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Nonprofiteer
← FORT MADISON ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2022

Filed by FORT MADISON ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$139,034
Total expenses
$557,230
Contributions and grants received
$136,221
Grants paid
$20,000
Program service revenue
$0
Investment income
$2,813
Other revenue
$0
Total assets, end of year
$535,681
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$535,681
Program services expenses (Part IX)
$546,333
Management and general expenses
$10,897
Fundraising expenses
$0
Program service expenses (Part III)
$546,333

Program services were 98.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $136,221

  • 3 · Investment income

    total $2,813 · excluded $2,813

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $20,000 · program services $20,000

  • 19 · Conferences, conventions and meetings

    total $53 · management and general $53

  • 23 · Insurance

    total $2,338 · management and general $2,338

  • 24a · Other expenses: COMMUNITY DEVELOPMENT PRO

    total $526,265 · program services $526,265

  • 24b · Other expenses: DOG PARK

    total $7,920 · management and general $7,920

  • 24c · Other expenses: PROPERTY TAX

    total $586 · management and general $586

  • 24d · Other expenses: ANNUAL DINNER

    total $68 · program services $68

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $492,305 · end of year $41,269

  • 2 · Savings and temporary cash investments

    beginning of year $454,863 · end of year $487,453

  • 4 · Accounts receivable

    end of year $250

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,745 · end of year $1,745

  • 10a · Land, buildings and equipment: cost or other basis

    $4,964

  • 10c · Land, buildings and equipment, net

    beginning of year $4,964 · end of year $4,964

  • 27 · Net assets without donor restrictions

    beginning of year $953,877 · end of year $535,681

Mission and programs · 2022

Mission

PROMOTION OF AREA ENCONOMIC DEVELOPMENT.

Activities or mission (Part I)

PROMOTION OF AREA ECONOMIC DEVELOPMENT

  • PROMOTION OF FORT MADISON TO EXISTING INDUSTRIES AND BUSINESS AS WELL AS TO PROSPECTIVE BUSINESSES. ACTIVE SEARCH FOR NEW INDUSTRY AND ASSISTANCE TO BUSINESSES AND INDUSTRY LOOKING TO EXPAND OR BEGIN.

    Expenses $546,333 · Grants $20,000

As filed on the 2022 return.

Listed in Part VII

  • Jeremy Alexander

    DIRECTOR

    Total calculated
    $0

  • Mike Culbertson

    TREASURER

    Total calculated
    $0

  • Corey Fraise

    DIRECTOR

    Total calculated
    $0

  • Tim Gobble

    SECRETARY

    Total calculated
    $0

  • Javier Guevara

    DIRECTOR

    Total calculated
    $0

  • Gary Hoyer

    DIRECTOR

    Total calculated
    $0

  • Bob Huffman

    CHAIRMAN

    Total calculated
    $0

  • Bryan Langerud

    DIRECTOR

    Total calculated
    $0

  • Matt Morris

    VICE-CHAIRMA

    Total calculated
    $0

  • Matt Morrison

    DIRECTOR

    Total calculated
    $0

  • Moudy Nabulsi

    DIRECTOR

    Total calculated
    $0

  • Larry Smith

    DIRECTOR

    Total calculated
    $0

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
20 July 2023
IRS schema version
2022v5.0
Source object
202302299349300105

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