Guthrie Center Area Development Corporation
- Assets
- $318.8k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Guthrie Center, IA
- Founding
- 11/1986
- Data as of
- 12/2021
- EIN
- 42-1275758
Organization Overview
Guthrie Center Area Development Corporation is located in Guthrie Center, IA. The organization was established in 1986. 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. Guthrie Center Area Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2021, Guthrie Center Area Development Corporation generated $70.5k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $26.0k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (9.4%) per year over the past 7 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
2021
Describe the Organization's Program Activity:
Part 3
DONATED TO MIDWEST PARTNERSHIP (A 501(C)(3) CORPORATION) TO HELP THEM WITH THE EXPENSES. THEY PROVIDE ECONOMIC DEVELOPMENT SERVICES TO OUR COMMUNITY.THE CORPORATION OWNED THREE COMMERCIAL BUILDINGS. ONE HOUSES DICA MANUFACTURING. THEY MANUFACTURE OUTRIGGER PADS. ONE BUILDING HOUSES A NONPROFIT CORPORATION THAT PROVIDES COMMUNITY LIVING SUPPORT SERVICES TO MENTALLY DISABLED ADULTS. THE THIRD BUILDING HAS AN ART GIFT SHOP WITH CONSIGNMENTS FROM AREA ARTISTS DISPLAYING AND SELLING THEIR WORK. THEY ALSO HAVE A SMALL COFFEE AND DESSERT SHOP. DURING 2021 THE CORPORATION SOLD THE BUILDING HOUSING THE NONPROFIT CORPORATION THAT PROVIDES COMMUNITY LIVING SUPPORT SERVES. THAT COMPANY MOVED TO A NEW LOCATION ABOUT 2 BLOCKS AWAY. THE BUILDING WAS SOLD TO A BUSINESS GROUP THAT IS BUILDING A NEW MEAT PROCESSING LOCKER. BUILDING STARTED IN 2021 AND THEY PLAN TO OPEN THEIR NEW BUSINESS IN THE SUMMER OF 2022.THE CORPORATION HAS A REVOLVING LOAN FUND THAT IS LOANED OUT TO THE BUSINESSES REQUESTING A LOAN. THE LOAN CANNOT EXCEED 50% OF THE PROJECT OR $5,000. THESE LOANS ARE NO INTEREST LOANS THAT MUST BE PAID BACK WITHIN THREE YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Rutledge Vice President | 2 | $0 | |
Dennis Flanery President | 3 | $0 | |
Barry Monaghan Director | 1 | $0 | |
Lisa A Calvert Secretary/treas | 2 | $0 | |
Jim Laughery Director | 1 | $0 | |
Jennifer Policky Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,100 |
| Total Program Service Revenue | $32,050 |
| Membership dues | $0 |
| Investment income | $7 |
| Gain or Loss | $28,307 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $70,464 |
| 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 | $300 |
| Occupancy, rent, utilities, and maintenance | $4,831 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $20,884 |
| Total expenses | $26,015 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $56,781 |
| Other assets | $0 |
| Total assets | $318,818 |
| Total liabilities | $73,233 |
| Net assets or fund balances | $245,585 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |
Brighton Park Neighborhood Council Chicago, IL | $4,048,275 | $8,262,492 |
Explore Branson Tourism Branson, MO | $1,396,845 | $7,616,014 |
Mhub Chicago, IL | $5,077,327 | $6,781,086 |
Great Plains Institute For Sustainable Development Minneapolis, MN | $9,896,004 | $8,891,636 |
Minneapolis - St Paul Regional Economic Development Partnership Saint Paul, MN | $5,371,081 | $6,502,146 |
Chicago Neighborhood Initiatives Inc Chicago, IL | $28,044,875 | $6,086,031 |
Omaha Economic Development Corp Omaha, NE | $18,549,776 | $6,962,293 |
Madison Development Corporation Madison, WI | $34,294,523 | $5,181,232 |
Economic Development Corporation Of Kansas City Missouri Kansas City, MO | $4,885,634 | $3,918,676 |