EIN 42-1505470

Waterloo Development Corporation

IRS 501(c) type
501(c)(3)
Num. employees
0
State
Year formed
2000
Most recent tax filings
2022-12-01
Description
Waterloo Development Corporation promotes the civic, industrial, mercantile, traffic and transportation, agricultural and other interests of Waterloo, Cedar Falls and northeast Iowa areas through economic development. During the 2014 tax year, the organization successfully completed construction of the Cedar Valley Sportsplex facility.
Total revenues
$876,951
2022
Total expenses
$482,293
2022
Total assets
$695,702
2022
Num. employees
0
2022

Program areas at Waterloo Development Corporation

Promote civic, industrial, mercantile, traffic and transportation, agricultural and other interest of Waterloo, cedar falls and northeast Iowa areas.during the 2014 tax year, the organization completed construction of the cedar valley sportsplex facility, primarily funded through private funding. The sportsplex is a multi-purpose sports facility that includes indoor and outdoor play areas, a gymnasium, a field house with batting cages and golf hitting area, a leisure pool, locker rooms and several multi purpose rooms for conferences or exercise classes. The facility is operated by the city of Waterloo leisure services department. The organization has entered into an agreement with the city of Waterloo, ia to lease the facility at a discounted rate with an option to purchase the facilty for $1 upon the expiration of the lease.

Who funds Waterloo Development Corporation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Black Hawk County Gaming AssociationIndoor Court Facility (Hard Court Tournament Center), Property Acquisition$1,029,250

Personnel at Waterloo Development Corporation

NameTitleCompensation
Robert PetersenVice President$0
Jim WalshSecretary and Treasurer$0

Financials for Waterloo Development Corporation

RevenuesFYE 12/2022
Total grants, contributions, etc.$876,722
Program services$0
Investment income and dividends$29
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$200
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$876,951

Form 990s for Waterloo Development Corporation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-10-31990View PDF
2021-122022-10-12990View PDF
2020-122021-11-15990View PDF
2019-122021-04-01990View PDF
2018-122019-12-06990View PDF
...and 9 more Form 990s
Data update history
December 30, 2023
Posted financials
Added Form 990 for fiscal year 2022
December 30, 2023
Updated personnel
Identified 1 new personnel
November 25, 2023
Posted financials
Added Form 990 for fiscal year 2021
September 26, 2023
Received grants
Identified 1 new grant, including a grant for $1,029,250 from Black Hawk County Gaming Association
June 26, 2023
Posted financials
Added Form 990 for fiscal year 2020
Nonprofit Types
Public sector nonprofitsBusiness and community development organizationsCharities
Issues
Community improvementEconomic development
Characteristics
State / local levelTax deductible donationsNo full-time employees
General information
Address
360 Westfield Ave Ste 200
Waterloo, IA 50701
Metro area
Waterloo-Cedar Falls, IA
County
Black Hawk County, IA
Phone
(319) 292-3956
IRS details
EIN
42-1505470
Fiscal year end
December
Taxreturn type
Form 990
Year formed
2000
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
S31: Urban, Community Economic Development
NAICS code, primary
926110: Economic Development Corporations and Economic Program Organizations
Parent/child status
Independent
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