Civic Intelligence

Alton Economic Development Corporation

990 • Fiscal year 2021 • EIN 42-1523453

Jan 01, 2021 to Dec 31, 2021 • Filed on May 23, 2022

Organization ProfileWWW.ALTONIOWA.ORG/ECON
905 3rd AveAlton, IA 51003

(712) 756-4314

Siviq Scores

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

Liabilities / Assets

82nd percentile

0.45x

Higher debt load relative to assets than 82% of similar nonprofits.

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

Liabilities / Revenue

91st percentile

1.69x

Higher debt load relative to revenue than 91% of similar nonprofits.

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

Net Margin

69th percentile

25%

Higher net margin than 69% 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

94th percentile

105%

Faster asset growth than 94% of similar nonprofits.

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

Revenue Growth

97th percentile

434%

Faster revenue growth than 97% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets82nd percentile

Assets

Up

$1,162,594

Up $595,481 (+105%) from 2020

Net Assets

Up

$644,819

Up $77,706 (+14%) from 2020

Liabilities

Up

$517,775

Up $517,775 from 2020

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin69th percentile

Revenue

Up

$305,897

Up $248,665 (+434%) from 2020

Expenses

Up

$228,191

Up $210,382 (+1181%) from 2020

Net Income

Up

$77,706

Up $38,283 (+97%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth94th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $427,306Liabilities 2010: $14,152Net Assets 2010: $413,1542010Assets 2011: $481,484Liabilities 2011: $70,6262011Assets 2012: $447,493Liabilities 2012: $40,184Net Assets 2012: $407,3092012Assets 2013: $429,014Liabilities 2013: $10,000Net Assets 2013: $419,0142013Assets 2014: $435,308Net Assets 2014: $435,3082014Assets 2015: $713,052Liabilities 2015: $0Net Assets 2015: $713,0522015Assets 2016: $466,815Liabilities 2016: $3,250Net Assets 2016: $463,5652016Assets 2017: $483,951Net Assets 2017: $483,9512017Assets 2018: $500,255Liabilities 2018: $0Net Assets 2018: $500,2552018Assets 2020: $567,113Liabilities 2020: $0Net Assets 2020: $567,1132020Assets 2021: $1,162,594Liabilities 2021: $517,775Net Assets 2021: $644,8192021Assets 2022: $1,182,982Liabilities 2022: $517,775Net Assets 2022: $665,2072022Assets 2023: $1,148,411Liabilities 2023: $468,460Net Assets 2023: $679,9512023Assets 2024: $1,923,918Liabilities 2024: $1,687,502Net Assets 2024: $236,4162024

Highlighted filing

2021

Assets$1,162,594
Liabilities$517,775
Net Assets$644,819
Open 2021 Filing

Operations Trend

Revenue Growth97th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $45,7612010Revenue 2011: $142,000Expenses 2011: $144,296Net Income 2011: -$2,2962011Revenue 2012: $29,860Expenses 2012: $33,410Net Income 2012: -$3,5502012Revenue 2013: $71,539Expenses 2013: $59,833Net Income 2013: $11,7062013Revenue 2014: $50,897Expenses 2014: $34,603Net Income 2014: $16,2942014Revenue 2015: $280,336Expenses 2015: $2,592Net Income 2015: $277,7442015Revenue 2016: $83,142Expenses 2016: $332,629Net Income 2016: -$249,4872016Revenue 2017: $22,787Expenses 2017: $2,401Net Income 2017: $20,3862017Revenue 2018: $63,974Expenses 2018: $47,670Net Income 2018: $16,3042018Revenue 2020: $57,232Expenses 2020: $17,809Net Income 2020: $39,4232020Revenue 2021: $305,897Expenses 2021: $228,191Net Income 2021: $77,7062021Revenue 2022: $117,638Expenses 2022: $97,250Net Income 2022: $20,3882022Revenue 2023: $199,112Expenses 2023: $184,368Net Income 2023: $14,7442023Revenue 2024: $144,570Expenses 2024: $588,105Net Income 2024: -$443,5352024

Highlighted filing

2021

Revenue$305,897
Expenses$228,191
Net Income$77,706
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 23, 2022
Return Version
2021v4.0
Gross Receipts
$305,897
Mission and Program Overview

