IOWA DEVELOPMENT CORPORATION: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- IOWA DEVELOPMENT CORPORATION (EIN 26-2000451)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-05-14
- IRS object ID
- 201341349349303504
- Schema version
- 2012v2.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-05-14T11:38:18-07:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Tarbell & Co PLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2130 Grand Avenue | AddressLine1 |
| City | Des Moines | City |
| State | IA | State |
| ZIP Code | 503125302 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 262000451 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IOWA DEVELOPMENT CORPORATION | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | IOWA | NameControl |
| Phone | 5152234511 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5409 NW 88TH STREET | AddressLine1 |
| City | JOHNSTON | City |
| State | IA | State |
| ZIP Code | 50131 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DANIEL T ROBESON | Name |
| Title | Executive Dir. | Title |
| Date Signed | 2013-05-13 | DateSigned |
| Authorize Third Party | true | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | Tim Tarbell CPA | Name |
| PTIN | P00822323 | PTIN |
| Phone | 5152820200 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DANIEL T ROBESON | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5409 NW 88TH STREET STE 100 | AddressLine1 |
| City | JOHNSTON | City |
| State | IA | State |
| ZIP Code | 50131 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 1651594 | GrossReceipts |
| Group Return For Affiliates | false | GroupReturnForAffiliates |
| All Affiliates Included | false | AllAffiliatesIncluded |
| Organization501c | X | Organization501c |
| Web Site | N/A | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2003 | YearFormation |
| State Legal Domicile | IA | StateLegalDomicile |
| Activity Or Mission Description | TO SERVE AS A MANAGING MEMBER OF A COMMUNITY DEVELOPMENT ENTITY ORGANIZED TO PROVIDE INVESTMENT CAPITAL TO LOW-INCOME COMMUNITIES OR LOW-INCOME PERSONS WITHIN THE STATE OF IOWA PURSUANT TO THE COMMUNITY RENEWAL TAX RELIEF ACT OF 2000. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 6 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 6 | NbrIndependentVotingMembers |
| Total Nbr Employees | 0 | TotalNbrEmployees |
| Total Nbr Volunteers | 6 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Current Year | 0 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 1679834 | OtherRevenuePriorYear |
| Other Revenue Current Year | 1651594 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 1679834 | TotalRevenuePriorYear |
| Total Revenue Current Year | 1651594 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Current Year | 0 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 1373431 | OtherExpensePriorYear |
| Other Expenses Current Year | 1465166 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 1373431 | TotalExpensesPriorYear |
| Total Expenses Current Year | 1465166 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 306403 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 186428 | RevenuesLessExpensesCY |
| Total Assets BOY | 691677 | TotalAssetsBOY |
| Total Assets EOY | 895868 | TotalAssetsEOY |
| Total Liabilities EOY | 0 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 691677 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 895868 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO SERVE AS A MANAGING MEMBER OF A COMMUNITY DEVELOPMENT ENTITY ORGANIZED TO PROVIDE INVESTMENT CAPITAL TO LOW-INCOME COMMUNITIES OR LOW-INCOME PERSONS WITHIN THE STATE OF IOWA PURSUANT TO THE COMMUNITY RENEWAL TAX RELIEF ACT OF 2000. | MissionDescription |
| Significant New Program Services | false | SignificantNewProgramServices |
| Significant Change | false | SignificantChange |
| Expense | 1465166 | Expense |
