Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1985.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
42 people listed on the 990; $702K paid to officers and key staff.
Compensation history total reportable pay by year · 7 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Carolyn Darrah | $107,968 | $207,003 | $187,098 | $164,963 | $151,086 |
| Katy Susong | $155,425 | — | — | — | — |
| Lisa Skubal | $125,534 | $120,837 | $116,510 | $112,504 | $110,918 |
| James Schaefer | $124,555 | $118,416 | $116,061 | $121,498 | $104,436 |
| Sandi Sommerfelt | $122,245 | $114,418 | — | $82,391 | $78,704 |
| Melissa Reade | — | $121,477 | $116,682 | $114,381 | $111,857 |
| Wesley James | — | — | — | $106,409 | $115,593 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Promotes economic growth and business development in the Waterloo and Cedar Falls region of Iowa to increase local vitality and wealth.
Questions for Grow Cedar Valley
Your first name shows with your question. Grow Cedar Valley answers here, for everyone.
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Economic development activities aimed at promoting the WATERLOO/CEDAR falls, iowa metropolitan area to new and existing businesses.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.4M | $1.6M |
| Land, buildings, equipmentLn 10c | $329K | $360K |
| Total assetsLn 16 | $2.0M | $2.1M |
| LiabilitiesLn 26 | $933K | $825K |
| Net assetsLn 32 | $1.0M | $1.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $273K | |||
| Other salaries and wagesLn 7 | $719K | |||
| Pension plan contributionsLn 8 | $33K | |||
| Other employee benefitsLn 9 | $58K | |||
| Payroll taxesLn 10 | $76K | |||
| Legal feesLn 11b | $10K | |||
| Accounting feesLn 11c | $42K | |||
| Advertising and promotionLn 12 | $14K | |||
| Office expensesLn 13 | $29K | |||
| Information technologyLn 14 | $25K | |||
| OccupancyLn 16 | $37K | |||
| TravelLn 17 | $6K | |||
| Conferences, conventions and meetingsLn 19 | $882 | |||
| InterestLn 20 | $13K | |||
| Depreciation, depletion and amortizationLn 22 | $35K | |||
| InsuranceLn 23 | $17K | |||
| Other expenses (24a–d)Ln 24 | $117K | |||
| All other expensesLn 24e | $58K | |||
| Total functional expensesLn 25 | $1.6M | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $2.2M | $2.3M | −$124K | $1.7M | 990 PDF |
| FY2024 | $2.3M | $2.2M | $65K | $1.8M | 990 PDF |
| FY2023 | $2.2M | $1.7M | $494K | $1.8M | 990 PDF |
| FY2022 Viewing | $1.8M | $1.6M | $278K | $1.3M | 990 PDF |
| FY2021 | $1.6M | $1.6M | $57K | $1.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $1,840,706 revenue, 12 lines filed
Part VI · Governance 37 of 37 board members independent, no flags
Part VIII · Statement of revenue $1,840,706 across 8 lines filed
Part IX · Statement of functional expenses $1,562,838 across 18 lines filed
Part X · Balance sheet $2,127,308 assets, 14 lines filed
Part XI · Reconciliation of net assets $1,302,620 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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