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Nonprofiteer
← KEOKUK ECONOMIC DEVELOPMENT CORPORATION

Form 990 for tax year 2024

Filed by KEOKUK ECONOMIC DEVELOPMENT CORPORATION.

Totals

Total revenue
$135,050
Total expenses
$63,950
Contributions and grants received
$70,000
Grants paid
$31,000
Program service revenue
$0
Investment income
$2,745
Other revenue
$62,305
Total assets, end of year
$637,642
Total liabilities, end of year
$254,174
Net assets or fund balances, end of year
$383,468
Program services expenses (Part IX)
$62,250
Management and general expenses
$1,700
Fundraising expenses
$0
Program service expenses (Part III)
$62,250

Program services were 97.3% 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

    $70,000

  • 3 · Investment income

    total $2,745 · excluded $2,745

  • 6a · Gross rents

    real property $178,874

  • 6b · Less rental expenses

    real property $116,569

  • 6c · Rental income or loss

    real property $62,305

  • 6d · Net rental income or loss

    total $62,305 · excluded $62,305

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $31,000 · program services $31,000

  • 11c · Fees: accounting

    total $850 · management and general $850

  • 23 · Insurance

    total $850 · management and general $850

  • 24a · Other expenses: ADMINSTRATION-OTHER

    total $31,250 · program services $31,250

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,382 · end of year $54,398

  • 2 · Savings and temporary cash investments

    beginning of year $54,318 · end of year $56,900

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

    $539,720

  • 10b · Land, buildings and equipment: accumulated depreciation

    $13,376

  • 10c · Land, buildings and equipment, net

    beginning of year $539,720 · end of year $526,344

  • 24 · Unsecured notes and loans payable

    beginning of year $303,052 · end of year $254,174

  • 27 · Net assets without donor restrictions

    beginning of year $312,368 · end of year $383,468

Mission and programs · 2024

Mission

ECONOMIC DEVELOPMENT FOR KEOKUK, IA AND SURROUNDING COMMUNITY.

  • THE PURPOSE OF THE CORPORATION IS TO ACQUIRE LAND AND REAL ESTATE TO ENCOURAGE, ASSIST, ESTABLISH, MAINTAIN AND DEVELOP INDUSTRIAL AND BUSINESS PROJECTS IN THE CITY OF KEOKUK, IA, LEE COUNTY, IA, AND THE SURROUNDING AREAS.

    Expenses $62,250 · Grants $31,000

As filed on the 2024 return.

Listed in Part VII

  • Erika Barrett

    DIRECTOR

    Total calculated
    $0

  • Emily Benjamin

    DIRECTOR

    Total calculated
    $0

  • Dave Bogner

    SECRETARY

    Total calculated
    $0

  • Brian Carroll

    DIRECTOR

    Total calculated
    $0

  • Susan Dunek

    DIRECTOR

    Total calculated
    $0

  • James Ferneau

    DIRECTOR

    Total calculated
    $0

  • Mike Hickey

    DIRECTOR

    Total calculated
    $0

  • Josh Kirchner

    DIRECTOR

    Total calculated
    $0

  • Kerry Klepfer

    PRESIDENT

    Total calculated
    $0

  • Kathie Mahoney

    DIRECTOR

    Total calculated
    $0

  • Doug Matlick

    DIRECTOR

    Total calculated
    $0

  • Kay Sackville

    DIRECTOR

    Total calculated
    $0

  • Barb Smidt

    TREASURER

    Total calculated
    $0

  • Richard West

    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
2024
Filed
28 October 2025
IRS schema version
2024v5.0
Source object
202543029349302014

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