| Revenue | 1651594 | Revenue |
| Description | IOWA DEVELOPMENT CORPORATION (IDC) OWNS A 99% INTEREST IN IOWA COMMUNITY DEVELOPMENT, LC (ICD). ICD SERVES AS A MANAGING MEMBER OF SEVERAL COMMUNITY DEVELOPMENT ENTITIES. ICD RECEIVES COMPENSATION TO ALLOW FOR PAYMENTS OF LEGAL FEES AND THIRD PARTY OVERSIGHT OF THE ENTITY. ICD'S PURPOSE IS TO SECURE AND DISTRIBUTE ALLOCATIONS OF NEW MARKET TAX CREDITS FROM THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, DEPARTMENT OF TREASURY, AND, THEREBY, PROMOTE INVESTMENT INTO OPERATING BUSINESSES AND REAL ESTATE PROJECTS LOCATED IN LOW-INCOME COMMUNITIES. PROJECTS ARE AS FOLLOWS:$134 MILLION OF NEW MARKET TAX CREDIT ALLOCATIONS HAVE BEEN DEPLOYED IN LOW INCOME COMMUNITIES IN IOWA BY THE END OF 2012 FOR THE FOLLOWING PROJECTS:ICD III, LLC - $9 MILLION TO RIVER POINT WEST, DES MOINES, IOWA, A MIXED-USE DEVELOPMENT PLANNED TO INCLUDE 500 HOUSING UNITS, 200,000 SQUARE FEET OF RETAIL SPACE AND 500,000 SQUARE FEET OF COMMERCIAL SPACE.ICD IV, LLC - $7 MILLION TO VILLAGE PLACE, DES MOINES, IOWA, A MIXED-USE DEVELOPMENT WHICH HAS SPARKED ADDITIONAL DEVELOPMENT IN DES MOINES' HISTORIC EAST VILLAGE.ICD I, LLC - $9.5 MILLION TO ADLER THEATER, DAVENPORT, IOWA, THE RENOVATION OF A HISTORIC THEATER IN A HIGHLY DISTRESSED CENSUS TRACT.ICD II, LLC - $10 MILLION TO NORTHWEST AIRLINES CALL CENTER, SIOUX CITY, IOWA, A PROJECT INTENDED TO CREATE OVER 200 JOBS AND STIMULATE DEVELOPMENT IN A DISTRESSED CENSUS TRACT.ICD VI, LLC - $5.75 MILLION TO SUPPORT A PROJECT INVOLVING THE CONSTRUCTION OF A GREEN HEADQUARTERS BUILDING FOR CAMBRIDGE INVESTMENT GROUP, A LEADING INDEPENDENT BROKER/DEALER WITH OVER 250 EMPLOYEES IN THE FAIRFIELD, IOWA AREA.ICD VII, LLC - $3.75 MILLION TO SUPPORT A PROJECT INVOLVING THE RENOVATION OF THE JULIEN HOTEL, DUBUQUE, IOWA, A 135,000 SQUARE FOOT HISTORICAL HOTEL IN A HIGHLY DISTRESSED CENSUS TRACT.ICD VIII, LLC - $10 MILLION TO SUPPORT THE RENOVATION OF THE HISTORIC ROSHEK BUILDING IN DUBUQUE, IOWA. THE RENOVATION WAS SUCCESSFUL IN ATTRACTING AN IBM OFFICE WHICH PROVIDED 1,300 JOBS TO A HIGHLY DISTRESSED CENSUS TRACT.ICD IX, LLC - $10 MILLION TO SUPPORT THE RENOVATION AND REHABILITATION OF TWO HISTORIC FRANK LLOYD WRIGHT DESIGNED COMMERCIAL BUILDINGS LOCATED IN DOWNTOWN MASON CITY, IOWA, A NON-METRO OUT-MIGRATION TRACT. THE PROJECT IS EXPECTED TO CREATE 27 DIRECT JOBS AND HAVE A POSITIVE IMPACT ON TOURISM IN THE COMMUNITY.ICD X, LLC - $10 MILLION TO SUPPORT THE CONSTRUCTION OF AN EGG LAYING FACILITY LOCATED NEAR CORWITH IN HANCOCK COUNTY IOWA, A NON-METRO OUT-MIGRATION TRACT. THE PROJECT IS EXPECTED TO CREATE APPROXIMATELY 72 FULL-TIME JOBS. IN ADDITION, EACH BIRD HOUSED AT THE FACILITY WILL CONSUME ABOUT ONE BUSHEL OF CORN ANNUALLY, CREATING A PROJECTED 3 MILLION BUSHEL INCREASE IN LOCAL DEMAND FOR CORN.ICD XI, LLC - $10 MILLION TO SWIFT PORK COMPANY, MARSHALLTOWN, IOWA FOR A 130,000 SQUARE FOOT EXPANSION OF A PORK PROCESSING PLANT. THE PROJECT IS EXPECTED TO CREATE 30 NEW JOBS WITHIN A HIGHLY DISTRESSED CENSUS TRACT AND SETS THE STAGE FOR FURTHER EXPANSION AND JOB CREATION AT THE PLANT.ICD XII, LLC - $15 MILLION TO PHYSICIANS CLINIC OF IOWA, CEDAR RAPIDS. CONSTRUCTION OF A 205,425 SQUARE FOOT MEDICAL MALL IN A HIGHLY DISTRESSED CENSUS TRACT. IT IS ONE OF THE FIRST PRIVATE, FOR-PROFIT INVESTMENTS IN DOWNTOWN CEDAR RAPIDS SINCE A DEVASTATING FLOOD HIT THE AREA IN JUNE 2008. IT ALSO PROVIDES SPACE FOR VARIOUS MEDICAL SERVICES FOR LOW INCOME RESIDENTS AND THE POTENTIAL FOR 50 TO 100 NEW JOBS.ICD XIII, LLC - $10 MILLION TO PINNACLE FOODS, FT. MADISON, IOWA. CONSTRUCTION OF A 16,700 SQUARE FOOT EXPANSION AND INSTALLATION OF EQUIPMENT FOR FOOD PROCESSING AND PACKAGING. IT ALSO PROVIDES FOR THE UPDATING OF EXISTING MANUFACTURING SPACE. JOB CREATION IS 65 EMPLOYEES IN THIS RURAL COMMUNITY AND THE RETENTION OF THE EXISTING 430 EMPLOYEESICD V, LLC - $12 MILLION TO ASSIST WINEGARD COMPANY TO RENOVATE A 140,000 SQUARE FOOT