Mills County Economic Development Foundation Inc
- Assets
- $384.4k
- Revenue
- $289.3k
- Investments
- $0.0
- Employees
- 1
- Location
- Glenwood, IA
- Founding
- 00/0000
- Data as of
- 12/2021
- EIN
- 42-1301658
Organization Overview
Mills County Economic Development Foundation Inc is located in Glenwood, IA. The organization was established in 0000. 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. Mills County Economic Development Foundation Inc 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, Mills County Economic Development Foundation Inc generated $289.3k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $244.4k during the year ending 12/2021. While expenses have increased by 1.5% per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MILLS COUNTY ECONOMIC DEVELOPMENT FOUNDATION, INC. (MCEDF) WILL CONDUCT ITS ACTIVITIES TO PROMOTE THE PURPOSES FOR WHICH IT WAS ORGANIZED AS SET FORTH IN THE ARTICLES OF INCORPORATION. THE ORGANIZATION WILL BE UNDER THE GUIDANCE OF THE MILLS COUNTY BOARD OF SUPERVISORS (MCBOS). ADDITIONALLY, THE PURPOSE OF THE FOUNDATION IS TO EFFECTIVELY ADVANCE A FOCUSED ECONOMIC DEVELOPMENT GROWTH AGENDA TO ENHANCE, POSITION AND MARKET MILLS COUNTY AS A PREFERRED BUSINESS LOCATION. OUR GOAL IS TO ADVANCE THE INTEREST OF MILLS COUNTY AND IMPROVE BUSINESS CLIMATE AND ECONOMIC CONDITIONS. OUR AGENDA FOR GROWTH WILL LEAD TO THE RETENTION AND EXPANSION OF EXISTING FIRMS, THE ATTRACTION AND STARTUP OF HIGH VALUE FIRMS AND LONG TERM GROWTH AND VITALITY OF THE COUNTY. THIS WILL BE ACCOMPLISHED IN COLLABORATION AND COOPERATION WITH OUR PUBLIC AND PRIVATE PARTNERS WITHIN THE COUNTY, REGION, AND STATE. NO PART OF THE NET EARNINGS OF THE FOUNDATION SHALL INURE TO THE BENEFIT OF OR BE DISTRIBUTABLE TO ITS DI
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP AND LAUNCH WEBSITE AND SOCIAL MEDIA PLATFORMS MARKETING MILLS COUNTY
CONTINUOUSLY BUILD EDUCATION AND RELATIONSHIPS WITH PROSPECTS, SITE SELECTORS, UTILITY PARTNERS AND OTHER PROFESSIONALS IN THE ECONOMIC DEVELOPMENT INDUSTRY.
DEVELOP COMPREHENSIVE AND STRATEGIC PLANS, CONDUCT STUDIES TO PROVIDE DESIRED DATA TO PROSPECTS
OBTAIN SITE OPTIONS AND COMPLETE DUE DILIGENCE TO WORK TOWARDS SHOVEL READY DEVELOPMENT SITES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alan Debolt Director | Trustee | $0 | |
Devin Embray Secretary | OfficerTrustee | $0 | |
Jodi Evans Director | Trustee | $0 | |
Mary Gunderson Director | Trustee | $0 | |
Jodi Hilsabeck Vice Preside | OfficerTrustee | $0 | |
Al Hughes Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $272,500 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $289,150 |
| Total Program Service Revenue | $0 |
| Investment income | $199 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $289,349 |
| 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 | $100,101 |
| Pension plan accruals and contributions | $15,105 |
| Other employee benefits | $6,718 |
| Payroll taxes | $7,932 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $2,404 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,141 |
| Office expenses | $1,059 |
| Information technology | $17,723 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $256 |
| 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 | $1,238 |
| All other expenses | $500 |
| Total functional expenses | $244,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $183,676 |
| Savings and temporary cash investments | $195,130 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,550 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $384,356 |
| Accounts payable and accrued expenses | $12,390 |
| 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 | $12,390 |
| Net assets without donor restrictions | $371,966 |
| 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 | $384,356 |