Waterloo Museum Society: Nonprofit Profile, Financials & Form 990 (EIN 37-1399761)

Revenue by fiscal year
FY2020	$12K
FY2021	$24K
FY2022	$22K
FY2023	$40K
FY2024	$24K

Expenses by fiscal year
FY2020	$15K
FY2021	$19K
FY2022	$16K
FY2023	$18K
FY2024	$25K

Net assets by fiscal year
FY2020	$646K
FY2021	$668K
FY2022	$642K
FY2023	$682K
FY2024	$696K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2000.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $25K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation

Norma Reheis

Board Member

$0Pt VII · Sec A

Mike Himstedt

Board Member

$0Pt VII · Sec A

Gene Henkler

Board Member

$0Pt VII · Sec A

Tom Smith

Board Member

$0Pt VII · Sec A

Judi Horrell

Board Member

$0Pt VII · Sec A

Claudia Asselmeier

Board Member

$0Pt VII · Sec A

Karyn Albers

Board Member

$0Pt VII · Sec A

Shelby Mathes

President

$0Pt VII · Sec A

See Waterloo Museum Society 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

Showcase local and American history through artifacts and educational programs.

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Provided by the organization

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1 program · $25K · in their own filed words · FY2024

01

Display of artifacts and presentations on various historical events.

$25Kprogram expense

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 · FY2020

William Zimmer Fmly Foundation 480003001FY2020$5K

Total grants receivedfrom 1 funder$5K

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$24K

Ln 12

Gifts and grantsLn 1h$15K

Investment incomeLn 3$5K

Other incomeLn 4–11$4K

Money outPt IX

$25K

Ln 25

Programscol B$25K

Owns and owesPt X

$696K

net assets · Ln 32

Cash and savingsLn 1–2$16K

Total assetsLn 16$696K

LiabilitiesLn 26$0

PeoplePt VI, VII

11

listed · VII A

PaidVII A0

Voting boardVI 1a11

IndependentVI 1b11

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$15K

Investment incomeLn 3$5K

Other incomeLn 4–11$4K

Total revenueLn 12$24K

Assets in detailPt X, end of year

CashLn 1$10K

SavingsLn 2$6K

Cash and savings togetherLn 1–2$16K

InvestmentsLn 11–13$171K

Land, buildings, equipmentLn 10c$509K

Total assetsLn 16$696K

LiabilitiesLn 26$0

Net assetsLn 32$696K

OperationsPt I, VI

EmployeesI 50

VolunteersI 625

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$45K	$16K
InvestmentsLn 11–13	$171K	$171K
Land, buildings, equipmentLn 10c	$465K	$509K
Total assetsLn 16	$682K	$696K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$682K	$696K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Advertising and promotionLn 12	$1K	$1K
Office expensesLn 13	$2K	$2K
Information technologyLn 14	$778	$778
OccupancyLn 16	$17K	$17K
InsuranceLn 23	$4K	$4K
Other expenses (24a–d)Ln 24	$634	$634
Total functional expensesLn 25	$25K	$25K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$24K	$25K	−$964	$696K	990 PDF
FY2023	$40K	$18K	$23K	$682K	990 PDF
FY2022	$22K	$16K	$5K	$642K	990 PDF
FY2021	$24K	$19K	$4K	$668K	990 PDF
FY2020	$12K	$15K	−$4K	$646K	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 FY2024 990 (6 parts)

Part I · Summary $23,715 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $35,263$14,793

I-9 Program service revenue$0

I-10 Investment incomePrior year $5,169$5,044

I-11 Other revenue$3,878

I-12 Total revenuePrior year $40,432$23,715

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 $17,782$24,679

I-18 Total expensesPrior year $17,782$24,679

I-19 Revenue less expensesPrior year $22,650−$964

Part VI · Governance 11 of 11 board members independent, 4 to look at

VI-1a Voting members of the governing body11

VI-1b Independent voting members11

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 $23,715 across 5 lines filed

VIII-1f All other contributions, gifts and grants$14,793

VIII-1h Total contributions, gifts and grants$14,793

VIII-3 Investment incomeRelated to mission $5,044$5,044

VIII-8 Net income from fundraising eventsExcluded from tax $3,878$3,878

VIII-12 Total revenueRelated to mission $5,044 · Unrelated business $0 · Excluded from tax $3,878$23,715

Part IX · Statement of functional expenses $24,679 across 6 lines filed

IX-12 Advertising and promotionPrograms $1,260$1,260

IX-13 Office expensesPrograms $1,631$1,631

IX-14 Information technologyPrograms $778$778

IX-16 OccupancyPrograms $16,866$16,866

IX-23 InsurancePrograms $3,510$3,510

IX-24 Other expenses (24a–d)Programs $634$634

IX-25 Total functional expensesPrograms $24,679 · Management $0 · Fundraising $0$24,679

Part X · Balance sheet $695,658 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $34,482$9,977

X-2 Savings and temporary cash investmentsStart of year $10,731$6,175

X-10c Land, buildings and equipment, netStart of year $465,294$508,793

X-11 Publicly traded securitiesStart of year $171,309$170,713

X-16 Total assetsStart of year $681,816$695,658

X-26 Total liabilitiesStart of year $0$0

X-32 Total net assets or fund balancesStart of year $681,816$695,658

X-33 Total liabilities and net assetsStart of year $681,816$695,658

Part XI · Reconciliation of net assets $695,658 net assets at year end

XI-1 Total revenue$23,715

XI-2 Total expenses$24,679

XI-3 Revenue less expenses−$964

XI-4 Net assets at start of year$681,816

XI-5 Net unrealized gains (losses) on investments$14,806

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$695,658

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Waterloo Museum Society

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Waterloo Museum Society

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV