Civic Intelligence

Waterloo Development Corporation

EIN 42-1505470 • 501(c)3 • Waterloo, IA

Profile

ECONOMIC DEVELOPMENT

360 Westfield Ave Ste 300Waterloo, IA 50701-1325

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

30th percentile

0.01x

Higher debt load relative to revenue than 30% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

96th percentile

80%

Higher net margin than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

96th percentile

113%

Faster asset growth than 96% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

95th percentile

145%

Faster revenue growth than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$2,600,937

Up $1,378,017 (+113%) from 2023

Liabilities

Up

$22,181

Up $22,181 from 2023

Net Assets

Up

$2,578,756

Up $1,355,836 (+111%) from 2023

Operations
Liabilities / Revenue30th percentileNet Margin96th percentile

Revenue

Up

$1,702,926

Up $1,008,942 (+145%) from 2023

Expenses

Up

$347,090

Up $180,324 (+108%) from 2023

Net Income

Up

$1,355,836

Up $828,618 (+157%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth96th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0-$10MAssets 2010: $1,427,570Liabilities 2010: $8,551Net Assets 2010: $1,419,0192010Assets 2011: $3,279,232Liabilities 2011: $3,254Net Assets 2011: $3,275,9782011Assets 2012: $8,372,461Liabilities 2012: $602,225Net Assets 2012: $7,770,2362012Assets 2013: $21,015,582Liabilities 2013: $9,502,544Net Assets 2013: $11,513,0382013Assets 2014: $395,097Liabilities 2014: $7,650,000Net Assets 2014: -$7,254,9032014Assets 2015: $96,553Liabilities 2015: $4,732,364Net Assets 2015: -$4,635,8112015Assets 2016: $1,048,567Liabilities 2016: $3,676,206Net Assets 2016: -$2,627,6392016Assets 2017: $639,029Liabilities 2017: $1,582,556Net Assets 2017: -$943,5272017Assets 2018: $311,129Liabilities 2018: $0Net Assets 2018: $311,1292018Assets 2019: $306,390Liabilities 2019: $0Net Assets 2019: $306,3902019Assets 2020: $304,893Liabilities 2020: $0Net Assets 2020: $304,8932020Assets 2021: $301,044Liabilities 2021: $0Net Assets 2021: $301,0442021Assets 2022: $695,702Liabilities 2022: $0Net Assets 2022: $695,7022022Assets 2023: $1,222,920Liabilities 2023: $0Net Assets 2023: $1,222,9202023Assets 2024: $2,600,937Liabilities 2024: $22,181Net Assets 2024: $2,578,7562024

Highlighted filing

2024

Assets$2,600,937
Liabilities$22,181
Net Assets$2,578,756
Open 2024 Filing

Operations Trend

Revenue Growth95th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$40M$20M$0-$20MExpenses 2010: $72,3942010Expenses 2011: $85,6852011Expenses 2012: $62,1962012Revenue 2013: $3,838,897Expenses 2013: $96,095Net Income 2013: $3,742,8022013Revenue 2014: $4,720,706Expenses 2014: $23,488,647Net Income 2014: -$18,767,9412014Revenue 2015: $2,952,441Expenses 2015: $333,349Net Income 2015: $2,619,0922015Revenue 2016: $2,203,400Expenses 2016: $195,227Net Income 2016: $2,008,1732016Revenue 2017: $1,802,604Expenses 2017: $118,492Net Income 2017: $1,684,1122017Revenue 2018: $1,330,036Expenses 2018: $75,380Net Income 2018: $1,254,6562018Revenue 2019: $76,895Expenses 2019: $81,634Net Income 2019: -$4,7392019Revenue 2020: $105,846Expenses 2020: $107,343Net Income 2020: -$1,4972020Revenue 2021: $123,629Expenses 2021: $127,478Net Income 2021: -$3,8492021Revenue 2022: $876,951Expenses 2022: $482,293Net Income 2022: $394,6582022Revenue 2023: $693,984Expenses 2023: $166,766Net Income 2023: $527,2182023Revenue 2024: $1,702,926Expenses 2024: $347,090Net Income 2024: $1,355,8362024

