Civic Intelligence

Webster City Area Association of Business and Industry Inc

990 • Fiscal year 2021 • EIN 42-1378078

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 21, 2022

Organization ProfileN/A
628 Second StreetWebster City, IA 50595

(515) 832-2564

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.10x

Higher debt load relative to assets than 72% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

88th percentile

0.38x

Higher debt load relative to revenue than 88% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

83rd percentile

$41,946

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 37.3% of source-year revenue.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

24th percentile

-8.0%

Faster asset growth than 24% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

26th percentile

-19%

Faster revenue growth than 26% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$425,823

Down $37,004 (-8.0%) from 2020

Net Assets

Down

$382,691

Down $33,311 (-8.0%) from 2020

Liabilities

Down

$43,132

Down $3,693 (-7.9%) from 2020

Revenue And Expenses
Liabilities / Revenue88th percentileNet Margin22nd percentile

Revenue

Down

$112,557

Down $26,645 (-19%) from 2020

Expenses

Up

$125,297

Up $7,247 (+6.1%) from 2020

Net Income

Down

-$12,740

Down $33,892 (-160%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$600K$400K$200K$0Assets 2010: $408,670Liabilities 2010: $9,501Net Assets 2010: $399,1692010Assets 2011: $495,988Liabilities 2011: $2,751Net Assets 2011: $493,2372011Assets 2012: $503,402Liabilities 2012: $5,220Net Assets 2012: $498,1822012Assets 2020: $462,827Liabilities 2020: $46,825Net Assets 2020: $416,0022020Assets 2021: $425,823Liabilities 2021: $43,132Net Assets 2021: $382,6912021Assets 2022: $486,095Liabilities 2022: $1,340Net Assets 2022: $484,7552022Assets 2023: $417,016Liabilities 2023: $1,847Net Assets 2023: $415,1692023Assets 2024: $397,735Liabilities 2024: $2,873Net Assets 2024: $394,8622024Assets 2025: $409,945Liabilities 2025: $2,195Net Assets 2025: $407,7502025

Highlighted filing

2021

Assets$425,823
Liabilities$43,132
Net Assets$382,691
Open 2021 Filing

Operations Trend

Revenue Growth26th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$300K$200K$100K$0-$100KExpenses 2010: $210,5362010Revenue 2011: $241,033Expenses 2011: $146,965Net Income 2011: $94,0682011Expenses 2012: $154,7832012Revenue 2020: $139,202Expenses 2020: $118,050Net Income 2020: $21,1522020Revenue 2021: $112,557Expenses 2021: $125,297Net Income 2021: -$12,7402021Revenue 2022: $196,634Expenses 2022: $150,262Net Income 2022: $46,3722022Revenue 2023: $153,032Expenses 2023: $154,279Net Income 2023: -$1,2472023Revenue 2024: $157,757Expenses 2024: $178,064Net Income 2024: -$20,3072024Revenue 2025: $179,963Expenses 2025: $167,075Net Income 2025: $12,8882025

Highlighted filing

2021

Revenue$112,557
Expenses$125,297
Net Income-$12,740
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 21, 2022
Return Version
2021v4.2
Gross Receipts
$151,704
Mission and Program Overview

Mission

Promote economic development in webster city, iowa, and hamilton county, iowa

Promote economic development in webster city, iowa and ahmilton county

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$416,002$382,691▼ $33,311
Savings and Temporary Cash Investments$346,582$322,567▼ $24,015
Accounts Receivable$59,516$32,393▼ $27,123
Other Notes and Loans Receivable, Net$44,422$30,282▼ $14,140
Cash and Non-Interest-Bearing Accounts$11,393$22,840▲ $11,447
Land, Buildings, and Equipment, Net$914$17,741▲ $16,827
Total Assets$462,827$425,823▼ $37,004
Liabilities
Deferred Revenue$42,411$42,411→ $0
Accounts Payable and Accrued Expenses$4,414$721▼ $3,693
Total Liabilities$46,825$43,132▼ $3,693
Net Assets / Fund Balance
Total Net Assets Fund Balance$416,002$382,691▼ $33,311
Total Liabilities and Net Assets / Fund Balance$462,827$425,823▼ $37,004

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$268$35,136$35,404
Leasehold Improvements$17,473$14,637$32,110
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jennifer PetermanProgram DirectorFT$41,946$41,946
Candace RubyProgram DirectorFT$7,650$7,650

Board Members and Trustees

NameTitle
Ryan WilliamsPresident
Jeff MacrunnelVice President
Ariel BertranDirector
Greg LittlejohnDirector
James KummDirector
Kelly HamanDirector
Mark FergesonDirector
Biridiana BishopCity Liaision
Jamie GriffithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$110,942
Program Service Revenue
$665
Investment Income
$919
Other Revenue
$31
All Other Contributions
$819
Change in Net Assets
$-12,740
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$76,255
Other Expenses$48,099
Grants and Similar Amounts Paid$943
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$49,596--$49,596
Other Salaries and Wages$18,010--$18,010
Payroll Taxes$8,649--$8,649
Insurance$7,724--$7,724
Office Expenses$7,396--$7,396
Occupancy$5,877--$5,877
Fees for Services Accounting$4,962--$4,962
Information Technology$3,718--$3,718
Grants to Domestic Orgs$943--$943
Advertising$805--$805
Depreciation Depletion$793--$793
Fees for Services Legal$600--$600
Other Expenses$187--$187
Travel$55--$55
Total Functional Expenses$125,297$0$0$125,297
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$39,147
Fundraising Gross Income$38,567
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Junquefest$9,337$9,337$12,463$-3,126
Cuddles Kids$4,400$4,400$4,886$-486
Total Events$38,567$38,567$39,147$-580
Political and Lobbying Activity
Political campaign 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
Backup withholding compliance
No
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Members or stockholder classes and rights Part VI line 6

“The organization is supported by voluntary membership of local businesses and individuals. Those members are assessed annual membership dues.”

