Is it real?
Yes. Exemption reinstated (2013-05-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Jul 2014.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
99 cents of each dollar spent went to programs.
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
4 people listed on the 990.
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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
Promotes industrial and commercial growth in Powell by partnering with private businesses and providing financial incentives to create new local jobs.
Questions for Powell Development Corporation
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The organization enters into agreements with private business in order to bring jobs to the city of powell. When new jobs are created the business will receive offset payments from the organization.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $729K | $481K |
| Land, buildings, equipmentLn 10c | $1.2M | $1.2M |
| Total assetsLn 16 | $1.9M | $1.7M |
| LiabilitiesLn 26 | $592K | $296K |
| Net assetsLn 32 | $1.3M | $1.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $531K | $531K | ||
| Grants to domestic individualsLn 2 | $43K | $43K | ||
| Legal feesLn 11b | $6K | $3K | $3K | |
| Accounting feesLn 11c | $7K | $3K | $3K | |
| Advertising and promotionLn 12 | $150 | $150 | ||
| InsuranceLn 23 | $2K | $829 | $830 | |
| Other expenses (24a–d)Ln 24 | $120K | $120K | ||
| All other expensesLn 24e | $73K | $73K | ||
| Total functional expensesLn 25 | $782K | $775K | $7K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $830K | $782K | $49K | $1.4M | 990 PDF |
| FY2024 | $877K | $609K | $268K | $1.3M | 990 PDF |
| FY2023 | $678K | $93K | $585K | $1.1M | 990 PDF |
| FY2022 | $361K | $57K | $304K | $469K | 990 PDF |
| FY2021 | $28K | $99K | −$72K | $165K | 990 PDF |
| FY2020 | $306K | $163K | $143K | $237K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $830,390 revenue, 12 lines filed
Part VI · Governance 4 of 4 board members independent, 2 to look at
Part VIII · Statement of revenue $830,390 across 5 lines filed
Part IX · Statement of functional expenses $781,840 across 8 lines filed
Part X · Balance sheet $1,666,278 assets, 9 lines filed
Part XI · Reconciliation of net assets $1,370,028 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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