2026-09-10T08:11:22-05:00 2025-12-31 420794029 DENMAN CPA LLP 1601 22ND STREET SUITE 400 WEST DES MOINES IA 502661453 990 2025-01-01 421432150 IOWA AREA DEVELOPMENT GROUP LC IOWA 5152234817 2600 GRAND AVENUE 430 DES MOINES IA 50312 BRUCE NUZUM PRESIDENT/CHIEF EXECUTIVE OFFI 5152234817 2026-09-09 1 THOMAS O WELCHANS P01333675 5152258400 2025 BRUCE NUZUM 2600 GRAND AVENUE SUITE 430 DES MOINES IA 50312 1797446 0 X WWW.IADG.COM X 1994 IA IT IS THE MISSION OF IOWA AREA DEVELOPMENT GROUP TO ADVANCE BUSINESS AND COMMUNITY DEVELOPMENT PROJECTS AND STRATEGIES IN RURAL IOWA ON BEHALF OF OUR UTILITY MEMBERS, ECONOMIC DEVELOPMENT PARTNERS AND THE COMMUNITIES WE SERVE. 6 6 6 0 0 0 0 0 1729322 1699163 56247 71071 0 0 1785569 1770234 0 0 0 0 1259778 1267433 0 0 0 554244 557059 1814022 1824492 -28453 -54258 3423353 3089870 2035142 1755917 1388211 1333953 IT IS THE MISSION OF IOWA AREA DEVELOPMENT GROUP TO ADVANCE BUSINESS AND COMMUNITY DEVELOPMENT PROJECTS AND STRATEGIES IN RURAL IOWA ON BEHALF OF OUR UTILITY MEMBERS, ECONOMIC DEVELOPMENT PARTNERS AND THE COMMUNITIES WE SERVE. 0 0 PROMOTING LOCATIONS AND COMMUNITY ASSETS WITHIN OUR MEMBER'S AREAS IN ORDER TO FACILITATE BUSINESSES EXPANSIONS WHICH PROVIDE JOB OPPORTUNITIES AND BRING INVESTMENT TO OUR RURAL AREA. PROVIDE TECHNICAL ASSISTANCE WHICH ALLOWS ACCESS TO LOAN, GRANT AND OTHER FINANCIAL PROGRAMS TO ASSIST ECONOMIC DEVELOPMENT EFFORTS ON BEHALF OF RURAL COMMUNITIES, BUSINESSES, AND MEMBER UTILITIES. CONDUCT EDUCATIONAL, TRAINING EVENTS, AND RECOGNITION PROGRAMS TO BUILD LOCAL CAPACITY IN RURAL IOWA. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 7 0 1 6 1 0 0 0 0 0 0 0 0 X 6 6 1 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 0 X BRUCE NUZUM 5152234817 2600 GRAND AVENUE SUITE 430 DES MOINES IA 50312 DOUGLAS AEILTS BOARD CHAIRMAN 1.00 X X 0 0 0 JACOB OLBERDING BOARD VICE CHAIRMAN 1.00 X X 0 0 0 MATT WASHBURN BOARD TREASURER/SECRETARY 1.00 X X 0 0 0 RON STEINHOFF BOARD DIRECTOR 1.00 X 0 0 0 DAVID ONKEN BOARD DIRECTOR 1.00 X 0 0 0 RICHARD WELSH BOARD DIRECTOR 1.00 X 0 0 0 BRUCE NUZUM CHIEF EXECUTIVE OFFICER 40.00 20.00 X 278762 0 99482 ETHAN GRIFFIN PITT VICE PRESIDENT-COMMUNITY I 40.00 X 124013 0 61675 BRUCE HANSEN VICE PRESIDENT-BUS. DEVELO 40.00 X 154403 0 70983 STEVE BENNE VICE PRESIDENT-DEV. FINANC 40.00 X 119362 0 60711 BRIAN TAPP VICE PRESIDENT-ADDED AGRIC 40.00 X 133787 0 48679 SUZANNE WILHITE DIRECTOR OF OPERATIONS 40.00 X 119875 0 49370 NORM MAJOR FORMER BOARD DIRECTOR 1.00 X 0 0 0 930202 0 390900 6 0 1 0 0 MEMBERSHIP INCOME 900099 1193280 1193280 AUREON SERVICES CONTRA 900099 273210 273210 OTHER INCOME 900099 203031 203031 IMPLEMENTATION/ADMIN F 900099 29642 29642 1699163 60283 60283 38000 27212 10788 10788 10788 1770234 1699163 0 71071 810326 119875 263879 5240 68113 4867 1450 27832 4429 45937 61654 1321 18931 1793 17626 8370 TRADE SHOWS 70207 ADMINISTRATION 66001 TRANSPORTATION 52338 RESEARCH/TELEMARKETING 49360 124943 