BLIGHTED SHOPPING MALL AND TO EXPAND THEIR MANUFACTURING FACILITIES LOCATED IN A NON-METRO DISTRESSED CENSUS TRACT BY 55,000 SQUARE FEET. THE PROJECT IS EXPECTED TO CREATE 70 FULL-TIME EMPLOYEES CONSISTING OF ENGINEERS FOR RESEARCH, MARKETING AND TECHNICAL SERVICE PERSONNEL, MANUFACTURING SUPERVISORS, FACTORY OPERATORS, AND SHIPPING PERSONNEL.ICD XIV, LLC - $12 MILLION TO ASSIST FIVE HABITAT FOR HUMANITY AFFILIATES CONSTRUCT 94 HOMES ACROSS THE STATE OF IOWA. SOME OF THE HOMES ARE LOCATED IN NON-METRO AREAS AND ALL ARE TARGETED TO PROVIDE ASSISTANCE TO LOW INCOME RESIDENTS; TWELVE IOWA COUNTIES WERE IMPACTED. | Description |
| Total Program Service Expense | 1465166 | TotalProgramServiceExpense |
| Described In501 C3 | false | DescribedIn501C3 |
| Schedule B Required | false | ScheduleBRequired |
| Political Activities | false | PoliticalActivities |
| Lobbying Activities | false | LobbyingActivities |
| Subject To Proxy Tax | false | SubjectToProxyTax |
| Donor Advised Funds | false | DonorAdvisedFunds |
| Conservation Easements | false | ConservationEasements |
| Collections Of Art | false | CollectionsOfArt |
| Credit Counseling | false | CreditCounseling |
| Term Or Permanent Endowments | false | TermOrPermanentEndowments |
| Report Land Bldg Equip | false | ReportLandBldgEquip |
| Report Invest Oth Securities | false | ReportInvestOthSecurities |
| Report Prog Rel Invest | false | ReportProgRelInvest |
| Report Other Assets | true | ReportOtherAssets |
| Report Other Liabilities | false | ReportOtherLiabilities |
| Report Fin48 Footnote | false | ReportFin48Footnote |
| Independent Audit Financial Stmt | false | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | false | ConsolidatedAuditFinancialStmt |
| School | false | School |
| Foreign Office | false | ForeignOffice |
| Foreign Activities | false | ForeignActivities |
| More Than5000 K To Organizations | false | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | false | MoreThan5000KToIndividuals |
| Professional Fundraising | false | ProfessionalFundraising |
| Fundraising Activities | false | FundraisingActivities |
| Gaming | false | Gaming |
| Hospital | false | Hospital |
| Grants To Organizations | false | GrantsToOrganizations |
| Grants To Individuals | false | GrantsToIndividuals |
| Schedule J Required | false | ScheduleJRequired |
| Tax Exempt Bonds | false | TaxExemptBonds |
| Invest Tax Exempt Bonds | false | InvestTaxExemptBonds |
| Escrow Account | false | EscrowAccount |
| On Behalf Of Issuer | false | OnBehalfOfIssuer |
| Excess Benefit Transaction | false | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | false | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | false | LoanToOfficerOrDQP |
| Grant To Related Person | false | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | false | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | false | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | false | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | false | DeductibleNonCashContributions |
| Deductible Contributions Of Art | false | DeductibleContributionsOfArt |
| Terminated | false | Terminated |
| Partial Liquidation | false | PartialLiquidation |
| Disregarded Entity | false | DisregardedEntity |
| Related Entity | true | RelatedEntity |
| Related Org Controlled Entity | true | RelatedOrgControlledEntity |
| Transaction Related Entity | true | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | false | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | false | ActivitiesConductedPartnership |
| Schedule O Required | true | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | false | ComplianceWithBackupWitholding |
| Number Of Employees | 0 | NumberOfEmployees |
| Employment Tax Returns Filed | false | EmploymentTaxReturnsFiled |
| Unrelated Business Income | false | UnrelatedBusinessIncome |
| Form990-T Filed | false | Form990-TFiled |
