Civic Intelligence

Regional Economic Development Investments Inc.

990 • Fiscal year 2020 • EIN 42-1359539

Jul 01, 2019 to Jun 30, 2020 • Filed on Jan 22, 2021

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

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

7th percentile

-50%

Higher net margin than 7% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

26th percentile

-1.5%

Faster asset growth than 26% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

7th percentile

-54%

Faster revenue growth than 7% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets15th percentile

Assets

Down

$1,369,568

Down $20,476 (-1.5%) from 2019

Net Assets

Down

$1,369,568

Down $19,179 (-1.4%) from 2019

Liabilities

Down

$0

Down $1,297 (-100%) from 2019

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin7th percentile

Revenue

Down

$38,237

Down $45,690 (-54%) from 2019

Expenses

Down

$57,416

Down $164,146 (-74%) from 2019

Net Income

Up

-$19,179

Up $118,456 (+86%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2020

Assets$1,369,568
Liabilities$0
Net Assets$1,369,568
Open 2020 Filing

Operations Trend

Revenue Growth7th 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

2020

Revenue$38,237
Expenses$57,416
Net Income-$19,179
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jan 22, 2021
Return Version
2019v5.0
Gross Receipts
$38,237
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$1,388,747$1,369,568▼ $19,179
Investments Program Related$1,232,741$1,284,292▲ $51,551
Savings and Temporary Cash Investments$157,303$85,276▼ $72,027
Total Assets$1,390,044$1,369,568▼ $20,476
Liabilities
Accounts Payable and Accrued Expenses$1,297--
Total Liabilities$1,297$0▼ $1,297
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,388,747$1,369,568▼ $19,179
Total Liabilities and Net Assets / Fund Balance$1,390,044$1,369,568▼ $20,476

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,284,292--
Compensation and Service Providers
Top Officer Pay37th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$5,000
Program Service Revenue
$33,237
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,000
Change in Net Assets
$-19,179
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$49,000
Other Expenses$8,416
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$49,000--$49,000
Other Expenses$421--$421
Total Functional Expenses$57,416$0$0$57,416
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
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 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, 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
2021-01-22

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/CurrentTaxYearMinus4YearsAmt018845
IRS990ScheduleA/Total509Grp/TotalAmt01758354
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt038237
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt083927
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0664921
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0952424
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt018845
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01758354
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01284292
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueProgramRltdAmt01284292
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt049000
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0C & C MANUFACTURING
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt015075 ALJON AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0OTTUMWA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd052501
IRS990/ScheduleJRequiredInd0false
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01390044
IRS990/TotalAssetsEOYAmt01369568
IRS990/TotalAssetsGrp/BOYAmt01390044
IRS990/TotalAssetsGrp/EOYAmt01369568
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt057416
IRS990/TotalFunctionalExpensesGrp/TotalAmt057416
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01297
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt01297
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01388747
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01369568
IRS990/TotalProgramServiceExpensesAmt057416
IRS990/TotalProgramServiceRevenueAmt033237
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt033237
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt038237
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01390044
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01369568
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0224 E 2ND STREET 2
IRS990/USAddress/CityNm0OTTUMWA
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd052501
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE HADLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum06416846551
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-01-22
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/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/PreparationDt02021-01-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH E CROSSER
ReturnHeader/ReturnTs02021-01-28T09:41:25-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,369,568
Liabilities
$0
Net assets
$1,369,568
Revenue
$38,237
Expenses
$57,416
Net income
-$19,179
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