Civic Intelligence

Henry County Industrial Development Corporation

990 • Fiscal year 2020 • EIN 42-6075845

Jan 01, 2020 to Dec 31, 2020 • Filed on Sep 23, 2021

124 S MainMT Pleasant, IA 52641

(319) 385-3101

Siviq Scores

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

Liabilities / Assets

45th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

45th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

95th percentile

56%

Higher net margin than 95% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

46th percentile

0.6%

Faster asset growth than 46% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

68th percentile

-6.4%

Faster revenue growth than 68% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Assets

Up

$462,065

Up $2,977 (+0.6%) from 2019

Net Assets

Up

$462,065

Up $2,977 (+0.6%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue

Down

$5,294

Down $364 (-6.4%) from 2019

Expenses

Up

$2,317

Up $578 (+33%) from 2019

Net Income

Down

$2,977

Down $942 (-24%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2010: $1,449,278Liabilities 2010: $800,000Net Assets 2010: $649,2782010Assets 2011: $1,386,474Liabilities 2011: $737,500Net Assets 2011: $648,9742011Assets 2012: $1,311,813Liabilities 2012: $675,000Net Assets 2012: $636,8132012Assets 2013: $1,300,236Liabilities 2013: $612,500Net Assets 2013: $687,7362013Assets 2014: $1,274,307Liabilities 2014: $375,000Net Assets 2014: $899,3072014Assets 2015: $521,368Liabilities 2015: $0Net Assets 2015: $521,3682015Assets 2016: $524,375Liabilities 2016: $0Net Assets 2016: $524,3752016Assets 2017: $528,799Liabilities 2017: $0Net Assets 2017: $528,7992017Assets 2018: $455,169Liabilities 2018: $0Net Assets 2018: $455,1692018Assets 2019: $459,088Liabilities 2019: $0Net Assets 2019: $459,0882019Assets 2020: $462,065Liabilities 2020: $0Net Assets 2020: $462,0652020Assets 2021: $322,860Liabilities 2021: $0Net Assets 2021: $322,8602021Assets 2022: $321,742Liabilities 2022: $0Net Assets 2022: $321,7422022Assets 2023: $324,796Liabilities 2023: $0Net Assets 2023: $324,7962023Assets 2024: $335,929Liabilities 2024: $0Net Assets 2024: $335,9292024

Highlighted filing

2020

Assets$462,065
Liabilities$0
Net Assets$462,065

Operations Trend

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

$400K$200K$0-$200K-$400KExpenses 2010: $13,3242010Expenses 2011: $13,6832011Expenses 2012: $15,8132012Revenue 2013: $68,408Expenses 2013: $17,485Net Income 2013: $50,9232013Revenue 2014: $298,821Expenses 2014: $24,750Net Income 2014: $274,0712014Revenue 2015: -$366,591Expenses 2015: $11,348Net Income 2015: -$377,9392015Revenue 2016: $5,109Expenses 2016: $2,102Net Income 2016: $3,0072016Revenue 2017: $5,778Expenses 2017: $1,354Net Income 2017: $4,4242017Revenue 2018: $5,247Expenses 2018: $78,877Net Income 2018: -$73,6302018Revenue 2019: $5,658Expenses 2019: $1,739Net Income 2019: $3,9192019Revenue 2020: $5,294Expenses 2020: $2,317Net Income 2020: $2,9772020Revenue 2021: -$111,449Expenses 2021: $27,756Net Income 2021: -$139,2052021Revenue 2022: $587Expenses 2022: $1,705Net Income 2022: -$1,1182022Revenue 2023: $5,918Expenses 2023: $2,864Net Income 2023: $3,0542023Revenue 2024: $12,873Expenses 2024: $1,740Net Income 2024: $11,1332024

Highlighted filing

2020

Revenue$5,294
Expenses$2,317
Net Income$2,977
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Sep 23, 2021
Return Version
2020v4.0
Gross Receipts
$5,294
Mission and Program Overview

