Grow Cedar Valley
- Assets
- $2.4m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 13
- Location
- Waterloo, IA
- Founding
- 12/1985
- Data as of
- 06/2024
- EIN
- 42-1241941
Organization Overview
Grow Cedar Valley is located in Waterloo, IA. The organization was established in 1985. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2024, Grow Cedar Valley employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grow Cedar Valley 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 06/2024, Grow Cedar Valley generated $2.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.2m during the year ending 06/2024. While expenses have increased by 2.9% per year over the past 8 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
WORKING TO INCREASE THE ECONOMIC VITALITY AND WEALTH IN THE WATERLOO/CEDAR FALLS AREA AND SURROUNDING ECONOMIC REGION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT ACTIVITIES AIMED AT PROMOTING THE WATERLOO/CEDAR FALLS, IOWA METROPOLITAN AREA TO NEW AND EXISTING BUSINESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carolyn Darrah Past Secreta | 40 | $207,003 | |
Melissa Reade Leader Valle | 40 | $121,477 | |
James Schaefer Dir. Of Inve | 40 | $118,416 | |
Sandi Sommerfelt VP Of Operat | 40 | $114,418 | |
Lisa Skubal VP Of Econom | 40 | $120,837 | |
Katy Susong Secretary / | OfficerTrustee | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,071,265 |
| Fundraising events | $46,800 |
| Related organizations | $0 |
| Government grants | $150,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $174,660 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,443,225 |
| Total Program Service Revenue | $618,145 |
| Investment income | $58,999 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $15,450 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$11,884 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,261,185 |
| 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. | $312,241 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $932,959 |
| Pension plan accruals and contributions | $40,278 |
| Other employee benefits | $45,443 |
| Payroll taxes | $94,382 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,283 |
| Fees for services: Accounting | $37,609 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,465 |
| Office expenses | $32,461 |
| Information technology | $27,196 |
| Royalties | $0 |
| Occupancy | $39,175 |
| Travel | $22,577 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,980 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,554 |
| Insurance | $22,272 |
| All other expenses | $205,279 |
| Total functional expenses | $2,196,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $503,873 |
| Savings and temporary cash investments | $1,625,163 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $50,213 |
| 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 | $17,883 |
| Net Land, buildings, and equipment | $177,582 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $48,754 |
| Total assets | $2,423,468 |
| Accounts payable and accrued expenses | $73,687 |
| Grants payable | $0 |
| Deferred revenue | $512,020 |
| 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 | $585,707 |
| Net assets without donor restrictions | $1,837,761 |
| 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 | $2,423,468 |