Worth County Development Authority
- Assets
- $8.2m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Northwood, IA
- Founding
- 07/2006
- Data as of
- 12/2022
- EIN
- 91-2198028
Organization Overview
Worth County Development Authority is located in Northwood, IA. The organization was established in 2006. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Worth County Development Authority employed 3 individuals. This organization is the central organization for a national or regional group of organizations. Worth County Development Authority 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 12/2022, Worth County Development Authority generated $6.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $6.5m during the year ending 12/2022. While expenses have increased by 3.2% per year over the past 8 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.
Since 2015, Worth County Development Authority has awarded 38 individual grants totaling $39,746,225. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FOR AND ADMINISTER THE COMMUNITY PORTION OF GAMING REVENUE FOR THE DEVELOPMENT OF WORTH COUNTY, IOWA, IN ACCORDANCE WITH IOWA CODE SECTION 99F.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ESTABLISH PROCEDURES AND IMPLEMENT GRANTING PROCESS TO THE COMMUNITY AS REQUIRED UNDER IOWA CODE SECTION 99F.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Hanson CFO | Trustee | 40 | $98,642 |
Barry Anonson Board Member | OfficerTrustee | $0 | |
Phil Hackbart Board Member | OfficerTrustee | $0 | |
Kim Hengesteg Board Member | OfficerTrustee | $0 | |
Curtis Schaub Board Member | OfficerTrustee | $0 | |
Dean Hendrikson Board Member | OfficerTrustee | $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 | $6,078,341 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,078,341 |
| Total Program Service Revenue | $0 |
| Investment income | $79,343 |
| 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 | $6,157,684 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,342,202 |
| 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. | $115,442 |
| Compensation of current officers, directors, key employees. | $10,373 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,241 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,408 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,769 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,997 |
| Office expenses | $6,505 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $3,354 |
| Travel | $1,814 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,216 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,687 |
| Insurance | $4,818 |
| All other expenses | $20 |
| Total functional expenses | $6,536,376 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,166,866 |
| 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 | $73,883 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,240,749 |
| Accounts payable and accrued expenses | $3,814 |
| 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 | $3,814 |
| Net assets without donor restrictions | $0 |
| 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 | $8,236,935 |
| Total liabilities and net assets/fund balances | $8,240,749 |
Grants Awarded
Over the last fiscal year, Worth County Development Authority has awarded $6,342,202 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
WCDA & TRUSTEE AWARDED GRANTS PURPOSE: AWARDED BASED ON APP | $2,662,606 |
EDUCATION & SCHOLARSHIP GRANTS PURPOSE: TO BENEFIT THE STUDE | $2,282,459 |
SPECIAL PROJECTS GRANTS PURPOSE: TO BENEFIT THE SURRO | $1,015,862 |
GRANTS TO WORTH COUNTY PURPOSE: TO BENEFIT THE CITIZ | $354,275 |
INTEREST FUNDS GRANTS PURPOSE: TO PROVIDE ASSISTANC | $27,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Quad Cities Golf Classic Charitable Foundation East Moline, IL | $5,926,812 | $12,981,935 |
Jewel Nail Bomar Trust 8336230300 Chicago, IL | $101,133,335 | $15,350,534 |
Pious Projects Of America Bridgeview, IL | $2,395,968 | $8,177,090 |
William R Orthwein Jr And Laura Rand Orthwein Foundation Inc St Louis, MO | $73,594,056 | $14,006,042 |
Worth County Development Authority Northwood, IA | $8,240,749 | $6,157,684 |
Constellation Fund Minneapolis, MN | $8,581,079 | $5,161,859 |
Wayfarer Foundation Highland Park, IL | $333,654 | $4,731,977 |
Washington County Riverboat Foundation Washington, IA | $2,209,057 | $4,844,569 |
Catholic United Financial Foundation St Paul, MN | $37,486,034 | $6,021,022 |
Seeds Of Change Foundation Sioux Falls, SD | $998,757 | $2,484,573 |
Royals Charities Inc Kansas City, MO | $948,636 | $2,777,032 |
Fond Du Lac Area Foundation Fond Du Lac, WI | $72,661,560 | $12,050,578 |