Civic Intelligence

Buchanan County Economic Development Commission

990 • Fiscal year 2020 • EIN 42-1441695

Jul 01, 2019 to Jun 30, 2020 • Filed on Oct 05, 2020

Organization ProfileWWW.GROWBUCHANANCOUNTY.COM
PO Box 109Independence, IA 50644

(319) 334-7497

Siviq Scores

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

Liabilities / Assets

45th percentile

0.01x

Higher debt load relative to assets than 45% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

48th percentile

0.03x

Higher debt load relative to revenue than 48% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Net Margin

53rd percentile

10%

Higher net margin than 53% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

85th percentile

$62,213

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 45.8% of source-year revenue.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Source year 2020

Asset Growth

48th percentile

2.5%

Faster asset growth than 48% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

38th percentile

-7.0%

Faster revenue growth than 38% of similar nonprofits.

2020 filings • 501(c)4 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$568,975

Up $13,987 (+2.5%) from 2019

Net Assets

Up

$565,493

Up $13,987 (+2.5%) from 2019

Liabilities

Flat

$3,482

Flat from 2019

Revenue And Expenses
Liabilities / Revenue48th percentileNet Margin53rd percentile

Revenue

Down

$135,745

Down $10,276 (-7.0%) from 2019

Expenses

Up

$121,758

Up $5,003 (+4.3%) from 2019

Net Income

Down

$13,987

Down $15,279 (-52%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth48th percentile

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

$800K$600K$400K$200K$0Assets 2011: $454,014Liabilities 2011: $02011Assets 2012: $419,009Liabilities 2012: $3,418Net Assets 2012: $415,5912012Assets 2013: $339,576Liabilities 2013: $2,780Net Assets 2013: $336,7962013Assets 2014: $352,268Liabilities 2014: $228Net Assets 2014: $352,0402014Assets 2015: $371,085Liabilities 2015: $3,598Net Assets 2015: $367,4872015Assets 2016: $395,426Liabilities 2016: $2,754Net Assets 2016: $392,6722016Assets 2017: $507,028Liabilities 2017: $2,268Net Assets 2017: $504,7602017Assets 2018: $525,632Liabilities 2018: $3,392Net Assets 2018: $522,2402018Assets 2019: $554,988Liabilities 2019: $3,482Net Assets 2019: $551,5062019Assets 2020: $568,975Liabilities 2020: $3,482Net Assets 2020: $565,4932020Assets 2021: $624,100Liabilities 2021: $18,033Net Assets 2021: $606,0672021Assets 2022: $633,158Liabilities 2022: $2,870Net Assets 2022: $630,2882022Assets 2023: $629,321Liabilities 2023: $4,258Net Assets 2023: $625,0632023Assets 2024: $627,752Liabilities 2024: $3,988Net Assets 2024: $623,7642024Assets 2025: $634,988Liabilities 2025: $5,097Net Assets 2025: $629,8912025

Highlighted filing

2020

Assets$568,975
Liabilities$3,482
Net Assets$565,493
Open 2020 Filing

Operations Trend

Revenue Growth38th percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $116,271Expenses 2011: $102,373Net Income 2011: $13,8982011Revenue 2012: $104,459Expenses 2012: $142,882Net Income 2012: -$38,4232012Revenue 2013: $104,446Expenses 2013: $183,241Net Income 2013: -$78,7952013Revenue 2014: $110,033Expenses 2014: $94,789Net Income 2014: $15,2442014Revenue 2015: $114,518Expenses 2015: $99,071Net Income 2015: $15,4472015Revenue 2016: $123,817Expenses 2016: $98,632Net Income 2016: $25,1852016Revenue 2017: $223,297Expenses 2017: $111,209Net Income 2017: $112,0882017Revenue 2018: $134,492Expenses 2018: $117,012Net Income 2018: $17,4802018Revenue 2019: $146,021Expenses 2019: $116,755Net Income 2019: $29,2662019Revenue 2020: $135,745Expenses 2020: $121,758Net Income 2020: $13,9872020Revenue 2021: $146,332Expenses 2021: $105,758Net Income 2021: $40,5742021Revenue 2022: $149,486Expenses 2022: $125,265Net Income 2022: $24,2212022Revenue 2023: $154,451Expenses 2023: $159,676Net Income 2023: -$5,2252023Revenue 2024: $160,014Expenses 2024: $161,313Net Income 2024: -$1,2992024Revenue 2025: $161,132Expenses 2025: $154,346Net Income 2025: $6,7862025

