Medquarter Inc
- Assets
- $1.1m
- Revenue
- $223.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Cedar Rapids, IA
- Founding
- 02/2017
- Data as of
- 06/2023
- EIN
- 35-2576257
Organization Overview
Medquarter Inc is located in Cedar Rapids, IA. The organization was established in 2017. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. Medquarter Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Medquarter Inc generated $223.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (21.8%) each year. All expenses for the organization totaled $53.0k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE A MEDICAL COMMUNITY THAT IMPROVES QUALITY OF LIFE & ADVOCATES FOR NEW BUSINESS & JOBS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEDICAL COMMUNITY- THE MEDQUARTER FAITH & MEDICINE TASK FORCE CONTINUED ITS FOCUS ON COMMUNITY MENTAL HEALTH THROUGH TWO INITIATIVES: 1) ONGOING UPDATES TO AND PROMOTION OF THE LOCAL MENTAL HEALTH SERVICE RESOURCES AVAILABLE ON THE GETHELPNOWCR.COM WEBSITE LANDING PAGE AS WELL AS PRINTED MATERIALS TO BE HANDED OUT THROUGHOUT THE MEDQUARTER AND COMMUNITY. 2) PARTNERED WITH KIRKWOOD COMMUNITY COLLEGE AGAIN IN PLANNING AND EXECUTING THE 2ND ANNUAL MENTAL HEALTH SUMMIT ON MAY 25 TARGETED AT MENTAL HEALTH SERVICE PROVIDERS AND HEALTH CARE WORKERS.
BUSINESS COMMUNITY - THE MEDQUARTER CONTINUED ITS DISTRICT IMPROVEMENT EFFORTS BY COMPLETING PRIORITY #5 OF THE MASTER PARKWAY IMPROVEMENT PLAN THROUGH INFRASTRUCTURE IMPROVEMENTS TO BOTH SIDES OF 1ST AVENUE EAST FROM 10TH STREET TO 12TH STREET WHICH INCLUDED NEW LIGHT POLES/LIGHTS, TREES, DECORATIVE PAVERS, PARKING LOT SCREENING, LANDSCAPING, AND WASTE RECEPTACLES. 32 SELF-WATERING DECORATIVE PLANTERS WITH FLOWERS, GRASSES AND PLANTS WERE PLACED THROUGHOUT THE DISTRICT FOR THE GROWING SEASON. HOLIDAY LIGHTING WAS INSTALLED ON 85 TREES THROUGHOUT THE DISTRICT AS WELL AS A LARGE HOLIDAY DISPLAY ALONG 1ST AVENUE FOR THE 2022/2023 HOLIDAY SEASON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Niermann Secretary | OfficerTrustee | 1 | $0 |
Tim Quinn Treasurer | OfficerTrustee | 1 | $0 |
Philip Wasta President | Officer | 10 | $28,749 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $202,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| 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 | $202,000 |
| Total Program Service Revenue | $0 |
| Investment income | $21,006 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$37 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $222,969 |
| 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 | $0 |
| Fees for services: Accounting | $2,855 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $433 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $179 |
| 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 | $816 |
| All other expenses | $0 |
| Total functional expenses | $53,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $182,417 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $963 |
| 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 | $280,004 |
| Investments—publicly traded securities | $590,238 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,053,622 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| 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 | $1,053,622 |
| Total liabilities and net assets/fund balances | $1,053,622 |