Civic Intelligence

Grimes Area Chamber of Commerce DBA Grimes Chamber & Economic Developmen

990 • Fiscal year 2019 • EIN 42-1445531

Jan 01, 2019 to Dec 31, 2019 • Filed on Feb 24, 2020

Organization ProfileGRIMESIOWA.COM
404 SE 2nd StreetGrimes, IA 50111

(515) 986-5770

Siviq Scores

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

Liabilities / Assets

88th percentile

0.33x

Higher debt load relative to assets than 88% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

87th percentile

0.24x

Higher debt load relative to revenue than 87% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

27th percentile

-7.0%

Higher net margin than 27% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

96th percentile

$98,466

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 29.1% of source-year revenue.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Asset Growth

42nd percentile

-0.6%

Faster asset growth than 42% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

34th percentile

-6.3%

Faster revenue growth than 34% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets88th percentile

Assets

Down

$240,823

Down $1,370 (-0.6%) from 2018

Net Assets

Down

$160,244

Down $23,592 (-13%) from 2018

Liabilities

Up

$80,579

Up $22,222 (+38%) from 2018

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin27th percentile

Revenue

Down

$338,631

Down $22,934 (-6.3%) from 2018

Expenses

Down

$362,223

Down $4,908 (-1.3%) from 2018

Net Income

Down

-$23,592

Down $18,026 (-324%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$400K$300K$200K$100K$0Assets 2010: $131,034Liabilities 2010: $21,703Net Assets 2010: $109,3312010Assets 2011: $123,689Liabilities 2011: $6,535Net Assets 2011: $117,1542011Assets 2012: $135,631Liabilities 2012: $11,282Net Assets 2012: $124,3492012Assets 2013: $180,290Liabilities 2013: $32,839Net Assets 2013: $147,4512013Assets 2014: $207,277Liabilities 2014: $19,539Net Assets 2014: $187,7382014Assets 2015: $239,503Liabilities 2015: $27,270Net Assets 2015: $212,2332015Assets 2016: $251,493Liabilities 2016: $32,618Net Assets 2016: $218,8752016Assets 2017: $259,343Liabilities 2017: $69,941Net Assets 2017: $189,4022017Assets 2018: $242,193Liabilities 2018: $58,357Net Assets 2018: $183,8362018Assets 2019: $240,823Liabilities 2019: $80,579Net Assets 2019: $160,2442019Assets 2020: $199,654Liabilities 2020: $20,194Net Assets 2020: $179,4602020Assets 2021: $307,119Liabilities 2021: $37,145Net Assets 2021: $269,9742021Assets 2022: $391,264Liabilities 2022: $105,926Net Assets 2022: $285,3382022Assets 2023: $393,849Liabilities 2023: $97,418Net Assets 2023: $296,4312023Assets 2024: $325,890Liabilities 2024: $47,330Net Assets 2024: $278,5602024Assets 2025: $318,690Liabilities 2025: $90,244Net Assets 2025: $228,4462025

Highlighted filing

2019

Assets$240,823
Liabilities$80,579
Net Assets$160,244
Open 2019 Filing

Operations Trend

Revenue Growth34th percentile

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

$600K$400K$200K$0-$200KRevenue 2010: $159,938Expenses 2010: $155,611Net Income 2010: $4,3272010Expenses 2011: $168,7692011Expenses 2012: $170,5922012Revenue 2013: $269,965Expenses 2013: $246,863Net Income 2013: $23,1022013Revenue 2014: $296,337Expenses 2014: $256,050Net Income 2014: $40,2872014Revenue 2015: $297,715Expenses 2015: $273,220Net Income 2015: $24,4952015Revenue 2016: $294,906Expenses 2016: $288,264Net Income 2016: $6,6422016Revenue 2017: $323,799Expenses 2017: $353,272Net Income 2017: -$29,4732017Revenue 2018: $361,565Expenses 2018: $367,131Net Income 2018: -$5,5662018Revenue 2019: $338,631Expenses 2019: $362,223Net Income 2019: -$23,5922019Revenue 2020: $331,681Expenses 2020: $312,465Net Income 2020: $19,2162020Revenue 2021: $468,792Expenses 2021: $378,278Net Income 2021: $90,5142021Revenue 2022: $470,930Expenses 2022: $455,566Net Income 2022: $15,3642022Revenue 2023: $546,621Expenses 2023: $535,528Net Income 2023: $11,0932023Revenue 2024: $549,466Expenses 2024: $567,337Net Income 2024: -$17,8712024Revenue 2025: $491,159Expenses 2025: $541,273Net Income 2025: -$50,1142025

