Civic Intelligence

MID Iowa Development Fund Inc.

990 • Fiscal year 2022 • EIN 42-1437567

Oct 01, 2021 to Sep 30, 2022 • Filed on Jan 15, 2023

Organization ProfileN/A
PO Box 768Carroll, IA 51401

(712) 792-9914

Siviq Scores

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

Liabilities / Assets

21st percentile

0.00x

Higher debt load relative to assets than 21% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

20th percentile

0.00x

Higher debt load relative to revenue than 20% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

98th percentile

91%

Higher net margin than 98% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

78th percentile

23%

Faster asset growth than 78% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2022

Revenue Growth

96th percentile

225%

Faster revenue growth than 96% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2022

Balance Sheet
Liabilities / Assets21st percentile

Assets

Up

$1,005,486

Up $461,215 (+85%) from 2019

Net Assets

Up

$1,004,303

Up $472,312 (+89%) from 2019

Liabilities

Down

$1,183

Down $11,097 (-90%) from 2019

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin98th percentile

Revenue

Up

$442,377

Up $429,504 (+3336%) from 2019

Expenses

Up

$38,796

Up $13,675 (+54%) from 2019

Net Income

Up

$403,581

Up $415,829 (+3395%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

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

2022

Assets$1,005,486
Liabilities$1,183
Net Assets$1,004,303
Open 2022 Filing

Operations Trend

Revenue Growth96th percentile

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

2022

Revenue$442,377
Expenses$38,796
Net Income$403,581
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Jan 15, 2023
Return Version
2021v4.1
Gross Receipts
$442,377
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.

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net-$646,586-
Cash and Non-Interest-Bearing Accounts-$358,900-
Total Assets$0$1,005,486▲ $1,005,486
Liabilities
Accounts Payable and Accrued Expenses-$1,183-
Total Liabilities$0$1,183▲ $1,183
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$1,004,303-
Total Net Assets Fund Balance$0$1,004,303▲ $1,004,303
Total Liabilities and Net Assets / Fund Balance$0$1,005,486▲ $1,005,486
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Troy BoelmanPresident
Clyde EvanVice President
Brad GolightlyDirector
Clint WellingDirector
Craig DownsDirector
Crystal McintyreDirector
Deb BengtsonDirector
Dylan KlineDirector
Hollie ZajicekDirector
Jeff DavidsonDirector
Michelle FullertonDirector
Steve Van OortDirector
Marc MeyerSec/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$420,790
Program Service Revenue
$20,810
Investment Income
$777
Other Revenue
$0
Change in Net Assets
$403,581

Audited Revenue Reconciliation

Revenue per Audited Statements
$442,377
Total Revenue per Audited Statements
$442,377
Total Revenue per Form 990
$442,377
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$38,796
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 Management$0$35,670$0$35,670
Office Expenses$1,926$0$0$1,926
Fees for Services Accounting$0$1,200$0$1,200
Total Functional Expenses$1,926$36,870$0$38,796

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$38,796
Total Expenses per Audited Statements$38,796
Total Expenses per Form 990$38,796
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
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
Richard Hunsaker
Title
Executive Director
Phone
7127929914
Signed
2023-01-15
Discuss with paid preparer
Yes

Organization Details

Formed
1995
Legal Domicile
Ia
Voting Board Members
14
Independent Board Members
14
Employees
0
Volunteers
0

Preparer

Firm
John D Morrow CPA
Address
109 Main Street PO Box 400, Wall Lake, IA 51466
Preparer
Dawn Potthoff
Phone
7126642891
Supplemental Narrative

Additional Explanations

Pt VI, 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.”

Pt VI, 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.”

Pt VI, Line 12C

“The Board reviews the Organization's disbursements quarterly and may inquire about any conflict of interest exeistence. The Board of Directors are required to disclose any Conflict of Interests by signing agreements.”

Pt VI, Line 19

“The governing documents can be found on the Iowa Secretary of State website or at 1009 E Anthony St, Carroll, IA. All these documents are made available upon request.”

Pt XII, Line 2C

“The Board of Directors are responsible for the annual selection and approval of the audit.”

Other

“In the past, the Organization was not required to file Form 990 but did meet the obligation of filing the annual 990 postcard.”

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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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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 exeistence. The Board of Directors are required to disclose any Conflict of Interests by signing agreements.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The governing documents can be found on the Iowa Secretary of State website or at 1009 E Anthony St, Carroll, IA. All these documents are made available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Board of Directors are responsible for the annual selection and approval of the audit.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5In the past, the Organization was not required to file Form 990 but did meet the obligation of filing the annual 990 postcard.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 7a
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt XII, Line 2c
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IRS990/TotalAssetsEOYAmt01005486
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt01005486
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0420790
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt036870
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01926
IRS990/TotalFunctionalExpensesGrp/TotalAmt038796
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt01183
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01183
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01004303
IRS990/TotalProgramServiceExpensesAmt01926
IRS990/TotalProgramServiceRevenueAmt020810
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021587
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0442377
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01005486
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01009 E ANTHONY ST
IRS990/USAddress/CityNm0CARROLL
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051401
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0RICHARD HUNSAKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07127929914
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-01-15
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/PreparerFirmGrp/PreparerFirmEIN0421083598
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0John D Morrow CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0109 Main Street PO Box 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Wall Lake
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd051466
ReturnHeader/PreparerPersonGrp/PhoneNum07126642891
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Dawn Potthoff
ReturnHeader/ReturnTs02023-08-14T09:10:55-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0RICHARD
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0HUNSAKER
ReturnHeader/TaxPeriodBeginDt02021-10-01
ReturnHeader/TaxPeriodEndDt02022-09-30
ReturnHeader/TaxYr02021

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Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$1,005,486
Liabilities
$1,183
Net assets
$1,004,303
Revenue
$442,377
Expenses
$38,796
Net income
$403,581
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