Civic Intelligence

MID Iowa Development Fund Inc

EIN 42-1437567 • 501(c)3 • Carroll, IA

Profile

To aid in the development of the communities within the region; promoting and stimulating business opportunties and development, both new and existing

PO Box 768Carroll, IA 51401

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

41st percentile

0.00x

Higher debt load relative to assets than 41% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

73rd percentile

0.14x

Higher debt load relative to revenue than 73% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Net Margin

1st percentile

-393%

Higher net margin than 1% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

27th percentile

-5.0%

Faster asset growth than 27% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Revenue Growth

2nd percentile

-75%

Faster revenue growth than 2% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets41st percentile

Assets

Down

$907,061

Down $107,743 (-11%) from 2023

Liabilities

Up

$4,020

Up $4,020 from 2023

Net Assets

Down

$903,041

Down $111,763 (-11%) from 2023

Operations
Liabilities / Revenue73rd percentileNet Margin1st percentile

Revenue

Up

$28,473

Up $2,103 (+8.0%) from 2023

Expenses

Up

$140,236

Up $124,367 (+784%) from 2023

Net Income

Down

-$111,763

Down $122,264 (-1164%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth27th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2011: $496,854Liabilities 2011: $02011Assets 2012: $495,155Liabilities 2012: $02012Assets 2019: $544,271Liabilities 2019: $12,280Net Assets 2019: $531,9912019Assets 2022: $1,005,486Liabilities 2022: $1,183Net Assets 2022: $1,004,3032022Assets 2023: $1,014,804Liabilities 2023: $0Net Assets 2023: $1,014,8042023Assets 2024: $907,061Liabilities 2024: $4,020Net Assets 2024: $903,0412024

Highlighted filing

2024

Assets$907,061
Liabilities$4,020
Net Assets$903,041
Open 2024 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $33,437Expenses 2011: $44,672Net Income 2011: -$11,2352011Revenue 2012: $25,581Expenses 2012: $27,280Net Income 2012: -$1,6992012Revenue 2019: $12,873Expenses 2019: $25,121Net Income 2019: -$12,2482019Revenue 2022: $442,377Expenses 2022: $38,796Net Income 2022: $403,5812022Revenue 2023: $26,370Expenses 2023: $15,869Net Income 2023: $10,5012023Revenue 2024: $28,473Expenses 2024: $140,236Net Income 2024: -$111,7632024

Highlighted filing

2024

Revenue$28,473
Expenses$140,236
Net Income-$111,763
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$907,061
Liabilities
$4,020
Net assets
$903,041
Revenue
$28,473
Expenses
$140,236
Net income
-$111,763
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.90$0.03$0.14$0.11
2023Detailed filing. Detailed filing data is available for this year.$1.01$0.00$1.01$0.03$0.02$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.01$0.00$1.00$0.44$0.04$0.40
2019Detailed filing. Detailed filing data is available for this year.$0.54$0.01$0.53$0.01$0.03$0.01
2012Summary only. Only limited summary data is available for this year.$0.50$0.00$0.03$0.03$0.00
2011Summary only. Only limited summary data is available for this year.$0.50$0.00$0.03$0.04$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Jul 28, 2025
Return Version
2023v6.0
Gross Receipts
$28,473
Mission and Program Overview

Mission

To further the economic development of the region comprised of the iowa counties of boone, dallas, jasper, marion, polk, story and warren, as well as the cities located therein.to promote and assist the growth and development of business concerns, including small and medium sized business concerns in said area.to stimulate business opportunities and development in said area as measured by increased employment, payrolls, business volume and corresponding community benefits, as opposed to monetary benefits to the members of this corporation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$609,694$464,459▼ $145,235
Cash and Non-Interest-Bearing Accounts$401,407$442,602▲ $41,195
Accounts Receivable$3,703--
Total Assets$1,014,804$907,061▼ $107,743
Liabilities
Accounts Payable and Accrued Expenses$0$4,020▲ $4,020
Total Liabilities$0$4,020▲ $4,020
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$586,069$471,371▼ $114,698
Net Assets With Donor Restrictions$428,735$431,670▲ $2,935
Total Net Assets Fund Balance$1,014,804$903,041▼ $111,763
Total Liabilities and Net Assets / Fund Balance$1,014,804$907,061▼ $107,743
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Troy BoelmanPresident
Steve Van OortVice President
Brad GolightlyMember
Carla EysinkMember
Clint WellingMember
Craig DownsMember
Crystal McintyreMember
Dylan KlineMember
Hollie ZajieckMember
Jeff DavidsonMember
Linda MurkenMember
Michelle FullertonMember
Ryan MoffattMember
Marc MeyerSecy/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,037
Investment Income
$16,436
Other Revenue
$0
Change in Net Assets
$-111,763

Audited Revenue Reconciliation

Revenue per Audited Statements
$28,473
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$28,473
Total Revenue per Form 990
$28,473
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$140,236
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$118,224--$118,224
Fees for Services Management$17,337--$17,337
Fees for Services Accounting$4,450--$4,450
Office Expenses$225--$225
Total Functional Expenses$140,236$0$0$140,236

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$140,236
Total Expenses per Audited Statements$140,236
Total Expenses per Form 990$140,236
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 7A

“The mid iowa development board is made up of four (4) elected officials from participating counties and ten (10) representatives from the private sector, community development organizations, lending institutions or local municipalities, all of whom must be a resident of a participating county. When a vacancy occurs through out the year, the current board will approve those willing to serve as a director at their quarterly meetings. There are no term limits.”