| Foreign Financial Account | false | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | false | ProhibitedTaxShelterTrans |
| Taxable Party Notification | false | TaxablePartyNotification |
| Non Deductible Contributions | false | NonDeductibleContributions |
| Excess Business Holdings | false | ExcessBusinessHoldings |
| Taxable Distributions | false | TaxableDistributions |
| Distribution To Donor | false | DistributionToDonor |
| Filed Lieu1041 | false | FiledLieu1041 |
| Licensed More Than One State | false | LicensedMoreThanOneState |
| Indoor Tanning Services | false | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 6 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 6 | NumberIndependentVotingMembers |
| Family Or Business Relationship | false | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | false | DelegationOfManagementDuties |
| Changes To Organizing Docs | true | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | false | MaterialDiversionOrMisuse |
| Members Or Stockholders | false | MembersOrStockholders |
| Election Of Board Members | true | ElectionOfBoardMembers |
| Decisions Subject To Approval | false | DecisionsSubjectToApproval |
| Minutes Of Governing Body | true | MinutesOfGoverningBody |
| Minutes Of Committees | true | MinutesOfCommittees |
| Officer Mailing Address | true | OfficerMailingAddress |
| Local Chapters | false | LocalChapters |
| Form990 Provided To Governing Body | true | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | true | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | true | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | true | RegularMonitoringEnforcement |
| Whistleblower Policy | false | WhistleblowerPolicy |
| Document Retention Policy | false | DocumentRetentionPolicy |
| Compensation Process CEO | false | CompensationProcessCEO |
| Compensation Process Other | false | CompensationProcessOther |
| Investment In Joint Venture | true | InvestmentInJointVenture |
| Written Policy Or Procedure | false | WrittenPolicyOrProcedure |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | JIM DE PAUW | NamePerson |
| Telephone Number | 5152234511 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 5409 NW 88TH STREET | AddressLine1 |
| City | JOHNSTON | City |
| State | IA | State |
| ZIP Code | 50131 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | X | NoListedPersonsCompensated |
Form990 Part VII Section A Form990PartVIISectionA (6 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Average Hours Per Week RelatedAverageHoursPerWeekRelated | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer |
|---|---|---|---|---|---|---|---|
| RAND FISHER | |||||||
| Director | 1.00 | 0.00 | X | 0 | 0 | 0 | |
| DANIEL T ROBESON | |||||||
| Executive Dir. | 1.00 | 0.00 | X | 0 | 0 | 0 | X |
| BRUCE TAMISIEA | |||||||
| Secretary | 1.00 | 0.00 | X | 0 | 0 | 0 | X |
| JOHN SORENSEN | |||||||
| Treasurer | 1.00 | 0.00 | X | 0 | 0 | 0 | X |
| DENNIS MURDOCK | |||||||
| Vice President | 1.00 | 0.00 | X | 0 | 0 | 0 | X |
| JOHN RIGLER | |||||||
| President | 1.00 | 0.00 | X | 0 | 0 | 0 | X |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | false | FormersListed |
| Total Comp GT150 K | false | TotalCompGT150K |
| Compensation From Other Sources | false | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| Info In Schedule O Part VIII | X | InfoInScheduleOPartVIII |
| Total Contributions | 0 | TotalContributions |
| Total Program Service Revenue | 0 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Income From Invest Bond Proceeds IncomeFromInvestBondProceeds
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 0 | TotalRevenueColumn |
Other Revenue Misc OtherRevenueMisc (2 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ICD, LC (20-0183898) | |||
