Albia Area Improvement Association
- Assets
- $1.2m
- Revenue
- $521.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Albia, IA
- Founding
- 07/1992
- Data as of
- 12/2021
- EIN
- 42-1218704
Organization Overview
Albia Area Improvement Association is located in Albia, IA. The organization was established in 1992. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood 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. Albia Area Improvement Association 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 12/2021, Albia Area Improvement Association generated $521.7k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.3% each year . All expenses for the organization totaled $67.6k during the year ending 12/2021. 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
HISTORICAL PRESERVATION OF THE BUILDINGS IN THE COMMUNITY AND BEAUTIFICATION OF THE ALBIA, IOWA COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL OF RENOVATED BUILDING AND OTHER HISTORICAL PRESERVATION EXPENDITURES IN THE CITY OF ALBIA HISTORICAL DISTRICT.
PROVIDING A THEATRE FOR THE RESIDENTS OF THE AREA. THEATRE BUILDING PURCHASED IN ORDER TO PRESERVE THE HISTORICAL NATURE OF THE BUILDING, AND TO PROVIDE ENTERTAINMENT OPTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Tometich Secretary | OfficerTrustee | 1 | $0 |
Carroll Rhine Vice President | OfficerTrustee | 1 | $0 |
David Johnson President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $534,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $534,025 |
| Total Program Service Revenue | $11,764 |
| Investment income | $53 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$34,605 |
| 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 | $521,733 |
| 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 | $9,132 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $995 |
| 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 | $6,962 |
| Travel | $486 |
| 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 | $575 |
| Insurance | $0 |
| All other expenses | $1,360 |
| Total functional expenses | $67,610 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,164 |
| Savings and temporary cash investments | $81,658 |
| 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 | $270,252 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,167 |
| Other assets | $803,887 |
| Total assets | $1,165,128 |
| Accounts payable and accrued expenses | $2,860 |
| 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 | $2,860 |
| Net assets without donor restrictions | $1,162,268 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,165,128 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Albia Area Improvement Association has recieved totaling $434,000.
| Awarding Organization | Amount |
|---|---|
Monroe County Iowa Community Foundation Albia, IA PURPOSE: GRANT FOR THEATRE | $422,000 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION | $12,000 |
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|---|---|---|
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Southwest Organizing Project Chicago, IL | $8,393,250 | $8,859,182 |
Better Family Life Inc Saint Louis, MO | $13,300,452 | $8,576,793 |
Center For People In Need Inc Lincoln, NE | $4,396,742 | $7,753,507 |
Kootasca Community Action Inc Grand Rapids, MN | $3,733,183 | $8,667,071 |
Impact Seven Incorporated Rice Lake, WI | $149,638,063 | $17,926,158 |
North Central Community Action Program Inc wisconsin rapids, WI | $2,366,497 | $7,790,312 |
St Paul Auto Dealers And District 77 Lodge Iamaw Joint Fund Bloomington, MN | $6,441,158 | $6,840,517 |
Cortex St Louis, MO | $86,543,841 | $5,279,863 |
Chicago Community Loan Fund Chicago, IL | $136,728,558 | $16,943,178 |