Civic Intelligence

Regional Economic Development Investments Inc.

990 • Fiscal year 2021 • EIN 42-1359539

Jul 01, 2020 to Jun 30, 2021 • Filed on May 28, 2022

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

27th percentile

0.01x

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

29th percentile

0.02x

Higher debt load relative to revenue than 29% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

97th percentile

88%

Higher net margin than 97% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

87th percentile

54%

Faster asset growth than 87% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

99th percentile

2072%

Faster revenue growth than 99% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets27th percentile

Assets

Up

$2,112,931

Up $743,363 (+54%) from 2020

Net Assets

Up

$2,099,678

Up $730,110 (+53%) from 2020

Liabilities

Up

$13,253

Up $13,253 from 2020

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin97th percentile

Revenue

Up

$830,317

Up $792,080 (+2072%) from 2020

Expenses

Up

$100,207

Up $42,791 (+75%) from 2020

Net Income

Up

$730,110

Up $749,289 (+3907%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth87th 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

2021

Assets$2,112,931
Liabilities$13,253
Net Assets$2,099,678
Open 2021 Filing

Operations Trend

Revenue Growth99th 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

2021

Revenue$830,317
Expenses$100,207
Net Income$730,110
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
May 28, 2022
Return Version
2020v4.2
Gross Receipts
$830,317
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$1,369,568$2,099,678▲ $730,110
Investments Program Related$1,284,292$1,807,119▲ $522,827
Cash and Non-Interest-Bearing Accounts$85,276$305,812▲ $220,536
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$1,369,568$2,112,931▲ $743,363
Liabilities
Accounts Payable and Accrued Expenses-$13,253-
Total Liabilities$0$13,253▲ $13,253
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,369,568$2,099,678▲ $730,110
Total Liabilities and Net Assets / Fund Balance$1,369,568$2,112,931▲ $743,363

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,807,119--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Mike HadleyChairman
Dale HouseVice-chairman
Dee SandquistMember
Donnie GarrettMember
Jim MorlanMember
John HelgersonMember
Joshua LarabyMember
Mark GroenendykMember
Matt GreinerMember
Wayne HuitMember
Bryan ZieglerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$791,879
Program Service Revenue
$38,438
Investment Income
$0
Other Revenue
$0
All Other Contributions
$15,000
Change in Net Assets
$730,110
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$51,207
Grants and Similar Amounts Paid$49,000
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$51,207--$51,207
Grants to Domestic Orgs$49,000--$49,000
Total Functional Expenses$100,207$0$0$100,207
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
C & C Mfg Land Co LLCCenterville, IA-Job Creation$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
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
2022-05-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mike Hadley
Formed
1990
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Faller Kincheloe & Co Plc
Address
2721 SW 30TH ST, DES MOINES, IA 50321
Preparer
Ryan Roof
Phone
5153625672
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Miscellaneous: program service expenses 551. Management and general expenses 0. Fundraising expenses 0. Total expenses 551. Administrative fees: program service expenses 50656. Management and general expenses 0. Fundraising expenses 0. Total expenses 50656.”

Raw XML Appendix383 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.

