Civic Intelligence

Graettinger Economic Development Council

990 • Fiscal year 2021 • EIN 42-1490489

Jan 01, 2021 to Dec 31, 2021 • Filed on Aug 22, 2022

Organization ProfileN/A
PO Box 332Graettinger, IA 51342

(712) 859-3841

Siviq Scores

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

Liabilities / Assets

61st percentile

0.14x

Higher debt load relative to assets than 61% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

68th percentile

0.24x

Higher debt load relative to revenue than 68% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

38th percentile

6.4%

Higher net margin than 38% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

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.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2021

Asset Growth

63rd percentile

16%

Faster asset growth than 63% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

38th percentile

3.4%

Faster revenue growth than 38% of similar nonprofits.

2021 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$1,250,841

Up $176,297 (+16%) from 2020

Net Assets

Up

$1,075,936

Up $45,850 (+4.5%) from 2020

Liabilities

Up

$174,905

Up $130,447 (+293%) from 2020

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin38th percentile

Revenue

Up

$721,021

Up $23,862 (+3.4%) from 2020

Expenses

Down

$675,171

Down $6,851 (-1.0%) from 2020

Net Income

Up

$45,850

Up $30,713 (+203%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth63rd percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,021,981Liabilities 2011: $238,573Net Assets 2011: $783,4082011Assets 2012: $944,160Liabilities 2012: $194,448Net Assets 2012: $749,7122012Assets 2013: $1,625,987Liabilities 2013: $186,003Net Assets 2013: $1,439,9842013Assets 2014: $829,118Liabilities 2014: $30,777Net Assets 2014: $798,3412014Assets 2015: $863,831Liabilities 2015: $30,777Net Assets 2015: $833,0542015Assets 2016: $867,782Liabilities 2016: $30,777Net Assets 2016: $837,0052016Assets 2017: $904,989Liabilities 2017: $0Net Assets 2017: $904,9892017Assets 2018: $1,282,343Liabilities 2018: $340,684Net Assets 2018: $941,6592018Assets 2019: $1,176,167Liabilities 2019: $161,218Net Assets 2019: $1,014,9492019Assets 2020: $1,074,544Liabilities 2020: $44,458Net Assets 2020: $1,030,0862020Assets 2021: $1,250,841Liabilities 2021: $174,905Net Assets 2021: $1,075,9362021Assets 2022: $1,435,324Liabilities 2022: $365,195Net Assets 2022: $1,070,1292022Assets 2023: $1,395,761Liabilities 2023: $358,044Net Assets 2023: $1,037,7172023Assets 2024: $1,225,924Liabilities 2024: $188,180Net Assets 2024: $1,037,7442024

Highlighted filing

2021

Assets$1,250,841
Liabilities$174,905
Net Assets$1,075,936
Open 2021 Filing

Operations Trend

Revenue Growth38th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $301,615Expenses 2011: $555,007Net Income 2011: -$253,3922011Expenses 2012: $651,4912012Revenue 2013: $554,670Expenses 2013: $546,225Net Income 2013: $8,4452013Revenue 2014: $881,838Expenses 2014: $765,786Net Income 2014: $116,0522014Revenue 2015: $594,452Expenses 2015: $579,202Net Income 2015: $15,2502015Revenue 2016: $677,823Expenses 2016: $664,293Net Income 2016: $13,5302016Revenue 2017: $766,302Expenses 2017: $670,655Net Income 2017: $95,6472017Revenue 2018: $892,253Expenses 2018: $665,201Net Income 2018: $227,0522018Revenue 2019: $854,055Expenses 2019: $830,443Net Income 2019: $23,6122019Revenue 2020: $697,159Expenses 2020: $682,022Net Income 2020: $15,1372020Revenue 2021: $721,021Expenses 2021: $675,171Net Income 2021: $45,8502021Revenue 2022: $731,095Expenses 2022: $737,265Net Income 2022: -$6,1702022Revenue 2023: $957,419Expenses 2023: $989,831Net Income 2023: -$32,4122023Revenue 2024: $997,582Expenses 2024: $997,555Net Income 2024: $272024

Highlighted filing

2021

Revenue$721,021
Expenses$675,171
Net Income$45,850
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Aug 22, 2022
Return Version
2021v4.0
Gross Receipts
$734,760
Mission and Program Overview