Highlighted filing

2019

Revenue$338,631
Expenses$362,223
Net Income-$23,592
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Feb 24, 2020
Return Version
2019v5.0
Gross Receipts
$338,631
Mission and Program Overview

Mission

To promote development of new business and to support and expand existing businesses in grimes, iowa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$156,352$159,446▲ $3,094
Cash and Non-Interest-Bearing Accounts$70,633$66,974▼ $3,659
Land, Buildings, and Equipment, Net$15,208$11,779▼ $3,429
Accounts Receivable-$2,624-
Other Notes and Loans Receivable, Net-$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$242,193$240,823▼ $1,370
Other Assets Total-$0-
Liabilities
Deferred Revenue$50,665$72,369▲ $21,704
Accounts Payable and Accrued Expenses$7,692$8,210▲ $518
Total Liabilities$58,357$80,579▲ $22,222
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$131,034$107,442▼ $23,592
Net Assets With Donor Restrictions$52,802$52,802→ $0
Total Net Assets Fund Balance$183,836$160,244▼ $23,592
Total Liabilities and Net Assets / Fund Balance$242,193$240,823▼ $1,370

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,687$28,425$37,112
Other Land Buildings$3,092$21,187$24,279
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian BuetheExecutive DirectorFT$95,598$2,868$98,466

Board Members and Trustees

NameTitle
Andrea SabusBoard Chair
Dr Holly DavisPast Chair
Ben ButzkeVice Chair
Andrew GroveDirector
Eric JohansenDirector
Greg MeansDirector
Joe NguyenDirector
Katie CrowDirector
Renee SchneiderDirector
Ryan RobertsDirector
Ryleah CrossSecretary
Cara ThompsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$11,200
Program Service Revenue
$324,336
Investment Income
$3,095
Other Revenue
$0
All Other Contributions
$11,200
Change in Net Assets
$-23,592
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$199,339
Other Expenses$160,884
Grants and Similar Amounts Paid$2,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$98,466
Other Salaries and Wages---$83,224
All Other Expenses---$22,111
Travel---$19,452
Conferences and Meetings---$17,157
Payroll Taxes---$13,731
Advertising---$12,303
Other Expenses---$10,427
Fees for Services Accounting---$6,390
Office Expenses---$5,099
Depreciation Depletion---$5,090
Other Employee Benefits---$2,529
Insurance---$2,021
Grants to Domestic Orgs---$2,000
Pension Plan Contributions---$1,389
Total Functional Expenses$0$0$0$362,223
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
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Members consist primarily of businesses within the community or that have an interest in improving and securing the financial strength of the community.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“A nominating committee of board members and representatives of the full membership body provides a slate of names to serve as directors. The slate is approved if no objections or additional nominations are received once the slate is made public. Officers are elected by the board of directors.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“Membership approval is required to make changes to organizational documents or to liquidate the entity. No such action was taken in the tax year reported herein.”

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

“Committees meet to carry out board goals but do not have the authority to transact business.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“Board members are provided copy of 990 for review. Comments are to be forwarded to treasurer, who then addresses concerns with the tax preparer firm.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Board members annually sign a statement that affirms receipt of the policy, understanding of the policy, agreement to comply with the policy and understanding of the federal tax exemption status of the entity.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“Executive director reviews performance and salary for office personnel.Board president reviews performance and salary for executive director, using comparable data from other similar organizations.Full board approves salary levels for all personnel.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“Executive director reviews performance and salary for office personnel.Full board approves salary levels for all personnel.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are available upon request at the corporation's office.”

Filing and Contact Details

Filer

Filer Name
Grimes Chamber & Economic Development
EIN
42-1445531
Phone
5159865770
Address
404 SE 2ND STREET, GRIMES, IA 50111

Signing Officer

Name
Cara Thompson
Title
Treasurer
Signed
2020-02-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cara Thompson
Formed
1995
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
3
Volunteers
50

