Mid Iowa Development Fund Inc
- Assets
- $544.3k
- Revenue
- $12.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Polk City, IA
- Founding
- 11/1995
- Data as of
- 09/2019
- EIN
- 42-1437567
Organization Overview
Mid Iowa Development Fund Inc is located in Polk City, IA. The organization was established in 1995. According to its NTEE Classification (S43) the organization is classified as: Small Business 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. Mid Iowa Development Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2019
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER THE ECONOMIC DEVELOPMENT OF THE REGION COMPRISED OF THE IOWA COUNTIES OF BOONE, DALLAS, JASPER, MARION, POLK, STORY AND WARREN, AS WELL AS THE CITIES LOCATED THEREIN.TO PROMOTE AND ASSIST THE GROWTH AND DEVELOPMENT OF BUSINESS CONCERNS, INCLUDING SMALL AND MEDIUM SIZED BUSINESS CONCERNS IN SAID AREA.TO STIMULATE BUSINESS OPPORTUNITIES AND DEVELOPMENT IN SAID AREA AS MEASURED BY INCREASED EMPLOYMENT, PAYROLLS, BUSINESS VOLUME AND CORRESPONDING COMMUNITY BENEFITS, AS OPPOSED TO MONETARY BENEFITS TO THE MEMBERS OF THIS CORPORATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANING FUNDS FOR ECONOMIC DEVELOPMENT
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linda Wunsch Executive Director | Officer | 20 | $24,000 |
Clyde Evans Director | Trustee | 1 | $0 |
Steve Van Oort Director | Trustee | 1 | $0 |
Brad Golightly Director | Trustee | 1 | $0 |
Troy Boelman Director | Trustee | 1 | $0 |
Marc Meyer Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $0 |
| 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 | $12,873 |
| Statement of Expenses | |
|---|---|
| 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 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,000 |
| 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 | $635 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $25,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $384,861 |
| Savings and temporary cash investments | $0 |
| 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 | $159,410 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $544,271 |
| Accounts payable and accrued expenses | $12,280 |
| 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 | $12,280 |
| Net assets without donor restrictions | $64,160 |
| Net assets with donor restrictions | $467,831 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $531,991 |
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