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← COMMUNITY FOUNDATION OF GREATER MUSCATINE

Form 990 for tax year 2023

Filed by COMMUNITY FOUNDATION OF GREATER MUSCATINE.

Totals

Total revenue
$13,198,616
Total expenses
$4,824,128
Contributions and grants received
$11,167,559
Grants paid
$2,760,873
Program service revenue
$0
Investment income
$1,842,057
Other revenue
$189,000
Total assets, end of year
$76,813,705
Total liabilities, end of year
$5,321,681
Net assets or fund balances, end of year
$71,492,024
Program services expenses (Part IX)
$3,714,151
Management and general expenses
$1,109,977
Fundraising expenses
$0
Program service expenses (Part III)
$3,714,151

Program services were 77.0% 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.

  • 1e · Government grants (contributions)

    $672,827

  • 1f · All other contributions, gifts and grants

    $10,494,732

  • 1g · Noncash contributions included above

    $448,274

  • 3 · Investment income

    total $1,850,750 · excluded $1,850,750

  • 6a · Gross rents

    real property $189,000

  • 6c · Rental income or loss

    real property $189,000

  • 6d · Net rental income or loss

    total $189,000 · related or exempt $189,000

  • 7a · Gross sales of assets other than inventory

    securities $1,182,724 · other assets $64,409

  • 7b · Less cost or other basis and sales expenses

    securities $1,195,439 · other assets $60,387

  • 7c · Gain or loss

    securities -$12,715 · other assets $4,022

  • 7d · Net gain or loss

    total -$8,693 · related or exempt $4,022 · excluded -$12,715

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,253,948 · program services $2,253,948

  • 2 · Grants to domestic individuals

    total $506,925 · program services $506,925

  • 5 · Compensation of officers, directors and key employees

    total $118,038 · management and general $118,038

  • 7 · Other salaries and wages

    total $557,635 · management and general $557,635

  • 8 · Pension plan contributions

    total $59,411 · management and general $59,411

  • 9 · Other employee benefits

    total $102,400 · management and general $102,400

  • 11c · Fees: accounting

    total $27,693 · management and general $27,693

  • 12 · Advertising and promotion

    total $44,261 · management and general $44,261

  • 13 · Office expenses

    total $76,819 · management and general $76,819

  • 16 · Occupancy

    total $36,639 · management and general $36,639

  • 22 · Depreciation, depletion and amortization

    total $38,937 · management and general $38,937

  • 23 · Insurance

    total $31,263 · management and general $31,263

  • 24a · Other expenses: PROGRAM EXPENSES

    total $953,278 · program services $953,278

  • 24b · Other expenses: PROFESSIONAL ASSOCIATIONS

    total $9,031 · management and general $9,031

  • 24c · Other expenses: SUBSCRIPTIONS

    total $6,231 · management and general $6,231

  • 24d · Other expenses: MEALS & ENTERTAINMENT

    total $1,619 · management and general $1,619

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $32,973,360 · end of year $45,733,261

  • 3 · Pledges and grants receivable

    end of year $4,845,345

  • 4 · Accounts receivable

    beginning of year $29,856 · end of year $7,157

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

    $728,299

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

    $52,180

  • 10c · Land, buildings and equipment, net

    beginning of year $533,374 · end of year $676,119

  • 11 · Investments: publicly traded securities

    beginning of year $20,418,312 · end of year $14,453,028

  • 13 · Investments: program-related

    beginning of year $4,412,010 · end of year $11,011,100

  • 15 · Other assets

    beginning of year $21,482 · end of year $87,695

  • 17 · Accounts payable and accrued expenses

    beginning of year $92,691 · end of year $945,931

  • 19 · Deferred revenue

    end of year $15,750

  • 23 · Secured mortgages and notes payable

    end of year $4,360,000

  • 27 · Net assets without donor restrictions

    beginning of year $7,443,201 · end of year $14,899,933

  • 28 · Net assets with donor restrictions

    beginning of year $50,852,502 · end of year $56,592,091

Mission and programs · 2023

Mission

THE COMMUNITY FOUNDATION OF GREATER MUSCATINE'S MISSION IS TO ACTIVELY WORK TO IMPROVE THE QUALITY OF LIFE IN MUSCATINE COUNTY THROUGH PHILANTHROPY.

  • GRANTS AND DONATIONS MADE TO CHARITABLE ORGANIZATIONS WITHIN THE GREATER MUSCATINE AREA WHICH PROMOTES THE EXEMPT PURPOSE OF THE ORGANIZATION. THE ORGANIZATION ALSO PROVIDES POST-SECONDARY SCHOLARSHIPS FOR STUDENTS ATTENDING AREA HIGH SCHOOLS AND MUSCATINE COMMUNITY COLLEGE.

    Expenses $3,714,151 · Grants $2,760,873

As filed on the 2023 return.

Listed in Part VII

  • Charla Schafer

    PRESIDENT

    Total calculated
    $152,462
    From this org
    $118,038
    From related orgs
    $0
    Other
    $34,424
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,038
    Bonus
    not reported
    Other
    not reported
    Deferred
    $34,424
    Nontaxable benefits
    not reported
    Filer's total
    $152,462

  • Brandon Bullock

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Naomi Dewinter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rich Dwyer

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Angela Johnson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cindy Mays

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brett Nelson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rachel Pohl

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Keith Porter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jodi Royal-Goodwin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Dan Stein

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jessica Susie

    BOARD MEMBER

    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WEST LIBERTY FUND LLC

    IA · income -$60,000 · assets $1,682,000

  • MUSCATINE HEALTH SUPPORT FUND LLC

    IA · assets $2,130,000

  • COMMUNITY FOUNDATION REAL ESTATE LL

    IA · income $405,000 · assets $436,000

  • FRONT STREET HOLDINGS LLC

    IA · income $56,000 · assets $226,000

Provenance

Return type
form_990
Tax year
2023
Filed
24 October 2024
IRS schema version
2023v5.0
Source object
202403039349301250

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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