1824492 640426 809563 1175184 691222 90784 28072 270573 160135 47456 110438 1469503 1450575 3423353 3089870 143849 97855 217885 0 40941 1673408 1617121 2035142 1755917 X 0 0 0 0 1388211 1333953 1388211 1333953 3423353 3089870 -54258 0 X 0 0 0 1 1 0 66926 28795 38131 203647 131340 72307 110438 RLF NOTES RECEIVABLE 891672 SEP MONEY MARKET 558903 1450575 SEP ADVANCED FUNDS 1437941 ADVANCE PAYMENTS RECEIVED 179180 1617121 X 1 1 X 0 0 0 BRUCE NUZUM CHIEF EXECUTIVE OFFICER 278762 0 0 0 0 0 77803 0 21679 0 378244 0 0 0 ETHAN GRIFFIN PITT VICE PRESIDENT-COMMUNITY I 124013 0 0 0 0 0 35321 0 26354 0 185688 0 0 0 BRUCE HANSEN VICE PRESIDENT-BUS. DEVELO 154403 0 0 0 0 0 44220 0 26763 0 225386 0 0 0 STEVE BENNE VICE PRESIDENT-DEV. FINANC 119362 0 0 0 0 0 34700 0 26011 0 180073 0 0 0 BRIAN TAPP VICE PRESIDENT-ADDED AGRIC 133787 0 0 0 0 0 37798 0 10881 0 182466 0 0 0 SUZANNE WILHITE DIRECTOR OF OPERATIONS 119875 0 0 0 0 0 34037 0 15333 0 169245 0 0 0 PART I, LINE 1A GIFT CARDS ARE PAID TO VARIOUS STAFF MEMBERS AND THEIR PAYROLL IS GROSSED UP TO REFLECT THE PAYMENT OF THE GIFT CARDS. FORM 990, PART VI, SECTION A, LINE 2 MATT WASHBURN & RON STEINHOFF - BUSINESS RELATIONSHIP DOUGLAS AEILTS & RICHARD WELSH - BUSINESS RELATIONSHIP JACOB OLBERDING & DAVID ONKEN - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS ORGANIZED AS A LIMITED LIABILITY COMPANY. FORM 990, PART VI, SECTION A, LINE 7A THE CLASS A MEMBERS OF THE ORGANIZATION ARE ALLOWED TWO REPRESENTATIVES ON THE ORGANIZATION'S BOARD OF DIRECTORS AT ALL TIMES. FORM 990, PART VI, SECTION A, LINE 7B ANY MODIFICATIONS TO THE ORGANIZATION'S OPERATING AGREEMENT MUST BE APPROVED BY MEMBERS. SUCH ACTION CANNOT BE COMPLETED WITH JUST THE ORGANIZATION'S BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B NOT APPLICABLE FORM 990, PART VI, SECTION B, LINE 11B THE 990 WILL BE SHARED AND REVIEWED BEFORE FILING BY ALL IADG DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C POLICY REVIEWED ANNUALLY WHEN BOARD MEMBERS SIGN FOR THE YEAR. FORM 990, PART VI, SECTION C, LINE 18 BY REQUEST. FORM 990, PART VI, SECTION C, LINE 19 ALL POLICY AND PROCEDURE IS AVAILABLE UPON REQUEST. IOWA AREA DEVELOPMENT GROUP COMMUNITY FOUNDATION 2600 GRAND AVENUE STE 340 DES MOINES IA 50312 830361044 TO FOSTER ECONOMIC DEVELOPMENT AND COMMUNITY BETTERMENT IA 501(C)(3) LINE 7 IOWA AREA DEVELOPMENT GROUP LC 1 DEVELOPMENT PARTNERS NETWORK 2600 GRAND AVENUE STE 340 DES MOINES IA 50312 991372813 TO FOSTER ECONOMIC DEVELOPMENT AND COMMUNITY BETTERMENT IA 501(C)(6) 1 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 0 IOWA AREA DEVELOPMENT GROUP COMMUNITY FOUNDATION C IOWA AREA DEVELOPMENT GROUP COMMUNITY FOUNDATION L 180250 CASH IOWA AREA DEVELOPMENT GROUP COMMUNITY FOUNDATION N IOWA AREA DEVELOPMENT GROUP COMMUNITY FOUNDATION O IOWA AREA DEVELOPMENT GROUP COMMUNITY FOUNDATION P IOWA AREA DEVELOPMENT GROUP COMMUNITY FOUNDATION Q (REMANING AMOUNTS BELOW REPORTING THRESHOLDS)