The Mason Schools Foundation is founded on the concept of helping the school district take students above and beyond in academics, arts and athletics. Since its inception, the Mason Schools Foundation has funded grants and innovative programs to help create extraordinary learning experiences in our schools. The Foundation plays an integral role in helping the district through times of massive changes in education by funding grants that enable innovation, teacher development and programs such as the MHS Foreign Language Lab, the MMS Coding and Robotics courses, Author Visits, STEAM and STEM Labs, Outdoor Classrooms and Diversity, Equity and Inclusion Initiatives. The Foundation ensures that no Mason student starts the school year without the school supplies they need and has helped more than 2,000 at-risk students.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $53K a year · 25% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
11 mo
of spending, in cash
Plus $1.1M in investments, Pt X · Ln 11–13
Looks good: 11.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $11K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$65K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$146K
Spent
$133K
To programs
80%
Net assets
$1.1M
By yearFY2021–FY2025
Revenue
$146K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$146K
FY2022$228K
FY2023$224K
FY2024$251K
FY2025$209K
Expenses
$133K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$133K
FY2022$159K
FY2023$160K
FY2024$195K
FY2025$149K
Net assets
$1.1M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$1.1M
FY2022$1.0M
FY2023$1.1M
FY2024$1.3M
FY2025$1.5M

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2008.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $106K Management & general 9% · $11K Fundraising 12% · $15K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Mason Schools Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds innovative programs and grants to enhance student learning in academics, arts, and athletics.

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2 programs · $106K · in their own filed words · FY2020
01

Annual Grants

MSF fuels innovation and activities that take students above and beyond across the district through the Innovative Catalyst grant. MSF ensures all students in need have the supplies they need to succeed when they start back to school and supports diversity, equity and inclusion work in the district by funding teacher training and…

$97Kprogram expense
02

School Partnership Grants

Innovative projects funded at grades K-6 included expanding building-wide Peace Corners (calming spaces and tools) at MECC, flexible seating and furnishings at all elementary buildings and books and instructional supplies.

$9Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
GE FoundationFY2023$290
Total grants receivedfrom 4 funders$11K
See all 4 funders →
Grants paid · 5 grants · $545K · 2020–2024
Mason City School DistrictFY2024$102,231
Mason City School DistrictFY2023$123,020
Mason City School DistrictFY2022$114,532
Mason City School DistrictFY2021$104,496
Mason City School DistrictFY2020$100,935

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$146K
Ln 12
Gifts and grantsLn 1h$123K
Investment incomeLn 3$23K
Money outPt IX
$133K
Ln 25
Programscol B$106K
Managementcol C$11K
Fundraisingcol D$15K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$125K
Total assetsLn 16$1.2M
LiabilitiesLn 26$65K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$123K
Investment incomeLn 3$23K
Gains on assetsLn 7$6K
Total revenueLn 12$146K
Assets in detailPt X, end of year
CashLn 1$99K
SavingsLn 2$26K
Cash and savings togetherLn 1–2$125K
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$1.2M
LiabilitiesLn 26$65K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 630
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$145K$125K
InvestmentsLn 11–13$798K$1.1M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$943K$1.2M
LiabilitiesLn 26$53K$65K
Net assetsLn 32$890K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$101K$101K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$2K$2K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$9K$9K
Other fees for servicesLn 11g$2K$2K$200
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$0
Information technologyLn 14$2K$2K
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$16K$232$15K
All other expensesLn 24e$0
Total functional expensesLn 25$133K$106K$11K$15K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $209K$149K$60K$1.5M 990 PDF
FY2024 $251K$195K$56K$1.3M 990 PDF
FY2023 $224K$160K$64K$1.1M 990 PDF
FY2022 $228K$159K$69K$1.0M 990 PDF
FY2021 Viewing $146K$133K$13K$1.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $146,134 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $178,848$122,795
I-9 Program service revenue$0
I-10 Investment incomePrior year $18,960$23,339
I-11 Other revenue$0
I-12 Total revenuePrior year $197,808$146,134
I-13 Grants and similar amounts paidPrior year $114,434$100,935
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $53,979$32,215
I-18 Total expensesPrior year $168,413$133,150
I-19 Revenue less expensesPrior year $29,395$12,984
Part VI · Governance 15 of 15 board members independent, 4 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $146,134 across 8 lines filed
VIII-1f All other contributions, gifts and grants$122,795
VIII-1h Total contributions, gifts and grants$122,795
VIII-3 Investment incomeExcluded from tax $17,349$17,349
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax $5,990$5,990
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueExcluded from tax $23,339$146,134
Part IX · Statement of functional expenses $133,150 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $100,935$100,935
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $1,525$1,525
IX-11d Lobbying fees$0
IX-11f Investment management feesManagement $8,538$8,538
IX-11g Other fees for servicesPrograms $1,595 · Management $200$1,795
IX-12 Advertising and promotionPrograms $1,984$1,984
IX-13 Office expenses$0
IX-14 Information technologyPrograms $1,720$1,720
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsuranceManagement $1,062$1,062
IX-24 Other expenses (24a–d)Programs $232 · Fundraising $15,359$15,591
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $106,466 · Management $11,325 · Fundraising $15,359$133,150
Part X · Balance sheet $1,198,009 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $118,904$98,946
X-2 Savings and temporary cash investmentsStart of year $26,381$26,386
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $797,960$1,072,677
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $943,245$1,198,009
X-18 Grants payableStart of year $52,834$64,630
X-26 Total liabilitiesStart of year $52,834$64,630
X-27 Net assets without donor restrictionsStart of year $890,411$1,133,379
X-32 Total net assets or fund balancesStart of year $890,411$1,133,379
X-33 Total liabilities and net assetsStart of year $943,245$1,198,009
Part XI · Reconciliation of net assets $1,133,379 net assets at year end
XI-1 Total revenue$146,134
XI-2 Total expenses$133,150
XI-3 Revenue less expenses$12,984
XI-4 Net assets at start of year$890,411
XI-5 Net unrealized gains (losses) on investments$229,984
XI-10 Net assets at end of year$1,133,379

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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