Highlighted filing

2024

Revenue$1,702,926
Expenses$347,090
Net Income$1,355,836
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,600,937
Liabilities
$22,181
Net assets
$2,578,756
Revenue
$1,702,926
Expenses
$347,090
Net income
$1,355,836
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.60$0.02$2.58$1.70$0.35$1.36
2023Detailed filing. Detailed filing data is available for this year.$1.22$0.00$1.22$0.69$0.17$0.53
2022Detailed filing. Detailed filing data is available for this year.$0.70$0.00$0.70$0.88$0.48$0.39
2021Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$0.12$0.13$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$0.11$0.11$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.31$0.00$0.31$0.08$0.08$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.31$0.00$0.31$1.33$0.08$1.25
2017Detailed filing. Detailed filing data is available for this year.$0.64$1.58$0.94$1.80$0.12$1.68
2016Detailed filing. Detailed filing data is available for this year.$1.05$3.68$2.63$2.20$0.20$2.01
2015Detailed filing. Detailed filing data is available for this year.$0.10$4.73$4.64$2.95$0.33$2.62
2014Detailed filing. Detailed filing data is available for this year.$0.40$7.65$7.25$4.72$23.5$18.8
2013Detailed filing. Detailed filing data is available for this year.$21.0$9.50$11.5$3.84$0.10$3.74
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.37$0.60$7.77$0.06
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.28$0.00$3.28$0.09
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.43$0.01$1.42$0.07
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 26, 2025
Return Version
2024v5.2
Gross Receipts
$1,712,942
Mission and Program Overview

Mission

ECONOMIC DEVELOPMENT

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$786,198$1,185,403▲ $399,205
Savings and Temporary Cash Investments$291,329$279,139▼ $12,190
Cash and Non-Interest-Bearing Accounts$44,261$38,665▼ $5,596
Total Assets$1,222,920$2,600,937▲ $1,378,017
Other Assets Total$101,132$1,097,730▲ $996,598
Liabilities
Accounts Payable and Accrued Expenses-$22,181-
Total Liabilities$0$22,181▲ $22,181
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,210,505$2,545,956▲ $1,335,451
Net Assets With Donor Restrictions$12,415$32,800▲ $20,385
Total Net Assets Fund Balance$1,222,920$2,578,756▲ $1,355,836
Total Liabilities and Net Assets / Fund Balance$1,222,920$2,600,937▲ $1,378,017

Asset Categories

AssetBook ValueDepreciationBasis
Land$804,678-$804,678
Buildings$380,725$795$381,520
Equipment$0$125,000$125,000
Other Assets Org$1,097,730--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Daniel WattersPresident
Robert PetersenVice President
James MillerDirector
Kristin SchaeferDirector
Robert GreenwoodDirector
Tim HurleyDirector
Troy SmithDirector
Rebecca GuinnDirector (thru 10/24)
Eric JohnsonSecretary
Fabio CastroTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sports Facilities CompaniesFacility Planning And Management17755 US HWY 19 N SUITE 300, Clearwater, FL 33764$180,000
Revenue and Support

Revenue Composition

Contributions and Grants
$1,672,578
Program Service Revenue
$0
Investment Income
$30,348
Other Revenue
$0
All Other Contributions
$1,672,578
Change in Net Assets
$1,355,836
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$327,310
Grants and Similar Amounts Paid$19,780
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$195,000--$195,000
Fees for Services Other$85,142--$85,142
Grants to Domestic Orgs$19,780--$19,780
Insurance-$3,427-$3,427
Fees for Services Legal-$2,798-$2,798
Fees for Services Accounting-$2,475-$2,475
Depreciation Depletion-$795-$795
Travel-$218-$218
Other Expenses-$51-$51
Total Functional Expenses$299,922$47,168$0$347,090
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
City of WaterlooWaterloo, IAGOV'TTo Pay for Sportsplex Canopy Repainting$19,780
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
Yes
Audit committee
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, Part VI, Section B, Line 11B

“Transactions for the year are reviewed with the organization's cpa firm. Additionally, an email is sent out to all board members prior to filing for their review of the tax return.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents and financial statements are not posted in a public space, but are available for review upon request.”