Mission

To improve the quality of life for the resident of henry county, iowa through economic growth.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$253,640$253,640→ $0
Savings and Temporary Cash Investments$161,618$162,991▲ $1,373
Cash and Non-Interest-Bearing Accounts$23,830$25,434▲ $1,604
Other Notes and Loans Receivable, Net$20,000$20,000→ $0
Total Assets$459,088$462,065▲ $2,977
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$459,088$462,065▲ $2,977
Total Net Assets Fund Balance$459,088$462,065▲ $2,977
Total Liabilities and Net Assets / Fund Balance$459,088$462,065▲ $2,977
Compensation and Service Providers

Board Members and Trustees

NameTitle
Michael PattenPresident
Chris PlunkettDirector
Dan MccabeDirector
Gary SeeDirector
Kevin WheelerDirector
Michelle RosellDirector
Robert MeyerDirector
Steve BrimhallDirector
Ted WileyDirector
Terry McwilliamsDirector
Tom WenstrandDirector
Kristi PerryExec Directo
Carla McnameeVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,373
Other Revenue
$3,921
Change in Net Assets
$2,977
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,317
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
Insurance$895--$895
Fees for Services Accounting-$800-$800
Occupancy$622--$622
Total Functional Expenses$1,517$800$0$2,317
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
Annual disclosure for covered persons
Yes
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, Part VI

Disclosure of meetings: the board of directors of henry county industrial development corporation is also the board of mount pleasant area development commission, which is the designated administrative body for henry county industrial development corporation. The meetings of mount pleasant area development commission are documented via minutes.

Form 990, Page 6, Part VI, Line 11B

The form 990 will be presented to the board at their board meeting prior to filing the tax return.

Form 990, Page 6, Part VI, Line 12C

It is the duty of all board members to be aware of the conflict of interest policy, and to identify conflicts of interest and situations that may result in the appearance of a conflict and to disclose those situations, conflicts or potential conflicts to (i) the executive vice president of mt pleasant chamber alliance, (ii) the chair of board or (iii) other designated person, as appropriate.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, policies, and financial statements are made available to the public.

Filing and Contact Details

Filer

Filer Name
Henry County Industrial Development
EIN
42-6075845
Phone
3193853101
Address
124 S MAIN, MT PLEASANT, IA 52641

Signing Officer

Name
Michael Patten
Title
President
Phone
3193853101
Signed
2021-09-23
Discuss with paid preparer
Yes

Organization Details

Formed
1959
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
12

Preparer

Firm
Tdt Cpas and Advisors Pc
Address
204 NORTH MAIN, MT PLEASANT, IA 52641
Preparer
Tom Holtkamp CPA
Phone
3193859718
Supplemental Narrative

Additional Explanations

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

To improve the quality of life for the residents of henry county, iowa through economic growth. Hcidc has in the past decade facilitated the development of two major manufacturing operations in crossroads industrial park, west liberty foods/millard refrigerated services and fluoro-seal, that represent more than 6.9 million taxable valuation and 500+ jobs. Hcidc completed construction of a third speculative shell building in 2009, which was sold during 2015. The presence of the shell building was a vital first step in convincing golden eagle distributing co. To consider mount pleasant for a new location that ultimately was constructed just a quarter of a mile away. That property now has a taxable valuation of 7.6 million. Finally, hcidc, working through its affiliate, the mount pleasant area development commission, maintains programs in business attraction, business retention & expansion, entrepreneurial support, education, and community development.