Form 990, Part VI, Section B, Line 11B

“The board of directors approves the audit report for the year then ended september 30 at their quarterly meeting. The form 990 is prepared from the audited financial statements and is reviewed and approved by the board of directors. The executive director is authorized to review and sign the return.”

Form 990, Part VI, Section B, Line 12C

“The board reviews the organization's disbursements quarterly and may inquire about any conflict of interest existence. The board of directors are required to disclose any conflict of interests by signing agreements.”

Form 990, Part VI, Section B, Line 15

“The excutive directors compensation is determined by the board of directors. Comparable compensation data is collected and reviewed during this process.”

Form 990, Part VI, Section C, Line 19

“The organization makes it governing documents, conflict of interest policy and financial statements available upon request.”

Filing and Contact Details

Filer

Filer Name
Mid Iowa Development Fund Inc
EIN
42-1437567
Phone
7127929914
Address
PO BOX 768, CARROLL, IA 51401

Signing Officer

Name
Troy Boelman
Title
Board President
Phone
7127929914
Signed
2025-07-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Troy Boelman
Formed
1995
Legal Domicile
Ia
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
Denman CPA Llp
Address
1601 22ND STREET SUITE 400, WEST DES MOINES, IA 50266-1453
Preparer
Steve Bruner
Phone
5152258400
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

“No changes from prior year.”

Raw XML Appendix370 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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IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt015869
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt026370
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-111763
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
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IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
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IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0140236
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt028473
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
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IRS990ScheduleD/TotalRevenuePerForm990Amt028473
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt028473
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MID IOWA DEVELOPMENT BOARD IS MADE UP OF FOUR (4) ELECTED OFFICIALS FROM PARTICIPATING COUNTIES AND TEN (10) REPRESENTATIVES FROM THE PRIVATE SECTOR, COMMUNITY DEVELOPMENT ORGANIZATIONS, LENDING INSTITUTIONS OR LOCAL MUNICIPALITIES, ALL OF WHOM MUST BE A RESIDENT OF A PARTICIPATING COUNTY. WHEN A VACANCY OCCURS THROUGH OUT THE YEAR, THE CURRENT BOARD WILL APPROVE THOSE WILLING TO SERVE AS A DIRECTOR AT THEIR QUARTERLY MEETINGS. THERE ARE NO TERM LIMITS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS APPROVES THE AUDIT REPORT FOR THE YEAR THEN ENDED SEPTEMBER 30 AT THEIR QUARTERLY MEETING. THE FORM 990 IS PREPARED FROM THE AUDITED FINANCIAL STATEMENTS AND IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. THE EXECUTIVE DIRECTOR IS AUTHORIZED TO REVIEW AND SIGN THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS THE ORGANIZATION'S DISBURSEMENTS QUARTERLY AND MAY INQUIRE ABOUT ANY CONFLICT OF INTEREST EXISTENCE. THE BOARD OF DIRECTORS ARE REQUIRED TO DISCLOSE ANY CONFLICT OF INTERESTS BY SIGNING AGREEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXCUTIVE DIRECTORS COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. COMPARABLE COMPENSATION DATA IS COLLECTED AND REVIEWED DURING THIS PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5NO CHANGES FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01014804
IRS990/TotalAssetsEOYAmt0907061
IRS990/TotalAssetsGrp/BOYAmt01014804
IRS990/TotalAssetsGrp/EOYAmt0907061
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0140236
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt04020
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt04020
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01014804
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0903041
IRS990/TotalOtherCompensationAmt00
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IRS990/TotalProgramServiceRevenueAmt012037
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt028473
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt028473
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01014804
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0907061
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01009 E ANTHONY ST
IRS990/USAddress/CityNm0CARROLL
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051401
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0NA
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0TROY BOELMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07127929914
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-07-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MID IOWA DEVELOPMENT FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0MIDI
ReturnHeader/Filer/EIN0421437567
ReturnHeader/Filer/PhoneNum07127929914
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 768
ReturnHeader/Filer/USAddress/CityNm0CARROLL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051401
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0420794029
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DENMAN CPA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01601 22ND STREET SUITE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WEST DES MOINES
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0502661453
ReturnHeader/PreparerPersonGrp/PhoneNum05152258400
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEVE BRUNER
ReturnHeader/ReturnTs02025-07-30T16:16:47-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-10-01
ReturnHeader/TaxPeriodEndDt02024-09-30
ReturnHeader/TaxYr02023

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