Highlighted filing

2020

Revenue$135,745
Expenses$121,758
Net Income$13,987
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Oct 5, 2020
Return Version
2019v5.0
Gross Receipts
$135,745
Mission and Program Overview

Mission

The primary mission of buchanan county economic development commission (bcedc) is to foster a strong economic environment which supports business, nurtures growth and new investment while attracting sustainable businesses and a quality labor force to our communities. The organization will rely on trusting relationships to unite the communities of buchanan county to promote and facilitate economic development, and to improve the quality of life in our area by building sustainable wealth for those who live, work and play in this portion of the cedar valley region of iowa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$516,648$506,193▼ $10,455
Land, Buildings, and Equipment, Net$2,252$1,694▼ $558
Total Assets$554,988$568,975▲ $13,987
Other Assets Total$36,088$61,088▲ $25,000
Liabilities
Accounts Payable and Accrued Expenses$3,482$3,482→ $0
Total Liabilities$3,482$3,482→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$551,506$565,493▲ $13,987
Total Net Assets Fund Balance$551,506$565,493▲ $13,987
Total Liabilities and Net Assets / Fund Balance$554,988$568,975▲ $13,987

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,694$7,722$9,416
Other Assets Org$25,000--
Compensation and Service Providers
Top Officer Pay85th percentile

Employees

NameTitleFull / Part TimeBaseTotal
George LakeExecutive DiFT$62,213$62,213

Board Members and Trustees

NameTitle
Gerald DenniePresident
Amber YoungblutDirector
Bonnie DavisDirector
Chris EvenDirector
Clayton OhrtDirector
Dave YoungDirector
Dean HamblinDirector
Guy StacyDirector
Joe RawsonDirector
Liz MillerDirector
Maurice WelshDirector
Mike HarterDirector
Sean WalkerDirector
Steve MarlowDirector
Sue WebsterSecretary
Terry ToaleTreasurer
Chad StatonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$131,285
Program Service Revenue
$0
Investment Income
$4,460
Other Revenue
$0
All Other Contributions
$131,285
Change in Net Assets
$13,987
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$87,748
Other Expenses$34,010
Total Fundraising Expense$8,594
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$40,740$28,298$6,221$75,259
Occupancy$6,821$758-$7,579
All Other Expenses$4,414$2,433$346$7,193
Pension Plan Contributions$3,703$2,357$673$6,733
Payroll Taxes$3,165$2,015$576$5,756
Fees for Services Accounting-$3,015-$3,015
Other Expenses$1,265$253$169$1,687
Depreciation Depletion$501$56-$557
Total Functional Expenses$71,580$41,584$8,594$121,758
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The form 990 will be reviewed at the next board meeting.”

Form 990, Page 6, Part VI, Line 19

“The form 990 is made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Buchanan County Economic
EIN
42-1441695
Phone
3193347497
Address
PO BOX 109, INDEPENDENCE, IA 50644

Signing Officer

Name
Terry Toale
Title
Treasurer
Phone
3193347497
Signed
2020-10-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Lake
Formed
1995
Legal Domicile
Ia
Voting Board Members
17
Independent Board Members
17
Employees
2

Preparer

Firm
Gosling & Company Pc
Address
217 N FRANKLIN ST, MANCHESTER, IA 52057-1538
Preparer
Ann O Manson
Phone
5639274810
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The primary mission of buchanan county economic development commission (bcedc) is to foster a strong economic environment which supports business, nurtures growth and new investment while attracting sustainable businesses and a quality labor force to our communities. The organization will rely on trusting relationships to unite the communities of buchanan county to promote and facilitate economic development, and to improve the quality of life in our area by building sustainable wealth for those who live, work and play in this portion of the cedar valley region of iowa.”

