Civic Intelligence

Mitchell County Economic Development Co

990 • Fiscal year 2023 • EIN 42-1515842

Jul 01, 2022 to Jun 30, 2023 • Filed on Aug 29, 2023

Organization ProfileN/A
P O Box 306Osage, IA 50461

(641) 732-4790

Siviq Scores

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

Liabilities / Assets

87th percentile

0.52x

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

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

95th percentile

1.93x

Higher debt load relative to revenue than 95% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

6th percentile

-58%

Higher net margin than 6% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

54th percentile

$0

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

15th percentile

-13%

Faster asset growth than 15% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

8th percentile

-43%

Faster revenue growth than 8% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$579,886

Down $90,220 (-13%) from 2022

Net Assets

Down

$279,886

Down $90,220 (-24%) from 2022

Liabilities

Flat

$300,000

Flat from 2022

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin6th percentile

Revenue

Down

$155,121

Down $114,659 (-43%) from 2022

Expenses

Up

$245,341

Up $85,065 (+53%) from 2022

Net Income

Down

-$90,220

Down $199,724 (-182%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$1.0M$500K$0Assets 2012: $230,327Liabilities 2012: $02012Assets 2013: $294,771Liabilities 2013: $80,0002013Assets 2014: $228,194Liabilities 2014: $02014Assets 2015: $265,617Liabilities 2015: $0Net Assets 2015: $265,6172015Assets 2016: $243,927Liabilities 2016: $02016Assets 2017: $275,437Net Assets 2017: $275,4372017Assets 2018: $264,267Net Assets 2018: $264,2672018Assets 2019: $302,838Net Assets 2019: $302,8382019Assets 2020: $326,283Liabilities 2020: $150,000Net Assets 2020: $176,2832020Assets 2021: $447,420Liabilities 2021: $186,818Net Assets 2021: $260,6022021Assets 2022: $670,106Liabilities 2022: $300,000Net Assets 2022: $370,1062022Assets 2023: $579,886Liabilities 2023: $300,000Net Assets 2023: $279,8862023Assets 2024: $978,445Liabilities 2024: $303,592Net Assets 2024: $674,8532024

Highlighted filing

2023

Assets$579,886
Liabilities$300,000
Net Assets$279,886
Open 2023 Filing

Operations Trend

Revenue Growth8th percentile

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

$1.0M$500K$0-$500KRevenue 2012: $330,621Expenses 2012: $142,789Net Income 2012: $187,8322012Revenue 2013: $147,289Expenses 2013: $162,845Net Income 2013: -$15,5562013Revenue 2014: $162,419Expenses 2014: $148,996Net Income 2014: $13,4232014Revenue 2015: $211,111Expenses 2015: $173,688Net Income 2015: $37,4232015Revenue 2016: $175,978Expenses 2016: $197,668Net Income 2016: -$21,6902016Revenue 2017: $183,299Expenses 2017: $151,789Net Income 2017: $31,5102017Revenue 2018: $165,545Expenses 2018: $176,715Net Income 2018: -$11,1702018Revenue 2019: $157,580Expenses 2019: $119,009Net Income 2019: $38,5712019Revenue 2020: $157,866Expenses 2020: $284,421Net Income 2020: -$126,5552020Revenue 2021: $197,699Expenses 2021: $113,380Net Income 2021: $84,3192021Revenue 2022: $269,780Expenses 2022: $160,276Net Income 2022: $109,5042022Revenue 2023: $155,121Expenses 2023: $245,341Net Income 2023: -$90,2202023Revenue 2024: $819,724Expenses 2024: $675,613Net Income 2024: $144,1112024

Highlighted filing

2023

Revenue$155,121
Expenses$245,341
Net Income-$90,220
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Aug 29, 2023
Return Version
2022v5.0
Gross Receipts
$155,121
Mission and Program Overview

Mission

Promote Economic Development in Mitchell County

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$670,106$579,886▼ $90,220
Rtn Earn Endowment Incm Other Fnds$370,106$279,886▼ $90,220
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
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-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$670,106$579,886▼ $90,220
Other Assets Total-$0-
Liabilities
Other Liabilities$300,000$300,000→ $0
Total Liabilities$300,000$300,000→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$370,106$279,886▼ $90,220
Total Liabilities and Net Assets / Fund Balance$670,106$579,886▼ $90,220
Compensation and Service Providers
Top Officer Pay54th percentile

