2025-11-17T12:49:59-06:00 2024-12-31 450250958 EIDE BAILLY LLP 800 NICOLLET MALL STE 1300 MINNEAPOLIS MN 554027033 990 2024-01-01 474344802 IEC HOTEL CORPORATION IECH 5152225201 5000 WESTOWN PARKWAY STE 400 WEST DES MOINES IA 50266 GERARD D NEUGENT PRESIDENT 5152225201 2025-11-14 1 0 DEB NELSON CPA P01264758 6122536500 2025-11-10 2024 2025-03-06 01:10:19Z GERARD D NEUGENT 5000 WESTOWN PARKWAY STE 400 WEST DES MOINES IA 50266 23648401 0 X N/A X 2015 IA AQUISITION AND OPERATION OF A CONVENTION CENTER HOTEL FOR THE BENEFIT OF POLK COUNTY, IOWA. 7 7 0 7 0 0 1887220 1887180 21782834 21311257 456691 338839 0 0 24126745 23537276 0 0 0 0 0 0 0 0 0 22753691 24010420 22753691 24010420 1373054 -473144 103029520 95935817 97932849 93440802 5096671 2495015 THE CORPORATION HAS BEEN FORMED TO FACILITATE THE ACQUISITION AND OPERATION OF A CONVENTION CENTER HOTEL FOR THE BENEFIT OF POLK COUNTY, IOWA. 0 0 15643935 21311257 THE CORPORATION MANAGED THE CONSTRUCTION AND ACQUISITION OF A CONVENTION CENTER HOTEL ADJACENT TO THE IOWA EVENTS CENTER IN DES MOINES, IOWA. THE ORGANIZATION HAS MANAGED THE OPERATIONS OF THE HOTEL SINCE IT OPENED IN MARCH 2018. 15643935 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 1 0 0 0 1 1 1 0 0 0 0 1 1 1 1 1 0 0 0 X WAYNE REAMES 5152834660 666 WALNUT STREET SUITE 2000 DES MOINES IA 50309 X GERARD D NEUGENT PRESIDENT 5.00 X X 0 0 0 MICHAEL GALLOWAY VICE PRESIDENT 2.50 X X 0 0 0 ALLEN MCKINLEY TREASURER 2.50 X X 0 0 0 ADAM KADUCE SECRETARY 2.50 X X 0 0 0 GRANT FRIESTH DIRECTOR 2.50 X 0 0 0 ANNETTE RENAUD DIRECTOR 2.50 X 0 0 0 MARK WANDRO DIRECTOR 2.50 X 0 0 0 0 0 0 0 0 0 0 HILTON MANAGEMENT LLC 7930 JONES BRANCH DR MCLEAN VA 22102 HOTEL MANAGEMENT 1254371 TOWNE PARK LLC PO BOX 79349 BALTIMORE MD 212790349 VALET/SHUTTLE SERVICES 591760 GENESIS LAUNDRY 1805 W 2ND AVE INDIANOLA IA 501252145 LAUNDRY SERVICES 562081 ENCORE GROUP (USA) LLC 23918 NETWORK PLACE CHICAGO IL 606731239 AV SERVICES 301606 XCLUSIVE SERVICES LLC DEPT 915 PO BOX 4458 HOUSTON TX 77210 LEASED LABOR 199132 10 1687180 200000 1887180 HOTEL OPERATIONS 721110 19224696 19224696 IOWA REINVESTMENT ACT 721110 1591236 1591236 FACILITY OPERATOR FEE 721110 495325 495325 21311257 449964 449964 111125 -111125 -111125 -111125 23537276 21311257 0 338839 1444143 1254371 189772 13962 13962 2378542 2378542 404029 404029 1441844 1441844 3222538 3222538 3470691 3470691 340169 332526 7643 HOTEL OPERATIONS 6717428 6717428 ADMINISTRATIVE & GENERA 3116800 3115195 1605 CITY IRA PAYMENTS 1089000 1089000 DISTRIBUTION TO OPERATO 284156 284156 87118 87118 24010420 15643935 8366485 0 14666230 14353995 1255349 1198075 63526 61701 328700 471149 102331870 23192821 85898129 79139049 817586 711848 103029520 95935817 3963886 4418795 676807 494815 78736200 75290158 14555956 13237034 97932849 93440802 X -3434472 -6278303 8531143 8773318 5096671 2495015 103029520 95935817 X -473144 -105739 -2022773 X 0 1 X 1 0 X 755000 3592955 1935426 1887220 1887180 10057781 755000 3592955 1935426 1887220 1887180 10057781 777940 9279841 20720 2332 115535 456691 449964 1045242 11103023 43094091 0.83580 0.85810 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 101867726 23060404 78807322 255482 45396 210086 208662 87021 121641 79139049 DUE TO POLK COUNTY 11466412 DUE TO MANAGER 1650000 LEASE LIABILITY 120622 13237034 23431537 -105739 -105739 23537276 0 23537276 24010420 0 24010420 0 24010420 A IEC HOTEL CORPORATION 474344802 000000000 2018-03-21 67750000 HOTEL ACQUISITION 0 1 0 B IEC HOTEL CORPORATION 474344802 000000000 2018-03-21 7351000 HOTEL ACQUISITION 0 1 0 C IEC HOTEL CORPORATION 474344802 000000000 2018-03-21 16305000 HOTEL ACQUISITION 0 1 0 A 15233845 67750000 2894109 1649629 63156262 50000 2018 0 0 1 1 B 882000 7351000 625229 380530 6345241 2018 0 0 1 1 C 16305000 1557404 380575 14367021 2018 0 0 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 C 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 1 1 PNC NA 0 0 0 0 1 B 0 0 0 1 1 1 PNC NA 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: IEC HOTEL CORPORATION DATE THE REBATE COMPUTATION WAS PERFORMED: 03/10/2023 ISSUER NAME: IEC HOTEL CORPORATION DATE THE REBATE COMPUTATION WAS PERFORMED: 03/10/2023 ISSUER NAME: IEC HOTEL CORPORATION DATE THE REBATE COMPUTATION WAS PERFORMED: 03/10/2023 SCHEDULE K, PART IV, ARBITRAGE, LINE 4A: $30,000,000 OF THE BOND A ISSUANCE PROCEEDS IS AN OUTSTANDING INTEREST RATE SWAP HEDGING DERIVATIVE INSTRUMENT. FORM 990, PART VI, SECTION A, LINE 3 THE ORGANIZATION ENTERED INTO A QUALIFIED MANAGEMENT AGREEMENT WITH HILTON MANAGEMENT LLC TO MANAGE THE OPERATIONS OF THE CONVENTION CENTER HOTEL. FORM 990, PART VI, SECTION A, LINE 7A UP TO FIVE DIRECTORS SHALL BE APPOINTED BY, AND SERVE AT THE PLEASURE OF, POLK COUNTY, IOWA, AND UP TO TWO DIRECTORS SHALL BE APPOINTED BY, AND SERVE AT THE PLEASURE OF, THE CITY OF DES MOINES, IOWA, PROVIDED, HOWEVER, THAT SUCH CITY-APPOINTED DIRECTORS SHALL ALSO BE SUBJECT TO THE APPROVAL OF POLK COUNTY, IOWA. THE COUNTY SHALL HAVE THE POWER, EXERCISABLE UPON PETITION AND ORDER OF THE IOWA DISTRICT COURT, TO REMOVE ANY DIRECTOR FOR CAUSE AND APPOINT SUCH DIRECTOR'S SUCCESSOR. FORM 990, PART VI, SECTION A, LINE 7B TO BE EFFECTIVE, THE AMENDMENT OF THE BYLAWS REQUIRES THE CONSENT OF POLK COUNTY, IOWA. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH BROAD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B A COPY OF THE RETURN IS PROVIDED TO THE PRESIDENT AND LEGAL TO REVIEW PRIOR TO FILING THE RETURN. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S CONFLICT OF INTEREST POLICY APPLIES TO ALL DIRECTORS. INDIVIDUALS MUST DISCLOSE ANY INTERESTS THAT COULD RESULT IN A CONFLICT. IF A POTENTIAL CONFLICT EXISTS, THE INTERESTED PERSON LEAVES THE BOARD OR COMMITTEE MEETING WHILE THE REMAINING MEMBERS DISCUSS AND VOTE ON WHETHER A CONFLICT OF INTEREST EXISTS. IF A CONFLICT IS DETERMINED, THE INTERESTED PERSON MAY MAKE A PRESENTATION REGARDING THE PROPOSED TRANSACTION OR ARRANGEMENT BUT MUST LEAVE THE MEETING DURING THE DISCUSSION AND VOTE ON THE MATTER. THE CHAIR MAY APPOINT A DISINTERESTED PARTY TO EXPLORE ALTERNATIVES. AFTER DUE DILIGENCE, THE DISINTERESTED MEMBERS DECIDE IF THE TRANSACTION IS IN THE ORGANIZATION'S BEST INTEREST, FAIR, AND REASONABLE BEFORE PROCEEDING. FORM 990, PART VI, SECTION B, LINE 15 DIRECTORS AND OFFICERS SERVE WITHOUT COMPENSATION. THERE ARE CURRENTLY NO OTHER EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: PRIOR PERIOD ADJUSTMENT - RESTATEMENT OF BEGINNING BALANCES -2,022,773. POLK COUNTY IOWA 111 COURT AVENUE DES MOINES IA 50309 426004519 GOVERNMENT IA N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0