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Nonprofiteer
← SOUTHERN IOWA DEVELOPMENT GROUP INC

Form 990 for tax year 2024

Filed by SOUTHERN IOWA DEVELOPMENT GROUP INC.

Totals

Total revenue
$85,405
Total expenses
$26,738
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$40,086
Investment income
$45,319
Other revenue
$0
Total assets, end of year
$3,341,185
Total liabilities, end of year
$33,811
Net assets or fund balances, end of year
$3,307,374
Program services expenses (Part IX)
$4,956
Management and general expenses
$21,782
Fundraising expenses
$0
Program service expenses (Part III)
$4,956

Program services were 18.5% 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.

  • 2a · Program service revenue: LOAN INTEREST INCOME

    total $35,075 · related or exempt $35,075

  • 2b · Program service revenue: ORIGINATION FEES

    total $5,011 · related or exempt $5,011

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $45,319 · excluded $45,319

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $7 · management and general $7

  • 11g · Fees: other

    total $25,618 · program services $3,843 · management and general $21,775 · fundraising $0

  • 23 · Insurance

    total $1,113 · program services $1,113

  • 24e · All other expenses

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

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $0

  • 2 · Savings and temporary cash investments

    beginning of year $2,252,656 · end of year $1,994,149

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

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

    $0

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $1,067,368 · end of year $1,347,036

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $69,908 · end of year $8,193

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $25,618

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $0

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,250,116 · end of year $3,307,374

Mission and programs · 2024

Mission

TO FURTHER THE ECONOMIC DEVELOPMENT OF THE REGION, TO PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF BUSINESS AND TO STIMULATE BUSINESS OPPORTUNITIES IN THE COUNTIES OF ADAIR, ADAMS, CLARKE, DECATUR, UNION, MADISON, RINGGOLD, AND TAYLOR IN SOUTHERN IOWA.

Activities or mission (Part I)

TO FURTHER THE ECONOMIC DEVELOPMENT OF THE REGION, TO PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF BUSINESS AND TO STIMULATE BUSINESS OPPORTUNITIES IN THE COUNTIES OF ADAIR, ADAMS, CLARKE (CONTINUED ON SCHEDULE O).

  • WE CLOSED ON ONE NEW LOAN THIS FISCAL YEAR. WE CONTINUE TO SERVICE THE EXISTING OUTSTANDING LOANS. ADDITIONALLY, MANY CONTACTS WERE MADE WITH POTENTIAL NEW INDUSTRIES. WE PROVIDE GAP FINANCING TO ASSIST COMPANIES IN OBTAINING LOANS FROM BANKS AND GRANTS FROM THE STATE. WITH THESE LOANS, WE REQUIRE A CERTAIN NUMBER OF JOBS TO BE CREATED AND A CERTAIN AMOUNT OF PRIVATE INVESTMENT IN THE PROJECT.

    Expenses $3,661 · Revenue $40,017

  • FOR THE FIRST TIME HOMEBUYER PROGRAM, WE CLOSED ON NO NEW LOANS IN THE FISCAL YEAR. WE SERVICED THE EXISTING OUTSTANDING LOANS.

    Expenses $1,295 · Revenue $69

  • WE ALSO OPERATE A SMALL CITIES LOAN PROGRAM WHERE LOANS ARE MADE TO CITIES FOR COMMUNITY FACILITIES OR EQUIPMENT. DURING THE YEAR, WE HAD NO LOANS OUTSTANDING IN RELATION TO THIS PROGRAM.

As filed on the 2024 return.

Listed in Part VII

  • Beth Waddle

    EXECUTIVE DIRECTOR UNTIL DECEMBER 2024

    Total calculated
    $134,287
    From this org
    $0
    From related orgs
    $104,571
    Other
    $29,716
    Hours/week
    1 + 41 related

  • Diane Fitch

    DIRECTOR/VICE-CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jerry Walker

    DIRECTOR/CHAIR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Judy Brimm

    INTERIM EXECUTIVE DIRECTOR STARTING JANUARY 2025

    Total calculated
    $93,722
    From this org
    $0
    From related orgs
    $82,446
    Other
    $11,276
    Hours/week
    1 + 41 related

  • Karen Zabel

    DIRECTOR/SECRETARY

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Scott Akin

    DIRECTOR/TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ashley Eckels

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Colby Holmes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Doug Davidson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Doug Tharp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Jodie Geist

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Meggan Roan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Raelynne Risser Robison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Randy Dunbar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Rick Friday

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Ryan Marquardt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sam Wengryn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Wayne Pantini

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 2 related

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

No itemized grants to organizations on this return.

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.

  • SOUTHERN IOWA COUNCIL OF GOVERNMENTS

    COMMUNITY DEVELOPMENT · IA

    Directly controlled by NA

  • SOUTHERN IOWA COG HOUSING TRUST FUND INC

    501(C)(3) · HOUSING ASSISTANCE · IA · controlled entity

    Directly controlled by SOUTHERN IOWA COUNCIL OF GOVERNMENTS

Provenance

Return type
form_990
Tax year
2024
Filed
14 August 2026
IRS schema version
2024v5.1
Source object
202612269349302961

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