Board Members and Trustees

NameTitle
Sam HeimerPresident
Todd FreinVice Chairman
Harlan BisbeeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$31,075
Program Service Revenue
$109,020
Investment Income
$9,148
Other Revenue
$5,878
All Other Contributions
$31,075
Change in Net Assets
$-90,220
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$132,394
Other Expenses$112,947
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$90,992--$90,992
Other Employee Benefits$25,851--$25,851
Pension Plan Contributions$8,590--$8,590
Payroll Taxes$6,961--$6,961
All Other Expenses$6,107--$6,107
Travel$2,303--$2,303
Office Expenses$2,256--$2,256
Other Expenses$1,940--$1,940
Insurance$1,627--$1,627
Advertising$46--$46
Total Functional Expenses$245,341$0$0$245,341
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 Building$300,000
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, Part VI, Section B, Line 11B

“No review was or will be conducted.”

Form 990, Part VI, Section C, Line 19

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Mitchell County Economic Development
EIN
42-1515842
Phone
6417324790
Address
P O Box 306, Osage, IA 50461

Signing Officer

Name
Sam Heimer
Title
President
Signed
2023-08-29
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Ia
Voting Board Members
3
Independent Board Members
0
Employees
0

Preparer

Firm
Bisbee Income Tax & Acctng
Address
115 South Broad Street, Stacyville, IA 50476
Preparer
Harlan Bisbee
Phone
6417372428
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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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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0155121
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0269780
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0197699
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0157866
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0157580
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0938046
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0300000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Spec Building
IRS990ScheduleD/TotalLiabilityAmt0300000
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0670106
IRS990/TotalAssetsEOYAmt0579886
IRS990/TotalAssetsGrp/BOYAmt0670106
IRS990/TotalAssetsGrp/EOYAmt0579886
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt031075
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0245341
IRS990/TotalFunctionalExpensesGrp/TotalAmt0245341
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0300000
IRS990/TotalLiabilitiesEOYAmt0300000
IRS990/TotalLiabilitiesGrp/BOYAmt0300000
IRS990/TotalLiabilitiesGrp/EOYAmt0300000
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0279886
IRS990/TotalProgramServiceExpensesAmt0245341
IRS990/TotalProgramServiceRevenueAmt0109020
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0124046
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0155121
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0670106
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0579886
IRS990/TravelGrp/ProgramServicesAmt02303
IRS990/TravelGrp/TotalAmt02303
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt0P O Box 306
IRS990/USAddress/CityNm0Osage
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IRS990/USAddress/ZIPCd050461
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Sam Heimer
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-08-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Mitchell County Economic Development
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Commission
ReturnHeader/Filer/BusinessNameControlTxt0MITC
ReturnHeader/Filer/EIN0421515842
ReturnHeader/Filer/PhoneNum06417324790
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O Box 306
ReturnHeader/Filer/USAddress/CityNm0Osage
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421378767
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Bisbee Income Tax & Acctng
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0115 South Broad Street
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Stacyville
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050476
ReturnHeader/PreparerPersonGrp/PhoneNum06417372428
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HARLAN BISBEE
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02023-08-29T08:18:10-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Sam
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Heimer
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$579,886
Liabilities
$300,000
Net assets
$279,886
Revenue
$155,121
Expenses
$245,341
Net income
-$90,220
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.78$3.04$6.75$8.20$6.76$1.44
2023Detailed filing. Detailed filing data is available for this year.$5.80$3.00$2.80$1.55$2.45$0.90
2022Detailed filing. Detailed filing data is available for this year.$6.70$3.00$3.70$2.70$1.60$1.10
2021Detailed filing. Detailed filing data is available for this year.$4.47$1.87$2.61$1.98$1.13$0.84
2020Detailed filing. Detailed filing data is available for this year.$3.26$1.50$1.76$1.58$2.84$1.27
2019Detailed filing. Detailed filing data is available for this year.$3.03$3.03$1.58$1.19$0.39
2018Detailed filing. Detailed filing data is available for this year.$2.64$2.64$1.66$1.77$0.11
2017Detailed filing. Detailed filing data is available for this year.$2.75$2.75$1.83$1.52$0.32
2016Summary only. Only limited summary data is available for this year.$2.44$0.00$1.76$1.98$0.22
2015Summary only. Only limited summary data is available for this year.$2.66$0.00$2.66$2.11$1.74$0.37
2014Summary only. Only limited summary data is available for this year.$2.28$0.00$1.62$1.49$0.13
2013Summary only. Only limited summary data is available for this year.$2.95$0.80$1.47$1.63$0.16
2012Summary only. Only limited summary data is available for this year.$2.30$0.00$3.31$1.43$1.88