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IRS990/Form990PartVIISectionAGrp/TitleTxt5PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO IMPROVE THE QUALITY OF LIFE FOR THE RESIDENTS OF HENRY COUNTY, IOWA THROUGH ECONOMIC GROWTH. HCIDC HAS IN THE PAST DECADE FACILITATED THE DEVELOPMENT OF TWO MAJOR MANUFACTURING OPERATIONS IN CROSSROADS INDUSTRIAL PARK, WEST LIBERTY FOODS/MILLARD REFRIGERATED SERVICES AND FLUORO-SEAL, THAT REPRESENT MORE THAN 6.9 MILLION TAXABLE VALUATION AND 500+ JOBS. HCIDC COMPLETED CONSTRUCTION OF A THIRD SPECULATIVE SHELL BUILDING IN 2009, WHICH WAS SOLD DURING 2015. THE PRESENCE OF THE SHELL BUILDING WAS A VITAL FIRST STEP IN CONVINCING GOLDEN EAGLE DISTRIBUTING CO. TO CONSIDER MOUNT PLEASANT FOR A NEW LOCATION THAT ULTIMATELY WAS CONSTRUCTED JUST A QUARTER OF A MILE AWAY. THAT PROPERTY NOW HAS A TAXABLE VALUATION OF 7.6 MILLION. FINALLY, HCIDC, WORKING THROUGH ITS AFFILIATE, THE MOUNT PLEASANT AREA DEVELOPMENT COMMISSION, MAINTAINS PROGRAMS IN BUSINESS ATTRACTION, BUSINESS RETENTION & EXPANSION, ENTREPRENEURIAL SUPPORT, EDUCATION, AND COMMUNITY DEVELOPMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DISCLOSURE OF MEETINGS: THE BOARD OF DIRECTORS OF HENRY COUNTY INDUSTRIAL DEVELOPMENT CORPORATION IS ALSO THE BOARD OF MOUNT PLEASANT AREA DEVELOPMENT COMMISSION, WHICH IS THE DESIGNATED ADMINISTRATIVE BODY FOR HENRY COUNTY INDUSTRIAL DEVELOPMENT CORPORATION. THE MEETINGS OF MOUNT PLEASANT AREA DEVELOPMENT COMMISSION ARE DOCUMENTED VIA MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 WILL BE PRESENTED TO THE BOARD AT THEIR BOARD MEETING PRIOR TO FILING THE TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IT IS THE DUTY OF ALL BOARD MEMBERS TO BE AWARE OF THE CONFLICT OF INTEREST POLICY, AND TO IDENTIFY CONFLICTS OF INTEREST AND SITUATIONS THAT MAY RESULT IN THE APPEARANCE OF A CONFLICT AND TO DISCLOSE THOSE SITUATIONS, CONFLICTS OR POTENTIAL CONFLICTS TO (I) THE EXECUTIVE VICE PRESIDENT OF MT PLEASANT CHAMBER ALLIANCE, (II) THE CHAIR OF BOARD OR (III) OTHER DESIGNATED PERSON, AS APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0459088
IRS990/TotalAssetsEOYAmt0462065
IRS990/TotalAssetsGrp/BOYAmt0459088
IRS990/TotalAssetsGrp/EOYAmt0462065
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0800
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01517
IRS990/TotalFunctionalExpensesGrp/TotalAmt02317
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0459088
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0462065
IRS990/TotalRevenueGrp/ExclusionAmt05294
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05294
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0459088
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0462065
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt012
IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.MOUNTPLEASANTIOWA.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL PATTEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03193853101
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HENRY COUNTY INDUSTRIAL DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0HENR
ReturnHeader/Filer/EIN0426075845
ReturnHeader/Filer/PhoneNum03193853101
ReturnHeader/Filer/USAddress/AddressLine1Txt0124 S MAIN
ReturnHeader/Filer/USAddress/CityNm0MT PLEASANT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd052641
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0421029744
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TDT CPAS AND ADVISORS PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0204 NORTH MAIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MT PLEASANT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd052641
ReturnHeader/PreparerPersonGrp/PhoneNum03193859718
ReturnHeader/PreparerPersonGrp/PreparationDt02021-09-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TOM HOLTKAMP CPA
ReturnHeader/ReturnTs02021-09-29T13:25:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PATTEN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.34$0.00$0.34$0.01$0.00$0.01
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.32$0.00$0.32$0.01$0.00$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.00$0.32$0.00$0.00$0.00
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.00$0.32$0.11$0.03$0.14
2020Detailed filing. Detailed filing data is available for this year.$0.46$0.00$0.46$0.01$0.00$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.00$0.46$0.01$0.00$0.00
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.00$0.46$0.01$0.08$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.53$0.00$0.53$0.01$0.00$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.52$0.00$0.52$0.01$0.00$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.52$0.00$0.52$0.37$0.01$0.38
2014Detailed filing. Detailed filing data is available for this year.$1.27$0.38$0.90$0.30$0.02$0.27
2013Detailed filing. Detailed filing data is available for this year.$1.30$0.61$0.69$0.07$0.02$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.31$0.68$0.64$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.39$0.74$0.65$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.80$0.65$0.01