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Fayette County Industrial Development Corporation

Tax-deductible

Connersville, IN501(c)(3)Since 1986Community Development EIN 35-1700892Revenue $239K in FY2025

On file with the IRSedgconnersville.com410 N Central Ave, 47331-1926 · Connersville, INTax-exempt since Apr 1990Publicly supported charity — 170(b)(1)(A)(vi)

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To procure, develop, and operate land and properties in order to create job opportunities and foster the economic Development of connersville and Fayette County.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Run by 13 volunteers and 6 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

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FY2025 · 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
1 of 6
filings with a surplus
Average deficit $735K a year · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
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
Liabilities
$7K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$239K
-16% vs prior year
Spent
$285K
To programs
63%
Net assets
$3.4M
By yearFY2020–FY2025
Revenue
$239K
FY2025▼ -16%
Tap a bar for its year
Revenue by fiscal year
FY2020−$3.1M
FY2021$353K
FY2022$148K
FY2023$375K
FY2024$284K
FY2025$239K
Expenses
$285K
FY2025▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$863K
FY2021$553K
FY2022$268K
FY2023$502K
FY2024$257K
FY2025$285K
Net assets
$3.4M
FY2025▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.9M
FY2021$3.7M
FY2022$3.6M
FY2023$3.4M
FY2024$3.5M
FY2025$3.4M

From the FY2025 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1990.

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

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $181K Management & general 37% · $104K

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

12 people listed on the 990.

Part VII, Section A · reportable compensation
Tom Debaun
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Chad Frank
Director
$0Pt VII · Sec A
Georgia Green
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Diana Phillips
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
See Fayette County Industrial Development Corporation 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 15aYes

Programs and updates

Acquires and develops land to attract new businesses, create local jobs, and support economic growth in Connersville and Fayette County.

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Provided by the organization

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2 programs · $181K · in their own filed words · FY2025
01

The activities include job growth for the unemployed and economically disadvantaged through local manufacturing expansion.

$126Kprogram expense
02

The organization has assisted several businesses in the industrial park and throughout the county of opportunities in connersville.

$55Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 72 grants · $1.0M · 2020–2023
Unitemized GrantFY2023$41,874
Ben Com Distributors INCFY2023$10,000
Advantage Wire and Machine INCFY2023$10,000
Tatman INCFY2023$10,000
McCombs & Son CompanyFY2023$10,000
Riedman Motors Co INCFY2023$10,000
Yodie's Frozen GoodnessFY2023$10,000
The Woodridge InnFY2023$10,000
Reliant Biomedical Services LLCFY2023$10,000
Phelps General ContractingFY2023$10,000
Parts Pro Automotive & Performance LLCFY2023$10,000
Papermoon DesignsFY2023$10,000
Moore Precision Machining LLCFY2023$10,000
Jonesy's LLCFY2023$10,000
John R Roberts DDSFY2023$10,000
Jacobs & Brichford LLCFY2023$10,000
FoxycutsFY2023$10,000
Day's Martial ArtsFY2023$10,000
See all 72 grants →