| PARTNERSHIP INCOME | 900099 | 1651594 | 1651594 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 1651594 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1651594 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1651594 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | X | InfoInScheduleOPartIX |
Grants To Domestic Orgs GrantsToDomesticOrgs
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Foreign Grants ForeignGrants
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Benefits To Members BenefitsToMembers
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Comp Disqual Persons CompDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Management FeesForServicesManagement
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Royalties Royalties
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Travel Entrtnmnt Public Officials TravelEntrtnmntPublicOfficials
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Payments To Affiliates PaymentsToAffiliates
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Other Expenses OtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | PARTNERSHIP EXPENSES | Description |
| Total | 1465166 | Total |
| Program Services | 1465166 | ProgramServices |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 0 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1465166 | Total |
| Program Services | 1465166 | ProgramServices |
| Management And General | 0 | ManagementAndGeneral |
| Fundraising | 0 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 214 | BOY |
| EOY | 0 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Receivables From Officers Etc ReceivablesFromOfficersEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Receivables From Disqual Persons ReceivablesFromDisqualPersons
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Investments Program Related InvestmentsProgramRelated
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Intangible Assets IntangibleAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 0 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 691463 | BOY |
| EOY | 895868 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 691677 | BOY |
| EOY | 895868 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 691677 | BOY |
| EOY | 895868 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 691677 | BOY |
| EOY | 895868 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 691677 | BOY |
| EOY | 895868 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 186428 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 17763 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | false | AccountantCompileOrReview |
| FS Audited | false | FSAudited |
| Federal Grant Audit Required | false | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Other Assets OtherAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | PARTNERSHIP - ICD, LC 20-0183898 | Description |
| Book Value | 895868 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | 895868 | TotalBookValueOtherAssets |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (11 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| FORM 990 CONSIDERATIONS | IOWA DEVELOPMENT CORPORATION'S (THE ORGANIZATION) ONLY ACTIVITY IS ACTING AS MANAGING MEMBER OF IOWA COMMUNITY DEVELOPMENT, LC (ICD, LC), A PARTNERSHIP IN WHICH THE ORGANIZATION OWNS A 99% INTEREST. THE HOLDER OF THE OTHER 1% INTEREST IN ICD, LC ALSO PROVIDES SERVICES UNDER A SEPARATE AGREEMENT TO ICD, LC. THE EXECUTIVE DIRECTOR OF THE ORGANIZATION IS ALSO EMPLOYED BY THE ENTITY HOLDING THE 1% INTEREST IN ICD, LC. DESPITE THE RELATIONSHIPS BETWEEN THESE PARTIES, EACH PARTY IS TREATED AS A SEPARATE AND DISTINCT ENTITY, BOTH LEGALLY AND FOR INCOME TAX REPORTING PURPOSES. ACCORDINGLY, THE ORGANIZATION HAS PREPARED THIS FORM 990 WITH RESPECT TO ITS OWN POLICIES, PROCEDURES, RELATIONSHIPS, AND TRANSACTIONS; SUCH ITEMS NOT INVOLVING THE ORGANIZATION AND RELATING TO PARTIES OTHER THAN THE ORGANIZATION HAVE NOT BEEN CONSIDERED IN THE PREPARATION OF THIS RETURN. | |