Mission

Engage in, assist and contribute to the support of economical and industrial development of the city of graettinger, iowa, including the assistance, encouragement and preservation of existing businesses and industries

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$474,343$421,779▼ $52,564
Savings and Temporary Cash Investments$287,247$288,323▲ $1,076
Cash and Non-Interest-Bearing Accounts$196,350$239,368▲ $43,018
Other Notes and Loans Receivable, Net$116,604$112,900▼ $3,704
Inventories for Sale or Use-$55,000-
Accounts Receivable-$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-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,074,544$1,250,841▲ $176,297
Other Assets Total-$133,471-
Liabilities
Other Liabilities$44,458$174,905▲ $130,447
Total Liabilities$44,458$174,905▲ $130,447
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,030,086$1,075,936▲ $45,850
Total Net Assets Fund Balance$1,030,086$1,075,936▲ $45,850
Total Liabilities and Net Assets / Fund Balance$1,074,544$1,250,841▲ $176,297

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$329,039$141,977$471,016
Land$92,740-$92,740
Other Assets Org$123,471--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Jr BrownPresident
Lloyd PetersenVice President
Jermey SimingtonDirector
Karen SpiesSecretary
Marty CurransTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$13,538
Program Service Revenue
$685,346
Investment Income
$1,076
Other Revenue
$21,061
Change in Net Assets
$45,850
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$595,379
Salaries, Compensation, and Employee Benefits$79,792
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$63,559--$63,559
Insurance$11,152--$11,152
Other Employee Benefits$9,046--$9,046
Payroll Taxes$7,187--$7,187
All Other Expenses$7,153--$7,153
Occupancy$6,127--$6,127
Depreciation Depletion$5,458--$5,458
Fees for Services Accounting$4,560--$4,560
Other Expenses$4,004--$4,004
Advertising$3,651--$3,651
Office Expenses$1,392--$1,392
Fees for Services Other$237--$237
Fees for Services Legal$125--$125
Total Functional Expenses$675,171$0$0$675,171
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Spec Home - Seed Funds$150,000
Long Term Liabilities$20,647
Payroll Taxes Payable$2,879
Ins & Re Taxes Payable$1,379
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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, Line 11B: Form 990 Review Process

“REVIEWED BY BOARD”

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

“Continue to monitor to insure no conflicts occur”

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

“Documents available for review upon request”

Filing and Contact Details

Filer

Filer Name
Graettinger Economic Development
EIN
42-1490489
Phone
7128593841
Address
PO BOX 332, GRAETTINGER, IA 51342

Signing Officer

Name
Lloyd Petersen
Title
Vice President
Signed
2022-08-22
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Ia
Voting Board Members
5
Independent Board Members
5
Employees
4

Preparer

Firm
David Howard Lpa Firm
Address
22 N 7TH ST, ESTHERVILLE, IA 51334
Preparer
David W Howard Lpa Ea
Phone
7123623583
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01379
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120647
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22879
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DAVID HOWARD LPA FIRM

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,250,841
Liabilities
$174,905
Net assets
$1,075,936
Revenue
$721,021
Expenses
$675,171
Net income
$45,850
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.23$0.19$1.04$1.00$1.00$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.40$0.36$1.04$0.96$0.99$0.03
2022Detailed filing. Detailed filing data is available for this year.$1.44$0.37$1.07$0.73$0.74$0.01
2021Detailed filing. Detailed filing data is available for this year.$1.25$0.17$1.08$0.72$0.68$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.07$0.04$1.03$0.70$0.68$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.18$0.16$1.01$0.85$0.83$0.02
2018Summary only. Only limited summary data is available for this year.$1.28$0.34$0.94$0.89$0.67$0.23
2017Summary only. Only limited summary data is available for this year.$0.90$0.00$0.90$0.77$0.67$0.10
2016Summary only. Only limited summary data is available for this year.$0.87$0.03$0.84$0.68$0.66$0.01
2015Summary only. Only limited summary data is available for this year.$0.86$0.03$0.83$0.59$0.58$0.02
2014Summary only. Only limited summary data is available for this year.$0.83$0.03$0.80$0.88$0.77$0.12
2013Summary only. Only limited summary data is available for this year.$1.63$0.19$1.44$0.55$0.55$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.19$0.75$0.65
2011Summary only. Only limited summary data is available for this year.$1.02$0.24$0.78$0.30$0.56$0.25