Civic Intelligence

MILL Race Center for Entrepreneuership

EIN 82-1919079 • 501(c)3 • Cedar Falls, IA

Profile

NONE.

4516 Coronado CTCedar Falls, IA 50613

www.millraceco.com

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 2022

Liabilities / Revenue

62nd percentile

0.00x

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

501(c)3 • <$500k nonprofits • Source year 2022

Net Margin

79th percentile

26%

Higher net margin than 79% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2022

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 2022

Asset Growth

81st percentile

32%

Faster asset growth than 81% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

13th percentile

-68%

Faster revenue growth than 13% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Up

$32,390

Up $7,783 (+32%) from 2021

Liabilities

Down

$0

Down $686 (-100%) from 2021

Net Assets

Up

$32,390

Up $8,469 (+35%) from 2021

Revenue

Down

$33,000

Down $70,652 (-68%) from 2021

Expenses

Down

$24,532

Down $169,897 (-87%) from 2021

Net Income

Up

$8,468

Up $99,245 (+109%) from 2021

Trend Graphs

Balance Sheet Trend

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

$150K$100K$50K$0Assets 2018: $50,473Liabilities 2018: $1,583Net Assets 2018: $48,8902018Assets 2019: $104,964Liabilities 2019: $4,312Net Assets 2019: $100,6522019Assets 2020: $118,968Liabilities 2020: $4,270Net Assets 2020: $114,6982020Assets 2021: $24,607Liabilities 2021: $686Net Assets 2021: $23,9212021Assets 2022: $32,390Liabilities 2022: $0Net Assets 2022: $32,3902022

Highlighted filing

2022

Assets$32,390
Liabilities$0
Net Assets$32,390

Operations Trend

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

$400K$200K$0-$200KRevenue 2018: $313,522Expenses 2018: $264,632Net Income 2018: $48,8902018Revenue 2019: $359,768Expenses 2019: $308,006Net Income 2019: $51,7622019Revenue 2020: $392,651Expenses 2020: $378,605Net Income 2020: $14,0462020Revenue 2021: $103,652Expenses 2021: $194,429Net Income 2021: -$90,7772021Revenue 2022: $33,000Expenses 2022: $24,532Net Income 2022: $8,4682022

Highlighted filing

2022

Revenue$33,000
Expenses$24,532
Net Income$8,468

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Feb 15, 2023
Return Version
2022v4.1
Gross Receipts
$33,000
Mission and Program Overview

Mission

NONE.

To support entrepreneuers and early-stage companies in the cedar valley.

Program Services

DescriptionGrantsExpenses
WE HOSTED A WINTER/SPRING COHORT OF THE 10-WEEK CO.STARTERS ENTREPRENEURIAL TRAINING PROGRAM, PROVIDING TRAINING AND ON-GOING BUSINESS COACHING SUPPORT TO SEVEN ENTREPRENEURS. SIX OF THE PARTICIPANTS WERE FOUNDERS FROM UNDERREPRESENTED DEMOGRAPHICS (EITHER FEMALE AND/OR ETHNIC MINORITY). THE KEY OBJECTIVE OF THIS PROGRAM IS TO HELP NEW BUSINESS FOUNDERS LEARN FASTER AND LOWER THE RISK OF LAUNCHING THE NEW BUSINESS. TWO OF THE PARTICIPANTS WENT ON TO RAISE ADDITIONAL CAPITAL IN THE SIX MONTHS FOLLOWING THE PROGRAM.$0$21,563
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
DANNY LAUDICKExecutive Director-$0--
KRIS HANSENChairman-$0--
LAURA HANDVice Chair-$0--
RESHONDA YOUNGTreasurer-$0--
THERESE STEVENSSecretary-$0--
TRACE STEFFENDirector-$0--
Filing and Contact Details

Filer

Filer Name
Mill Race Center for Entrepreneuership
EIN
82-1919079
Phone
3195536921
Address
4516 CORONADO CT, CEDAR FALLS, IA 50613

