Civic Intelligence

Lamoni Development Corporation

EIN 47-2809629 • 501(c)3 • Lamoni, IA

Profile

The organization works with local businesses and government entities to advance community welfare and economic climate for the city of lamoni and the surrounding area of decatur county.

901 West Main StLamoni, IA 50140

n/A

Siviq Scores

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

Liabilities / Assets

60th percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

62nd percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

86th percentile

39%

Higher net margin than 86% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

81st percentile

$0

Higher top officer pay than 81% of similar nonprofits.

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

501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

20th percentile

-50%

Faster asset growth than 20% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

-6.5%

Faster revenue growth than 45% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Down

$178,085

Down $174,886 (-50%) from 2023

Liabilities

Down

$0

Down $183,334 (-100%) from 2023

Net Assets

Up

$178,085

Up $8,448 (+5.0%) from 2023

Revenue

Down

$21,453

Down $1,491 (-6.5%) from 2023

Expenses

Down

$13,005

Down $8,447 (-39%) from 2023

Net Income

Up

$8,448

Up $6,956 (+466%) from 2023

Trend Graphs

Balance Sheet Trend

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

$800K$600K$400K$200K$0Assets 2010: $137,836Liabilities 2010: $02010Assets 2011: $142,615Liabilities 2011: $02011Assets 2012: $147,931Liabilities 2012: $02012Assets 2013: $143,084Liabilities 2013: $20,0002013Assets 2014: $146,565Liabilities 2014: $15,0002014Assets 2015: $570,627Liabilities 2015: $371,950Net Assets 2015: $198,6772015Assets 2016: $549,510Liabilities 2016: $356,549Net Assets 2016: $192,9612016Assets 2017: $515,478Liabilities 2017: $316,424Net Assets 2017: $199,0542017Assets 2018: $745,323Liabilities 2018: $552,875Net Assets 2018: $192,4482018Assets 2019: $693,913Liabilities 2019: $483,588Net Assets 2019: $210,3252019Assets 2022: $430,134Liabilities 2022: $261,989Net Assets 2022: $168,1452022Assets 2023: $352,971Liabilities 2023: $183,334Net Assets 2023: $169,6372023Assets 2024: $178,085Liabilities 2024: $0Net Assets 2024: $178,0852024

Highlighted filing

2024

Assets$178,085
Liabilities$0
Net Assets$178,085

Operations Trend

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

$150K$100K$50K$0-$50KRevenue 2010: $10,148Expenses 2010: $16,045Net Income 2010: -$5,8972010Revenue 2011: $15,035Expenses 2011: $10,256Net Income 2011: $4,7792011Revenue 2012: $11,400Expenses 2012: $6,084Net Income 2012: $5,3162012Revenue 2013: $10,638Expenses 2013: $15,485Net Income 2013: -$4,8472013Revenue 2014: $12,698Expenses 2014: $9,217Net Income 2014: $3,4812014Revenue 2015: $141,397Expenses 2015: $80,078Net Income 2015: $61,3192015Revenue 2016: $35,277Expenses 2016: $37,538Net Income 2016: -$2,2612016Revenue 2017: $30,622Expenses 2017: $33,114Net Income 2017: -$2,4922017Revenue 2018: $20,838Expenses 2018: $21,663Net Income 2018: -$8252018Revenue 2019: $43,331Expenses 2019: $25,454Net Income 2019: $17,8772019Revenue 2022: -$948Expenses 2022: $46,859Net Income 2022: -$47,8072022Revenue 2023: $22,944Expenses 2023: $21,452Net Income 2023: $1,4922023Revenue 2024: $21,453Expenses 2024: $13,005Net Income 2024: $8,4482024

Highlighted filing

2024

Revenue$21,453
Expenses$13,005
Net Income$8,448

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 15, 2025
Return Version
2024v5.1
Gross Receipts
$215,993
Mission and Program Overview

