Civic Intelligence

Forest City Economic Development Inc

990 • Fiscal year 2016 • EIN 42-1525819

Jul 01, 2015 to Jun 30, 2016 • Filed on Aug 03, 2016

Organization ProfileWWW.FORESTCITYIA.COM/INDEX.PHP
145 S Clark PO Box 306Forest City, IA 50436

(641) 585-5560

Siviq Scores

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

Liabilities / Assets

68th percentile

0.33x

Higher debt load relative to assets than 68% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

96th percentile

1.34x

Higher debt load relative to revenue than 96% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Net Margin

83rd percentile

15%

Higher net margin than 83% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

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

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Asset Growth

9th percentile

-14%

Faster asset growth than 9% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

43rd percentile

1.1%

Faster revenue growth than 43% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets68th percentile

Assets

Down

$1,121,204

Down $189,158 (-14%) from 2015

Net Assets

Up

$753,597

Up $42,269 (+5.9%) from 2015

Liabilities

Down

$367,607

Down $231,427 (-39%) from 2015

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin83rd percentile

Revenue

Up

$274,779

Up $3,058 (+1.1%) from 2015

Expenses

Up

$232,510

Up $1,840 (+0.8%) from 2015

Net Income

Up

$42,269

Up $1,218 (+3.0%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $2,226,871Liabilities 2011: $1,592,052Net Assets 2011: $634,8192011Assets 2012: $2,064,106Liabilities 2012: $1,379,792Net Assets 2012: $684,3142012Assets 2013: $1,846,698Liabilities 2013: $1,178,979Net Assets 2013: $667,7192013Assets 2014: $1,465,916Liabilities 2014: $795,639Net Assets 2014: $670,2772014Assets 2015: $1,310,362Liabilities 2015: $599,034Net Assets 2015: $711,3282015Assets 2016: $1,121,204Liabilities 2016: $367,607Net Assets 2016: $753,5972016Assets 2017: $892,925Liabilities 2017: $34,111Net Assets 2017: $858,8142017Assets 2018: $879,380Liabilities 2018: $10,259Net Assets 2018: $869,1212018Assets 2019: $877,884Liabilities 2019: $7,059Net Assets 2019: $870,8252019Assets 2020: $1,018,296Liabilities 2020: $4,642Net Assets 2020: $1,013,6542020Assets 2021: $1,008,211Liabilities 2021: $3,996Net Assets 2021: $1,004,2152021Assets 2022: $1,048,830Liabilities 2022: $12,413Net Assets 2022: $1,036,4172022Assets 2023: $1,049,491Liabilities 2023: $8,435Net Assets 2023: $1,041,0562023Assets 2024: $1,051,800Liabilities 2024: $14,181Net Assets 2024: $1,037,6192024Assets 2025: $1,025,699Liabilities 2025: $14,493Net Assets 2025: $1,011,2062025

Highlighted filing

2016

Assets$1,121,204
Liabilities$367,607
Net Assets$753,597
Open 2016 Filing

Operations Trend

Revenue Growth43rd percentile

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

$600K$400K$200K$0-$200KExpenses 2011: $357,5632011Expenses 2012: $306,3742012Expenses 2013: $280,1292013Revenue 2014: $283,716Expenses 2014: $281,158Net Income 2014: $2,5582014Revenue 2015: $271,721Expenses 2015: $230,670Net Income 2015: $41,0512015Revenue 2016: $274,779Expenses 2016: $232,510Net Income 2016: $42,2692016Revenue 2017: $370,365Expenses 2017: $260,148Net Income 2017: $110,2172017Revenue 2018: $210,294Expenses 2018: $199,987Net Income 2018: $10,3072018Revenue 2019: $206,280Expenses 2019: $205,247Net Income 2019: $1,0332019Revenue 2020: $429,082Expenses 2020: $286,330Net Income 2020: $142,7522020Revenue 2021: $214,896Expenses 2021: $224,335Net Income 2021: -$9,4392021Revenue 2022: $304,242Expenses 2022: $272,040Net Income 2022: $32,2022022Revenue 2023: $275,696Expenses 2023: $271,057Net Income 2023: $4,6392023Revenue 2024: $233,730Expenses 2024: $237,168Net Income 2024: -$3,4382024Revenue 2025: $224,546Expenses 2025: $250,959Net Income 2025: -$26,4132025

Highlighted filing

2016

Revenue$274,779
Expenses$232,510
Net Income$42,269
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Aug 3, 2016
Return Version
2015v2.1
Gross Receipts
$302,322
Mission and Program Overview

Mission

Promote economic development and additional housing in the forest city community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$400,839$471,784▲ $70,945
Other Notes and Loans Receivable, Net$656,637$377,609▼ $279,028
Land, Buildings, and Equipment, Net$159,249$160,104▲ $855
Cash and Non-Interest-Bearing Accounts$19,312$35,066▲ $15,754
Investments Other Securities$253$253→ $0
Total Assets$1,310,362$1,121,204▼ $189,158
Other Assets Total$74,072$76,388▲ $2,316
Liabilities
Unsecured Notes Loans Payable$591,754$362,069▼ $229,685
Accounts Payable and Accrued Expenses$7,280$5,538▼ $1,742
Total Liabilities$599,034$367,607▼ $231,427
Net Assets / Fund Balance
Temporarily Rstr Net Assets$400,839$471,784▲ $70,945
Unrestricted Net Assets$310,489$281,813▼ $28,676
Total Net Assets Fund Balance$711,328$753,597▲ $42,269
Total Liabilities and Net Assets / Fund Balance$1,310,362$1,121,204▼ $189,158