Signing Officer

Name
Danny Laudick
Title
Executive Director
Phone
3195536921
Signed
2023-02-15
Discuss with paid preparer
Yes

Preparer

Firm
Bergankdv Ltd
Address
PO BOX 2100, WATERLOO, IA 50704-2100
Preparer
Brian Aronson CPA
Phone
3192346885
Supplemental Narrative

Additional Explanations

Form 990-ez, Part I, Line 16 - Other Expenses

Description: advertising. Amount: 66. Description: office expenses. Amount: 3. Description: information technology. Amount: 990. Description: dues and subscriptions. Amount: 1,093. Description: events and training. Amount: 10,507. Total to form 990-ez, line 16: 12,659.

Form 990-ez, Part II, Line 24 - Other Assets

Description: accounts receivable. Beg. Of year amount: 894. End of year amount: 0.

Form 990-ez, Part II, Line 26 - Other Liabilities

Description: accounts payable. Beg. Of year amount: 686. End of year amount: 0.

Form 990-ez, Part V, Line 33

In 2022, the organization wound down operations, transitioning some of the programming and focus on new business startups to a regional economic development partner, grow cedar valley. In september 2021, the organization transitioned the executive director position to a volunteer role, and partnered with grow cedar valley to promote and host a winter/spring cohort of the 10-week co.starters traning program. The board of directors is currently discussing with grow cedar valley the opportunity to continue the entrepreneuer training programs under their umbrella and transfer any net assets of the organization to grow cedar valley. The potential transition is expected to occur during 2023.

Raw XML Appendix171 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.