| FORM 990, PART VI, LINE 16B | IOWA DEVELOPMENT CORPORATION'S SOLE REASON FOR EXISTENCE IS TO MANAGE IOWA COMMUNITY DEVELOPMENT, LC. THE ORGANIZATION DOES NOT ANTICIPATE PARTICIPATING IN ADDITIONAL JOINT VENTURES OR SIMILAR ARRANGEMENTS IN THE FUTURE. AS A RESULT, A WRITTEN POLICY HAS NOT BEEN CONSIDERED NECESSARY. | |
| FORM 990, PART IX, LINE 24A | THE ORGANIZATION OWNS 99% OF IOWA COMMUNITY DEVELOPMENT, LC (ICD), WHICH OWNS AN INTEREST IN NUMEROUS OTHER LIMITED LIABILITY COMPANIES. ACCORDINGLY, THE ORGANIZATION IS REPORTING 99% OF ICD'S SHARE OF THE DEDUCTION ITEMS OF THE LIMITED LIABILITY COMPANIES AS FOLLOWS:BANK FEES 77BOARD MEETING EXPENSES 3,828MANAGEMENT FEE 1,402,500PORTFOLIO DEDUCTIONS FROM PASSTHROUGH ENTITIES 156PROFESSIONAL FEES 39,589PORTFOLIO AMORTIZATION 19,016TOTAL DEDUCTION ITEMS 1,465,166 | |
| FORM 990, PART VIII, LINE 11A | THE ORGANIZATION OWNS 99% OF IOWA COMMUNITY DEVELOPMENT, LC (ICD), WHICH OWNS AN INTEREST IN NUMEROUS OTHER LIMITED LIABILITY COMPANIES. ACCORDINGLY, THE ORGANIZATION IS REPORTING 99% OF ICD'S SHARE OF THE INCOME ITEMS OF THE LIMITED LIABILITY COMPANIES AS FOLLOWS:ORDINARY BUSINESS INCOME (LOSS) 24NET RENTAL REAL ESTATE INCOME (LOSS) (24)INTEREST INCOME 6,291ASSET MANAGEMENT FEE INCOME 1,164,900OTHER INCOME 5,198PORTFOLIO INCOME FROM PASSTHROUGH ENTITIES 5PLACEMENT FEE INCOME 475,200TOTAL INCOME ITEMS 1,651,594 | |
| FORM 990, PART VI, LINES 15A & 15B | THE ORGANIZATION PAID NO COMPENSATION; THEREFORE, COMPENSATION WAS NOT REQUIRED TO BE REVIEWED OR APPROVED. | |
| Other Changes In Net Assets Or Fund Balances - Other Increases | BOOK-TAX DIFFERENCES RELATED TO INVESTMENT IN ICD, LC = $17763 | Form 990, Part XI, Line 9 |
| Form 990, Part VI, Line 19: Other Organization Documents Publicly Available | THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. | Form 990, Part VI, Line 19 |
| Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts | IOWA DEVELOPMENT CORPORATION ADOPTED A CONFLICT OF INTEREST POLICY WHEREIN ISSUES OF POTENTIAL CONFLICT ARE ADDRESSED OPENLY AT MEETINGS OF THE BOARD OF DIRECTORS. | Form 990, Part VI, Line 12c |
| Form 990, Part VI, Line 11b: Form 990 Review Process | THE FORM 990 IS REVIEWED BY ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO ITS FILING. | Form 990, Part VI, Line 11b |
| Form 990, Part VI, Line 9: Officer, Director, Trustee, Key Employee Mailing Address | JOHN RIGLER, PRESIDENT313 N LINN, PO BOX 70NEW HAMPTON, IOWA 50659DENNIS MURDOCKC/O CENTRAL IOWA POWER COOPERATIVEPO BOX 2517CEDAR RAPIDS, IOWA 52406JOHN SORENSEN, TREASURER8800 NW 62ND AVEJOHNSTON, IOWA 50131BRUCE TAMISIEA, SECRETARYC/O TECTON IND., PO BOX 877SPENCER, IOWA 51301DANIEL T.ROBESON, EXECUTIVE DIRECTOR5409 88TH STREET, STE 100JOHNSTON, IOWA 50131RAND FISHER, DIRECTOR2700 WESTOWN PARKWAY, STE 425WEST DES MOINES, IOWA 50266 | Form 990, Part VI, Line 9 |
| Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents | THE ORGANIZATION'S BY-LAWS WERE AMENDED TO CHANGE THE PROCESS BY WHICH THE BOARD OF DIRECTORS ARE SELECTED. PREVIOUSLY, THE BOARD OF DIRECTORS WERE APPOINTED BY IOWA CAPITAL INVESTMENT CORPORATION. THE AMENDED BY-LAWS REQUIRE VACANCIES OF THE BOARD OF DIRECTORS TO BE FILLED BY AN ELECTION BY THE EXISTING MEMBERS OF THE BOARD. | Form 990, Part VI, Line 4 |
Schedule R IRS990ScheduleR
Form990 Schedule R Part II Form990ScheduleRPartII
Name Of Disregarded Entity NameOfDisregardedEntity
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | IOWA CAPITAL INVESTMENT CORPORATION | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | DAVIS BROWN TOWER 215 10TH ST | AddressLine1 |
| City | DES MOINES | City |
| State | IA | State |
| ZIP Code | 50309 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 371452496 | EIN |
| Primary Activities | GENERAL PARTNER, IOWA FUND OF FUNDS | PrimaryActivities |
| Legal Domicile State | IA | LegalDomicileState |
| Exempt Code Section | 501(C)(3) | ExemptCodeSection |
