Form 990 for tax year 2023
Filed by IOWA LAKES CORRIDOR DEVELOPMENT CORPORATION.
Totals
- Total revenue
- $425,923
- Total expenses
- $545,516
- Contributions and grants received
- $413,704
- Grants paid
- $0
- Program service revenue
- $0
- Investment income
- $12,219
- Other revenue
- $0
- Total assets, end of year
- $1,436,042
- Total liabilities, end of year
- $11,001
- Net assets or fund balances, end of year
- $1,425,041
- Program services expenses (Part IX)
- $424,938
- Management and general expenses
- $120,578
- Fundraising expenses
- $0
- Program service expenses (Part III)
- not reported
Program services were 77.9% 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.
-
1f · All other contributions, gifts and grants
$413,704
-
3 · Investment income
total $12,219 · excluded $12,219
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $56,510 · management and general $56,510
-
7 · Other salaries and wages
total $207,951 · program services $198,346 · management and general $9,605
-
8 · Pension plan contributions
total $31,987 · program services $23,990 · management and general $7,997
-
10 · Payroll taxes
total $19,580 · program services $14,685 · management and general $4,895
-
11c · Fees: accounting
total $49,128 · program services $36,847 · management and general $12,281
-
12 · Advertising and promotion
total $36,430 · program services $27,323 · management and general $9,107
-
13 · Office expenses
total $9,759 · program services $7,319 · management and general $2,440
-
16 · Occupancy
total $38,419 · program services $28,814 · management and general $9,605
-
17 · Travel
total $8,901 · program services $6,676 · management and general $2,225
-
22 · Depreciation, depletion and amortization
total $2,761 · program services $2,071 · management and general $690
-
23 · Insurance
total $4,388 · program services $3,291 · management and general $1,097
-
24a · Other expenses: BAD DEBT
total $55,439 · program services $55,439
-
24b · Other expenses: CONFERENCE & PROF. DEVEL
total $7,493 · program services $5,620 · management and general $1,873
-
24c · Other expenses: EXISTING INDUSTRY
total $5,825 · program services $5,825
-
24d · Other expenses: MISCELLANEOUS
total $5,324 · program services $3,993 · management and general $1,331
-
24e · All other expenses
total $5,621 · program services $4,699 · management and general $922
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $520,389 · end of year $311,834
-
2 · Savings and temporary cash investments
end of year $400,000
-
3 · Pledges and grants receivable
beginning of year $995,039 · end of year $588,418
-
4 · Accounts receivable
beginning of year $39,850 · end of year $96,325
-
10a · Land, buildings and equipment: cost or other basis
$173,143
-
10b · Land, buildings and equipment: accumulated depreciation
$166,985
-
10c · Land, buildings and equipment, net
beginning of year $8,920 · end of year $6,158
-
11 · Investments: publicly traded securities
beginning of year $25,790 · end of year $27,977
-
15 · Other assets
end of year $5,330
-
17 · Accounts payable and accrued expenses
beginning of year $6,157 · end of year $11,001
-
25 · Other liabilities
beginning of year $39,197
-
27 · Net assets without donor restrictions
beginning of year $588,792 · end of year $836,623
-
28 · Net assets with donor restrictions
beginning of year $955,842 · end of year $588,418
Mission and programs · 2023
Mission
TO FOSTER, ENCOURAGE, AID OR OTHERWISE ASSIST IN THE ECONOMIC GROWTH AND DEVELOPMENT OF THE FOUR-COUNTY REGION OF BUENA VISTA, CLAY, DICKINSON AND EMMET COUNTIES IN IOWA.
-
WORKFORCE - ASSURING EMPLOYERS HAVE ACCESS TO AN ADEQUATE AND WELL-TRAINED WORKFORCE, WITH AN EMPHASIS ON WORKER ATTRACTION/RETENTION, WORKER TRAINING/NEW SKILLS, CAREER EDUCATION, AND ADEQUATE FUNDING.
-
HOUSING/INFRASTRUCTURE - PROVIDING AN INFRASTRUCTURE CONDUCIVE TO BUSINESS DEVELOPMENT, WITH AN EMPHASIS ON HOUSING, TRANSPORTATION COMMUNICATIONS, AND VOLUNTEER/LEADER DEVELOPMENT.
-
BUSINESS DEVELOPMENT - CREATE AN ENVIRONMENT FOR BUSINESS DEVELOPMENT AND JOB GROWTH BY EMPHASIZING EXISTING AND HIGH VALUE BUSINESS, COMMUNICATIONS, ISSUE ACTION, AND MARKETING.
As filed on the 2023 return.
Listed in Part VII
-
Curt StrouthCURT STROUTH
EXECUTIVE DI
- Total calculated
- $56,510
- From this org
- $56,510
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Matt BeaverMATT BEAVER
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Brad BeckBRAD BECK
CHAIR-2023
- Total calculated
- $0
- Hours/week
- 0.34
-
Doug BenjaminDOUG BENJAMIN
CHAIR-2022
- Total calculated
- $0
- Hours/week
- 0.34
-
Scott BerglundSCOTT BERGLUND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Walter DebockWALTER DEBOCK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Keith DeiteringKEITH DEITERING
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Tim FairchildTIM FAIRCHILD
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Mike KoeneckeMIKE KOENECKE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Brian LenzmeierBRIAN LENZMEIER
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 0.34
-
Michelle NicosonMICHELLE NICOSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
John PluthJOHN PLUTH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Mike PorschMIKE PORSCH
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Ebony RaheEBONY RAHE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Jed SkogerboeJED SKOGERBOE
TREASURER
- Total calculated
- $0
- Hours/week
- 0.34
-
Nathan WittmaackNATHAN WITTMAACK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
-
Donavon WunschelDONAVON WUNSCHEL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 0.34
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.
-
IOWA LAKES CORRIDOR INITIATIVE
501C3 · AID COMMUN · IA
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.
-
IOWA LAKES CORRIDOR FUTURE FUND LLC
AID COMMUN · IA · assets $301
Directly controlled by ILCDC IOWA LAKES CORRIDOR DEV CORP
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 26 September 2024
- IRS schema version
- 2023v5.0
- Source object
- 202423099349300227
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