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Cherokee Community Foundation FY2023 filing

Tax-deductible

Cherokee, IA501(c)(3)Since 2000Foundations & GrantmakersEIN 30-0036983Revenue $139K in FY2023

On file with the IRS416 W Main St, 51012-1735 · Cherokee, IATax-exempt since Mar 2002Publicly supported charity — 170(b)(1)(A)(vi)

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To enhance and develop quality of life activities within the city of Cherokee, IA

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
4 of 6
filings with a surplus
Average deficit $36K a year · 15% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
38 mo
of spending, in cash
Looks good: 37.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $14K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$139K
-49% vs prior year
Spent
$97K
To programs
100%
Net assets
$306K
By yearFY2020–FY2025
Revenue
$139K
FY2023▼ -49%
Tap a bar for its year
Revenue by fiscal year
FY2020$274K
FY2021$503K
FY2022$275K
FY2023$139K
FY2024$209K
FY2025$64K
Expenses
$97K
FY2023▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$178K
FY2021$820K
FY2022$103K
FY2023$97K
FY2024$449K
FY2025$35K
Net assets
$306K
FY2023▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$423K
FY2021$90K
FY2022$262K
FY2023$306K
FY2024$68K
FY2025$98K

From the FY2023 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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 Mar 2002.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $97K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Lorna Kohn
Director
$0Pt VII · Sec A
Eric List
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Sara Lucas
Secretary/Tr
$0Pt VII · Sec A
See Cherokee Community 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

Improves quality of life facilities and activities in Cherokee, Iowa.

Questions for Cherokee Community Foundation

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Provided by the organization

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3 programs · in their own filed words · FY2023
01

Magnetic Park

Engineering, construction and equipment costs for the development of a 2.25 mile recreational, paved trail to include outdoor classrooms, historic recognitions sites, pollination gardens and a rustic playground area - grant income reported on part viii

Pt IX · col B
02

Toys for Tots

Purchase toys and clothing for needy children to be distributed during the christmas season - income reported on part viii

Pt IX · col B
03

Skate Park

Engineering, construction and equipment costs for the development of a skate park - income reported on part viii

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$14K
Total grants receivedfrom 1 funder$14K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$139K
Ln 12
Gifts and grantsLn 1h$137K
Investment incomeLn 3$3K
Money outPt IX
$97K
Ln 25
Programscol B$97K
Owns and owesPt X
$306K
net assets · Ln 32
Cash and savingsLn 1–2$306K
Total assetsLn 16$306K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$137K
Government grantsLn 1e$12K
Investment incomeLn 3$3K
Total revenueLn 12$139K
Assets in detailPt X, end of year
CashLn 1$114K
SavingsLn 2$192K
Cash and savings togetherLn 1–2$306K
Total assetsLn 16$306K
LiabilitiesLn 26$0
Net assetsLn 32$306K
OperationsPt I, VI
EmployeesI 50
VolunteersI 630
Fiscal year endsHeaderDecember
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 FY23End FY23
Cash and savingsLn 1–2$262K$306K
Total assetsLn 16$262K$306K
LiabilitiesLn 26$0$0
Net assetsLn 32$262K$306K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$350$350
Advertising and promotionLn 12$1K$1K
Conferences, conventions and meetingsLn 19$200$200
Other expenses (24a–d)Ln 24$89K$89K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$97K$97K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $64K$35K$29K$98K 990 PDF
FY2024 $209K$449K−$240K$68K 990 PDF
FY2023 Viewing $139K$97K$42K$306K 990 PDF
FY2022 $275K$103K$172K$262K 990 PDF
FY2021 $503K$820K−$318K$90K 990 PDF
FY2020 $274K$178K$97K$423K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $139,373 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $275,208$136,694
I-9 Program service revenue$0
I-10 Investment incomePrior year $203$2,679
I-11 Other revenue$0
I-12 Total revenuePrior year $275,411$139,373
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $103,442$97,091
I-18 Total expensesPrior year $103,442$97,091
I-19 Revenue less expensesPrior year $171,969$42,282
Part VI · Governance 0 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
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 $139,373 across 5 lines filed
VIII-1e Government grants$12,000
VIII-1f All other contributions, gifts and grants$124,694
VIII-1h Total contributions, gifts and grants$136,694
VIII-3 Investment incomeRelated to mission $2,679$2,679
VIII-12 Total revenueRelated to mission $2,679$139,373
Part IX · Statement of functional expenses $97,091 across 5 lines filed
IX-11c Accounting feesPrograms $350$350
IX-12 Advertising and promotionPrograms $1,032$1,032
IX-19 Conferences, conventions and meetingsPrograms $200$200
IX-24 Other expenses (24a–d)Programs $89,259$89,259
IX-24e All other expensesPrograms $6,250$6,250
IX-25 Total functional expensesPrograms $97,091 · Management $0 · Fundraising $0$97,091
Part X · Balance sheet $306,500 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $261,658$114,029
X-2 Savings and temporary cash investments$192,471
X-16 Total assetsStart of year $261,658$306,500
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $261,658$306,500
X-33 Total liabilities and net assetsStart of year $261,658$306,500
Part XI · Reconciliation of net assets $306,500 net assets at year end
XI-1 Total revenue$139,373
XI-2 Total expenses$97,091
XI-3 Revenue less expenses$42,282
XI-4 Net assets at start of year$261,658
XI-8 Prior period adjustments$2,560
XI-10 Net assets at end of year$306,500

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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