Path#Value
IRS990EZ/ActivitiesNotPreviouslyRptInd01
IRS990EZ/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0THE ORGANIZATION
IRS990EZ/BooksInCareOfDetail/PhoneNum03195536921
IRS990EZ/BooksInCareOfDetail/USAddress/AddressLine1Txt04516 CORONADO CT
IRS990EZ/BooksInCareOfDetail/USAddress/CityNm0CEDAR FALLS
IRS990EZ/BooksInCareOfDetail/USAddress/StateAbbreviationCd0IA
IRS990EZ/BooksInCareOfDetail/USAddress/ZIPCd050613
IRS990EZ/CashSavingsAndInvestmentsGrp/BOYAmt023714
IRS990EZ/CashSavingsAndInvestmentsGrp/EOYAmt032390
IRS990EZ/ChgMadeToOrgnzngDocNotRptInd00
IRS990EZ/ContributionsGiftsGrantsEtcAmt033000
IRS990EZ/DirectIndirectPltclExpendAmt00
IRS990EZ/DonorAdvisedFndsInd00
IRS990EZ/EngagedInExcessBenefitTransInd00
IRS990EZ/ExcessOrDeficitForYearAmt08468
IRS990EZ/FeesAndOtherPymtToIndCntrctAmt08123
IRS990EZ/FiledScheduleAInd01
IRS990EZ/ForeignFinancialAccountInd00
IRS990EZ/ForeignOfficeInd00
IRS990EZ/Form990TotalAssetsGrp/BOYAmt024608
IRS990EZ/Form990TotalAssetsGrp/EOYAmt032390
IRS990EZ/GrossReceiptsAmt033000
IRS990EZ/InfoInScheduleOPartIIIInd0X
IRS990EZ/InfoInScheduleOPartIIInd0X
IRS990EZ/InfoInScheduleOPartIInd0X
IRS990EZ/InfoInScheduleOPartVInd0X
IRS990EZ/LobbyingActivitiesInd00
IRS990EZ/MadeLoansToFromOfficersInd00
IRS990EZ/MethodOfAccountingAccrualInd0X
IRS990EZ/NetAssetsOrFundBalancesBOYAmt023922
IRS990EZ/NetAssetsOrFundBalancesEOYAmt032390
IRS990EZ/NetAssetsOrFundBalancesGrp/BOYAmt023922
IRS990EZ/NetAssetsOrFundBalancesGrp/EOYAmt032390
IRS990EZ/OccupancyRentUtltsAndMaintAmt03750
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt02.00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt10.10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt20.10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt30.10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt40.10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/AverageHrsPerWkDevotedToPosRt50.10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/CompensationAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/EmployeeBenefitProgramAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt00
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt10
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt20
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt30
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt40
IRS990EZ/OfficerDirectorTrusteeEmplGrp/ExpenseAccountOtherAllwncAmt50
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm0DANNY LAUDICK
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm1KRIS HANSEN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm2LAURA HAND
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm3RESHONDA YOUNG
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm4THERESE STEVENS
IRS990EZ/OfficerDirectorTrusteeEmplGrp/PersonNm5TRACE STEFFEN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt0EXECUTIVE DIRECTOR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt1CHAIRMAN
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt2VICE CHAIR
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt3TREASURER
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt4SECRETARY
IRS990EZ/OfficerDirectorTrusteeEmplGrp/TitleTxt5DIRECTOR
IRS990EZ/OperateHospitalInd00
IRS990EZ/Organization501c3Ind0X
IRS990EZ/OrganizationDissolvedEtcInd00
IRS990EZ/OrganizationHadUBIInd00
IRS990EZ/OtherAssetsTotalDetail/BOYAmt0894
IRS990EZ/OtherAssetsTotalDetail/EOYAmt00
IRS990EZ/OtherChangesInNetAssetsAmt00
IRS990EZ/OtherExpensesTotalAmt012659
IRS990EZ/PartVIHghstPdCntrctProfSrvcTxt0NONE
IRS990EZ/PartVIOfCompOfHghstPdEmplTxt0NONE
IRS990EZ/PoliticalCampaignActyInd00
IRS990EZ/PrimaryExemptPurposeTxt0TO SUPPORT ENTREPRENEUERS AND EARLY-STAGE COMPANIES IN THE CEDAR VALLEY.
IRS990EZ/ProgramSrvcAccomplishmentGrp/DescriptionProgramSrvcAccomTxt0WE HOSTED A WINTER/SPRING COHORT OF THE 10-WEEK CO.STARTERS ENTREPRENEURIAL TRAINING PROGRAM, PROVIDING TRAINING AND ON-GOING BUSINESS COACHING SUPPORT TO SEVEN ENTREPRENEURS. SIX OF THE PARTICIPANTS WERE FOUNDERS FROM UNDERREPRESENTED DEMOGRAPHICS (EITHER FEMALE AND/OR ETHNIC MINORITY). THE KEY OBJECTIVE OF THIS PROGRAM IS TO HELP NEW BUSINESS FOUNDERS LEARN FASTER AND LOWER THE RISK OF LAUNCHING THE NEW BUSINESS. TWO OF THE PARTICIPANTS WENT ON TO RAISE ADDITIONAL CAPITAL IN THE SIX MONTHS FOLLOWING THE PROGRAM.
IRS990EZ/ProgramSrvcAccomplishmentGrp/GrantsAndAllocationsAmt00
IRS990EZ/ProgramSrvcAccomplishmentGrp/ProgramServiceExpensesAmt021563
IRS990EZ/ProhibitedTaxShelterTransInd00
IRS990EZ/RelatedOrganizationCtrlEntInd00
IRS990EZ/SchoolOperatingInd00
IRS990EZ/SubjectToProxyTaxInd00
