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Nonprofiteer
← SIOUXLAND ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2023

Filed by SIOUXLAND ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$991,613
Total expenses
$777,798
Contributions and grants received
$122,453
Grants paid
$22,110
Program service revenue
$671,821
Investment income
$197,339
Other revenue
$0
Total assets, end of year
$5,152,007
Total liabilities, end of year
$237,899
Net assets or fund balances, end of year
$4,914,108
Program services expenses (Part IX)
$643,385
Management and general expenses
$134,413
Fundraising expenses
$0
Program service expenses (Part III)
$643,385

Program services were 82.7% 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)

    $79,328

  • 1f · All other contributions, gifts and grants

    $43,125

  • 2a · Program service revenue: LOAN SERVICING FEES

    total $449,761 · related or exempt $449,761

  • 2b · Program service revenue: INTEREST ON LOANS

    total $151,340 · related or exempt $151,340

  • 2c · Program service revenue: LOAN PROCESSING FEES

    total $56,889 · related or exempt $56,889

  • 2d · Program service revenue: REIMBURSEMENT OF LOAN

    total $13,831 · related or exempt $13,831

  • 3 · Investment income

    total $197,339 · excluded $197,339

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $22,110 · program services $22,110

  • 5 · Compensation of officers, directors and key employees

    total $138,145 · program services $103,608 · management and general $34,537

  • 7 · Other salaries and wages

    total $241,225 · program services $233,134 · management and general $8,091

  • 9 · Other employee benefits

    total $36,518 · program services $36,027 · management and general $491

  • 10 · Payroll taxes

    total $26,444 · program services $23,828 · management and general $2,616

  • 11a · Fees: management

    total $20,731 · management and general $20,731

  • 11c · Fees: accounting

    total $18,500 · management and general $18,500

  • 12 · Advertising and promotion

    total $2,615 · management and general $2,615

  • 13 · Office expenses

    total $15,383 · program services $6,940 · management and general $8,443

  • 16 · Occupancy

    total $48,981 · program services $36,736 · management and general $12,245

  • 17 · Travel

    total $999 · program services $999

  • 20 · Interest

    total $1,890 · program services $1,890

  • 22 · Depreciation, depletion and amortization

    total $10,624 · management and general $10,624

  • 23 · Insurance

    total $15,520 · management and general $15,520

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $120,000 · program services $120,000

  • 24b · Other expenses: DUES

    total $25,399 · program services $25,399

  • 24c · Other expenses: LOAN CLOSING COSTS

    total $11,252 · program services $11,252

  • 24d · Other expenses: LOAN SERVICING EXPENSE

    total $11,034 · program services $11,034

  • 24e · All other expenses

    total $10,428 · program services $10,428

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $29,573 · end of year $85,387

  • 2 · Savings and temporary cash investments

    beginning of year $1,828,067 · end of year $1,694,073

  • 4 · Accounts receivable

    beginning of year $3,628 · end of year $777

  • 7 · Other notes and loans receivable

    beginning of year $2,709,055 · end of year $3,093,575

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60,500 · end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $429,170

  • 10b · Land, buildings and equipment: accumulated depreciation

    $176,864

  • 10c · Land, buildings and equipment, net

    beginning of year $262,929 · end of year $252,306

  • 15 · Other assets

    beginning of year $19,604 · end of year $25,889

  • 17 · Accounts payable and accrued expenses

    beginning of year $44,833 · end of year $84,967

  • 23 · Secured mortgages and notes payable

    beginning of year $168,230 · end of year $152,932

  • 27 · Net assets without donor restrictions

    beginning of year $2,560,198 · end of year $2,677,565

  • 28 · Net assets with donor restrictions

    beginning of year $2,140,095 · end of year $2,236,543

Mission and programs · 2023

Mission

TO FURTHER THE ECONOMIC DEVELOPMENT OF THE SIOUXLAND AREA THROUGH THE CREATION OF JOBS, BY ASSISTING THE GROWTH AND DEVELOPMENT OF BUSINESSES.

  • MAKING LOANS TO BUSINESSES TO MEET OBJECTIVES OF SEDC, WHICH INCLUDE FURTHERING ECONOMIC DEVELOPMENT IN THE AREA, PROMOTING GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS AND STIMULATING BUSINESS OPPORTUNITY.

    Expenses $643,385 · Grants $22,110 · Revenue $671,821

As filed on the 2023 return.

Listed in Part VII

  • Dusty Small

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Don Klynsma

    VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Randall Kramer

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Kent Kolbe

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Sarah Hamann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ron Jones

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Art Silva

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jon Wilcke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Joeli Dokter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kiana Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mike Broek

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Timm Funk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chance Bernstrauch

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kaylee Johnson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Gaul

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brandon Krotz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Darwin Gamm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Angel Wallace

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Terry Krei

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Alex Watters

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Keith Radig

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andy Schmidt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Eaton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jacqueline Nohr

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $127,312
    From this org
    $95,000
    From related orgs
    $0
    Other
    $32,312
    Hours/week
    40

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
23 March 2025
IRS schema version
2023v6.0
Source object
202520839349300312

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