Iowa Lakes Corridor Initiative
- Assets
- $94.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Spencer, IA
- Founding
- 07/2007
- Data as of
- 12/2022
- EIN
- 20-5129802
Organization Overview
Iowa Lakes Corridor Initiative is located in Spencer, IA. The organization was established in 2007. 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. Iowa Lakes Corridor Initiative 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 12/2022, Iowa Lakes Corridor Initiative generated $56.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $44.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (10.9%) per year over the past 8 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
2022
Describe the Organization's Program Activity:
Part 3
TO NURTURE POTENTIAL EXISTING ENTREPRENEUR'S START-UP BUSINESSES THROUGH PROFESSIONAL EDUCATION, TRAINING, MENTORING OTHER TECHNICAL ASSISTANCE IN THE FOUR-COUNTY REGION OF BUENA VISTA, CLAY, DICKINSON, AND EMMET COUNTIES IN IOWA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Porsh Board Member | 0.34 | $0 | |
Dr Brian Lenzmeier Treasurer | 0.34 | $0 | |
Burlin Matthews Board Member | 0.34 | $0 | |
Doug Benjamin Chair-2022 | 0.34 | $0 | |
Susan Zulk Board Member | 0.34 | $0 | |
Tim Fairchild Board Member | 0.34 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,594 |
| Total Program Service Revenue | $11 |
| Membership dues | $0 |
| Investment income | $515 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $56,120 |
| 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 | $2,120 |
| Occupancy, rent, utilities, and maintenance | $1,500 |
| Printing, publications, postage, and shipping | $131 |
| Other expenses | $40,998 |
| Total expenses | $44,749 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $93,445 |
| Other assets | $0 |
| Total assets | $94,945 |
| Total liabilities | $1,108 |
| Net assets or fund balances | $93,837 |