Civic Intelligence

Warren County Economic Development

990 • Fiscal year 2021 • EIN 42-1393420

Jul 01, 2020 to Jun 30, 2021 • Filed on Oct 11, 2021

Organization Profilewww.wcedc.com
111 N Buxton AveIndianola, IA 50125

(515) 961-1067

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.01x

Higher debt load relative to assets than 32% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

36th percentile

0.02x

Higher debt load relative to revenue than 36% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Net Margin

82nd percentile

28%

Higher net margin than 82% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2021 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2021

Asset Growth

54th percentile

14%

Faster asset growth than 54% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

14th percentile

-21%

Faster revenue growth than 14% of similar nonprofits.

2021 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$580,121

Up $69,134 (+14%) from 2020

Net Assets

Up

$575,642

Up $68,616 (+14%) from 2020

Liabilities

Up

$4,479

Up $518 (+13%) from 2020

Revenue And Expenses
Liabilities / Revenue36th percentileNet Margin82nd percentile

Revenue

Down

$242,530

Down $62,658 (-21%) from 2020

Expenses

Down

$173,914

Down $62,564 (-26%) from 2020

Net Income

Down

$68,616

Down $94 (-0.1%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth54th percentile

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

$600K$400K$200K$0Assets 2012: $121,994Liabilities 2012: $6,019Net Assets 2012: $115,9752012Assets 2013: $184,697Liabilities 2013: $7,148Net Assets 2013: $177,5492013Assets 2014: $220,066Liabilities 2014: $7,320Net Assets 2014: $212,7462014Assets 2015: $258,242Liabilities 2015: $3,941Net Assets 2015: $254,3012015Assets 2016: $365,258Liabilities 2016: $5,323Net Assets 2016: $359,9352016Assets 2017: $357,679Liabilities 2017: $3,382Net Assets 2017: $354,2972017Assets 2018: $435,133Liabilities 2018: $3,870Net Assets 2018: $431,2632018Assets 2019: $442,023Liabilities 2019: $3,707Net Assets 2019: $438,3162019Assets 2020: $510,987Liabilities 2020: $3,961Net Assets 2020: $507,0262020Assets 2021: $580,121Liabilities 2021: $4,479Net Assets 2021: $575,6422021Assets 2022: $583,192Liabilities 2022: $4,517Net Assets 2022: $578,6752022Assets 2023: $593,101Liabilities 2023: $4,026Net Assets 2023: $589,0752023Assets 2024: $582,172Liabilities 2024: $4,520Net Assets 2024: $577,6522024

Highlighted filing

2021

Assets$580,121
Liabilities$4,479
Net Assets$575,642
Open 2021 Filing

Operations Trend

Revenue Growth14th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2012: $294,260Expenses 2012: $336,940Net Income 2012: -$42,6802012Revenue 2013: $346,907Expenses 2013: $285,333Net Income 2013: $61,5742013Revenue 2014: $321,976Expenses 2014: $286,779Net Income 2014: $35,1972014Revenue 2015: $277,523Expenses 2015: $235,968Net Income 2015: $41,5552015Revenue 2016: $337,464Expenses 2016: $231,830Net Income 2016: $105,6342016Revenue 2017: $253,282Expenses 2017: $258,920Net Income 2017: -$5,6382017Revenue 2018: $281,160Expenses 2018: $204,194Net Income 2018: $76,9662018Revenue 2019: $221,852Expenses 2019: $214,799Net Income 2019: $7,0532019Revenue 2020: $305,188Expenses 2020: $236,478Net Income 2020: $68,7102020Revenue 2021: $242,530Expenses 2021: $173,914Net Income 2021: $68,6162021Revenue 2022: $238,387Expenses 2022: $235,354Net Income 2022: $3,0332022Revenue 2023: $239,765Expenses 2023: $229,365Net Income 2023: $10,4002023Revenue 2024: $239,469Expenses 2024: $250,892Net Income 2024: -$11,4232024

Highlighted filing

2021

Revenue$242,530
Expenses$173,914
Net Income$68,616
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Oct 11, 2021
Return Version
2020v4.0
Gross Receipts
$242,530
Mission and Program Overview

Mission

To create and retain jobs while enhancing the quality of life in warren county, accomplished foremost by strengthening and supporting the business climate in the area

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$267,029$347,381▲ $80,352
Savings and Temporary Cash Investments$190,216$191,172▲ $956
Other Notes and Loans Receivable, Net$51,450$40,085▼ $11,365
Land, Buildings, and Equipment, Net$2,292$1,483▼ $809
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$510,987$580,121▲ $69,134
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$3,961$4,479▲ $518
Total Liabilities$3,961$4,479▲ $518
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$507,026$575,642▲ $68,616
Total Net Assets Fund Balance$507,026$575,642▲ $68,616
Total Liabilities and Net Assets / Fund Balance$510,987$580,121▲ $69,134

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1,483$10,367$11,850
Compensation and Service Providers
Top Officer Pay46th percentile

Board Members and Trustees

NameTitle
Douglas ShullPresident
Clint WellingVice President
Aaron De KockDirector
Brad RudolfDirector
Deven MarkleyDirector
Jack BohlenderDirector
Jeff SchugDirector
Jim MeadowsDirector
Rachel WackerDirector
Ryan WallerDirector
Scott JamesDirector
Steve BruereDirector
T M Franklin CownieDirector
Tom PhillipsDirector
Stacie LovanEx-Officio Mem
Diane HallSecretary
Denis FrischmeyerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$240,316
Program Service Revenue
$0
Investment Income
$2,214
Other Revenue
$0
All Other Contributions
$22,000
Change in Net Assets
$68,616
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$135,868
Other Expenses$38,046
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$120,750
Payroll Taxes---$9,387
Fees for Services Accounting---$4,772
Other Employee Benefits---$3,526
Insurance---$3,316
Pension Plan Contributions---$2,205
Information Technology---$2,102
Other Expenses---$1,978
All Other Expenses---$1,893
Depreciation Depletion---$809
Advertising---$391
Total Functional Expenses$0$0$0$173,914
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“Draft of form 990 provided to executive committee for review prior to filing”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Executive committee recommends compensation of staff for board of directors approval”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“All appropriate documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Warren County Economic Development
EIN
42-1393420
Phone
5159611067
Address
111 N BUXTON AVE, INDIANOLA, IA 50125

