Civic Intelligence

Regional Economic Development Investments Inc.

990 • Fiscal year 2019 • EIN 42-1359539

Jul 01, 2018 to Jun 30, 2019 • Filed on Jan 21, 2020

Organization ProfileN/A
PO Box 1110Ottumwa, IA 52501

(641) 684-6551

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

Higher debt load relative to assets than 18% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

26th percentile

0.02x

Higher debt load relative to revenue than 26% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

2nd percentile

-164%

Higher net margin than 2% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

13th percentile

-9.0%

Faster asset growth than 13% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

1st percentile

-87%

Faster revenue growth than 1% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets18th percentile

Assets

Down

$1,390,044

Down $137,439 (-9.0%) from 2018

Net Assets

Down

$1,388,747

Down $137,635 (-9.0%) from 2018

Liabilities

Up

$1,297

Up $196 (+18%) from 2018

Revenue And Expenses
Liabilities / Revenue26th percentileNet Margin2nd percentile

Revenue

Down

$83,927

Down $580,994 (-87%) from 2018

Expenses

Down

$221,562

Down $520,024 (-70%) from 2018

Net Income

Down

-$137,635

Down $60,970 (-80%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth13th percentile

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

$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

2019

Assets$1,390,044
Liabilities$1,297
Net Assets$1,388,747
Open 2019 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$83,927
Expenses$221,562
Net Income-$137,635
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jan 21, 2020
Return Version
2018v3.2
Gross Receipts
$83,927
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.

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. Out 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$1,526,382$1,388,747▼ $137,635
Investments Program Related$1,383,999$1,232,741▼ $151,258
Savings and Temporary Cash Investments$143,484$157,303▲ $13,819
Total Assets$1,527,483$1,390,044▼ $137,439
Liabilities
Accounts Payable and Accrued Expenses$1,101$1,297▲ $196
Total Liabilities$1,101$1,297▲ $196
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,526,382$1,388,747▼ $137,635
Total Liabilities and Net Assets / Fund Balance$1,527,483$1,390,044▼ $137,439

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,232,741--
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Mike HadleyChairman
Lee DimmitVice-chairma
Dale HouseMember
Donnie GarrettMember
Douglas L GlandonMember
John HelgersonMember
Joshua LarabyMember
Mark GroenendykMember
Matt GreinerMember
Wayne HuitMember
Brian ZieglerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$56,000
Program Service Revenue
$27,927
Investment Income
$0
Other Revenue
$0
All Other Contributions
$56,000
Change in Net Assets
$-137,635
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$212,334
Other Expenses$9,228
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$212,334--$212,334
Other Expenses$9,228--$9,228
Total Functional Expenses$221,562$0$0$221,562
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Tlc DevelopersCedar Rapids, IA--$163,334
C & C ManufacturingOttumwa, IA--$49,000
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
Backup withholding compliance
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

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

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

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

Form 990, Page 6, Part VI, 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
2020-01-21

Organization Details

Principal Officer
Mike Hadley
Voting Board Members
11
Independent Board Members
11
Employees
0

Preparer

Firm
Anderson Larkin & Co Pc
Address
221 N WAPELLO, OTTUMWA, IA 52501
Preparer
Kenneth E Crosser
Phone
6416845489
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S 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. Out 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.”

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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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IRS990ScheduleA/Total509Grp/TotalAmt01729667
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt083927
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0664921
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0952424
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IRS990ScheduleI/RecipientTable/CashGrantAmt049000
IRS990ScheduleI/RecipientTable/CashGrantAmt1163334
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0C & C MANUFACTURING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1TLC DEVELOPERS
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt015075 ALJON AVE
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt14515 20TH AVE SW SUITE B
IRS990ScheduleI/RecipientTable/USAddress/CityNm0OTTUMWA
IRS990ScheduleI/RecipientTable/USAddress/CityNm1CEDAR RAPIDS
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ADMINISTRATION 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. OUT 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED BY PRESIDENT, WHO DISCUSSES IT WITH THE OTHER BOARD MEMBERS PRIOR TO APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRESIDENT MONITORS THE MEMBERS, AND THE OTHER MEMBERS MONITOR THE PRESIDENT TO ENSURE NO PERCEIVED OR ACTUAL CONFLICT OF INTEREST EXSISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE TO THE PUBLIC UPON REQUEST, DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt01527483
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt056000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0221562
IRS990/TotalFunctionalExpensesGrp/TotalAmt0221562
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01101
IRS990/TotalLiabilitiesEOYAmt01297
IRS990/TotalLiabilitiesGrp/BOYAmt01101
IRS990/TotalLiabilitiesGrp/EOYAmt01297
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01388747
IRS990/TotalProgramServiceExpensesAmt0221562
IRS990/TotalProgramServiceRevenueAmt027927
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt027927
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IRS990/USAddress/ZIPCd052501
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE HADLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum06416846551
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-21
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
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ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CADF053B65AF825364994A0FCC0F974A6E805A1F
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt075.27.153.239
ReturnHeader/FilingSecurityInformation/IPDt02020-01-28
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm009:45:28
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421125570
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ANDERSON LARKIN & CO PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0221 N WAPELLO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0OTTUMWA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052501
ReturnHeader/PreparerPersonGrp/PhoneNum06416845489
ReturnHeader/PreparerPersonGrp/PreparationDt02020-01-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH E CROSSER
ReturnHeader/ReturnTs02020-01-28T09:45:28-06:00
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
$1,390,044
Liabilities
$1,297
Net assets
$1,388,747
Revenue
$83,927
Expenses
$221,562
Net income
-$137,635
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