2025-06-26T17:26:38-04:00 2024-12-31 883059471 J Randall CPA LLC 4848 S 120th St Ste 410 Omaha NE 68137 990 2024-01-01 421459560 Pottawattamie County Development Corporation % Chris LaFerla POTT 7123962494 149 W Broadway Council Bluffs IA 51503 CHRIS LAFERLA Chief Executive Officer 7123251000 2025-05-12 true true JOSHUA RANDALL P01653110 4028031392 2025-06-26 2024 2025-03-06 01:10:19Z X The 712 Initiative Chris LaFerla 149 W Broadway Council Bluffs IA 51503 1635460 false X the712initiative.org X 1997 IA The 712 Initiative is aimed at improving the economic vitality in redevelopment areas through investments in the built environment, activating public spaces and delivering programs that increase social engagement and healthy lifestyles. 20 20 5 490 129146 0 3222751 227792 843000 864795 3442 65773 -138704 -392211 3930489 766149 439942 28191 0 352951 267491 9722 15977 1187216 1476778 1980109 1782182 1950380 -1016033 15645673 13506285 4463254 3339899 11182419 10166386 The 712 Initiative is aimed at improving the economic vitality in redevelopment areas through investments in the built environment, activating public spaces and delivering programs that increase social engagement and healthy lifestyles. false false 977696 725295 Rentals-The 712 revitalizes areas through investments in the built environment by buying distressed properties, renovating, and operating mixed use rental properties. These provide much needed housing while also activiating public spaces by having people live and work in these areas. 213867 30733 Quality of Life-Enhancing community life and well-being by increasing social connectedness of residents in Council Bluffs, IA through endeavors that activate public spaces, create new forms of entertainment and support current attractions/events. The 712 fosters partnerships with the public and private sectors to provide quality options for recreation and healthy lifestyles. In 2024 The 712 hosted events suchs as the Shamrock Shuffle, Celebrate CB, Farmers Market and others. The 712 also partnered with others for events to bring the community together. 203138 28191 Neighborhood Building-Strengthening neighborhoods city wide with programming which provides general support while increasing public engagement in redevelopment projects, public space improvement and community events. As part of these efforts, The 712 has a block party trailer that has equipment and games that neighborhoods can borrow to help strengthen neighborhood relationships. The 712 also has equipment that can be used to put on movie nights. To further improve neighborhoods, The 712 hosted a rock the block event and provided assistance to individuals to help make improvements to their homes through the AMP program. During 2024 The 712 acquired 1 home for rehabilitation and sold 2 homes it had completed rehabilitation on with another 2 under rehab and construction of a unit with 3 homes. 118223 35828 Development- The 712 improves economic vitality in redevelopment areas through investemnts to improve the variety of quality housing and commercial stock in Council Bluffs. These investemnts attract new professionals and residents to the community. The 712s efforts to attract new property investments are accomplished through introduction of new developers to the community and through The 712 buying and rehabilitating properties. 118223 35828 1512924 true true false false false false false false true false true false false false true true false true false false false false false false false false false false true true false false false true false false false false false false false false true true true false false false true 16 0 5 true true true false false false false false false false false X 20 20 false true false false false false false true true false false true true true true true false true false false X The 712 Initiative 7123962494 149 W Broadway Council Bluffs IA 51503 Chris LaFerla Chief Executive Officer 20.00 0.00 X 76216 131823 21462 Amy Carlous Past- President 2.00 0.00 X 0 0 0 Amy McDermott Past-Board Secretary 1.00 0.00 X 0 0 0 Tom Hanafan Board Member 1.00 0.00 X 0 0 0 Nikki Rauth Board Member 1.00 0.00 X 0 0 0 Kerrie Snyder Board Member 1.00 0.00 X 0 0 0 Shane Hoss Board Member 1.00 0.00 X 0 0 0 Jessica Vanderpool Board Member 1.00 0.00 X 0 0 0 Dave Wise Board Member 1.00 0.00 X 0 0 0 Brent Hoesing Board Member 1.00 0.00 X 0 0 0 John Dresher Board Member 1.00 0.00 X 0 0 0 Dave Burd Chair-Elect 1.00 0.00 X 0 0 0 George Barton Board Member 1.00 0.00 X 0 0 0 Dan Kinney Board Member 1.00 0.00 X 0 0 0 Sammy Evan Board Member 1.00 0.00 X 0 0 0 David Zimmerman Board Member 1.00 0.00 X 0 0 0 Hannah Smith Board Member 1.00 0.00 X 0 0 0 Dr Vickie Murillo Board Member 1.00 0.00 X 0 0 0 Soctt Hartman Board Member 1.00 0.00 X 0 0 0 Wyatt Greenwood Past Board Vice-Chair 1.00 0.00 X X 0 0 0 Jennifer Fletcher Board Treasurer 1.00 0.00 X X 0 0 0 Mark Hanwright Chair 1.00 0.00 X X 0 0 0 76216 131823 21462 0 false true false Bartos Construction 5719 S 238th St Elkhorn NE 68022 