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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21551
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt3253
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IRS990/OtherExpensesGrp/ProgramServicesAmt31265
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IRS990/OtherExpensesGrp/TotalAmt14785
IRS990/OtherExpensesGrp/TotalAmt23101
IRS990/OtherExpensesGrp/TotalAmt31687
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt040740
IRS990/OtherSalariesAndWagesGrp/TotalAmt075259
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IRS990/PayrollTaxesGrp/FundraisingAmt0576
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02015
IRS990/PayrollTaxesGrp/ProgramServicesAmt03165
IRS990/PayrollTaxesGrp/TotalAmt05756
IRS990/PensionPlanContributionsGrp/FundraisingAmt0673
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt02357
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt03703
IRS990/PensionPlanContributionsGrp/TotalAmt06733
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0GEORGE LAKE
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt020168
IRS990/PYOtherExpensesAmt031274
IRS990/PYRevenuesLessExpensesAmt029266
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09416
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt125000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND HELD FOR RESALE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1NOTES & LOAN RECEIVABLE
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRIMARY MISSION OF BUCHANAN COUNTY ECONOMIC DEVELOPMENT COMMISSION (BCEDC) IS TO FOSTER A STRONG ECONOMIC ENVIRONMENT WHICH SUPPORTS BUSINESS, NURTURES GROWTH AND NEW INVESTMENT WHILE ATTRACTING SUSTAINABLE BUSINESSES AND A QUALITY LABOR FORCE TO OUR COMMUNITIES. THE ORGANIZATION WILL RELY ON TRUSTING RELATIONSHIPS TO UNITE THE COMMUNITIES OF BUCHANAN COUNTY TO PROMOTE AND FACILITATE ECONOMIC DEVELOPMENT, AND TO IMPROVE THE QUALITY OF LIFE IN OUR AREA BY BUILDING SUSTAINABLE WEALTH FOR THOSE WHO LIVE, WORK AND PLAY IN THIS PORTION OF THE CEDAR VALLEY REGION OF IOWA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 WILL BE REVIEWED AT THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt071580
IRS990/TotalFunctionalExpensesGrp/TotalAmt0121758
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt03482
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IRS990/TotalProgramServiceExpensesAmt071580
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0135745
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IRS990/UponRequestInd0X
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IRS990/WebsiteAddressTxt0WWW.GROWBUCHANANCOUNTY.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-04-22 16:20:28Z
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ReturnHeader/BusinessOfficerGrp/PhoneNum03193347497
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-10-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BUCHANAN COUNTY ECONOMIC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0DEVELOPMENT COMMISSION
ReturnHeader/Filer/BusinessNameControlTxt0BUCH
ReturnHeader/Filer/EIN0421441695
ReturnHeader/Filer/PhoneNum03193347497
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ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt063.232.88.53
ReturnHeader/FilingSecurityInformation/IPDt02020-10-29
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:18:46
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421277818
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GOSLING & COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0217 N FRANKLIN ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MANCHESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0520571538
ReturnHeader/PreparerPersonGrp/PhoneNum05639274810
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-29
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANN O MANSON

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$568,975
Liabilities
$3,482
Net assets
$565,493
Revenue
$135,745
Expenses
$121,758
Net income
$13,987
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.35$0.05$6.30$1.61$1.54$0.07
2024Detailed filing. Detailed filing data is available for this year.$6.28$0.04$6.24$1.60$1.61$0.01
2023Detailed filing. Detailed filing data is available for this year.$6.29$0.04$6.25$1.54$1.60$0.05
2022Detailed filing. Detailed filing data is available for this year.$6.33$0.03$6.30$1.49$1.25$0.24
2021Detailed filing. Detailed filing data is available for this year.$6.24$0.18$6.06$1.46$1.06$0.41
2020Detailed filing. Detailed filing data is available for this year.$5.69$0.03$5.65$1.36$1.22$0.14
2019Detailed filing. Detailed filing data is available for this year.$5.55$0.03$5.52$1.46$1.17$0.29
2018Detailed filing. Detailed filing data is available for this year.$5.26$0.03$5.22$1.34$1.17$0.17
2017Detailed filing. Detailed filing data is available for this year.$5.07$0.02$5.05$2.23$1.11$1.12
2016Detailed filing. Detailed filing data is available for this year.$3.95$0.03$3.93$1.24$0.99$0.25
2015Detailed filing. Detailed filing data is available for this year.$3.71$0.04$3.67$1.15$0.99$0.15
2014Detailed filing. Detailed filing data is available for this year.$3.52$0.00$3.52$1.10$0.95$0.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.40$0.03$3.37$1.04$1.83$0.79
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.19$0.03$4.16$1.04$1.43$0.38
2011Summary only. Only limited summary data is available for this year.$4.54$0.00$1.16$1.02$0.14