Mission

To provide the city of alton, iowa with economic development possibilities ranging from residential, industrial and commercial development. The organization will make available places of residence and work attracting people to the city of alton. The organization also provides economic consulting on a monthly basis to the city of alton.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$261,242$915,089▲ $653,847
Cash and Non-Interest-Bearing Accounts$43,798$214,852▲ $171,054
Savings and Temporary Cash Investments$262,073$32,653▼ $229,420
Total Assets$567,113$1,162,594▲ $595,481
Liabilities
Other Liabilities-$517,775-
Total Liabilities$0$517,775▲ $517,775
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$567,113$644,819▲ $77,706
Total Net Assets Fund Balance$567,113$644,819▲ $77,706
Total Liabilities and Net Assets / Fund Balance$567,113$1,162,594▲ $595,481

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$1,185--
Compensation and Service Providers
Top Officer Pay39th percentile

Board Members and Trustees

NameTitle
Dan Vande GriendPresident
Harlan JorgensenDirector
Dale OltmansExecutive Di
Revenue and Support

Revenue Composition

Contributions and Grants
$35,786
Program Service Revenue
$269,532
Investment Income
$579
Other Revenue
$0
All Other Contributions
$35,786
Change in Net Assets
$77,706
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$228,191
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$209,339--$209,339
Fees for Services Other$7,965--$7,965
Advertising$4,415--$4,415
Fees for Services Legal$3,920--$3,920
Interest$920--$920
Insurance$658--$658
Fees for Services Accounting$614--$614
Conferences and Meetings$328--$328
Office Expenses$32--$32
Total Functional Expenses$228,191$0$0$228,191
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
American State Bank$517,775
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Alton Economic Development
EIN
42-1523453
Address
905 3RD AVE, ALTON, IA 51003

Signing Officer

Name
Dan Vande Griend
Title
President
Signed
2022-05-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dan Vande Griend
Formed
2010
Legal Domicile
Ia
Voting Board Members
5
Independent Board Members
5
Employees
0

Preparer

Firm
Bengard & Associates Inc
Address
119 ALBANY AVE NE, ORANGE CITY, IA 51041-0377
Preparer
Blake M Bengard Ea
Phone
7127374963
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To provide the city of alton, iowa with economic development possibilities ranging from residential, industrial and commercial development. The organization will make available places of residence and work attracting people to the city of alton. The organization also provides economic consulting on a monthly basis to the city of alton.”

Form 990, Page 2, Part III, Line 4D

“To provide the city of alton, iowa with economic development possibilities ranging from residential, industrial and commercial development.”

Raw XML Appendix282 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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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BENGARD & ASSOCIATES INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0119 ALBANY AVE NE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ORANGE CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0510410377
ReturnHeader/PreparerPersonGrp/PhoneNum07127374963
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BLAKE M BENGARD EA
ReturnHeader/ReturnTs02022-08-24T14:01:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0VANDE GRIEND
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,162,594
Liabilities
$517,775
Net assets
$644,819
Revenue
$305,897
Expenses
$228,191
Net income
$77,706
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.92$1.69$0.24$0.14$0.59$0.44
2023Detailed filing. Detailed filing data is available for this year.$1.15$0.47$0.68$0.20$0.18$0.01
2022Detailed filing. Detailed filing data is available for this year.$1.18$0.52$0.67$0.12$0.10$0.02
2021Detailed filing. Detailed filing data is available for this year.$1.16$0.52$0.64$0.31$0.23$0.08
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.57$0.00$0.57$0.06$0.02$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.50$0.00$0.50$0.06$0.05$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.48$0.48$0.02$0.00$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.47$0.00$0.46$0.08$0.33$0.25
2015Detailed filing. Detailed filing data is available for this year.$0.71$0.00$0.71$0.28$0.00$0.28
2014Detailed filing. Detailed filing data is available for this year.$0.44$0.44$0.05$0.03$0.02
2013Detailed filing. Detailed filing data is available for this year.$0.43$0.01$0.42$0.07$0.06$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.45$0.04$0.41$0.03$0.03$0.00
2011Summary only. Only limited summary data is available for this year.$0.48$0.07$0.14$0.14$0.00
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.01$0.41$0.05