Civic Intelligence

Warren County Economic Development

990 • Fiscal year 2023 • EIN 42-1393420

Jul 01, 2022 to Jun 30, 2023 • Filed on Oct 11, 2023

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

34th percentile

0.01x

Higher debt load relative to assets than 34% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

39th percentile

0.02x

Higher debt load relative to revenue than 39% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Net Margin

53rd percentile

4.3%

Higher net margin than 53% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2023 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2023

Asset Growth

43rd percentile

1.7%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

33rd percentile

0.6%

Faster revenue growth than 33% of similar nonprofits.

2023 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets34th percentile

Assets

Up

$593,101

Up $9,909 (+1.7%) from 2022

Net Assets

Up

$589,075

Up $10,400 (+1.8%) from 2022

Liabilities

Down

$4,026

Down $491 (-11%) from 2022

Revenue And Expenses
Liabilities / Revenue39th percentileNet Margin53rd percentile

Revenue

Up

$239,765

Up $1,378 (+0.6%) from 2022

Expenses

Down

$229,365

Down $5,989 (-2.5%) from 2022

Net Income

Up

$10,400

Up $7,367 (+243%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth43rd 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

2023

Assets$593,101
Liabilities$4,026
Net Assets$589,075
Open 2023 Filing

Operations Trend

Revenue Growth33rd 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

2023

Revenue$239,765
Expenses$229,365
Net Income$10,400
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 11, 2023
Return Version
2022v5.0
Gross Receipts
$239,765
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$358,125$325,799▼ $32,326
Savings and Temporary Cash Investments$191,715$192,741▲ $1,026
Other Notes and Loans Receivable, Net$31,973$73,695▲ $41,722
Land, Buildings, and Equipment, Net$1,379$866▼ $513
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$583,192$593,101▲ $9,909
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$4,517$4,026▼ $491
Total Liabilities$4,517$4,026▼ $491
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$578,675$589,075▲ $10,400
Total Net Assets Fund Balance$578,675$589,075▲ $10,400
Total Liabilities and Net Assets / Fund Balance$583,192$593,101▲ $9,909

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$866$11,540$12,406
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Douglas ShullPresident
Clint WellingVice President
Brad MunfordDirector
Brad RudolfDirector
Charlie DissellDirector
Deven MarkleyDirector
Jack BohlenderDirector
Kyle WalkerDirector
Mark SnellDirector
Scott JamesDirector
T M Franklin CownieDirector
Tom PhillipsDirector
Diane HallSecretary
Denis FrischmeyerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$237,545
Program Service Revenue
$0
Investment Income
$2,220
Other Revenue
$0
All Other Contributions
$16,200
Change in Net Assets
$10,400
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$144,599
Other Expenses$84,766
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$123,512
Payroll Taxes---$9,651
Other Employee Benefits---$8,951
Fees for Services Accounting---$8,309
All Other Expenses---$7,072
Insurance---$3,570
Other Expenses---$3,051
Travel---$2,965
Information Technology---$2,718
Pension Plan Contributions---$2,485
Advertising---$1,428
Depreciation Depletion---$513
Total Functional Expenses$0$0$0$229,365
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, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 15A

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

Form 990, Part VI, Section C, Line 19

“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
2023-10-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Shull
Formed
1992
Legal Domicile
Ia
Voting Board Members
14
Independent Board Members
14
Employees
3

Preparer

Firm
Shull Schrum Mcclaflin & Co Inc
Address
1111 N Jefferson, Indianola, IA 50125
Preparer
Aaron Frazier
Phone
5159612571
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IRS990/NondeductibleContriDisclInd0true
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt08951
IRS990/OtherExpensesGrp/Desc0BUSINESS GRANTS
IRS990/OtherExpensesGrp/Desc1MEMBERSHIPS
IRS990/OtherExpensesGrp/Desc2MARKETING SUPPLIES
IRS990/OtherExpensesGrp/Desc3TRAINING
IRS990/OtherExpensesGrp/TotalAmt028518
IRS990/OtherExpensesGrp/TotalAmt123561
IRS990/OtherExpensesGrp/TotalAmt23061
IRS990/OtherExpensesGrp/TotalAmt33051
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt0123512
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt031973
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt073695
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt09651
IRS990/PensionPlanContributionsGrp/TotalAmt02485
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0DOUGLAS SHULL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0236667
IRS990/PYInvestmentIncomeAmt01720
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt092904
IRS990/PYRevenuesLessExpensesAmt03033
IRS990/PYSalariesCompEmpBnftPaidAmt0142450
IRS990/PYTotalExpensesAmt0235354
IRS990/PYTotalRevenueAmt0238387
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt010400
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0191715
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0192741
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0866
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt011540
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt012406
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0866
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, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0583192
IRS990/TotalAssetsEOYAmt0593101
IRS990/TotalAssetsGrp/BOYAmt0583192
IRS990/TotalAssetsGrp/EOYAmt0593101
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0237545
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0229365
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04517
IRS990/TotalLiabilitiesEOYAmt04026
IRS990/TotalLiabilitiesGrp/BOYAmt04517
IRS990/TotalLiabilitiesGrp/EOYAmt04026
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0578675
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0589075
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalRevenueGrp/ExclusionAmt02220
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0239765
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0583192
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0593101
IRS990/TravelGrp/TotalAmt02965
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0111 N BUXTON AVE
IRS990/USAddress/CityNm0INDIANOLA
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050125
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0www.wcedc.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DOUGLAS SHULL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WARREN COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0WARR
ReturnHeader/Filer/EIN0421393420
ReturnHeader/Filer/PhoneNum05159611067
ReturnHeader/Filer/USAddress/AddressLine1Txt0111 N BUXTON AVE
ReturnHeader/Filer/USAddress/CityNm0INDIANOLA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050125
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472428451
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHULL SCHRUM MCCLAFLIN & CO INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01111 N Jefferson
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Indianola
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050125
ReturnHeader/PreparerPersonGrp/PhoneNum05159612571
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AARON FRAZIER
ReturnHeader/ReturnTs02023-10-11T07:23:38-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DOUGLAS
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SHULL
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
$593,101
Liabilities
$4,026
Net assets
$589,075
Revenue
$239,765
Expenses
$229,365
Net income
$10,400
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