Civic Intelligence

MID Iowa Development Fund Inc.

990 • Fiscal year 2019 • EIN 42-1437567

Oct 01, 2018 to Sep 30, 2019 • Filed on Sep 04, 2020

Organization ProfileN/A
1205 North DrPolk City, IA 50226

(515) 987-2020

Siviq Scores

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

Liabilities / Assets

47th percentile

0.02x

Higher debt load relative to assets than 47% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

90th percentile

0.95x

Higher debt load relative to revenue than 90% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

3rd percentile

-95%

Higher net margin than 3% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

57th percentile

$24,000

Higher top officer pay than 57% of similar nonprofits.

Top officer pay equals 186.4% of source-year revenue.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2019

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$544,271

Up $49,116 (+9.9%) from 2012

Net Assets

$531,991

No earlier filing loaded for comparison.

Liabilities

Up

$12,280

Up $12,280 from 2012

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin3rd percentile

Revenue

Down

$12,873

Down $12,708 (-50%) from 2012

Expenses

Down

$25,121

Down $2,159 (-7.9%) from 2012

Net Income

Down

-$12,248

Down $10,549 (-621%) from 2012

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$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

2019

Assets$544,271
Liabilities$12,280
Net Assets$531,991
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$12,873
Expenses$25,121
Net Income-$12,248
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Sep 4, 2020
Return Version
2018v3.2
Gross Receipts
$12,873
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
Cash and Non-Interest-Bearing Accounts$407,609$384,861▼ $22,748
Other Notes and Loans Receivable, Net$136,367$159,410▲ $23,043
Total Assets$544,239$544,271▲ $32
Other Assets Total$263$0▼ $263
Liabilities
Accounts Payable and Accrued Expenses$0$12,280▲ $12,280
Total Liabilities$0$12,280▲ $12,280
Net Assets / Fund Balance
Temporarily Rstr Net Assets$467,831$467,831→ $0
Unrestricted Net Assets$76,408$64,160▼ $12,248
Total Net Assets Fund Balance$544,239$531,991▼ $12,248
Total Liabilities and Net Assets / Fund Balance$544,239$544,271▲ $32
Compensation and Service Providers
Top Officer Pay57th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Linda WunschExecutive DirectorPT$24,000$24,000

Board Members and Trustees

NameTitle
Brad GolightlyDirector
Brenda DryerDirector
Clint WellingDirector
Clyde EvansDirector
Doug ShullDirector
Dustin IngramDirector
Hollie ZajicekDirector
Jeff DavidsonDirector
Jon McavoyDirector
Marc MeyerDirector
Steve Van OortDirector
Troy BoelmanDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$12,873
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-12,248

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,873
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$12,873
Total Revenue per Form 990
$12,873
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,121
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
Fees for Services Accounting$24,000--$24,000
Office Expenses$635--$635
Travel$486--$486
Total Functional Expenses$25,121$0$0$25,121

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$25,121
Total Expenses per Audited Statements$25,121
Total Expenses per Form 990$25,121
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
Audit committee
Yes
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
Yes
Conflict-of-interest policy
No
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

“Management reviews form 990 in detail. A copy of form 990 is provided to the board of directors before it is filed with the internal revenue service.”

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

“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
5159872020
Address
1205 NORTH DR, POLK CITY, IA 50226

Signing Officer

Name
Linda Wunsch
Title
Executive Director
Phone
5159872020
Signed
2020-09-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Linda Wunsch
Formed
1995
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
0

Preparer

Firm
Denman & Company 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.”

Financial Statement Notes

PART X, LINE 2:

“Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the collaborative and recognize a tax liability or asset for an uncertain position that more likely than not would not be sustained upon examination by the internal revenue service. Management has evaluated their material tax positions and determined there are no uncertain positions taken or expected to be taken that would require recognition of a liability or asset or disclosures in the financial statements. The entityis subject to routine audits by tax authorities; however, there are currently no audits for any tax periods in progress. Management believes the collaborative is no longer subject to income tax examinations for years prior to 2015.”

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE COLLABORATIVE AND RECOGNIZE A TAX LIABILITY OR ASSET FOR AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE. MANAGEMENT HAS EVALUATED THEIR MATERIAL TAX POSITIONS AND DETERMINED THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR ASSET OR DISCLOSURES IN THE FINANCIAL STATEMENTS. THE ENTITYIS SUBJECT TO ROUTINE AUDITS BY TAX AUTHORITIES; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES THE COLLABORATIVE IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2015.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt025121
IRS990ScheduleD/TotalRevenuePerForm990Amt012873
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012873
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt025121
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT REVIEWS FORM 990 IN DETAIL. A COPY OF FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXCUTIVE DIRECTORS COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS. COMPARABLE COMPENSATION DATA IS COLLECTED AND REVIEWED DURING THIS PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO CHANGES FROM PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0467831
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0467831
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0544239
IRS990/TotalAssetsEOYAmt0544271
IRS990/TotalAssetsGrp/BOYAmt0544239
IRS990/TotalAssetsGrp/EOYAmt0544271
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt025121
IRS990/TotalFunctionalExpensesGrp/TotalAmt025121
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt012280
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt012280
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0544239
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0531991
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt025121
IRS990/TotalProgramServiceRevenueAmt012873
IRS990/TotalReportableCompFromOrgAmt024000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt012873
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt012873
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0544239
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0544271
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0486
IRS990/TravelGrp/TotalAmt0486
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt076408
IRS990/UnrestrictedNetAssetsGrp/EOYAmt064160
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01205 NORTH DR
IRS990/USAddress/CityNm0POLK CITY
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050226
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA WUNSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05159872020
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MID IOWA DEVELOPMENT FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0MIDI
ReturnHeader/Filer/EIN0421437567
ReturnHeader/Filer/PhoneNum05159872020
ReturnHeader/Filer/USAddress/AddressLine1Txt01205 NORTH DR
ReturnHeader/Filer/USAddress/CityNm0POLK CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050226
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0D9C831EDD5BE354E1C519A038A1C7DFC6159E683
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId019128CC7B09C3BB15122BB5210AABB08F0EE9ED9
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.142.53.102
ReturnHeader/FilingSecurityInformation/IPDt02020-09-04
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm012:10:20
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0420794029
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DENMAN & COMPANY 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/ReturnTs02020-09-08T12:04:13-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-10-01
ReturnHeader/TaxPeriodEndDt02019-09-30
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$544,271
Liabilities
$12,280
Net assets
$531,991
Revenue
$12,873
Expenses
$25,121
Net income
-$12,248
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