Southern Iowa Development Group Inc
- Assets
- $3.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Creston, IA
- Founding
- 03/1989
- Data as of
- 09/2021
- EIN
- 42-1301169
Organization Overview
Southern Iowa Development Group Inc is located in Creston, IA. The organization was established in 1989. According to its NTEE Classification (S32) the organization is classified as: Rural 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. Southern Iowa Development Group Inc 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 09/2021, Southern Iowa Development Group Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 69.2% each year . All expenses for the organization totaled $217.8k during the year ending 09/2021. While expenses have increased by 40.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER THE ECONOMIC DEVELOPMENT OF THE REGION, TO PROMOTE AND ASSISTTHE GROWTH AND DEVELOPMENT OF BUSINESS AND TO STIMULATE BUSINESSOPPORTUNITIES IN THE COUNTIES OF ADAIR, ADAMS, CLARKE, DECATUR, UNION,MADISON, RINGGOLD, AND TAYLOR IN SOUTHERN IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE CLOSED ON NINE LOANS THIS FISCAL YEAR, IN ADDITON TO SERVICING THE OTHER LOANS OUTSTANDING. 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.
FOR THE FIRST TIME HOMEBUYER PROGRAM, WE CLOSED ON TWO NEW LOANS IN THE FISCAL YEAR. WE ALSO SERVICE THE NEW LOANS AND THE EXISTING LOANS OUTSTANDING. IN ADDITION, MANY NEW CONTACTS WERE MADE WITH BANKERS AND REALTORS IN ORDER TO PROMOTE OUR PROGRAM. THIS WILL HELP ENSURE THIS PROGRAM IS VIABLE IN THE FUTURE.
WE ALSO OPERATE A SMALL CITIES LOAN PROGRAM WHERE LOANS ARE MADE TO CITIES FOR COMMUNITY FACILITIES OR EQUIPMENT. DURING THE YEAR, WE CURRENTLY HAVE ONE LOAN OUTSTANDING TO THE CITY OF PRESCOTT FOR THE PURCHASE OF A DUMP TRUCK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerry Walker Chair | OfficerTrustee | 1 | $0 |
Karen Zabel Secretary | OfficerTrustee | 1 | $0 |
Ron Riley Treasurer | OfficerTrustee | 1 | $0 |
Diane Fitch Vice - Chair | OfficerTrustee | 1 | $0 |
Colby Holmes Director | Trustee | 1 | $0 |
Doug Birt Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,189,502 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,189,502 |
| Total Program Service Revenue | $27,290 |
| Investment income | $1,803 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,218,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $79 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $217,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $38,164 |
| Savings and temporary cash investments | $1,391,879 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,642,741 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,072,784 |
| Accounts payable and accrued expenses | $56,682 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $56,682 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $3,016,102 |
| Total liabilities and net assets/fund balances | $3,072,784 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Southern Iowa Development Group Inc has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Alegent Health Mercy Hospital Corning, IA PURPOSE: GENERAL SUPPORT | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Dairyland Economic Opportunity Council Incorporated Independence, WI | $9,371,395 | $17,670,947 |
Rural America Initiatives Rapid City, SD | $11,020,564 | $7,975,941 |
Missouri Incutech Foundation Rolla, MO | $1,463,624 | $4,973,546 |
Community And Economic Development Associates Chatfield, MN | $1,658,001 | $2,830,781 |
Pulaski County Growth Alliance Saint Robert, MO | $34,130 | $1,396,256 |
New Covenant Community Development Chicago, IL | $1,571,797 | $1,893,496 |
Sharing Our Roots Northfield, MN | $1,750,092 | $967,957 |
Rural Electric Economic Development Inc Madison, SD | $44,957,084 | $2,458,763 |
Native360 Loan Fund Inc Grand Island, NE | $7,395,095 | $2,498,904 |
Door County Economic Development Corporation Sturgeon Bay, WI | $2,581,699 | $998,049 |
South Eastern Development Foundation Sioux Falls, SD | $22,464,210 | $4,520,935 |
Center For Rural Policy And Development Mankato, MN | $628,188 | $663,588 |