Preparer

Firm
Timmins Jacobsen & Strawhacker LLP
Address
10550 New York Ave Suite 200, Des Moines, IA 50322-3775
Preparer
Kim L Jacobsen CPA
Phone
5152708080
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IRS990/MissionDesc0TO PROMOTE DEVELOPMENT OF NEW BUSINESS AND TO SUPPORT AND EXPAND EXISTING BUSINESSES IN GRIMES, IOWA.
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IRS990/OtherExpensesGrp/Desc2WEBSITE EXPENSES
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IRS990/OtherExpensesGrp/TotalAmt114988
IRS990/OtherExpensesGrp/TotalAmt211481
IRS990/OtherExpensesGrp/TotalAmt310427
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IRS990/PrincipalOfficerNm0CARA THOMPSON
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IRS990/ProgramServiceRevenueGrp/Desc1Fees & Contracts Gov Agencies
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IRS990/ProgramServiceRevenueGrp/Desc4Membership Dues & Assessments
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0156352
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0159446
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt028425
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt037112
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03092
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt021187
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt024279
IRS990ScheduleD/TotalBookValueLandBuildingsAmt011779
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEMBERS CONSIST PRIMARILY OF BUSINESSES WITHIN THE COMMUNITY OR THAT HAVE AN INTEREST IN IMPROVING AND SECURING THE FINANCIAL STRENGTH OF THE COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A NOMINATING COMMITTEE OF BOARD MEMBERS AND REPRESENTATIVES OF THE FULL MEMBERSHIP BODY PROVIDES A SLATE OF NAMES TO SERVE AS DIRECTORS. THE SLATE IS APPROVED IF NO OBJECTIONS OR ADDITIONAL NOMINATIONS ARE RECEIVED ONCE THE SLATE IS MADE PUBLIC. OFFICERS ARE ELECTED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERSHIP APPROVAL IS REQUIRED TO MAKE CHANGES TO ORGANIZATIONAL DOCUMENTS OR TO LIQUIDATE THE ENTITY. NO SUCH ACTION WAS TAKEN IN THE TAX YEAR REPORTED HEREIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMMITTEES MEET TO CARRY OUT BOARD GOALS BUT DO NOT HAVE THE AUTHORITY TO TRANSACT BUSINESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD MEMBERS ARE PROVIDED COPY OF 990 FOR REVIEW. COMMENTS ARE TO BE FORWARDED TO TREASURER, WHO THEN ADDRESSES CONCERNS WITH THE TAX PREPARER FIRM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5BOARD MEMBERS ANNUALLY SIGN A STATEMENT THAT AFFIRMS RECEIPT OF THE POLICY, UNDERSTANDING OF THE POLICY, AGREEMENT TO COMPLY WITH THE POLICY AND UNDERSTANDING OF THE FEDERAL TAX EXEMPTION STATUS OF THE ENTITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Executive director reviews performance and salary for office personnel.Board president reviews performance and salary for executive director, using comparable data from other similar organizations.Full board approves salary levels for all personnel.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Executive director reviews performance and salary for office personnel.Full board approves salary levels for all personnel.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8DOCUMENTS ARE AVAILABLE UPON REQUEST AT THE CORPORATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0404 SE 2ND STREET 200
IRS990/USAddress/CityNm0GRIMES

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$240,823
Liabilities
$80,579
Net assets
$160,244
Revenue
$338,631
Expenses
$362,223
Net income
-$23,592
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$3.19$0.90$2.28$4.91$5.41$0.50
2024Detailed filing. Detailed filing data is available for this year.$3.26$0.47$2.79$5.49$5.67$0.18
2023Detailed filing. Detailed filing data is available for this year.$3.94$0.97$2.96$5.47$5.36$0.11
2022Detailed filing. Detailed filing data is available for this year.$3.91$1.06$2.85$4.71$4.56$0.15
2021Detailed filing. Detailed filing data is available for this year.$3.07$0.37$2.70$4.69$3.78$0.91
2020Detailed filing. Detailed filing data is available for this year.$2.00$0.20$1.79$3.32$3.12$0.19
2019Detailed filing. Detailed filing data is available for this year.$2.41$0.81$1.60$3.39$3.62$0.24
2018Detailed filing. Detailed filing data is available for this year.$2.42$0.58$1.84$3.62$3.67$0.06
2017Detailed filing. Detailed filing data is available for this year.$2.59$0.70$1.89$3.24$3.53$0.29
2016Detailed filing. Detailed filing data is available for this year.$2.51$0.33$2.19$2.95$2.88$0.07
2015Detailed filing. Detailed filing data is available for this year.$2.40$0.27$2.12$2.98$2.73$0.24
2014Detailed filing. Detailed filing data is available for this year.$2.07$0.20$1.88$2.96$2.56$0.40
2013Detailed filing. Detailed filing data is available for this year.$1.80$0.33$1.47$2.70$2.47$0.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.11$1.24$1.71
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.24$0.07$1.17$1.69
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.22$1.09$1.60$1.56$0.04