Form 990 for tax year 2023
Filed by HEART OF IOWA SCHOOL TUITION ORGANIZATION INC.
Totals
- Total revenue
- $1,989,092
- Total expenses
- $2,594,263
- Contributions and grants received
- $1,966,040
- Grants paid
- $2,583,094
- Program service revenue
- $0
- Investment income
- $23,052
- Other revenue
- $0
- Total assets, end of year
- $2,142,396
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $2,142,396
- Program services expenses (Part IX)
- $2,583,094
- Management and general expenses
- $11,169
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,583,094
Program services were 99.6% 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
$1,966,040
-
1g · Noncash contributions included above
$140,072
-
3 · Investment income
total $23,052 · excluded $23,052
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7d · Net gain or loss
total $0
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,583,094 · program services $2,583,094
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $0
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $0
-
10 · Payroll taxes
total $0
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $8,250 · management and general $8,250
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $1,323 · management and general $1,323
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $1,547 · management and general $1,547
-
14 · Information technology
total $0
-
15 · Royalties
total $0
-
16 · Occupancy
total $0
-
17 · Travel
total $0
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $0
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24a · Other expenses: BANK CHARGES
total $49 · management and general $49
-
24e · All other expenses
total $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,747,567 · end of year $2,142,396
-
2 · Savings and temporary cash investments
end of year $0
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
end of year $0
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
end of year $0
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
end of year $0
-
14 · Intangible assets
end of year $0
-
15 · Other assets
end of year $0
-
27 · Net assets without donor restrictions
beginning of year $458,765 · end of year $591,067
-
28 · Net assets with donor restrictions
beginning of year $2,288,802 · end of year $1,551,329
Mission and programs · 2023
Mission
ELEMENTARY & SECONDARY EDUCATION: THE ORGANIZATION DISTRIBUTES FROM FUNDS RAISED IN THE FORM OF SCHOLARSHIPS TO LOW INCOME FAMILIES. LOW INCOME IS DEFINED AS FAMILIES WITH INCOME LESS THAN FOUR TIMES THE POVERTY LEVEL FOR THEIR HOUSEHOLD. THE STATE REQUIRES THAT 90% OF THE FUNDS BE DISTRIBUTED TO THESE FAMILIES, WHICH IS ALWAYS COMPLIED WITH, BUT USUALLY AT LEAST 99% OF THE DONATIONS HAVE BEEN DISTRIBUTED TO STUDENTS ATTENDING STATE ACCREDITED NON-PUBLIC SCHOOLS.
-
ELEMENTARY & SECONDARY EDUCATION: THE STATE REQUIRES THAT 90% OF THE FUNDS RAISED FOR SCHOLARSHIPS BE DISTRIBUTED TO LOW INCOME FAMILIES ATTENDING STATE ACCREDITED NON-PUBLIC SCHOOLS WHICH HAS ALWAYS BEEN DONE BY THIS STO. THE ORGANIZATION DISTRIBUTED 99% OF THE FUNDS RAISED FOR SCHOLARSHIPS FOR LOW INCOME FAMILIES ATTENDING STATE ACCREDITED NON-PUBLIC SCHOOLS FOR THE SCHOOL YEAR COVERED BY THIS FORM 990.
Expenses $2,583,094 · Grants $2,583,094
As filed on the 2023 return.
Listed in Part VII
-
Glen SwansonGLEN SWANSON
Treasurer
- Total calculated
- $0
- Hours/week
- 10
-
Ryan HallRYAN HALL
Director
- Total calculated
- $0
- Hours/week
- 1
-
Kyle HarrisKYLE HARRIS
Director
- Total calculated
- $0
- Hours/week
- 1
-
Penni ChadderdonPENNI CHADDERDON
Director
- Total calculated
- $0
- Hours/week
- 1
-
Jacob HardimanJACOB HARDIMAN
Secretary
- Total calculated
- $0
- Hours/week
- 10
-
Josh KnightJOSH KNIGHT
Director
- Total calculated
- $0
- Hours/week
- 1
-
Amanda JordanAMANDA JORDAN
Director
- Total calculated
- $0
- Hours/week
- 1
-
Julia VeenstraJULIA VEENSTRA
Director
- Total calculated
- $0
- Hours/week
- 1
-
Dave LynchDAVE LYNCH
Director
- Total calculated
- $0
- Hours/week
- 1
-
Amy BradyAMY BRADY
Director
- Total calculated
- $0
- Hours/week
- 1
-
Cory EmilyCORY EMILY
Director
- Total calculated
- $0
- Hours/week
- 1
-
Tracy KingTRACY KING
Director
- Total calculated
- $0
- Hours/week
- 1
-
Karl StieglitzKARL STIEGLITZ
Director
- Total calculated
- $0
- Hours/week
- 1
-
Tyler TeskeTYLER TESKE
President
- Total calculated
- $0
- Hours/week
- 10
-
James StummeJAMES STUMME
Director
- Total calculated
- $0
- Hours/week
- 1
-
Mike WohlenhausMIKE WOHLENHAUS
Director
- Total calculated
- $0
- Hours/week
- 1
-
Lori BlakeLORI BLAKE
Director
- Total calculated
- $0
- Hours/week
- 1
-
Brett EricksonBRETT ERICKSON
Director
- Total calculated
- $0
- Hours/week
- 1
-
Timothy BigelowTIMOTHY BIGELOW
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
-
$676,215
TO PROVIDE STUDENT SCHOLARSHIPS
-
$340,926
TO PROVIDE STUDENT SCHOLARSHIPS
-
$304,913
TO PROVIDE STUDENT SCHOLARSHIPS
-
$234,752
TO PROVIDE STUDENT SCHOLARSHIPS
-
$178,502
TO PROVIDE STUDENT SCHOLARSHIPS
-
$129,450
TO PROVIDE STUDENT SCHOLARSHIPS
-
$128,188
TO PROVIDE STUDENT SCHOLARSHIPS
-
$124,735
TO PROVIDE STUDENT SCHOLARSHIPS
-
CEDAR VALLEY CHRISTIAN SCHOOL
$111,300
TO PROVIDE STUDENT SCHOLARSHIPS
-
$102,818
TO PROVIDE STUDENT SCHOLARSHIPS
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202443189349306094
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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