IRS990EZ/SumOfTotalLiabilitiesGrp/BOYAmt0686
IRS990EZ/SumOfTotalLiabilitiesGrp/EOYAmt00
IRS990EZ/TanningServicesProvidedInd00
IRS990EZ/TaxImposedOnOrganizationMgrAmt00
IRS990EZ/TaxImposedUnderIRC4911Amt00
IRS990EZ/TaxImposedUnderIRC4912Amt00
IRS990EZ/TaxImposedUnderIRC4955Amt00
IRS990EZ/TaxReimbursedByOrganizationAmt00
IRS990EZ/TotalExpensesAmt024532
IRS990EZ/TotalProgramServiceExpensesAmt021563
IRS990EZ/TotalRevenueAmt033000
IRS990EZ/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990EZ/TypeOfOrganizationCorpInd0X
IRS990EZ/WebsiteAddressTxt0WWW.REDCEDARCV.COM
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt033000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt067181
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0264521
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0220293
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0189630
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0774625
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt0690541
IRS990ScheduleA/SubstantialContributorsTotAmt084084
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt033000
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt067181
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0264521
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0220293
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0189630
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0774625
IRS990ScheduleA/TotalSupportAmt0774625
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DESCRIPTION: ADVERTISING. AMOUNT: 66. DESCRIPTION: OFFICE EXPENSES. AMOUNT: 3. DESCRIPTION: INFORMATION TECHNOLOGY. AMOUNT: 990. DESCRIPTION: DUES AND SUBSCRIPTIONS. AMOUNT: 1,093. DESCRIPTION: EVENTS AND TRAINING. AMOUNT: 10,507. TOTAL TO FORM 990-EZ, LINE 16: 12,659.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DESCRIPTION: ACCOUNTS RECEIVABLE. BEG. OF YEAR AMOUNT: 894. END OF YEAR AMOUNT: 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DESCRIPTION: ACCOUNTS PAYABLE. BEG. OF YEAR AMOUNT: 686. END OF YEAR AMOUNT: 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IN 2022, THE ORGANIZATION WOUND DOWN OPERATIONS, TRANSITIONING SOME OF THE PROGRAMMING AND FOCUS ON NEW BUSINESS STARTUPS TO A REGIONAL ECONOMIC DEVELOPMENT PARTNER, GROW CEDAR VALLEY. IN SEPTEMBER 2021, THE ORGANIZATION TRANSITIONED THE EXECUTIVE DIRECTOR POSITION TO A VOLUNTEER ROLE, AND PARTNERED WITH GROW CEDAR VALLEY TO PROMOTE AND HOST A WINTER/SPRING COHORT OF THE 10-WEEK CO.STARTERS TRANING PROGRAM. THE BOARD OF DIRECTORS IS CURRENTLY DISCUSSING WITH GROW CEDAR VALLEY THE OPPORTUNITY TO CONTINUE THE ENTREPRENEUER TRAINING PROGRAMS UNDER THEIR UMBRELLA AND TRANSFER ANY NET ASSETS OF THE ORGANIZATION TO GROW CEDAR VALLEY. THE POTENTIAL TRANSITION IS EXPECTED TO OCCUR DURING 2023.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990-EZ, PART I, LINE 16 - OTHER EXPENSES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990-EZ, PART II, LINE 24 - OTHER ASSETS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990-EZ, PART II, LINE 26 - OTHER LIABILITIES
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990-EZ, PART V, LINE 33
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-03-07 01:45:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DANNY LAUDICK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03195536921
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-02-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MILL RACE CENTER FOR ENTREPRENEUERSHIP
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0AND INNOVATION
ReturnHeader/Filer/BusinessNameControlTxt0MILL
ReturnHeader/Filer/EIN0821919079
ReturnHeader/Filer/PhoneNum03195536921
ReturnHeader/Filer/USAddress/AddressLine1Txt04516 CORONADO CT
ReturnHeader/Filer/USAddress/CityNm0CEDAR FALLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050613
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411431613
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BERGANKDV LTD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 2100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WATERLOO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0507042100
ReturnHeader/PreparerPersonGrp/PhoneNum03192346885
ReturnHeader/PreparerPersonGrp/PreparationDt02023-02-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BRIAN ARONSON CPA
ReturnHeader/ReturnTs02023-02-23T08:14:47-06:00
ReturnHeader/ReturnTypeCd0990EZ
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DANNY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LAUDICK
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.