Civic Intelligence

Heartland State Economic Development Corporation

EIN 46-0986435 • 501(c)3 • Waterloo, IA

Profile

To help businesses grow and succeed

607 Sycamore Street STE 820Waterloo, IA 50703
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.91x

Higher debt load relative to assets than 92% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

97th percentile

6.90x

Higher debt load relative to revenue than 97% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

87th percentile

45%

Higher net margin than 87% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

99th percentile

575%

Faster asset growth than 99% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

95th percentile

207%

Faster revenue growth than 95% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets92nd percentile

Assets

Up

$2,068,631

Up $1,762,114 (+575%) from 2023

Liabilities

Up

$1,882,638

Up $1,638,659 (+672%) from 2023

Net Assets

Up

$185,993

Up $123,455 (+197%) from 2023

Operations
Liabilities / Revenue97th percentileNet Margin87th percentile

Revenue

Up

$272,668

Up $183,894 (+207%) from 2023

Expenses

Up

$151,232

Up $91,690 (+154%) from 2023

Net Income

Up

$121,436

Up $92,204 (+315%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth99th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2020: $71,548Liabilities 2020: $95,011Net Assets 2020: -$23,4632020Assets 2021: $114,752Liabilities 2021: $118,218Net Assets 2021: -$3,4662021Assets 2022: $144,227Liabilities 2022: $111,041Net Assets 2022: $33,1862022Assets 2023: $306,517Liabilities 2023: $243,979Net Assets 2023: $62,5382023Assets 2024: $2,068,631Liabilities 2024: $1,882,638Net Assets 2024: $185,9932024

Highlighted filing

2024

Assets$2,068,631
Liabilities$1,882,638
Net Assets$185,993
Open 2024 Filing

Operations Trend

Revenue Growth95th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2020: $42,673Expenses 2020: $64,655Net Income 2020: -$21,9822020Revenue 2021: $1,127,889Expenses 2021: $50,201Net Income 2021: $1,077,6882021Revenue 2022: $84,922Expenses 2022: $48,272Net Income 2022: $36,6502022Revenue 2023: $88,774Expenses 2023: $59,542Net Income 2023: $29,2322023Revenue 2024: $272,668Expenses 2024: $151,232Net Income 2024: $121,4362024

Highlighted filing

2024

Revenue$272,668
Expenses$151,232
Net Income$121,436
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$2,068,631
Liabilities
$1,882,638
Net assets
$185,993
Revenue
$272,668
Expenses
$151,232
Net income
$121,436
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.07$1.88$0.19$0.27$0.15$0.12
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.31$0.24$0.06$0.09$0.06$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.14$0.11$0.03$0.08$0.05$0.04
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.11$0.12$0.00$1.13$0.05$1.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.07$0.10$0.02$0.04$0.06$0.02
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 1, 2025
Return Version
2024v5.2
Gross Receipts
$1,858,057
Mission and Program Overview

Mission

To help businesses grow and succeed

Help small business get started and grow

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$32,498$1,308,012▲ $1,275,514
Savings and Temporary Cash Investments$125$613,512▲ $613,387
Loans From Officers Directors$58,619$186,887▲ $128,268
Cash and Non-Interest-Bearing Accounts$148,046$39,428▼ $108,618
Accounts Receivable$27,050$18,240▼ $8,810
Prepaid Expenses and Deferred Charges-$6,019-
Other Notes and Loans Receivable, Net$20,000$1,097▼ $18,903
Total Assets$306,517$2,068,631▲ $1,762,114
Other Assets Total$78,798$82,323▲ $3,525
Liabilities
Mortgage Notes Payable Secured by Investment Property$30,515$1,654,883▲ $1,624,368
Accounts Payable and Accrued Expenses$144,067$30,055▼ $114,012
Unsecured Notes Loans Payable$9,759$10,813▲ $1,054
Other Liabilities$1,019--
Total Liabilities$243,979$1,882,638▲ $1,638,659
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$62,538$185,993▲ $123,455
Total Net Assets Fund Balance$62,538$185,993▲ $123,455
Total Liabilities and Net Assets / Fund Balance$306,517$2,068,631▲ $1,762,114

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,308,012--
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Mark BarloonDirector
Tony YoungDirector
JAMES B O'REGANManager
Revenue and Support

Revenue Composition

Contributions and Grants
$12,250
Program Service Revenue
$0
Investment Income
$196,355
Other Revenue
$64,063
All Other Contributions
$12,250
Change in Net Assets
$121,436
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$106,191
Salaries, Compensation, and Employee Benefits$45,041
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$91,531--$91,531
Other Salaries and Wages$42,000--$42,000
Occupancy$6,000--$6,000
Information Technology$3,340--$3,340
Payroll Taxes$3,041--$3,041
Fees for Services Accounting$3,000--$3,000
Fees for Services Legal$2,397--$2,397
Other Expenses$45--$45
Total Functional Expenses$151,232$0$0$151,232
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,828
Fundraising Direct Expenses$7,615
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$58,619$186,887▲ $128,268
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI Line 11B

“Board reviewed Form 990 before it was filed with the IRS at a special”

Part VI Line 11B

“board meeting 10/18/2025”

Part VI Line 19

“Articles of incorporation and bylaws are available to the public”

Part VI Line 19

“upon request to the Board of Directors. No such requests were made.”

Filing and Contact Details

Filer

Filer Name
Heartland State Economic Development Corporation
EIN
46-0986435
In Care Of
% James B O'Regan
Phone
3194400431
Address
607 Sycamore Street STE 820, Waterloo, IA 50703

Signing Officer

Name
JAMES B O'REGAN
Title
Manager
Phone
3194400431
Signed
2025-11-01

Organization Details

Principal Officer
James B ORegan
Formed
2012
Legal Domicile
Ia
Voting Board Members
0
Independent Board Members
0
Employees
1
Raw XML Appendix360 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/USAddress/AddressLine1Txt0607 Sycamore Street Ste 820
IRS990/USAddress/CityNm0Waterloo
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JAMES B O'REGAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Manager
ReturnHeader/BusinessOfficerGrp/PhoneNum03194400431
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Heartland State Economic Development Corporation
ReturnHeader/Filer/BusinessNameControlTxt0HEAR
ReturnHeader/Filer/EIN0460986435
ReturnHeader/Filer/InCareOfNm0% James B O'Regan
ReturnHeader/Filer/PhoneNum03194400431
ReturnHeader/Filer/USAddress/AddressLine1Txt0607 Sycamore Street STE 820
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ReturnHeader/ReturnTs02025-11-01T10:27:17-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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