Filing and Contact Details

Filer

Filer Name
Waterloo Development Corporation
EIN
42-1505470
Phone
3194860688
Address
360 WESTFIELD AVE STE 300, WATERLOO, IA 50701-1325

Signing Officer

Name
Robert Petersen
Title
Vice President
Phone
3192353207
Signed
2025-09-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert W Petersen
Formed
2000
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Rsm US Llp
Address
919 EAST MAIN STREET SUITE 1800, RICHMOND, VA 23219
Preparer
Meredith Bell
Phone
8042822121
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultants fees: program service expenses 85,142. Management and general expenses 0. Fundraising expenses 0. Total expenses 85,142.”

FORM 990, PART XII, LINE 1:

“The taxpayer uses the modified cash method of accounting”

Financial Statement Notes

PART X, LINE 2:

“The internal revenue service has recognized the corporation as exempt from federal income taxes under the provisions of section 501(c)(3) of the internal revenue code. The corporation would be subject to federal and state income taxes on any unrelated business income. The corporation accounts for uncertainty in income taxes in accordance with accounting standards codification 740, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return, should be recorded in the financial statements. Under this guidance, the corporation may recognize the tax benefits from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on technical merits of the position. The tax benefits recognized in the financial statements from such a position are being measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses derecognition, classification, interest and penalties on income taxes, and accounting in interim periods. The corporation believes it does not have any uncertain tax positions. The corporation has not been notified of any impending examination by tax authorities and no examinations are in process.”