CONTRACTOR 114019 1 227792 227792 Financing Revenue 900099 35828 35828 Events and Programming 900099 30733 30733 Rental 900099 725295 596149 129146 Development Management 900099 72939 72939 864795 65773 65773 0 465000 869311 -404311 -404311 Other Revenue 900099 12100 12100 12100 766149 343438 129146 65773 28191 28191 228521 139398 86838 2285 7737 4720 2940 77 14369 8765 5460 144 16864 10287 6408 169 44214 44214 11862 10160 1596 106 81850 10686 70452 712 9722 9722 137739 122937 13372 1430 3954 2861 1065 28 10927 8902 1916 109 16342 9969 6266 107 319043 306774 11954 315 523 384 135 4 3873 2362 1472 39 170023 169832 186 5 296305 294427 1830 48 76750 50363 25710 677 Rental Operating 124436 124436 DevelopProgramEvent 62834 62834 Bad Debts 71382 71382 Provision for CECL 29040 29040 15681 15681 1782182 1512924 253281 15977 249690 284676 1433940 1339365 19135 1969017 53604 248060 212634 1644969 1595174 1189191 1428937 13951 9793 8984558 831719 8447090 8152839 423000 423000 7630 6263 15645673 13506285 258166 288513 24057 25887 4108401 3019236 72630 6263 4463254 3339899 X 10172514 9826390 1009905 339996 11182419 10166386 15645673 13506285 -1016033 0 X false true X true false X 941152 1325090 3535318 3222751 227792 9252103 12000 12000 12000 36000 941152 1325090 3547318 3234751 239792 9288103 4735641 4552462 219 8465 8713 3408 65773 86578 9374681 2365629 0.48560 0.46750 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true X 645900 645900 7692073 762616 6929457 73959 44888 29071 572626 24215 548411 8152839 OPERATING LEASE LIABILITIES 6263 6263 X Part IV, Line 2-Explanation of escrow or custodial account liability Security Deposits are held for residential and commercial tenants for its mixed-use properties. Part X, Line 2-Text in footnote regarding FIN 48 (ASC 740) The 712 accounts for uncertainties in accounting for income tax assets and liabilities using the guidance included in Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) Topic 740, Income Taxes. There are no uncertainties that are reflected in the financial statements and, with few exceptions, The 712 is no longer subject to income tax examinations by the U.S. federal, state, or local tax authorities for years before 2022. true IMPROVEMENT TO HOMES 2 28191 false false false false false false false false false Chris LaFerla Chief Executive Officer 76216 131823 9319 12143 85535 143966 Related organization compensation method (Part I, line 3) The CEOs salary is determined by the board for the Chamber of Commerce of Council Bluffs and is set by review of compensation and approval by the board. Brian Petersen Prior Board Member DRF Program X 250000 212634 false true true 212634 Management duties delegation Part VI line 3 The Organization is managed by the CEO of a related organziation, for which there is also a common board. The CEO manages the employees of The 712 and provides oversight over the daily operations. Form 990 governing body review Part VI line 11 The board receives a copy for review prior to filing. Conflict of interest policy compliance Part VI line 12c Board members are required to disclose any known conflicts of interest annually. Members who have conflicts do not vote or lobby on behalf of an issue where a conflict exists. If a conflict is known or a member feels another memeber has a conflict, that member is asked to declare it during the discussion. CEO executive director top management comp Part VI line 15a The CEO is an employee of a related Organization and their compensation is determined by that Organization. Governing documents etc available to public Part VI line 19 The Organization does not make its governing documents or conflict of interest policy available to the public. Financial statements are available to the public upon request. General explanation attachment During 2024 The 712 Board of directors decided to merge boards with the Council Bluffs Chamber of Commerce and Council Bluffs Chamber of Commerce Foundation. This action created a common board which oversees all three entities and thus created a related organization relationship. Prior to this change, the CEO of the Chamber was also acting as the CEO for The 712 Initiative. Hughes-Irons Building LLC 149 W Broadway Council Bluffs IA 51503 270843660 Residential and Commercial Rents IA 441740 2623446 N/A Cohen Building LLC 530 W Broadway Council Bluffs IA 51503 882971981 Residential and Commercial Rents IA 295555 5029760 N/A 12 Scott LLC 12 Scott ST Council Bluffs IA 51503 882958281 Residential and Commercial Rents IA 559792 N/A Council Bluffs Chamber of Commerce 149 W Broadway Council Bluffs IA 51503 420198270 Business networking workforce development and advocacy IA 501c6 N/A false CB Chamber of Commerce Foundation 149 W Broadway Council Bluffs IA 51503 853060006 Support CB Chamber functions IA 501c3 10 N/A false false false false false false false false false false true false false false false true false false false false Council Bluffs Chamber of Commerce j 119392 FMV Council Bluffs Chamber of Commerce o 85959 Cost