Grow Cedar Valley
- Assets
- $2.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 18
- Location
- Waterloo, IA
- Founding
- 12/1985
- Data as of
- 06/2022
- 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 06/2022, Grow Cedar Valley employed 18 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 06/2022, Grow Cedar Valley generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $1.6m during the year ending 06/2022. 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
2022
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 Secretary / | OfficerTrustee | 40 | $164,963 |
James Schaefer Dir. Of Inve | 40 | $121,498 | |
Melissa Reade Leader Valle | 40 | $114,381 | |
Lisa Skubal VP Of Econom | 40 | $112,504 | |
Wesley James Techworks Pr | 40 | $106,409 | |
Sandi Sommerfelt VP Of Operat | Officer | 40 | $82,391 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $966,101 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $199,860 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,165,961 |
| Total Program Service Revenue | $407,950 |
| Investment income | $6,687 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $123,104 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,840,706 |
| 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. | $273,369 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $718,561 |
| Pension plan accruals and contributions | $32,808 |
| Other employee benefits | $57,621 |
| Payroll taxes | $76,295 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,073 |
| Fees for services: Accounting | $42,206 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,137 |
| Office expenses | $28,853 |
| Information technology | $25,208 |
| Royalties | $0 |
| Occupancy | $37,202 |
| Travel | $6,014 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $882 |
| Interest | $12,519 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,732 |
| Insurance | $17,036 |
| All other expenses | $58,224 |
| Total functional expenses | $1,562,838 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $445,025 |
| Savings and temporary cash investments | $1,145,671 |
| Pledges and grants receivable | $11,430 |
| Accounts receivable, net | $96,333 |
| 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 | $16,762 |
| Net Land, buildings, and equipment | $359,780 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,307 |
| Total assets | $2,127,308 |
| Accounts payable and accrued expenses | $56,705 |
| Grants payable | $0 |
| Deferred revenue | $478,496 |
| 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 | $289,487 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $824,688 |
| Net assets without donor restrictions | $1,302,620 |
| 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 | $2,127,308 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Grow Cedar Valley has recieved totaling $48,550.
| Awarding Organization | Amount |
|---|---|
Veridian Credit Union Waterloo, IA PURPOSE: ECONOMIC DEVELOPMENT | $37,500 |
Dupaco Community Credit Union Dubuque, IA PURPOSE: General Support | $5,550 |
GreenState Credit Union UNION North Liberty, IA PURPOSE: Diversity Inclusion | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Benedictine Living Community Owatonna Minneapolis, MN | $16,154,920 | $11,439,984 |
German-American Chamber Of Commerce Of The Midwest Chicago, IL | $9,537,423 | $9,672,106 |
Greater Milwaukee Convention & Visitors Bureau Inc Milwaukee, WI | $13,303,680 | $5,924,757 |
The Chicago Association Of Realtors Inc Chicago, IL | $11,107,922 | $7,821,690 |
Illinois Small Business Growth Corporation Springfield, IL | $2,478,514 | $7,890,542 |
Mainstreet Organization Of Realtors Downers Grove, IL | $23,598,352 | $9,176,226 |
Rochester Mn Convention & Visitors Bureau Rochester, MN | $3,813,150 | $6,781,864 |
Builders Association Of The Twin Cities Roseville, MN | $16,664,252 | $7,996,813 |
International Society Of Transport Aircraft Traders Chicago, IL | $15,949,487 | $6,305,891 |
St Paul Area Board Of Realtors Inc Multiple Listing Service St Paul, MN | $14,704,848 | $6,091,315 |
Better Business Bureau Of Minnesota Inc Burnsville, MN | $5,220,297 | $4,952,353 |
Better Business Bureau Of Greater St Louis Inc St Louis, MO | $4,281,553 | $5,139,066 |