Signing Officer

Name
Douglas Shull
Title
President
Signed
2021-10-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Shull
Formed
1992
Legal Domicile
Ia
Voting Board Members
17
Independent Board Members
17
Employees
2

Preparer

Firm
Shull Schrum Mcclaflin & Co Inc
Address
1111 N Jefferson, Indianola, IA 50125
Preparer
Arlen D Schrum
Phone
5159612571
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt00
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IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt010367
IRS990/LandBldgEquipBasisNetGrp/BOYAmt02292
IRS990/LandBldgEquipBasisNetGrp/EOYAmt01483
IRS990/LandBldgEquipCostOrOtherBssAmt011850
IRS990/LegalDomicileStateCd0IA
IRS990/LoanOutstandingInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingCashInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0TO CREATE AND RETAIN JOBS WHILE ENHANCING THE QUALITY OF LIFE IN WARREN COUNTY, ACCOMPLISHED FOREMOST BY STRENGTHENING AND SUPPORTING THE BUSINESS CLIMATE IN THE AREA
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0507026
IRS990/NetAssetsOrFundBalancesEOYAmt0575642
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0507026
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0575642
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0true
IRS990/NondeductibleContriDisclInd0true
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt03526
IRS990/OtherExpensesGrp/Desc0BUSINESS GRANTS
IRS990/OtherExpensesGrp/Desc1MEMBERSHIPS
IRS990/OtherExpensesGrp/Desc2COPIER LEASE
IRS990/OtherExpensesGrp/Desc3TELEPHONE & INTERNET
IRS990/OtherExpensesGrp/TotalAmt012177
IRS990/OtherExpensesGrp/TotalAmt18496
IRS990/OtherExpensesGrp/TotalAmt22112
IRS990/OtherExpensesGrp/TotalAmt31978
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0120750
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt051450
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt040085
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt09387
IRS990/PensionPlanContributionsGrp/TotalAmt02205
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0DOUGLAS SHULL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0303275
IRS990/PYInvestmentIncomeAmt01913
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0104898
IRS990/PYRevenuesLessExpensesAmt068710
IRS990/PYSalariesCompEmpBnftPaidAmt0131580
IRS990/PYTotalExpensesAmt0236478
IRS990/PYTotalRevenueAmt0305188
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt068616
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0190216
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0191172
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01483
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt010367
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt011850
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01483
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DRAFT OF FORM 990 PROVIDED TO EXECUTIVE COMMITTEE FOR REVIEW PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EXECUTIVE COMMITTEE RECOMMENDS COMPENSATION OF STAFF FOR BOARD OF DIRECTORS APPROVAL
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL APPROPRIATE DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0510987
IRS990/TotalAssetsEOYAmt0580121
IRS990/TotalAssetsGrp/BOYAmt0510987
IRS990/TotalAssetsGrp/EOYAmt0580121
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0240316
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0173914
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03961
IRS990/TotalLiabilitiesEOYAmt04479
IRS990/TotalLiabilitiesGrp/BOYAmt03961
IRS990/TotalLiabilitiesGrp/EOYAmt04479
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0507026
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0575642
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02214
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0242530
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0510987
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0580121
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0111 N BUXTON AVE
IRS990/USAddress/CityNm0INDIANOLA
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050125
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0www.wcedc.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUGLAS SHULL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-10-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WARREN COUNTY ECONOMIC DEVELOPMENT

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$580,121
Liabilities
$4,479
Net assets
$575,642
Revenue
$242,530
Expenses
$173,914
Net income
$68,616
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.82$0.05$5.78$2.39$2.51$0.11
2023Detailed filing. Detailed filing data is available for this year.$5.93$0.04$5.89$2.40$2.29$0.10
2022Detailed filing. Detailed filing data is available for this year.$5.83$0.05$5.79$2.38$2.35$0.03
2021Detailed filing. Detailed filing data is available for this year.$5.80$0.04$5.76$2.43$1.74$0.69
2020Detailed filing. Detailed filing data is available for this year.$5.11$0.04$5.07$3.05$2.36$0.69
2019Detailed filing. Detailed filing data is available for this year.$4.42$0.04$4.38$2.22$2.15$0.07
2018Detailed filing. Detailed filing data is available for this year.$4.35$0.04$4.31$2.81$2.04$0.77
2017Detailed filing. Detailed filing data is available for this year.$3.58$0.03$3.54$2.53$2.59$0.06
2016Detailed filing. Detailed filing data is available for this year.$3.65$0.05$3.60$3.37$2.32$1.06
2015Summary only. Only limited summary data is available for this year.$2.58$0.04$2.54$2.78$2.36$0.42
2014Summary only. Only limited summary data is available for this year.$2.20$0.07$2.13$3.22$2.87$0.35
2013Summary only. Only limited summary data is available for this year.$1.85$0.07$1.78$3.47$2.85$0.62
2012Summary only. Only limited summary data is available for this year.$1.22$0.06$1.16$2.94$3.37$0.43