Asset Categories

AssetBook ValueDepreciationBasis
Land$77,331-$77,331
Equipment$18,121-$18,121
Other Land Buildings$-8,362$19,245$10,883
Leasehold Improvements$1,000-$1,000
Other Assets Org$3,110--
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Mason HarmsPresident
Allan BoykenBoard Member
Bob AlsopBoard Member
Brent AbergBoard Member
Byron RuiterBoard Member
Chuck HollandBoard Member
Courtney WoogeBoard Member
Darwin LehmannBoard Member
Daryl KriegerBoard Member
Dave ArndtBoard Member
Dave KinglandBoard Member
Dennis BustaBoard Member
Jill KramerBoard Member
Jonathan KlaassenBoard Member
Kent ThoeBoard Member
Lynn HagensonBoard Member
Mark ThomaBoard Member
Mary Ann FarusBoard Member
Pat LovikBoard Member
Ray BeebeBoard Member
Ron LichtsinnBoard Member
Shelley RobsonBoard Member
Steve BakkeBoard Member
Teresa NicholsonBoard Member
Terry DurbyBoard Member
Tony ColoffBoard Member
Tony MikesBoard Member
Vicki TeglandBoard Member
Cindy CarterSecretary
John RoisenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$124,282
Program Service Revenue
$101,643
Investment Income
$54,087
Other Revenue
$-5,233
All Other Contributions
$124,282
Change in Net Assets
$42,269
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$140,385
Salaries, Compensation, and Employee Benefits$92,125
Total Fundraising Expense$8,380
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$38,588$19,294$6,431$64,313
Interest$27,599--$27,599
All Other Expenses$12,994$3,522-$16,516
Advertising$15,630--$15,630
Occupancy-$12,442-$12,442
Other Salaries and Wages$11,881--$11,881
Fees for Services Accounting-$10,080-$10,080
Insurance$8,563$952-$9,515
Other Employee Benefits$4,021$2,010$670$6,701
Office Expenses$4,835$890$356$6,081
Payroll Taxes$3,438$1,719$573$5,730
Other Expenses$5,675--$5,675
Conferences and Meetings$2,825$706-$3,531
Pension Plan Contributions$2,100$1,050$350$3,500
Travel$2,150--$2,150
Depreciation Depletion$788$1,301-$2,089
Fees for Services Legal-$37-$37
Total Functional Expenses$170,127$54,003$8,380$232,510
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Yes
Other officer compensation reviewed
Yes
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, Page 6, Part VI, Line 11B

“The federal form 990 is available for review at the board meeting prior to submittion to the government.”

Form 990, Page 6, Part VI, Line 15A

“The executive director has an annual review conducted by the president of the organization along with input from the board of directors.”

Form 990, Page 6, Part VI, Line 15B

“Employees have annual reviews conducted by the executive director with input from the board of directors.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Forest City Economic Development
EIN
42-1525819
Phone
6415855560
Address
145 S CLARK PO BOX 306, FOREST CITY, IA 50436
Doing Business As
Forest City Economic Development

Signing Officer

Name
Mason Harms
Title
President
Phone
6415855560
Signed
2016-08-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mason Harms
Formed
2002
Legal Domicile
Ia
Voting Board Members
30
Independent Board Members
30
Employees
2

Preparer

Firm
Dk Arndt Pc
Address
116 EAST I STREET, FOREST CITY, IA 50436-1760
Preparer
David K Arndt CPA
Phone
6415854631
Supplemental Narrative

Additional Explanations

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

“Promote business development and create additional housing in the forest city community.”

Raw XML AppendixShowing 400 of 518 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/MembersOrStockholdersInd0false
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IRS990/NondeductibleContributionsInd0false
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IRS990/OfficeExpensesGrp/FundraisingAmt0356
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt076388
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt0670
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt02010
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt04021
IRS990/OtherEmployeeBenefitsGrp/TotalAmt06701
IRS990/OtherExpensesGrp/Desc0SURVEYS
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IRS990/OtherExpensesGrp/Desc3COMM. SPONSORSHIP & STUDI
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,121,204
Liabilities
$367,607
Net assets
$753,597
Revenue
$274,779
Expenses
$232,510
Net income
$42,269
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.01$1.01$0.22$0.25$0.03
2024Detailed filing. Detailed filing data is available for this year.$1.05$0.01$1.04$0.23$0.24$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.05$0.01$1.04$0.28$0.27$0.00
2022Detailed filing. Detailed filing data is available for this year.$1.05$0.01$1.04$0.30$0.27$0.03
2021Detailed filing. Detailed filing data is available for this year.$1.01$0.00$1.00$0.21$0.22$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.01$0.43$0.29$0.14
2019Detailed filing. Detailed filing data is available for this year.$0.88$0.01$0.87$0.21$0.21$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.88$0.01$0.87$0.21$0.20$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.89$0.03$0.86$0.37$0.26$0.11
2016Detailed filing. Detailed filing data is available for this year.$1.12$0.37$0.75$0.27$0.23$0.04
2015Detailed filing. Detailed filing data is available for this year.$1.31$0.60$0.71$0.27$0.23$0.04
2014Detailed filing. Detailed filing data is available for this year.$1.47$0.80$0.67$0.28$0.28$0.00
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.85$1.18$0.67$0.28
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.06$1.38$0.68$0.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.23$1.59$0.63$0.36