Henry County Industrial Development Corporation
- Assets
- $322.9k
- Revenue
- -$111.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Mt Pleasant, IA
- Founding
- 04/1961
- Data as of
- 12/2021
- EIN
- 42-6075845
Organization Overview
Henry County Industrial Development Corporation is located in Mt Pleasant, IA. The organization was established in 1961. 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. Henry County Industrial Development Corporation 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 12/2021, Henry County Industrial Development Corporation generated -$111.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (15.6%) each year. All expenses for the organization totaled $27.8k during the year ending 12/2021. 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
TO IMPROVE THE QUALITY OF LIFE FOR THE RESIDENTS OF HENRY COUNTY, IOWA THROUGH ECONOMIC GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO IMPROVE THE QUALITY OF LIFE FOR THE RESIDENTS OF HENRY COUNTY, IOWA THROUGH ECONOMIC GROWTH. HCIDC HAS IN THE PAST DECADE FACILITATED THE DEVELOPMENT OF TWO MAJOR MANUFACTURING OPERATIONS IN CROSSROADS INDUSTRIAL PARK, WEST LIBERTY FOODS/MILLARD REFRIGERATED SERVICES AND FLUORO-SEAL, THAT REPRESENT MORE THAN $6.9 MILLION TAXABLE VALUATION AND 500+ JOBS. HCIDC COMPLETED CONSTRUCTION OF A THIRD SPECULATIVE SHELL BUILDING IN 2009, WHICH WAS SOLD DURING 2015. THE PRESENCE OF THE SHELL BUILDING WAS A VITAL FIRST STEP IN CONVINCING GOLDEN EAGLE DISTRIBUTING CO. TO CONSIDER MOUNT PLEASANT FOR A NEW LOCATION THAT ULTIMATELY WAS CONSTRUCTED JUST A QUARTER OF A MILE AWAY. THAT PROPERTY NOW HAS A TAXABLE VALUATION OF $7.6 MILLION. FINALLY, HCIDC, WORKING THROUGH ITS AFFILIATE, THE MOUNT PLEASANT AREA DEVELOPMENT COMMISSION, MAINTAINS PROGRAMS IN BUSINESS ATTRACTION, BUSINESS RETENTION & EXPANSION, ENTREPRENEURIAL SUPPORT, EDUCATION, AND COMMUNITY DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carla Mcnamee Vice President | OfficerTrustee | 0 | $0 |
Michael Patten President | OfficerTrustee | 0 | $0 |
Kristi Perry Exec Director/secretary | Officer | 0 | $0 |
Steve Brimhall Director | Trustee | 0 | $0 |
Terry Mcwilliams Director | Trustee | 0 | $0 |
Robert Meyer Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $610 |
| 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 | -$112,090 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$111,449 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,000 |
| 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 | $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 | $1,660 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,104 |
| Travel | $0 |
| 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 | $955 |
| All other expenses | $37 |
| Total functional expenses | $27,756 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $159,259 |
| Savings and temporary cash investments | $163,601 |
| 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 | $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 | $322,860 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $322,860 |
| 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 | $322,860 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Henry County Industrial Development Corporation has recieved totaling $20,000.
| Awarding Organization | Amount |
|---|---|
Mt Pleasant Chamber Of Commerce Mt Pleasant, IA PURPOSE: ECONOMIC INCENTIVES | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lakes And Pines Community Action Council Inc Mora, MN | $3,434,723 | $9,795,071 |
Community Action Inc Of Rock And Walworth Counties Beloit, WI | $10,640,793 | $9,364,558 |
Health Care Coalition Of Lafayette County Lexington, MO | $6,605,075 | $10,749,967 |
Southwest Organizing Project Chicago, IL | $8,393,250 | $8,859,182 |
Better Family Life Inc Saint Louis, MO | $13,300,452 | $8,576,793 |
Center For People In Need Inc Lincoln, NE | $4,396,742 | $7,753,507 |
Kootasca Community Action Inc Grand Rapids, MN | $3,733,183 | $8,667,071 |
Impact Seven Incorporated Rice Lake, WI | $149,638,063 | $17,926,158 |
North Central Community Action Program Inc wisconsin rapids, WI | $2,366,497 | $7,790,312 |
St Paul Auto Dealers And District 77 Lodge Iamaw Joint Fund Bloomington, MN | $6,441,158 | $6,840,517 |
Cortex St Louis, MO | $86,543,841 | $5,279,863 |
Chicago Community Loan Fund Chicago, IL | $136,728,558 | $16,943,178 |