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← NORTH IOWA CORRIDOR ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by NORTH IOWA CORRIDOR ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$507,544
Total expenses
$489,776
Contributions and grants received
$493,491
Grants paid
$18,226
Program service revenue
$0
Investment income
$14,053
Other revenue
$0
Total assets, end of year
$2,035,032
Total liabilities, end of year
$79,844
Net assets or fund balances, end of year
$1,955,188
Program services expenses (Part IX)
$359,138
Management and general expenses
$100,019
Fundraising expenses
$30,619
Program service expenses (Part III)
not reported

Program services were 73.3% 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)

    $327,273

  • 1f · All other contributions, gifts and grants

    $166,218

  • 3 · Investment income

    total $14,053 · unrelated business $0 · excluded $14,053

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $18,226 · program services $18,226

  • 5 · Compensation of officers, directors and key employees

    total $164,314 · program services $123,235 · management and general $27,886 · fundraising $13,193

  • 7 · Other salaries and wages

    total $112,073 · program services $76,049 · management and general $26,685 · fundraising $9,339

  • 8 · Pension plan contributions

    total $15,509 · program services $11,173 · management and general $3,044 · fundraising $1,292

  • 9 · Other employee benefits

    total $27,897 · program services $20,097 · management and general $5,475 · fundraising $2,325

  • 10 · Payroll taxes

    total $19,280 · program services $13,889 · management and general $3,784 · fundraising $1,607

  • 11a · Fees: management

    total $5,111 · program services $5,111 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $5,955 · program services $0 · management and general $5,955 · fundraising $0

  • 13 · Office expenses

    total $5,474 · program services $4,147 · management and general $909 · fundraising $418

  • 16 · Occupancy

    total $25,800 · program services $17,200 · management and general $6,450 · fundraising $2,150

  • 17 · Travel

    total $3,434 · program services $2,576 · management and general $572 · fundraising $286

  • 19 · Conferences, conventions and meetings

    total $2,313 · program services $0 · management and general $2,313 · fundraising $0

  • 23 · Insurance

    total $5,282 · program services $0 · management and general $5,282 · fundraising $0

  • 24a · Other expenses: MARKETING COSTS

    total $8,642 · program services $8,616 · management and general $17 · fundraising $9

  • 24b · Other expenses: BANK FEES

    total $211 · program services $0 · management and general $211 · fundraising $0

  • 24c · Other expenses: DUES & SUBSCRIPTIONS

    total $10,307 · program services $0 · management and general $10,307 · fundraising $0

  • 24d · Other expenses: CONTINUING EDUCATION

    total $1,129 · program services $0 · management and general $1,129 · fundraising $0

  • 24e · All other expenses

    total $58,819 · program services $58,819 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $325,159 · end of year $73,797

  • 2 · Savings and temporary cash investments

    beginning of year $1,364,279 · end of year $1,552,986

  • 3 · Pledges and grants receivable

    beginning of year $45,410 · end of year $37,048

  • 7 · Other notes and loans receivable

    beginning of year $254,891 · end of year $307,280

  • 9 · Prepaid expenses and deferred charges

    beginning of year $27,712 · end of year $63,921

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,593 · end of year $11,406

  • 18 · Grants payable

    beginning of year $68,438 · end of year $68,438

  • 27 · Net assets without donor restrictions

    beginning of year $639,918 · end of year $655,024

  • 28 · Net assets with donor restrictions

    beginning of year $1,297,502 · end of year $1,300,164

Mission and programs · 2022

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 2022 return.

Listed in Part VII

  • Kent Brcka

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Josh Thompson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robert Klocke

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Mark Ebeling

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Scott Smed

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Emily Peters

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Chuck Schafer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rod Schlader

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Collin Davison

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Chelsy Snyder Anderson

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Christy Marchand

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Chad Schreck

    PRESIDENT

    Total calculated
    $183,112
    From this org
    $158,314
    From related orgs
    $0
    Other
    $24,798
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,925
    Bonus
    $6,389
    Other
    $6,000
    Deferred
    $9,499
    Nontaxable benefits
    $9,299
    Filer's total
    $183,112

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

  • NORTH IOWA AREA COMM COLLEGE

    $18,226

    JOB SHARE

Provenance

Return type
form_990
Tax year
2022
Filed
14 December 2023
IRS schema version
2022v5.0
Source object
202440209349300114

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