Mission

The organization works with local businesses and government entities to advance community welfare and economic climate for the city of lamoni and the surrounding area of decatur county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$77,886$92,570▲ $14,684
Savings and Temporary Cash Investments$68,761$81,891▲ $13,130
Cash and Non-Interest-Bearing Accounts$6,692$3,623▼ $3,069
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$352,971$178,085▼ $174,886
Other Assets Total$199,632$1▼ $199,631
Liabilities
Mortgage Notes Payable Secured by Investment Property$183,334--
Total Liabilities$183,334$0▼ $183,334
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$169,637$178,085▲ $8,448
Total Net Assets Fund Balance$169,637$178,085▲ $8,448
Total Liabilities and Net Assets / Fund Balance$352,971$178,085▼ $174,886
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jared DotyPresident
Richard HigdonVice President
Alysha Van LaarDirector
Ben BahrenfussDirector
Beth HigdonDirector
Bill WeaverDirector
Bonita BoothDirector
Chris CoffeltDirector
Don MillslagleDirector
Doug FosterDirector
Kelly ShrockDirector
Michael JordisonDirector
Oliver SmithDirector
Sherri AdamsDirector
Terry FultonDirector
Bill MorainSecretary
John HendersonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,740
Program Service Revenue
$0
Investment Income
$15,713
Other Revenue
$0
Change in Net Assets
$8,448
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$7,500
Other Expenses$5,505
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$7,500--$7,500
Advertising$4,060--$4,060
Interest$591--$591
Other Expenses-$534-$534
Insurance-$320-$320
Total Functional Expenses$12,151$854$0$13,005
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Decatur County Development CoLeon, IA-Job Creation$7,500
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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

Form 990, Part VI, Section B, Line 11B

No review was or will be conducted.

Form 990, Part VI, Section C, Line 19

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Lamoni Development Corporation
EIN
47-2809629
Phone
6414425195
Address
901 WEST MAIN ST, LAMONI, IA 50140

Signing Officer

Name
Bill Morain
Title
Secretary
Signed
2025-05-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bill Morain
Formed
1967
Legal Domicile
Ia
Voting Board Members
17
Independent Board Members
0
Employees
0

Preparer

Firm
Stephanie Mendenhall CPA PC
Address
217 Broad Street, Humeston, IA 50123
Preparer
Stephanie Mendenhall CPA
Phone
6418776021
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IRS990/MissionDesc0THE ORGANIZATION WORKS WITH LOCAL BUSINESSES AND GOVERNMENT ENTITIES TO ADVANCE COMMUNITY WELFARE AND ECONOMIC CLIMATE FOR THE CITY OF LAMONI AND THE SURROUNDING AREA OF DECATUR COUNTY.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt0183334
IRS990/NetAssetsOrFundBalancesBOYAmt0169637
IRS990/NetAssetsOrFundBalancesEOYAmt0178085
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-1567
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-1567
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0169637
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0178085
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0199632
IRS990/OtherAssetsTotalGrp/EOYAmt01
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0PROFESSIONAL FEES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0534
IRS990/OtherExpensesGrp/TotalAmt0534
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0BILL MORAIN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0PROMOTIONAL BILLBOARD FOR LAMONI, IA LOCATED ON INTERSTATE 35 SOUTH OF LAMONI. THE CITY OF LAMONI AND LAMONI CHAMBER ARE PARTICIPATING IN THIS PROJECT.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt04060
IRS990/ProgSrvcAccomActy3Grp/Desc0IN PRIOR YEARS THE ORGANIZATION CONSTRUCTED A COMMERICAL BUILDING WITH LONG-TERM FINANCING. $505 OF INTEREST WAS PAID ON THE DEBT IN 2024. THERE WAS A CAPITAL LEASE RECEIVABLE WITH FREEDOM RACING INC THAT WAS PAID OFF IN 2024. FREEDOM RACING INC EXERCISED A BARGAIN PURCHASE OPTION. THE COMPANY HAS CREATED NEW JOBS AND INCREASED THE TAX BASE OF THE AREA.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0591
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt08448
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt02500
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt068761
IRS990/SavingsAndTempCashInvstGrp/EOYAmt081891
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt05740
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt03420
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt06398
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt021904
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt03520
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt040982
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt015713
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt019524
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt014835
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt014611
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt016241
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt080924
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicSupportCY170Pct00.33620
IRS990ScheduleA/PublicSupportPY170Pct00.33890
IRS990ScheduleA/PublicSupportTotal170Amt040982
IRS990ScheduleA/SubstantialContributorsTotAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt05740
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt03420
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt06398
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt021904
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt03520
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt040982
IRS990ScheduleA/TotalSupportAmt0121906
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt07500
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0JOB CREATION
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DECATUR COUNTY DEVELOPMENT CO
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0COURTHOUSE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0LEON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd050144
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0352971
IRS990/TotalAssetsEOYAmt0178085
IRS990/TotalAssetsGrp/BOYAmt0352971
IRS990/TotalAssetsGrp/EOYAmt0178085
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05740
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0854
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt012151
IRS990/TotalFunctionalExpensesGrp/TotalAmt013005
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0183334

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