Newton Development Corporation

“Members of newton development corporation are individuals and businesses who reside in and/or do business in the greater newton community”

“Members of the organization elect the board of directors at the annual meeting”

“Member have full voting rights at the annual meeting, and are required to approve any amendment of the articles of incorporation or bylaws”

“Newton development corporation distributes a copy of the form 990 to the board of directors prior to filing the return”

“The governing body member annual questionaire is distributed and collected annually”

“Newton development corporations executive committee reviews comparability data (other economic development entities, etc) and approves and makes recommendations to the full board for approval”

“Upon reuest, a copy of the governing documents and conflict of interest policy are made available to the public”

“The organizations accounts are maintained, and financial statements are presented, on the modified cash basis of accounting for contributions and membership fees at the point of cash collection. All other revenue and expenses are recognized in accordance with the accrual method of accounting”

“Form 990 part iii, line 1 description of organizations mission: success is measured through growth in employment, population, housing, retail sales, tax base, healthcare accessibility and school enrollment. The organization will follow these principals and values: honesty, integrity, respect, professionalism, teamwork and an appropriate balance of transparency and confidentiality”

“Form 990, part iii, line 4a program service accomplishments: county economic development network comprised of jasper, marshall, tama, poweshiek, and benton counties. Annual fees collected from each county has allowed the edonomic directors to leverage monies from the region and state to provide advertising in various site selection publications, create marketing materials and attend various trade shows throughout the united states. The newton development corporation website (www.newtondevelopmentcorporation.com) is another tool for economic develpment and growth as the website provides information relative to available building and sites, promotes the community and serves as a source of information for new and existing businesses and entrepreneurs. The following outlines several programs the ndc provides as it continues to promote the growth and sustainability of the community. All of these programs could not be possible without the support from the many partners and the enthusiasm from the community and businesses to continue to grow: 1) business retention calls: synchronist surveys completed for every advanced manufacturer in jasper county as confidential data collected is used to provide economic development support in areas of sustainability and growth and build relationships. Work directly with ided, mid-american and alliant energy as they are strong advocates of the program thhroughout the state of iowa. 2) recruiting new business: work directly with ided and iowa connections in the recruitment of new companies for the community and the surrounding area. Ided program managers have visited newton and looked at building and sites so they have a better understanding of what newton has to offer. 3) entrepreneurial and existing business support programs: since 2007 newton development corporation has served over hundreds of participants in a variety of entrepreneurial and existing business support programs thghrough the parnership of dmacc, jedco, myentre.ent, uni-sbdc, score, city of newton and sba. The newton development corporation coordinates smi-annual calendars outlining programs, classes and events that directly promote and support existing businesses and entrepreneurism.”

“Form 990, part iii, line 4b program service accomplishments: ndc also provides businesses with access to capital by maintaining good relationships with the banks in newton. This is beneficial when directing entrepreneurs and existing business owners when capital is needed.”

“ADJUSTMENT IN ASSETS”

“Provision for doubtful loans”