Civic Intelligence

Alton Economic Development Corporation

990 • Fiscal year 2023 • EIN 42-1523453

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 20, 2024

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

80th percentile

0.41x

Higher debt load relative to assets than 80% of similar nonprofits.

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

Liabilities / Revenue

93rd percentile

2.35x

Higher debt load relative to revenue than 93% of similar nonprofits.

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

Net Margin

57th percentile

7.4%

Higher net margin than 57% 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

26th percentile

-2.9%

Faster asset growth than 26% of similar nonprofits.

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

Revenue Growth

88th percentile

69%

Faster revenue growth than 88% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$1,148,411

Down $34,571 (-2.9%) from 2022

Net Assets

Up

$679,951

Up $14,744 (+2.2%) from 2022

Liabilities

Down

$468,460

Down $49,315 (-9.5%) from 2022

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin57th percentile

Revenue

Up

$199,112

Up $81,474 (+69%) from 2022

Expenses

Up

$184,368

Up $87,118 (+90%) from 2022

Net Income

Down

$14,744

Down $5,644 (-28%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2023

Assets$1,148,411
Liabilities$468,460
Net Assets$679,951
Open 2023 Filing

Operations Trend

Revenue Growth88th 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

2023

Revenue$199,112
Expenses$184,368
Net Income$14,744
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 20, 2024
Return Version
2023v5.0
Gross Receipts
$199,112
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$1,071,938$968,792▼ $103,146
Cash and Non-Interest-Bearing Accounts$78,163$146,138▲ $67,975
Savings and Temporary Cash Investments$32,881$33,481▲ $600
Total Assets$1,182,982$1,148,411▼ $34,571
Liabilities
Other Liabilities$517,775$468,460▼ $49,315
Total Liabilities$517,775$468,460▼ $49,315
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$665,207$679,951▲ $14,744
Total Net Assets Fund Balance$665,207$679,951▲ $14,744
Total Liabilities and Net Assets / Fund Balance$1,182,982$1,148,411▼ $34,571

Asset Categories

AssetBook ValueDepreciationBasis
Investment Program Related Org$66,766--
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
$29,581
Program Service Revenue
$168,930
Investment Income
$601
Other Revenue
$0
All Other Contributions
$29,581
Change in Net Assets
$14,744
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$184,368
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
Interest$21,276--$21,276
Other Expenses$10,790--$10,790
Fees for Services Other$2,206--$2,206
Fees for Services Legal$850--$850
Insurance$731--$731
Fees for Services Accounting$615--$615
Conferences and Meetings$291--$291
Total Functional Expenses$184,368$0$0$184,368
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$468,460
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
2024-06-20
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.”

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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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ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051003
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0262687174
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/PreparationDt02024-06-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BLAKE M BENGARD EA
ReturnHeader/ReturnTs02024-07-09T16:19:33-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DAN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0VANDE GRIEND
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,148,411
Liabilities
$468,460
Net assets
$679,951
Revenue
$199,112
Expenses
$184,368
Net income
$14,744
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