Civic Intelligence

Graettinger Economic Development Council

990 • Fiscal year 2023 • EIN 42-1490489

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 19, 2024

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

72nd percentile

0.26x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

76th percentile

0.37x

Higher debt load relative to revenue than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

32nd percentile

-3.4%

Higher net margin than 32% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

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.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

27th percentile

-2.8%

Faster asset growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

75th percentile

31%

Faster revenue growth than 75% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$1,395,761

Down $39,563 (-2.8%) from 2022

Net Assets

Down

$1,037,717

Down $32,412 (-3.0%) from 2022

Liabilities

Down

$358,044

Down $7,151 (-2.0%) from 2022

Revenue And Expenses
Liabilities / Revenue76th percentileNet Margin32nd percentile

Revenue

Up

$957,419

Up $226,324 (+31%) from 2022

Expenses

Up

$989,831

Up $252,566 (+34%) from 2022

Net Income

Down

-$32,412

Down $26,242 (-425%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth27th 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

2023

Assets$1,395,761
Liabilities$358,044
Net Assets$1,037,717
Open 2023 Filing

Operations Trend

Revenue Growth75th 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

2023

Revenue$957,419
Expenses$989,831
Net Income-$32,412
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 19, 2024
Return Version
2023v5.1
Gross Receipts
$972,385
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$438,046$466,278▲ $28,232
Savings and Temporary Cash Investments$289,553$313,277▲ $23,724
Cash and Non-Interest-Bearing Accounts$390,838$262,531▼ $128,307
Other Notes and Loans Receivable, Net$109,406$0▼ $109,406
Inventories for Sale or Use$55,000$55,000→ $0
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$1,435,324$1,395,761▼ $39,563
Other Assets Total$152,481$298,675▲ $146,194
Liabilities
Other Liabilities$365,195$358,044▼ $7,151
Total Liabilities$365,195$358,044▼ $7,151
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,070,129$1,037,717▼ $32,412
Total Net Assets Fund Balance$1,070,129$1,037,717▼ $32,412
Total Liabilities and Net Assets / Fund Balance$1,435,324$1,395,761▼ $39,563

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$391,118$183,662$574,780
Land$90,810-$90,810
Other Assets Org$258,675--
Other Land Buildings$-15,650$-6,860$-22,510
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$38,228
Program Service Revenue
$891,043
Investment Income
$8,292
Other Revenue
$19,856
Change in Net Assets
$-32,412
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$699,525
Salaries, Compensation, and Employee Benefits$290,306
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$261,276--$261,276
Payroll Taxes$20,630--$20,630
Depreciation Depletion$18,292--$18,292
Insurance$13,428--$13,428
All Other Expenses$10,455--$10,455
Occupancy$9,378--$9,378
Other Employee Benefits$8,400--$8,400
Other Expenses$6,760--$6,760
Fees for Services Other$5,632--$5,632
Office Expenses$5,517--$5,517
Fees for Services Accounting$5,320--$5,320
Advertising$2,026--$2,026
Interest$756--$756
Fees for Services Legal$275--$275
Total Functional Expenses$989,831$0$0$989,831
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
Daycare Startup Loan$200,000
Spec Home - Seed Funds$149,970
Payroll Taxes Payable$8,073
Rounding$1
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, Section B, Line 11B

“REVIEWED BY BOARD”

Form 990, Part VI, Section B, Line 12C

“Continue to monitor to insure no conflicts occur”

Form 990, Part VI, Section C, Line 19

“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
2024-06-19
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Ia
Voting Board Members
5
Independent Board Members
5
Employees
23

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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IRS990/PYTotalExpensesAmt0737265
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IRS990/RentalIncomeOrLossGrp/RealAmt019856
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
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IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt0289553
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt013538
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt016371
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt025090
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IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
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IRS990ScheduleA/SubstantialContributorsTotAmt00
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt038228
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt014074
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt016371
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0183662
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0574780
IRS990ScheduleD/LandGrp/BookValueAmt090810
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt090810
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt040000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1258675
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0QUASI FUND
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SPEC HOMES & LOTS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0-15650
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0-6860
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0-22510
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0200000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt18073
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt21
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt3149970
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DAYCARE STARTUP LOAN
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAXES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SPEC HOME - SEED FUNDS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0466278
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0298675
IRS990ScheduleD/TotalLiabilityAmt0358044
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED BY BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CONTINUE TO MONITOR TO INSURE NO CONFLICTS OCCUR
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AVAILABLE FOR REVIEW UPON REQUEST
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IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalProgramServiceExpensesAmt0989831
IRS990/TotalProgramServiceRevenueAmt0891043
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0957419
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01435324
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01395761
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 332
IRS990/USAddress/CityNm0GRAETTINGER
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051342
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LLOYD PETERSEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Vice President
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-06-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRAETTINGER ECONOMIC DEVELOPMENT

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,395,761
Liabilities
$358,044
Net assets
$1,037,717
Revenue
$957,419
Expenses
$989,831
Net income
-$32,412
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