AVAILABLE TO THE PUBLIC UPON REQUEST, DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02373890
IRS990/TotalAssetsEOYAmt02359640
IRS990/TotalAssetsGrp/BOYAmt02373890
IRS990/TotalAssetsGrp/EOYAmt02359640
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt074058
IRS990/TotalFunctionalExpensesGrp/TotalAmt074058
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05092
IRS990/TotalLiabilitiesEOYAmt09585
IRS990/TotalLiabilitiesGrp/BOYAmt05092
IRS990/TotalLiabilitiesGrp/EOYAmt09585
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02368798
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02350055
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt074058
IRS990/TotalProgramServiceRevenueAmt040975
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt055315
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt055315
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02373890
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02359640
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0224 E 2ND ST
IRS990/USAddress/CityNm0OTTUMWA
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052501
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE HADLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum06416846551
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-02-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0REGIONAL ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INVESTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0REGI
ReturnHeader/Filer/EIN0421359539
ReturnHeader/Filer/PhoneNum06416846551
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1110
ReturnHeader/Filer/USAddress/CityNm0OTTUMWA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052501
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0261600907
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ROOF GERDES ERLBACHER PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01701 22ND ST STE 201
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST DES MOINES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050266
ReturnHeader/PreparerPersonGrp/PhoneNum05153625672
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RYAN ROOF
ReturnHeader/ReturnTs02026-02-27T16:27:11-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-07-01
ReturnHeader/TaxPeriodEndDt02025-06-30
ReturnHeader/TaxYr02024

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