Path#Value
IRS990/AccountantCompileOrReviewInd00
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt013253
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0ADMINISTRATION 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.
IRS990/AllOtherContributionsAmt015000
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0MIKE HADLEY
IRS990/BooksInCareOfDetail/PhoneNum06416846551
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt0224 EAST 2ND STREET
IRS990/BooksInCareOfDetail/USAddress/CityNm0OTTUMWA
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd052501
IRS990/BusinessRlnWith35CtrlEntInd00
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CapStkTrPrinCurrentFundsGrp/BOYAmt00
IRS990/CapStkTrPrinCurrentFundsGrp/EOYAmt00
IRS990/CashNonInterestBearingGrp/BOYAmt085276
IRS990/CashNonInterestBearingGrp/EOYAmt0305812
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
IRS990/CompensationProcessOtherInd00
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd01
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt0791879
IRS990/CYGrantsAndSimilarPaidAmt049000
IRS990/CYInvestmentIncomeAmt00
IRS990/CYOtherExpensesAmt051207
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt038438
IRS990/CYRevenuesLessExpensesAmt0730110
IRS990/CYSalariesCompEmpBnftPaidAmt00
IRS990/CYTotalExpensesAmt0100207
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0830317
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DelegationOfMgmtDutiesInd00
IRS990/Desc0IN REGARDS TO THE GRANT FROM THE ECONOMIC DEVELOPMENT ADMINISTRATION, WE ARE ABLE TO SERVICE OUTSTANDING LOANS. MANY CONTACTS WERE MADE WITH POTENTIAL NEW INDUSTRIES. WE PROVIDE GAP FINANCING TO ASSIST COMPANIES IN OBTAINING LOANS FROM BANKS AND GRANTS FROM THE STATE. WITH THE REPAYABLE LOANS, WE REQUIRE A CERTIAN NUMBER OF JOBS TO BE CREATED, DEPENDING ON THE SIZE OF THE LOAN, AND A SURCHARGE IS ASSESSED IF THE EMPLOYMENT GOALS ARE NOT MET.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/DonorRstrOrQuasiEndowmentsInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt00
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0100207
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditPerformedInd01
IRS990/FederalGrantAuditRequiredInd01
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt051207
IRS990/FeesForServicesOtherGrp/TotalAmt051207
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt71.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt81.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt91.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt101.00
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd10X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt100
IRS990/Form990PartVIISectionAGrp/PersonNm0DALE HOUSE
IRS990/Form990PartVIISectionAGrp/PersonNm1DONNIE GARRETT
IRS990/Form990PartVIISectionAGrp/PersonNm2MATT GREINER
IRS990/Form990PartVIISectionAGrp/PersonNm3MARK GROENENDYK
IRS990/Form990PartVIISectionAGrp/PersonNm4MIKE HADLEY
IRS990/Form990PartVIISectionAGrp/PersonNm5JOHN HELGERSON
IRS990/Form990PartVIISectionAGrp/PersonNm6JIM MORLAN
IRS990/Form990PartVIISectionAGrp/PersonNm7WAYNE HUIT
IRS990/Form990PartVIISectionAGrp/PersonNm8JOSHUA LARABY
IRS990/Form990PartVIISectionAGrp/PersonNm9DEE SANDQUIST
IRS990/Form990PartVIISectionAGrp/PersonNm10BRYAN ZIEGLER
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/TitleTxt0VICE-CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt1MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt5MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10TREASURER
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01990
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedBasisGrp/ConsolidatedBasisFinclStmtInd0X
IRS990/FSAuditedInd01
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt011
IRS990/GovernmentGrantsAmt0776879
IRS990/GrantAmt049000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt049000
IRS990/GrantsToDomesticOrgsGrp/TotalAmt049000
IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd01
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0830317
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt011
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartIXInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt01284292
IRS990/InvestmentsProgramRelatedGrp/EOYAmt01807119
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ADMINISTRATION 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.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01369568
IRS990/NetAssetsOrFundBalancesEOYAmt02099678
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/PartialLiquidationInd00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0MIKE HADLEY
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/Desc0LOAN INTEREST
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt038438
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt038438
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt05000
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt049000
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt08416
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt033237
IRS990/PYRevenuesLessExpensesAmt0-19179
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt057416
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt038237
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0730110
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd01
IRS990/RevenueAmt038438
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt01369568
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt02099678
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0791879
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt05000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt056000
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0638741
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0926750
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt02418370
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt038438
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt033237
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt027927
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt026180
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt025674
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0151456
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt02569826
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0830317
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt038237
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt083927
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0664921
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0952424
IRS990ScheduleA/Total509Grp/TotalAmt02569826
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0830317
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt038237
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt083927
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0664921
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0952424
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02569826
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01807119
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt01807119
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt049000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0JOB CREATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0C & C MFG LAND CO LLC
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt022233 230TH AVENUE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0CENTERVILLE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd052544
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/ExplanationTxt3MISCELLANEOUS: PROGRAM SERVICE EXPENSES 551. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 551. ADMINISTRATIVE FEES: PROGRAM SERVICE EXPENSES 50656. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 50656.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01369568
IRS990/TotalAssetsEOYAmt02112931
IRS990/TotalAssetsGrp/BOYAmt01369568
IRS990/TotalAssetsGrp/EOYAmt02112931
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0791879
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0100207
IRS990/TotalFunctionalExpensesGrp/TotalAmt0100207
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt013253
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt013253
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01369568
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02099678
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0100207
IRS990/TotalProgramServiceRevenueAmt038438
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt038438
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0830317
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01369568
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02112931
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/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE HADLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum06416846551
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-28
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/PreparerFirmEIN0261600907
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FALLER KINCHELOE & CO PLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02721 SW 30TH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DES MOINES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050321
ReturnHeader/PreparerPersonGrp/PhoneNum05153625672
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RYAN ROOF
ReturnHeader/ReturnTs02022-03-29T11:35:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MIKE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HADLEY
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,112,931
Liabilities
$13,253
Net assets
$2,099,678
Revenue
$830,317
Expenses
$100,207
Net income
$730,110
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