Member election for additional members Part VI line 7A

“The voluntary membership as a whole has the right and obligation to participate in the election of the governing board of directors of the organization.”

Form 990 governing body review Part VI line 11

“Form 990 is provided to the officers of the organization prior to filing and the officers are then responsible to provide a copy to the governing board of directors. Any questions or issues from the officers or governing board of directors regarding the form 990 are then addressed to the tax return preparer and responded to accordingly.”

Conflict of interest policy compliance Part VI line 12C

“Compliance issues are addressed and reviewed annually in the process of an annual performance review of the key employees (program directors).”

CEO executive director top management comp Part VI line 15A

“Compensation of the key employees is determined and reviewed by the governing board of directors on an annual basis. The documentation of these decisions are recorded in the regular meeting minutes of the governing board. Decisions are made base on performance and comparability to similar organizations in the surrounding areas.”

Other officer or key employee compensation Part VI line 15B

“Same as explanation for question 15a, part vi”

Governing documents etc available to public Part VI line 19

“All governing documents, polices and financial statements are available for public review upon request at the organizations office in webster city, iowa”

Filing and Contact Details

Filer

Filer Name
Webster City Area Abi Inc
EIN
42-1378078
Address
628 SECOND STREET, WEBSTER CITY, IA 50595

Signing Officer

Name
Ryan Williams
Title
President
Phone
5158322564
Signed
2022-10-21
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
2

Preparer

Firm
Hassebrock Tax & Wealth Mgmt LLC
Address
522 SECOND STREET STE 2, WEBSTER CITY, IA 50595
Preparer
Troy V Hassebrock CPA
Phone
5158323511
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION IS SUPPORTED BY VOLUNTARY MEMBERSHIP OF LOCAL BUSINESSES AND INDIVIDUALS. THOSE MEMBERS ARE ASSESSED ANNUAL MEMBERSHIP DUES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE VOLUNTARY MEMBERSHIP AS A WHOLE HAS THE RIGHT AND OBLIGATION TO PARTICIPATE IN THE ELECTION OF THE GOVERNING BOARD OF DIRECTORS OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 IS PROVIDED TO THE OFFICERS OF THE ORGANIZATION PRIOR TO FILING AND THE OFFICERS ARE THEN RESPONSIBLE TO PROVIDE A COPY TO THE GOVERNING BOARD OF DIRECTORS. ANY QUESTIONS OR ISSUES FROM THE OFFICERS OR GOVERNING BOARD OF DIRECTORS REGARDING THE FORM 990 ARE THEN ADDRESSED TO THE TAX RETURN PREPARER AND RESPONDED TO ACCORDINGLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPLIANCE ISSUES ARE ADDRESSED AND REVIEWED ANNUALLY IN THE PROCESS OF AN ANNUAL PERFORMANCE REVIEW OF THE KEY EMPLOYEES (PROGRAM DIRECTORS).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION OF THE KEY EMPLOYEES IS DETERMINED AND REVIEWED BY THE GOVERNING BOARD OF DIRECTORS ON AN ANNUAL BASIS. THE DOCUMENTATION OF THESE DECISIONS ARE RECORDED IN THE REGULAR MEETING MINUTES OF THE GOVERNING BOARD. DECISIONS ARE MADE BASE ON PERFORMANCE AND COMPARABILITY TO SIMILAR ORGANIZATIONS IN THE SURROUNDING AREAS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SAME AS EXPLANATION FOR QUESTION 15A, PART VI
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL GOVERNING DOCUMENTS, POLICES AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC REVIEW UPON REQUEST AT THE ORGANIZATIONS OFFICE IN WEBSTER CITY, IOWA
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Governing documents etc available to public Part VI line 19
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ReturnHeader/BuildTS02022-09-23 18:48:47Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0RYAN WILLIAMS
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-10-21
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Document Assets

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Filings

Displayed year

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

Open filing
Assets
$425,823
Liabilities
$43,132
Net assets
$382,691
Revenue
$112,557
Expenses
$125,297
Net income
-$12,740
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.10$0.02$4.08$1.80$1.67$0.13
2024Detailed filing. Detailed filing data is available for this year.$3.98$0.03$3.95$1.58$1.78$0.20
2023Detailed filing. Detailed filing data is available for this year.$4.17$0.02$4.15$1.53$1.54$0.01
2022Detailed filing. Detailed filing data is available for this year.$4.86$0.01$4.85$1.97$1.50$0.46
2021Detailed filing. Detailed filing data is available for this year.$4.26$0.43$3.83$1.13$1.25$0.13
2020Summary only. Only limited summary data is available for this year.$4.63$0.47$4.16$1.39$1.18$0.21
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.03$0.05$4.98$1.55
2011Summary only. Only limited summary data is available for this year.$4.96$0.03$4.93$2.41$1.47$0.94
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.09$0.10$3.99$2.11