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$239K
Ln 12
Gifts and grantsLn 1h$195K
Investment incomeLn 3$57K
Money outPt IX
$285K
Ln 25
Programscol B$181K
Managementcol C$104K
Owns and owesPt X
$3.4M
net assets · Ln 32
Cash and savingsLn 1–2$900K
Total assetsLn 16$3.4M
LiabilitiesLn 26$7K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$195K
Government grantsLn 1e$175K
Investment incomeLn 3$57K
Gains on assetsLn 7$9K
Total revenueLn 12$239K
Assets in detailPt X, end of year
CashLn 1$781K
SavingsLn 2$118K
Cash and savings togetherLn 1–2$900K
Land, buildings, equipmentLn 10c$2.2M
Other assetsLn 15$285
Total assetsLn 16$3.4M
LiabilitiesLn 26$7K
Net assetsLn 32$3.4M
OperationsPt I, VI
EmployeesI 56
VolunteersI 613
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1.0M$900K
Land, buildings, equipmentLn 10c$2.3M$2.2M
Total assetsLn 16$3.5M$3.4M
LiabilitiesLn 26$8K$7K
Net assetsLn 32$3.5M$3.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$131K$79K$52K
Payroll taxesLn 10$13K$8K$5K
Legal feesLn 11b$500$500
Accounting feesLn 11c$15K$15K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$4K$4K
Information technologyLn 14$5K$5K
OccupancyLn 16$5K$5K
TravelLn 17$4K$2K$1K
Conferences, conventions and meetingsLn 19$3K$3K
Depreciation, depletion and amortizationLn 22$84K$72K$12K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$16K$14K$2K
Total functional expensesLn 25$285K$181K$104K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $239K$285K−$46K$3.4M 990 PDF
FY2024 $284K$257K$27K$3.5M 990 PDF
FY2023 $375K$502K−$127K$3.4M 990 PDF
FY2022 $148K$268K−$120K$3.6M 990 PDF
FY2021 $353K$553K−$200K$3.7M 990 PDF
FY2020 −$3.1M$863K−$3.9M$3.9M 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 FY2025 990 (6 parts)
Part I · Summary $238,882 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $98,000$195,000
I-9 Program service revenue$0
I-10 Investment incomePrior year $46,783$57,411
I-11 Other revenuePrior year $139,226−$13,529
I-12 Total revenuePrior year $284,009$238,882
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $140,075$144,274
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $117,034$140,891
I-18 Total expensesPrior year $257,109$285,165
I-19 Revenue less expensesPrior year $26,900−$46,283
Part VI · Governance 12 of 12 board members independent, 2 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $238,882 across 8 lines filed
VIII-1e Government grants$175,000
VIII-1f All other contributions, gifts and grants$20,000
VIII-1h Total contributions, gifts and grants$195,000
VIII-3 Investment incomeRelated to mission $48,420$48,420
VIII-6 Net rental income or lossRelated to mission −$32,736−$32,736
VIII-7 Net gain or loss on sales of assetsRelated to mission $8,991$8,991
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $19,207$19,207
VIII-12 Total revenueRelated to mission $43,882$238,882
Part IX · Statement of functional expenses $285,165 across 13 lines filed
IX-7 Other salaries and wagesPrograms $78,641 · Management $52,428$131,069
IX-10 Payroll taxesPrograms $7,923 · Management $5,282$13,205
IX-11b Legal feesPrograms $500$500
IX-11c Accounting feesManagement $14,895$14,895
IX-12 Advertising and promotionPrograms $3,334$3,334
IX-13 Office expensesManagement $4,258$4,258
IX-14 Information technologyManagement $5,117$5,117
IX-16 OccupancyManagement $4,968$4,968
IX-17 TravelPrograms $2,226 · Management $1,484$3,710
IX-19 Conferences, conventions and meetingsPrograms $2,861$2,861
IX-22 Depreciation, depletion and amortizationPrograms $71,520 · Management $12,036$83,556
IX-23 InsuranceManagement $1,527$1,527
IX-24 Other expenses (24a–d)Programs $13,873 · Management $2,292$16,165
IX-25 Total functional expensesPrograms $180,878 · Management $104,287 · Fundraising $0$285,165
Part X · Balance sheet $3,418,059 assets, 11 lines filed
Asset lines not itemized here account for $320,905; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $905,463$781,223
X-2 Savings and temporary cash investmentsStart of year $113,187$118,348
X-4 Accounts receivableStart of year $964$1,637
X-10c Land, buildings and equipment, netStart of year $2,252,928$2,195,661
X-15 Other assetsStart of year $285$285
X-16 Total assetsStart of year $3,465,280$3,418,059
X-25 Other liabilitiesStart of year $8,313$7,375
X-26 Total liabilitiesStart of year $8,313$7,375
X-27 Net assets without donor restrictionsStart of year $3,456,967$3,410,684
X-32 Total net assets or fund balancesStart of year $3,456,967$3,410,684
X-33 Total liabilities and net assetsStart of year $3,465,280$3,418,059
Part XI · Reconciliation of net assets $3,410,684 net assets at year end
XI-1 Total revenue$238,882
XI-2 Total expenses$285,165
XI-3 Revenue less expenses−$46,283
XI-4 Net assets at start of year$3,456,967
XI-10 Net assets at end of year$3,410,684

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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