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Nonprofiteer
← MASON CITY CHAMBER OF COMMERCE FOUNDATION

Form 990 for tax year 2023

Filed by MASON CITY CHAMBER OF COMMERCE FOUNDATION.

Totals

Total revenue
$721,622
Total expenses
$788,061
Contributions and grants received
$713,678
Grants paid
$708,461
Program service revenue
$3,900
Investment income
$4,044
Other revenue
$0
Total assets, end of year
$267,837
Total liabilities, end of year
$328,933
Net assets or fund balances, end of year
-$61,096
Program services expenses (Part IX)
$787,432
Management and general expenses
$629
Fundraising expenses
$0
Program service expenses (Part III)
$787,432

Program services were 99.9% 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.

  • 1e · Government grants (contributions)

    $356,255

  • 1f · All other contributions, gifts and grants

    $357,423

  • 2a · Program service revenue: RENTAL OF EGLOFF HOUSE

    total $3,900 · related or exempt $3,900

  • 3 · Investment income

    total $4,044 · excluded $4,044

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $526,290 · program services $526,290

  • 2 · Grants to domestic individuals

    total $182,171 · program services $182,171

  • 11c · Fees: accounting

    total $540 · management and general $540

  • 21 · Payments to affiliates

    total $70,898 · program services $70,898

  • 24a · Other expenses: EGLOFF HOUSE

    total $8,029 · program services $8,029

  • 24b · Other expenses: BANK FEES

    total $89 · management and general $89

  • 24c · Other expenses: WEBSITE FEES

    total $44 · program services $44

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $163,342 · end of year $109,838

  • 11 · Investments: publicly traded securities

    end of year $157,999

  • 17 · Accounts payable and accrued expenses

    end of year $157,999

  • 25 · Other liabilities

    end of year $170,934

  • 27 · Net assets without donor restrictions

    beginning of year $163,342 · end of year -$61,096

Mission and programs · 2023

Mission

TO ASSIST THE LONG TERM WORK AND OPERATIONS OF THE MASON CITY CHAMBER OF COMMERCE AND RECEIVE GRANTS AND CONTRIBUTIONS FOR THE BENEFIT OF THE MASON CITY.

  • TO PROVIDE FOR THE COMMUNITY PLANNING INITIATIVES FOR THE MASON CITY

    Expenses $70,898

  • CHILDCARE WORKS PROGRAM INITIATED TO PROVIDE MONETARY ASSISTANCE TO DAYCARE PROVIDERS IN MASON CITY, IOWA AND SURROUNDING COMMUNITIES.

    Expenses $612,686 · Grants $612,686

  • CHILDCARE SLOT EXPANSION PROGRAM INITIATED TO PROVIDE ADDTIONAL FUNDING TO AREA DAYCARE PROVIDERS NEEDING ADDITIONAL STAFF.

    Expenses $95,775 · Grants $95,775

  • TO PROVIDE FOR THE RESTORATION AND PRESERVATION OF THE EGLOFF HOUSE AS A USEFUL RESIDENCE AS TEMPORARY HOUSING.

    Expenses $8,073 · Revenue $3,900

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Colleen Frein

    SECRETARY

    Total calculated
    $112,883
    From this org
    $0
    From related orgs
    $112,883
    Other
    $0
    Hours/week
    2

  • Jane Fischer

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Andrew Hubbard

    PAST CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Robert Klocke

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    1

  • Kim Pang

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    1

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

  • MASON CITY FAMILY YMCA

    $27,000

    DAYCARE

  • MASON CITY CHAMBER OF COMMERCE

    $12,000

    FORWARDED GRANTS

  • CITY OF MASON CITY PARKS AND REC DEPT

    $8,640

    DAYCARE

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
19 February 2025
IRS schema version
2023v6.0
Source object
202510649349301511

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