Iowa Area Development Group

Legal name: Iowa Area Development Group Lc

Nonprofit profile at a glance

EIN
421432150
IRS 990 coverage
2021–2025
Official website data refreshed
Sep 2026
Forms available
Form 990 2025
Location
Des Moines, IA, US
Phone
515-223-4817
Rating confidence
Limited

Official website

Reported finances

Revenue
$1,770,234
Expenses
$1,824,492
Assets
$3,089,870
Liabilities
$1,755,917

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • BRUCE NUZUM (CHIEF EXECUTIVE OFFICER)
  • ETHAN GRIFFIN PITT (VICE PRESIDENT-COMMUNITY I)
  • BRUCE HANSEN (VICE PRESIDENT-BUS. DEVELO)
  • STEVE BENNE (VICE PRESIDENT-DEV. FINANC)
  • BRIAN TAPP (VICE PRESIDENT-ADDED AGRIC)

Highest reported compensation

  • BRUCE NUZUM (CHIEF EXECUTIVE OFFICER): $378,244 total reported compensation
  • BRUCE HANSEN (VICE PRESIDENT-BUS. DEVELO): $225,386 total reported compensation
  • ETHAN GRIFFIN PITT (VICE PRESIDENT-COMMUNITY I): $185,688 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Iowa Area Development Group (IADG) drives business growth in Iowa through shovel-ready sites, utility partnerships, financial incentives, and unmatched local connections.

What it reported doing in 2025

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.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 72
  • Accountability: 84
  • Sustainability: 29
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.1%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 1.69; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.57; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 72.4%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 1.3% per year; rating input score 100; 16th percentile among comparable filings
  • Asset growth: 5.7% per year; rating input score 100; 38th percentile among comparable filings

Details

  • What they do: 1 operating location identified
  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 6 of 6 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $378K · 13 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2021 to 2025
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Officer compensation ratio scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.