Nonprofit · EIN 42-1432150
IOWA AREA DEVELOPMENT GROUP L C
Tax-exempt · DES MOINES, IA 50312
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,770,234 | $1,824,492 | -$54,258 | $3,089,870 | $1,755,917 | $1,333,953 |
| December 31, 2024 | 990 | $1,785,569 | $1,814,022 | -$28,453 | $3,423,353 | $2,035,142 | $1,388,211 |
| December 31, 2023 | 990 | $2,341,480 | $1,927,564 | $413,916 | $2,986,424 | $1,569,760 | $1,416,664 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,699,163
- Investment income
- $71,071
- Net gain from sales of assets
- $10,788
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $810,326
- Other salaries and wages
- $119,875
- Salaries, compensation and benefits (total)
- $1,267,433
- Professional fundraising fees
- $0
- Legal fees
- $4,867
- Accounting fees
- $1,450
- Occupancy
- $61,654
- Travel
- $1,321
- Depreciation
- $17,626
Balance sheet and other
- Total assets, start of year
- $3,423,353
- Total assets, end of year
- $3,089,870
- Total liabilities, end of year
- $1,755,917
- Net assets, end of year
- $1,333,953
- Land, buildings and equipment
- $110,438
- Gross receipts
- $1,797,446
- Employees
- 6
- Volunteers
- 0
- Year formed
- 1994
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRUCE NUZUM | CHIEF EXECUTIVE OFFICER Officer | 40 | $278,762 | $99,482 |
| BRUCE HANSEN | VICE PRESIDENT-BUS. DEVELO Highest-paid employee | 40 | $154,403 | $70,983 |
| ETHAN GRIFFIN PITT | VICE PRESIDENT-COMMUNITY I Highest-paid employee | 40 | $124,013 | $61,675 |
| BRIAN TAPP | VICE PRESIDENT-ADDED AGRIC Highest-paid employee | 40 | $133,787 | $48,679 |
| STEVE BENNE | VICE PRESIDENT-DEV. FINANC Highest-paid employee | 40 | $119,362 | $60,711 |
| SUZANNE WILHITE | DIRECTOR OF OPERATIONS Highest-paid employee | 40 | $119,875 | $49,370 |
| DOUGLAS AEILTS | BOARD CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| JACOB OLBERDING | BOARD VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| MATT WASHBURN | BOARD TREASURER/SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RON STEINHOFF | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID ONKEN | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| RICHARD WELSH | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| NORM MAJOR | FORMER BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRUCE NUZUM | CHIEF EXECUTIVE OFFICER Officer | 40 | $262,913 | $95,538 |
| BRUCE HANSEN | VICE PRESIDENT-BUS. DEVELO Highest-paid employee | 40 | $147,545 | $69,844 |
| ETHAN GRIFFIN PITT | VICE PRESIDENT-COMMUNITY I Highest-paid employee | 40 | $116,701 | $58,465 |
| BRIAN TAPP | VICE PRESIDENT-ADDED AGRIC Highest-paid employee | 40 | $125,900 | $47,321 |
| STEVE BENNE | VICE PRESIDENT-DEV. FINANCE Highest-paid employee | 40 | $111,417 | $58,330 |
| SUZANNE WILHITE | SR. MANAGER, ACCOUNTING & HUMAN RESOURCES Highest-paid employee | 40 | $100,110 | $47,042 |
| DOUGLAS AEILTS | BOARD CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| JACOB OLBERDING | BOARD VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| MATT WASHBURN | BOARD TREASURER/SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RON STEINHOFF | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID ONKEN | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| NORM MAJOR | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRUCE NUZUM | CHIEF EXECUTIVE OFFICER Officer | 40 | $248,903 | $95,620 |
| BRUCE HANSON | VICE PRESIDENT-BUS. DEVELO Highest-paid employee | 40 | $142,586 | $69,465 |
| KAY SNYDER | DIRECTOR-MKTG & COMMUNICAT Highest-paid employee | 40 | $105,764 | $54,603 |
| BRIAN TAPP | VICE PRESIDENT-ADDED AGRICULTURE Highest-paid employee | 40 | $120,507 | $38,759 |
| ETHAN GRIFFIN PITT | VICE PRESIDENT-COMMUNITY INITIATIVES Highest-paid employee | 40 | $107,633 | $48,938 |
| DOUGLAS AEILTS | BOARD CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| KEN KUYPER | BOARD VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| MATT WASHBURN | BOARD TREASURER/SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| RON STEINHOFF | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARVIN NEWTON | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| DAVID ONKEN | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| BILL CHERRIER | BOARD DIRECTOR (RESIGNED MAY 2023) Trustee or director | 1 | $0 | $0 |
| PAUL HEINEMAN | BOARD DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANDREW ST JOHN | BOARD DIRECTOR (APPOINTED JULY 2023) Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 2600 GRAND AVE STE 430, DES MOINES, IA 50312-5366
- In care of
- % RAND FISHER
- Principal officer (990 for 2025)
- BRUCE NUZUM, 2600 GRAND AVENUE SUITE 430, DES MOINES, IA 50312
- Signed the 990
- BRUCE NUZUM, PRESIDENT/CHIEF EXECUTIVE OFFI
- Phone
- (515) 223-4817
- Website
- WWW.IADG.COM
- Return prepared by
- DENMAN CPA LLP
Mission
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.
Program accomplishments
- 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.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 42-1432150
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $3,089,870
- Income (IRS master file)
- $1,797,446
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,770,234 | $1,824,492 | $3,089,870 | XML |
| 990 | December 2024 | $1,785,569 | $1,814,022 | $3,423,353 | XML |
| 990 | December 2023 | $2,341,480 | $1,927,564 | $2,986,424 | XML |
| 990 | December 2022 | $2,307,769 | $1,880,567 | $2,635,167 | IRS |
| 990 | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-1432150).
Questions about IOWA AREA DEVELOPMENT GROUP L C
- What is the EIN of IOWA AREA DEVELOPMENT GROUP L C?
- The employer identification number (EIN) of IOWA AREA DEVELOPMENT GROUP L C is 42-1432150.
- Is IOWA AREA DEVELOPMENT GROUP L C tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2021.
- Which annual return does IOWA AREA DEVELOPMENT GROUP L C file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of IOWA AREA DEVELOPMENT GROUP L C due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IOWA AREA DEVELOPMENT GROUP L C last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of IOWA AREA DEVELOPMENT GROUP L C?
- The 990 for the year ended December 31, 2025 names BRUCE NUZUM.
- Who are the officers and directors of IOWA AREA DEVELOPMENT GROUP L C?
- The 990 for the year ended December 31, 2025 lists 13 people; 6 received compensation from the organization, the highest $278,762 (BRUCE NUZUM, CHIEF EXECUTIVE OFFICER).
- How much revenue does IOWA AREA DEVELOPMENT GROUP L C have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,770,234, expenses of $1,824,492 and total assets of $3,089,870 at year end.
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