| Public Charity Status | 509(A)(3), TYPE I | PublicCharityStatus |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | NA | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Org | false | ControlledOrg |
Form990 Schedule R Part III Form990ScheduleRPartIII (16 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Predominant Income TypePredominantIncomeType | Disproportionate AllocationsDisproportionateAllocations | General Or Managing PartnerGeneralOrManagingPartner | Percentage OwnershipPercentageOwnership | Share Of Total IncomeShareOfTotalIncome | Share Of EOY AssetsShareOfEOYAssets |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ICD XIV LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205428822 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD V LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205424841 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| IFOF FUND A LLLP | |||||||||||||
| 2600 GRAND AVE STE 410 | DES MOINES | IA | 50312 | 200409196 | VENTURE INVESTMENTS | IA | ICIC | RELATED | false | false | |||
| ICD XIII LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205428799 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD XII LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205428783 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD XI LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205428767 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD X LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205425033 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD IX LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205425014 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD VIII LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205424986 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD VII LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205424969 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD VI LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205424948 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD IV LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205424815 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD III LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205424790 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD II LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205424772 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD I LLC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 205424727 | INVESTMENT/LENDING | IA | ICD LC | RELATED | false | false | 0.00010 | ||
| ICD LC | |||||||||||||
| 5409 NW 88TH ST STE 100 | JOHNSTON | IA | 50131 | 200183898 | INVESTMENT/LENDING | IA | IDC | RELATED | false | true | 0.99000 | 1651594 | 895868 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | false | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | true | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | false | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | false | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | false | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | false | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | false | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | false | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | false | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | false | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | false | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | false | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | false | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | false | SharingOfFacilities |
| Sharing Of Paid Employees | false | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | false | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | true | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | false | OtherTransferToOtherOrg |
| Other Transfer From Other Org | false | OtherTransferFromOtherOrg |