Northwest Iowa Economic Development Corporation
- Assets
- $165.0k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Sheldon, IA
- Founding
- 02/2011
- Data as of
- 12/2023
- EIN
- 27-2075123
Organization Overview
Northwest Iowa Economic Development Corporation, operating under the name Northwest Iowa Development, is located in Sheldon, IA. The organization was established in 2011. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northwest Iowa Development is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Northwest Iowa Development generated $37.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (24.6%) each year. All expenses for the organization totaled $37.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (24.2%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATIONS MISSION IS TO EMPOWER ITS MEMBERS TO JOINTLY PROMOTE NORTHWEST IOWA THROUGH PROVIDING TOOLS TO EDUCATE ITS MEMBERS THORUGH TRAINING ACTIVTIES, TRADE SHOWS AND ADVERTISING IN TRADE PUBLICATIONS.
Describe the Organization's Program Activity:
Part 3
SUPPORTING MEMBER TOOLS FOR TRACKING BUSINESS PROSPECTS THAT WOULD HAVE THE POTENTIAL TO CREATE JOBS IN NORTHWEST IOWA.
TRADE ADVERTISING AND ATTENDANCE AT TRADE SHOWS TO PROMOTE NORTHWEST IOWA.
MEMBER TRAINING AND TRADE RESEARCH TO EDUCATE MEMBERS TO ASSIST THEM IN PROMOTING NORTHWEST IOWA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Simons Director | 2 | $0 | |
Dan Janssen Treasurer | 3 | $0 | |
Lesa Stofferan Secretary | 3 | $0 | |
David Miller Director | 2 | $0 | |
Jason Anderson Director | 2 | $0 | |
Mark Gaul Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $34,035 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $3,046 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $37,081 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $14,827 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $22,444 |
| Total expenses | $37,271 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $164,987 |
| Other assets | $0 |
| Total assets | $164,987 |
| Total liabilities | $0 |
| Net assets or fund balances | $164,987 |