Form 990 for tax year 2023
Filed by NORTH IOWA CORRIDOR ECONOMIC DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $936,611
- Total expenses
- $888,980
- Contributions and grants received
- $916,796
- Grants paid
- $7,237
- Program service revenue
- $0
- Investment income
- $19,815
- Other revenue
- $0
- Total assets, end of year
- $2,377,298
- Total liabilities, end of year
- $99,479
- Net assets or fund balances, end of year
- $2,277,819
- Program services expenses (Part IX)
- $700,314
- Management and general expenses
- $153,209
- Fundraising expenses
- $35,457
- Program service expenses (Part III)
- not reported
Program services were 78.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$525,558
-
1f · All other contributions, gifts and grants
$391,238
-
3 · Investment income
total $19,815 · excluded $19,815
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $7,237 · program services $7,237
-
5 · Compensation of officers, directors and key employees
total $172,036 · program services $129,027 · management and general $29,173 · fundraising $13,836
-
7 · Other salaries and wages
total $156,136 · program services $88,822 · management and general $54,303 · fundraising $13,011
-
8 · Pension plan contributions
total $16,762 · program services $11,100 · management and general $4,265 · fundraising $1,397
-
9 · Other employee benefits
total $32,352 · program services $21,424 · management and general $8,232 · fundraising $2,696
-
10 · Payroll taxes
total $22,414 · program services $14,843 · management and general $5,703 · fundraising $1,868
-
11a · Fees: management
total $6,453 · program services $6,453
-
11b · Fees: legal
total $1,550 · management and general $1,550
-
11c · Fees: accounting
total $6,890 · management and general $6,890
-
13 · Office expenses
total $4,840 · program services $3,518 · management and general $918 · fundraising $404
-
14 · Information technology
total $2,311 · management and general $2,311
-
16 · Occupancy
total $25,800 · program services $17,200 · management and general $6,450 · fundraising $2,150
-
17 · Travel
total $1,142 · program services $857 · management and general $190 · fundraising $95
-
19 · Conferences, conventions and meetings
total $5,170 · management and general $5,170
-
23 · Insurance
total $5,065 · management and general $5,065
-
24a · Other expenses: COUNTY WIDE COMPREHENSIVE
total $188,500 · program services $188,500
-
24b · Other expenses: CHILDCARE WORKS PROGRAM
total $150,000 · program services $150,000
-
24c · Other expenses: CERTIFIED SITE PROGRAM
total $40,329 · program services $40,329
-
24d · Other expenses: MARKETING COSTS
total $18,626 · program services $18,626
-
24e · All other expenses
total $25,367 · program services $2,378 · management and general $22,989
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $73,797 · end of year $91,518
-
2 · Savings and temporary cash investments
beginning of year $1,552,986 · end of year $1,374,745
-
3 · Pledges and grants receivable
beginning of year $37,048 · end of year $25,525
-
7 · Other notes and loans receivable
beginning of year $307,280 · end of year $548,739
-
9 · Prepaid expenses and deferred charges
beginning of year $63,921 · end of year $61,771
-
15 · Other assets
end of year $275,000
-
17 · Accounts payable and accrued expenses
beginning of year $11,406 · end of year $31,041
-
18 · Grants payable
beginning of year $68,438 · end of year $68,438
-
27 · Net assets without donor restrictions
beginning of year $655,024 · end of year $973,113
-
28 · Net assets with donor restrictions
beginning of year $1,300,164 · end of year $1,304,706
Mission and programs · 2023
Mission
SUPPORT BUSINESS AND INDUSTRY WITH RETENTION AND EXPANSION PROJECTS AND ATTRACT NEW BUSINESS AND INDUSTRY TO CERRO GORDO COUNTY, MASON CITY AND CLEAR LAKE.
-
THE ORGANIZATION SUPPORTS BUSINESS AND INDUSTRY EFFORTS TO RETAIN AND EXPAND IN THE NORTH IOWA AREA BY PROVIDING RESEARCH, MARKETING,PROMOTION AND OTHER ASSISTANCE FOR NEW AND EXISTING BUSINESSES.
As filed on the 2023 return.
Listed in Part VII
-
Chad SchreckCHAD SCHRECK
PRESIDENT
- Total calculated
- $192,781
- From this org
- $166,036
- From related orgs
- $0
- Other
- $26,745
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $166,036
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- $26,745
- Filer's total
- $192,781
-
Chelsy Snyder AndersonCHELSY SNYDER ANDERSON
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Kent BrckaKENT BRCKA
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Collin DavisonCOLLIN DAVISON
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Mark EbelingMARK EBELING
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Robert KlockeROBERT KLOCKE
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Christy MarchandCHRISTY MARCHAND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Emily PetersEMILY PETERS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Chuck SchaferCHUCK SCHAFER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Rod SchladerROD SCHLADER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Scott SmedSCOTT SMED
PAST CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Josh ThompsonJOSH THOMPSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
NIACC
$7,237
JOB SHARE
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
NI CORRIDOR HOUSING DEVELOPMENT COR
501C3 · HOUSING · IA · controlled entity
Directly controlled by NI CORRIDO
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
312 E STATE ST LLC
GENERAL · IA · income $11,782 · assets $6,940
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 8 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202501339349309435
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