IOWA LAKES CORRIDOR DEVELOPMENT COR (EIN 421484176) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1992

Legal Domicile

Principal Officer

BRAD BECK

Phone

7122643474

Tax Period

2023-01-01 to 2023-12-31

IOWA LAKES CORRIDOR DEVELOPMENT COR, founded in 1992, is a small nonprofit in the Community Improvement sector that reported $426K in total revenue in fiscal year 2023. Revenue decreased 16% compared to the prior year. Expenses of $546K exceeded revenue, resulting in a 28% operating deficit.

Mission

TO FOSTER, ENCOURAGE, AID OR OTHERWISE ASSIST IN THE ECONOMIC GROWTH AND DEVELOPMENT OF THE FOUR-COUNTY REGION OF BUENA VISTA, CLAY, DICKINSON AND EMMET COUNTIES IN IOWA.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $413,704

Program Service Revenue $0

Investment Income $12,219

Other Revenue $0

TOTAL REVENUE $425,923

Expense Breakdown

Grants Paid $0

Salaries & Benefits $316,028

Fundraising Expenses $0

Other Expenses $229,488

TOTAL EXPENSES $545,516

Year-over-Year Comparison

	2023	2022	Change
Revenue	$425,923	$508,613	-0.2%
Expenses	$545,516	$723,711	-0.2%
Net Income	$-119,593	$-215,098	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$56,510

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CURT STROUTH	EXECUTIVE DI	40.00	Officer	$56,510	$0	$56,510
MATT BEAVER	BOARD MEMBER	0.34	Director	$0	$0	$0
BRAD BECK	CHAIR-2023	0.34	Officer Director	$0	$0	$0
DOUG BENJAMIN	CHAIR-2022	0.34	Officer Director	$0	$0	$0
SCOTT BERGLUND	BOARD MEMBER	0.34	Director	$0	$0	$0
WALTER DEBOCK	BOARD MEMBER	0.34	Director	$0	$0	$0
KEITH DEITERING	BOARD MEMBER	0.34	Director	$0	$0	$0
TIM FAIRCHILD	BOARD MEMBER	0.34	Director	$0	$0	$0
MIKE KOENECKE	BOARD MEMBER	0.34	Director	$0	$0	$0
BRIAN LENZMEIER	VICE CHAIR	0.34	Officer Director	$0	$0	$0
MICHELLE NICOSON	BOARD MEMBER	0.34	Director	$0	$0	$0
JOHN PLUTH	BOARD MEMBER	0.34	Director	$0	$0	$0
MIKE PORSCH	BOARD MEMBER	0.34	Director	$0	$0	$0
EBONY RAHE	BOARD MEMBER	0.34	Director	$0	$0	$0
JED SKOGERBOE	TREASURER	0.34	Director	$0	$0	$0
NATHAN WITTMAACK	BOARD MEMBER	0.34	Director	$0	$0	$0
DONAVON WUNSCHEL	BOARD MEMBER	0.34	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$425,923	$545,516	$1,436,042	$-119,593
2022	$508,613	$723,711	$1,589,988	$-215,098
2021	$291,496	$315,123	$2,729,329	$-23,627
2021	$876,297	$596,412	$2,750,443	$279,885
2020	$1,667,729	$739,370	$2,380,278	$928,359
2019	$386,946	$580,015	$1,521,477	$-193,069
2018	$320,068	$629,462	$1,682,744	$-309,394

IOWA LAKES CORRIDOR DEVELOPMENT COR