Civic Intelligence

Paramount Development Inc

990 • Fiscal year 2024 • EIN 83-1998197

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 24, 2025

Organization Profilewww.paramountdevelopment.org
15191 Hawthorn DrClive, IA 50325

(515) 423-2009

Siviq Scores

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

Liabilities / Assets

97th percentile

2.38x

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

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

Liabilities / Revenue

84th percentile

0.13x

Higher debt load relative to revenue than 84% of similar nonprofits.

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

Net Margin

30th percentile

-6.8%

Higher net margin than 30% of similar nonprofits.

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

Top Officer Pay

83rd percentile

$11,667

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

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

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Balance Sheet
Liabilities / Assets97th percentile

Assets

$21,038

No earlier filing loaded for comparison.

Net Assets

-$29,057

No earlier filing loaded for comparison.

Liabilities

$50,095

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin30th percentile

Revenue

$377,702

No earlier filing loaded for comparison.

Expenses

$403,354

No earlier filing loaded for comparison.

Net Income

-$25,652

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$60K$40K$20K$0-$20K-$40KAssets 2024: $21,038Liabilities 2024: $50,095Net Assets 2024: -$29,0572024Assets 2025: $9,360Liabilities 2025: $2,056Net Assets 2025: $7,3042025

Highlighted filing

2024

Assets$21,038
Liabilities$50,095
Net Assets-$29,057
Open 2024 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$600K$400K$200K$0-$200KRevenue 2024: $377,702Expenses 2024: $403,354Net Income 2024: -$25,6522024Revenue 2025: $208,943Expenses 2025: $172,582Net Income 2025: $36,3612025

Highlighted filing

2024

Revenue$377,702
Expenses$403,354
Net Income-$25,652
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 24, 2025
Return Version
2024v5.1
Gross Receipts
$377,702
Mission and Program Overview

Mission

The organization is organized primarily for the purpose of providing decent, affordable housing opportunities for extremely low-income to moderate-income households.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$795$14,497▲ $13,702
Accounts Receivable-$4,541-
Savings and Temporary Cash Investments-$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-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$7,795$21,038▲ $13,243
Other Assets Total$7,000$2,000▼ $5,000
Liabilities
Other Liabilities$11,200$34,541▲ $23,341
Accounts Payable and Accrued Expenses-$15,554-
Total Liabilities$11,200$50,095▲ $38,895
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-3,405$-29,057▼ $25,652
Total Net Assets Fund Balance$-3,405$-29,057▼ $25,652
Total Liabilities and Net Assets / Fund Balance$7,795$21,038▲ $13,243

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$1,000--
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jerry FloydExecutive DirectorFT$11,667$11,667

Board Members and Trustees

NameTitle
Ken MattesonChairman
Anne TriplettDirector
Daejohn LoveDirector
Kimberly HansenDirector
Paige YontzDirector
Rachelle SetsodiDirector
Shonna FloydSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$377,677
Program Service Revenue
$0
Investment Income
$25
Other Revenue
$0
All Other Contributions
$377,677
Change in Net Assets
$-25,652
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$376,839
Other Expenses$13,841
Salaries, Compensation, and Employee Benefits$12,674
Total Fundraising Expense$1,433
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$376,839--$376,839
Current Officers, Directors, Trustees, and Key Employees$10,500$583$583$11,666
Payroll Taxes$908$50$50$1,008
Insurance$792$44$44$880
Fees for Services Accounting$207$12$12$231
Other Expenses$168$9$9$186
Office Expenses$26$2$1$29
Travel$4$1$1$6
Fees for Services Legal$4$1-$5
Total Functional Expenses$400,487$1,434$1,433$403,354
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-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payable - Jerry Floyd$30,442
Payroll Tax Liabilities$2,099
Payable - Paramount Equity$2,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
Yes
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 A, Line 2

“Jerry floyd and shonna floyd are married individuals. Jerry is the executive director of paramount development. Shonna is the secretary/treasurer. Both indivduals are nonvoting members of the board of directors.”

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

“A copy of the organizations form 990 is made available to its board of directors and the board of directors approve the filing of the 990 by a majority vote.”

