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Nonprofiteer
← IOWA SOCCER DEVELOPMENT FOUNDATION INC

Form 990 for tax year 2023

Filed by IOWA SOCCER DEVELOPMENT FOUNDATION INC.

Totals

Total revenue
$1,104,364
Total expenses
$82,264
Contributions and grants received
$1,104,364
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$4,469,140
Total liabilities, end of year
$29,356
Net assets or fund balances, end of year
$4,439,784
Program services expenses (Part IX)
$51,788
Management and general expenses
$4,095
Fundraising expenses
$26,381
Program service expenses (Part III)
$51,788

Program services were 63.0% 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

    $1,104,364

Functional expenses

Part IX, the statement of functional expenses.

  • 11c · Fees: accounting

    total $4,042 · management and general $4,042

  • 11e · Fees: professional fundraising services

    total $22,500 · fundraising $22,500

  • 11g · Fees: other

    total $3,881 · fundraising $3,881

  • 12 · Advertising and promotion

    total $50,067 · program services $50,067

  • 24e · All other expenses

    total $1,774 · program services $1,721 · management and general $53

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $336,846 · end of year $128,541

  • 15 · Other assets

    beginning of year $3,198,105 · end of year $4,340,599

  • 17 · Accounts payable and accrued expenses

    beginning of year $117,267 · end of year $29,356

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $3,417,684 · end of year $4,439,784

Mission and programs · 2023

Mission

IOWA SOCCER DEVEOPMENT FOUNDATION (ISDF) WILL PROVIDE A LOCAL SOCCER-SPECIFIC SPORTING VENUE CAPABLE OF HOSTING SPORTING EVENTS FOR THE DES MOINES COMMUNITY, WHICH WILL BE USED TO EDUCATE YOUTH AND SUPPORT THE DEVELOPMENT OF AMATEUR ATHLETICS FOR NATIONAL AND INTERNATIONAL COMPETITION IN SPORTS. THE VENUE MAY BE USED BY ISDF TO HOST OTHER COMMUNITY EVENTS SUCH AS PUBLIC FESTIVALS, PERFORMANCES AND MARKETS. BY CONSTRUCTING THE VENUE ON BEHALF OF THE DES MOINES COMMUNITY, ISDF SEEKS TO (I) ELIMINATE EXISTING BLIGHT, (II) CREATE JOBS FOR UNEMPLOYED AND UNDEREMPLOYED INDIVIDUALS IN DES MOINES, (III) COMBAT COMMUNITY DETERIORATION BY ATTRACTING ADDITIONAL ECONOMIC ACTIVITY TO DES MOINES, (IV) LESSEN THE BURDENS OF GOVERNMENT, (V) EDUCATE YOUTH THROUGH SPORTS COMPETITION, AND (VI) FOSTER NATIONAL AND INTERNATIONAL AMATEUR SPORTS COMPETITION.

Activities or mission (Part I)

THE IOWA SOCCER DEVELOPMENT FOUNDATION WAS CREATED TO DESIGN AND BUILD A MULTI-USE SOCCER STADIUM AND PLAZA TO ENERGIZE IOWA'S ECONOMY, UNITE PEOPLE THROUGH SHARED EXPERIENCES AND PROVIDE OPPORTUNITIES FOR UNDERSERVED AT-RISK YOUTH TO EXPERIENCE THE GLOBAL GAME OF SOCCER. THE IOWA SOCCER DEVELOPMENT FOUNDATION WILL OWN THE PRO IOWA STADIUM AND GLOBAL PLAZA WHEN COMPLETED.

  • ISDF IS PLANNING AND DESIGNING A MULTI-USE SOCCER STADIUM AND PLAZA (VENUE) CAPABLE OF HOSTING EVENTS IN THE DES MOINES COMMUNITY. THE VENUE HAS BEEN APPROVED TO BE CONSTRUCTED ON A U.S. EPA SUPERFUND SITE THAT HAS BEEN VACANT AND NEGLECTED FOR OVER 20 YEARS. BY CONSTRUCTING THE VENUE ON THE SUPERFUND SITE, IDSF'S OBJECTIVE IS TO REVITALIZE THE CURRENTLY DEPRESSED AREA SURRONDING THE SUPERFUND SITE BY ATTRACTING ADDITIONAL BUSINESSES, CREATING JOBS AND REDUCING CRIME IN THE AREA.

    Expenses $51,788

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

Listed in Part VII

  • KYLE KRAUSE

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • CHARLES CAMPBELL

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • DANIEL KEOUGH

    DIRECTOR

    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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
29 October 2024
IRS schema version
2023v5.1
Source object
202433059349302378

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