KEOKUK ECONOMIC DEVELOPMENT CORPORATION: Form 990, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
KEOKUK ECONOMIC DEVELOPMENT CORPORATION (EIN 42-1018928)
Tax period
2017-01-01 to 2017-12-31
Filed
2018-05-15
IRS object ID
201821359349303122
Schema version
2017v2.3
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

FieldValueIRS element (for citing)
Return2018-05-15T09:09:03-05:00ReturnTs
Tax Period End2017-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN421363298PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1MENKE & COMPANYBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1406 AVENUE E PO BOX 135AddressLine1Txt
CityWEST POINTCityNm
State AbbreviationIAStateAbbreviationCd
ZIP526560135ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2017-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN421018928EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1KEOKUK ECONOMIC DEVELOPMENTBusinessNameLine1Txt
Business Name Line2CORPORATIONBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlKEOKBusinessNameControlTxt
Phone3195246921PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1511 BLONDEAU ST SUITE 3AddressLine1Txt
CityKEOKUKCityNm
State AbbreviationIAStateAbbreviationCd
ZIP52632ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonBARB SMIDTPersonNm
Person TitleDIRECTORPersonTitleTxt
Phone3195246921PhoneNum
Signature2018-05-11SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonLAURA A MENKEPreparerPersonNm
PTINP00182503PTIN
Phone3198376042PhoneNum
Preparation2018-05-11PreparationDt
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerJEFF REICHMANPrincipalOfficerNm
Gross Receipts$256,147GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation1969FormationYr
Legal Domicile StateIALegalDomicileStateCd
Activity Or MissionECONOMIC DEVELOPMENT FOR KEOKUK, IA AND SURROUNDING COMMUNITY.ActivityOrMissionDesc
Voting Members Governing Body13VotingMembersGoverningBodyCnt
Voting Members Independent13VotingMembersIndependentCnt
Total Employee0TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
CY Contributions Grants$230,450CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
CY Investment Income-$17CYInvestmentIncomeAmt
CY Other Revenue$3,895CYOtherRevenueAmt
CY Total Revenue$234,328CYTotalRevenueAmt
CY Grants And Similar Paid$50,000CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$0CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
CY Other Expenses$9,195CYOtherExpensesAmt
CY Total Expenses$59,195CYTotalExpensesAmt
CY Revenues Less Expenses$175,133CYRevenuesLessExpensesAmt
Total Assets BOY$48,730TotalAssetsBOYAmt
Total Assets EOY$223,863TotalAssetsEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$48,730NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$223,863NetAssetsOrFundBalancesEOYAmt
MissionECONOMIC DEVELOPMENT FOR KEOKUK, IA AND SURROUNDING COMMUNITY.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$58,250ExpenseAmt
Grant$50,000GrantAmt
DescTHE PURPOSE OF THE CORPORATION IS TO ACQUIRE LAND AND REAL ESTATE TO ENCOURAGE, ASSIST, ESTABLISH, MAINTAIN AND DEVELOP INDUSTRIAL AND BUSINESS PROJECTS IN THE CITY OF KEOKUK, IA, LEE COUNTY, IA, AND THE SURROUNDING AREAS.Desc
Total Program Service Expenses$58,250TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
Report Land Building EquipmentYes (true)ReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsYes (true)GrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With Officer EntfalseBusinessRlnWithOfficerEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document0IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Employee0EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members13GoverningBodyVotingMembersCnt
Independent Voting Member13IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonANDREA ROGERSPersonNm
Phone3195246921PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1511 BLONDEAU ST SUITE 3AddressLine1Txt
CityKEOKUKCityNm
State AbbreviationIAStateAbbreviationCd
ZIP52632ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (13 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
JEFF REICHMAN
PRESIDENT2.00Yes (X)Yes (X)$0$0$0
MICHAEL HICKEY
VICE PRESIDE1.00Yes (X)Yes (X)$0$0$0
TOM MARION
SECRETARY1.00Yes (X)Yes (X)$0$0$0
ANDREA ROGERS
TREASURER2.00Yes (X)Yes (X)$0$0$0
KATHY GABEL
DIRECTOR1.00Yes (X)$0$0$0
SUSAN DUNEK
DIRECTOR1.00Yes (X)$0$0$0
DEBORAH WRIGHT
DIRECTOR1.00Yes (X)$0$0$0
HEATHER BARNETT
DIRECTOR1.00Yes (X)$0$0$0
JAKE JACOBSMEIER
DIRECTOR1.00Yes (X)$0$0$0
NANCY SNAADT
DIRECTOR1.00Yes (X)$0$0$0
MIKE GREENWALD
DIRECTOR1.00Yes (X)$0$0$0
BARB SMIDT
DIRECTOR2.00Yes (X)$0$0$0
AARON BURNETT
DIRECTOR1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$230,450AllOtherContributionsAmt
Total Contributions$230,450TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$36TotalRevenueColumnAmt
Exclusion$36ExclusionAmt

