Medquarter Inc

Nonprofit profile at a glance

EIN
352576257
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Cedar Rapids, IA, USA
Phone
3193985317
Rating confidence
Limited
Sector
Chambers of Commerce & Business Leagues

Reported finances

Revenue
$233,358
Expenses
$159,493
Assets
$1,032,093
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • PHILIP WASTA (PRESIDENT)

People named in this filing

  • CASEY GREENE (SECRETARY)
  • TIM QUINN (TREASURER)
  • PHILIP WASTA (PRESIDENT)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The medquarter (short for medquarter regional medical district) is a revitalization partnership committed to promoting a dynamic urban medical community to improve quality of life and advocate for new businesses and jobs in a defined medical district.

What it reported doing in 2024

Business community the medquarter continued its district improvement efforts by collaborating with the city of cedar rapids on the construction of a roundabout at the intersection of 10th street / 8th avenue / mt. Vernon road se. The project will support the medquarter's parkway standards including new light poles/lights, trees, decorative pavers, decorative fencing, landscaping, signage, and programmable led landscape lighting. This is a 2-year construction project. 50 self-watering decorative planters with flowers, grasses and plants were placed throughout the district for the growing season. Holiday lighting was installed on 85 trees throughout the district as well as a large holiday display along 1st avenue for the 2025/2026 holiday season.

Operating model

Revenue model
Membership-supported. 88% of the money available for current operations came from membership dues.
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: 65
  • Accountability: 76
  • Sustainability: 81
  • Growth: 0

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; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • 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: 31.7%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 6.47; rating input score 84; 84th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -18.3% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -5.1% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 2 of 2 board members independent · 3 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $0 · 3 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 9 of 9 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 8 filing years from 2016 to 2024
  • Contacts: How to reach this organization
  • 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.