Madison County Development Group

Nonprofit profile at a glance

EIN
421303617
IRS 990 coverage
2020–2025
Forms available
Form 990 2025, Form 990-EZ 2019
Location
Winterset, IA, USA
Phone
5154621891
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$170,452
Expenses
$209,475
Assets
$590,421
Liabilities
$0

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

Leadership & pay

21 people listed

Executive titles in this filing

  • JEFF NOLAN (PAST PRESIDENT DIRECTOR)
  • WAYNE MARTENS (1ST VICE PRESIDENT DIRECTOR)
  • MELISSA COLLSTROM (2ND VICE PRESIDENT DIRECTOR)
  • DREW BARDEN (PRESIDENT)
  • RYAN MARQUARDT (EXECUTIVE DIRECTOR SECRETARY)

People named in this filing

  • S JAMES SMITH (TREASURER DIRECTOR)
  • JEFF NOLAN (PAST PRESIDENT DIRECTOR)
  • TREVOR HEIMBAUGH (DIRECTOR JOINED NOV 2025)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To attract businesses to locate in madison county, Iowa

What it reported doing in 2025

Program expenditures to attract business to locate in madison county, Iowa

Operating model

Revenue model
Grant-funded. 63% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 100% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 27
  • Transparency & Controls: 88
  • Accountability: 88
  • Sustainability: 41
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 34.8%; rating input score 35
  • Program expense ratio: 22.2%; rating input score 22
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 20th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 92.9%; rating input score 93; 56th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: -22.9%; rating input score 10; 10th percentile among comparable filings
  • Total-asset coverage ratio: 2.82; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 85.7% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 27th percentile among comparable filings
  • Asset growth: 3.6% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 34.8% of revenue deployed · 22.2% of spending went to programs
  • Governance: 18 of 18 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $46K in reported program spending
  • Leadership: top reported pay $0 · 21 people listed
  • Consistency: 21 of 22 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
  • High — Financial Efficiency: Program expense ratio scored 22/100.
  • High — Sustainability: Operating margin scored 10/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.