Gross Rents GrossRentsGrp

FieldValueIRS element (for citing)
Real$4,388RealAmt

Less Rental Expenses LessRentalExpensesGrp

FieldValueIRS element (for citing)
Real$493RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$3,895RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Total Revenue Column$3,895TotalRevenueColumnAmt
Exclusion$3,895ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

FieldValueIRS element (for citing)
Other$21,273OtherAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

FieldValueIRS element (for citing)
Other$21,326OtherAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Other-$53OtherAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

FieldValueIRS element (for citing)
Total Revenue Column-$53TotalRevenueColumnAmt
Related Or Exempt Func Income-$53RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$234,328TotalRevenueColumnAmt
Related Or Exempt Func Income-$53RelatedOrExemptFuncIncomeAmt
Exclusion$3,931ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

FieldValueIRS element (for citing)
Total$50,000TotalAmt
Program Services$50,000ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$8,250TotalAmt
Program Services$8,250ProgramServicesAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$500TotalAmt
Management And General$500ManagementAndGeneralAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total-$5TotalAmt
Management And General-$5ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$450TotalAmt
Management And General$450ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$59,195TotalAmt
Program Services$58,250ProgramServicesAmt
Management And General$945ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$9,879BOYAmt
EOY$205,788EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$18,075LandBldgEquipCostOrOtherBssAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
BOY$38,851BOYAmt
EOY$18,075EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$48,730BOYAmt
EOY$223,863EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$48,730BOYAmt
EOY$223,863EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$48,730BOYAmt
EOY$223,863EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$48,730BOYAmt
EOY$223,863EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$175,133ReconcilationRevenueExpnssAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year$230,450CurrentTaxYearAmt
Total$230,450TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year$230,450CurrentTaxYearAmt
Total$230,450TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$230,450PublicSupportTotal509Amt

Gross Investment Income509 GrossInvestmentIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year$4,424CurrentTaxYearAmt
Total$4,424TotalAmt

Investment Income And UBTI InvestmentIncomeAndUBTIGrp

FieldValueIRS element (for citing)
Current Tax Year$4,424CurrentTaxYearAmt
Total$4,424TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year$234,874CurrentTaxYearAmt
Total$234,874TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090.98120PublicSupportCY509Pct
Investment Income CY0.02000InvestmentIncomeCYPct
Investment Income PY0.00000InvestmentIncomePYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Land LandGrp

FieldValueIRS element (for citing)
Other Cost Or Other Basis$18,075OtherCostOrOtherBasisAmt
Book Value$18,075BookValueAmt
FieldValueIRS element (for citing)
Total Book Value Land Buildings$18,075TotalBookValueLandBuildingsAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedfalseGrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

FieldValueIRS element (for citing)
Business Name Line1LEE COUNTY ECONOMIC DEV CORPBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 1058AddressLine1Txt
CityKEOKUKCityNm
State AbbreviationIAStateAbbreviationCd
ZIP52632ZIPCd
FieldValueIRS element (for citing)
Recipient EIN043605260RecipientEIN
Cash Grant$50,000CashGrantAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990, PAGE 6, PART VI, LINE 11BNO REVIEW WAS OR WILL BE CONDUCTED.
FORM 990, PAGE 6, PART VI, LINE 19DOCUMENTS ARE AVAILABLE UPON REQUEST.
FORM 990, PART IX, LINE 11G8,250 0 0

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