Raw XML AppendixShowing 400 of 448 raw XML fields

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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IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0JAMES MILLER
IRS990/BooksInCareOfDetail/PhoneNum03192427446
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IRS990/Desc0PROMOTE CIVIC, INDUSTRIAL, MERCANTILE, TRAFFIC AND TRANSPORTATION, AGRICULTURAL AND OTHER INTEREST OF WATERLOO, CEDAR FALLS AND NORTHEAST IOWA AREAS.DURING THE 2014 TAX YEAR, THE ORGANIZATION COMPLETED CONSTRUCTION OF THE CEDAR VALLEY SPORTSPLEX FACILITY, PRIMARILY FUNDED THROUGH PRIVATE FUNDING. THE SPORTSPLEX IS A MULTI-PURPOSE SPORTS FACILITY THAT INCLUDES INDOOR AND OUTDOOR PLAY AREAS, A GYMNASIUM, A FIELD HOUSE WITH BATTING CAGES AND GOLF HITTING AREA, A LEISURE POOL, LOCKER ROOMS AND SEVERAL MULTI PURPOSE ROOMS FOR CONFERENCES OR EXERCISE CLASSES. THE FACILITY IS OPERATED BY THE CITY OF WATERLOO LEISURE SERVICES DEPARTMENT. THE ORGANIZATION HAS ENTERED INTO AN AGREEMENT WITH THE CITY OF WATERLOO, IA TO LEASE THE FACILITY AT A DISCOUNTED RATE WITH AN OPTION TO PURCHASE THE FACILTY FOR $1 UPON THE EXPIRATION OF THE LEASE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR (THRU 10/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
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IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingOtherInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0ECONOMIC DEVELOPMENT
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01222920
IRS990/NetAssetsOrFundBalancesEOYAmt02578756
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt024759
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt024759
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt01210505
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt02545956
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0101132
IRS990/OtherAssetsTotalGrp/EOYAmt01097730
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0PROPERTY TAXES
IRS990/OtherExpensesGrp/Desc1REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2BANK FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt019951
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt117453
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt251
IRS990/OtherExpensesGrp/TotalAmt019951
IRS990/OtherExpensesGrp/TotalAmt117453
IRS990/OtherExpensesGrp/TotalAmt251
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0ROBERT W PETERSEN
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0688160
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt07000
IRS990/PYInvestmentIncomeAmt05824
IRS990/PYOtherExpensesAmt0159766
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0527218
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0166766
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0693984
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01355836
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd01
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0291329
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0279139
IRS990ScheduleA/FactsAndCircumstancesTestTxt0THE ORGANIZATION MEETS THE 10% FACTS AND CIRCUMSTANCES TEST PER REGULATIONS SECTION1.170A-9(F)(3). THEY MEET THE REQUIREMENTS OF THIS REGULATION BY REGULARLY SOLICITING SUPPORT FOR THEIR ORGANIZATION THROUGH THE USE OF CONTRIBUTIONS FROM LOCAL AREA BUSINESSES WITHIN THE WATERLOO AREA. ADDITIONALLY, THE ORGANIZATION REGULARLY REPRESENTS THE INTEREST OF THE BROAD PUBLIC BY PROMOTING CIVIC, INDUSTRIAL, MERCANTILE, TRAFFIC AND TRANSPORTATION, AGRICULTURAL AND OTHER INTERESTS OF THE WATERLOO, CEDAR FALLS AND NORTHEAST IOWA AREAS.
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01672578
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0688160
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0876722
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0123600
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0105676
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03466736
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt05589
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt05824
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0229
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt029
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0170
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt011841
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.08960
IRS990ScheduleA/PublicSupportPY170Pct00.12460
IRS990ScheduleA/PublicSupportTotal170Amt0311681
IRS990ScheduleA/SubstantialContributorsTotAmt03155055
IRS990ScheduleA/TenPctFactsCrcmstncsTestPYInd0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01672578
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0688160
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0876722
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0123600
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0105676
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03466736
IRS990ScheduleA/TotalSupportAmt03478577
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt0380725
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0795
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0381520
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0125000
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0125000
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0804678
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0804678
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01097730
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROGRESS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE INTERNAL REVENUE SERVICE HAS RECOGNIZED THE CORPORATION AS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE CORPORATION WOULD BE SUBJECT TO FEDERAL AND STATE INCOME TAXES ON ANY UNRELATED BUSINESS INCOME. THE CORPORATION ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION 740, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN, SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE CORPORATION MAY RECOGNIZE THE TAX BENEFITS FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE BEING MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. THE CORPORATION BELIEVES IT DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. THE CORPORATION HAS NOT BEEN NOTIFIED OF ANY IMPENDING EXAMINATION BY TAX AUTHORITIES AND NO EXAMINATIONS ARE IN PROCESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01185403
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01097730
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/CashGrantAmt019780
IRS990ScheduleI/RecipientTable/IRCSectionDesc0GOV'T
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO PAY FOR SPORTSPLEX CANOPY REPAINTING
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CITY OF WATERLOO
IRS990ScheduleI/RecipientTable/RecipientEIN0426005327
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0715 MULBERY ST
IRS990ScheduleI/RecipientTable/USAddress/CityNm0WATERLOO
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd050703
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0WATERLOO DEVELOPMENT CORPORATION WORKS WITH THE CITY TO MAKE SURE THE PROJECT/WORK IS COMPLETED PRIOR TO ISSUING PAYMENT OF GRANT FUNDS. ADDITIONALLY, CITY LEADERS ARE PRESENT AT WATERLOO DEVELOPMENT CORPORATION BOARD MEETINGS TO ANSWER QUESTIONS AND PROVIDE UPDATES ON PROJECTS WHERE THE ORGANIZATION IS PROVIDING FINANCIAL SUPPORT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TRANSACTIONS FOR THE YEAR ARE REVIEWED WITH THE ORGANIZATION'S CPA FIRM. ADDITIONALLY, AN EMAIL IS SENT OUT TO ALL BOARD MEMBERS PRIOR TO FILING FOR THEIR REVIEW OF THE TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE NOT POSTED IN A PUBLIC SPACE, BUT ARE AVAILABLE FOR REVIEW UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONSULTANTS FEES: PROGRAM SERVICE EXPENSES 85,142. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 85,142.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TAXPAYER USES THE MODIFIED CASH METHOD OF ACCOUNTING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XII, LINE 1:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd01
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt0WATERLOO DEVELOPMENT CORPORATION
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0562445996
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0IA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/OwnershipPct01.00000
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0ECONOMIC DEVELOPMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0WDC PROPERTIES I INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt010 W 4TH STREET SUITE 310
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0WATERLOO
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0IA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd050701
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01222920
IRS990/TotalAssetsEOYAmt02600937
IRS990/TotalAssetsGrp/BOYAmt01222920
IRS990/TotalAssetsGrp/EOYAmt02600937
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01672578
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt047168
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0299922
IRS990/TotalFunctionalExpensesGrp/TotalAmt0347090
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt022181
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt022181
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01222920
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02578756
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0299922
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt030348
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01702926
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00

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