Form 990, Part VI, Section B, Line 15A

“A COMMITTEE OF THE INDEPENDENT BOARD OF DIRECTORS ESTABLISHES THE PAY FOR THE EXECUTIVE DIRECTOR BASED ON COMPARABILITY STUDIES. THE COMPENSATION COMMITTEE recommends and the full board approves the compensation.”

Form 990, Part VI, Section C, Line 19

“All organization documents required to be made available to the public are available for public inspection upon written request to:jerry floyd, executive director15191 hawthorn driveclive, ia 50325”

Filing and Contact Details

Filer

Filer Name
Paramount Development Inc
EIN
83-1998197
Phone
5154232009
Address
15191 HAWTHORN DR, CLIVE, IA 50325

Signing Officer

Name
Jerry Floyd
Title
Executive Director
Signed
2025-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jerry Floyd
Formed
2018
Legal Domicile
Ia
Voting Board Members
6
Independent Board Members
6
Employees
1
Volunteers
6

Preparer

Firm
Tarbell & Co Plc
Address
1466 28TH STREET SUITE 100, WEST DES MOINES, IA 50266
Preparer
David Wall CPA
Phone
5152820200
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IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt0377677
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IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0377677
IRS990ScheduleA/Total509Grp/TotalAmt0377677
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0377702
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0377702
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
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt01000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt11000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0EQUITY - PARAMOUNT I, LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1EQUITY - PARAMOUNT II, LLC
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2IFA EARNEST MONEY DEPOSIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt030442
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt22099
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYABLE - JERRY FLOYD
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYABLE - PARAMOUNT EQUITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PAYROLL TAX LIABILITIES
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02000
IRS990ScheduleD/TotalLiabilityAmt034541
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0376839
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0REHABILITATION EXPENSE
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt053
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION MAINTAINS SYSTEMS AND DATA TO MONITOR THE USE AND SUPPORT PROVIDED BY GRANT FUNDS
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Grantmaker's Description of How Grants are Used
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JERRY FLOYD AND SHONNA FLOYD ARE MARRIED INDIVIDUALS. JERRY IS THE EXECUTIVE DIRECTOR OF PARAMOUNT DEVELOPMENT. SHONNA IS THE SECRETARY/TREASURER. BOTH INDIVDUALS ARE NONVOTING MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE ORGANIZATIONS FORM 990 IS MADE AVAILABLE TO ITS BOARD OF DIRECTORS AND THE BOARD OF DIRECTORS APPROVE THE FILING OF THE 990 BY A MAJORITY VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A COMMITTEE OF THE INDEPENDENT BOARD OF DIRECTORS ESTABLISHES THE PAY FOR THE EXECUTIVE DIRECTOR BASED ON COMPARABILITY STUDIES. THE COMPENSATION COMMITTEE recommends and the full board approves the compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL ORGANIZATION DOCUMENTS REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC ARE AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST TO:JERRY FLOYD, EXECUTIVE DIRECTOR15191 HAWTHORN DRIVECLIVE, IA 50325
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0PARAMOUNT DEVELOPMENT INC
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IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1PARAMOUNT II LLC
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IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN1841843362
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IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1IA
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0AFFORDABLE HOUSING DEVELOPMENT PROJECTS
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1AFFORDABLE HOUSING DEVELOPMENT PROJECTS
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt015191 HAWTHORN DRIVE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt115191 HAWTHORN DRIVE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm0CLIVE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/CityNm1CLIVE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd0IA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/StateAbbreviationCd1IA
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd050325
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/ZIPCd150325
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
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IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt07795
IRS990/TotalAssetsEOYAmt021038
IRS990/TotalAssetsGrp/BOYAmt07795
IRS990/TotalAssetsGrp/EOYAmt021038
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0377677
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01433
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01434
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0400487

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$21,038
Liabilities
$50,095
Net assets
-$29,057
Revenue
$377,702
Expenses
$403,354
Net income
-$25,652
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.09$0.02$0.07$2.09$1.73$0.36
2024Detailed filing. Detailed filing data is available for this year.$0.21$0.50$0.29$3.78$4.03$0.26