Civic Intelligence

Regional Economic Development Investments Inc.

990 • Fiscal year 2023 • EIN 42-1359539

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 01, 2024

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

17th percentile

0.00x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

17th percentile

0.00x

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

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

94th percentile

67%

Higher net margin than 94% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

39th percentile

0.7%

Faster asset growth than 39% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-87%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$2,325,361

Up $15,191 (+0.7%) from 2022

Net Assets

Up

$2,325,361

Up $34,379 (+1.5%) from 2022

Liabilities

Down

$0

Down $19,188 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin94th percentile

Revenue

Down

$51,147

Down $335,887 (-87%) from 2022

Expenses

Down

$16,768

Down $178,962 (-91%) from 2022

Net Income

Down

$34,379

Down $156,925 (-82%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth39th 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

2023

Assets$2,325,361
Liabilities$0
Net Assets$2,325,361
Open 2023 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

2023

Revenue$51,147
Expenses$16,768
Net Income$34,379
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 1, 2024
Return Version
2022v5.0
Gross Receipts
$51,147
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$2,290,982$2,325,361▲ $34,379
Investments Program Related$1,619,753$1,706,060▲ $86,307
Savings and Temporary Cash Investments$690,417$619,301▼ $71,116
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$2,310,170$2,325,361▲ $15,191
Liabilities
Accounts Payable and Accrued Expenses$19,188--
Total Liabilities$19,188$0▼ $19,188
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,290,982$2,325,361▲ $34,379
Total Liabilities and Net Assets / Fund Balance$2,310,170$2,325,361▲ $15,191

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,706,060--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Mike HadleyChairman
Dale HouseVice-chairman
Dave HendersonMember
Dee SandquistMember
Donnie GarrettMember
Jim MorlanMember
John HelgersonMember
Mark GroenendykMember
Matt GreinerMember
Tom FlahertyMember
Bryan ZieglerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$51,147
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$34,379
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$16,768
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
Other Expenses$140--$140
Total Functional Expenses$16,768$0$0$16,768
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
2024-04-01
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
Roof Gerdes Erlbacher Plc
Address
2721 SW 30TH ST, DES MOINES, IA 50321
Preparer
Ryan Roof
Phone
5153625672
Raw XML Appendix369 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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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt051147
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0387034
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0830317
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt038237
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt083927
IRS990ScheduleA/Total509Grp/TotalAmt01390662
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt051147
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0387034
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0830317
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt038237
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt083927
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01390662
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt01706060
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueProgramRltdAmt01706060
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
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02310170
IRS990/TotalAssetsEOYAmt02325361
IRS990/TotalAssetsGrp/BOYAmt02310170
IRS990/TotalAssetsGrp/EOYAmt02325361
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt016768
IRS990/TotalFunctionalExpensesGrp/TotalAmt016768
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt019188
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt019188
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02290982
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02325361
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt016768
IRS990/TotalProgramServiceRevenueAmt051147
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt051147
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt051147
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02310170
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02325361
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/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MIKE HADLEY
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum06416846551
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-01
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/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/ReturnTs02024-04-03T20:02:08-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MIKE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HADLEY
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
$2,325,361
Liabilities
$0
Net assets
$2,325,361
Revenue
$51,147
Expenses
$16,768
Net income
$34,379
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