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Potosi Foundation INC

Tax-deductible

Potosi, WI501(c)(3)Since 2000Arts & Culture EIN 39-2000608Revenue $326K in FY2025

On file with the IRSpotosibrewery.comPo Box 177, 53820-0177 · Potosi, WITax-exempt since Nov 2000Publicly supported charity — 170(b)(1)(A)(vi)

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To restore a historic landmark and to reconnect the community to part of its heritage. To develop a destination of historic and educational interest. To channel funds into its markets served to support historic and education-based initiatives as well as charitable causes, which truly make IT a socially responsible corporate citizen.

501(c)(3) charity; gifts are tax-deductible.
75¢ of each $1 spent went to programs.
Run by 130 volunteers and 7 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 surplus $19K a year · 4% of revenue · last 6 filings
Worth a look: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
75%
of spending
Looks good: 75% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $28K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$3.7M
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
16
of 17 voting members
Looks good: 16 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$326K
-5% vs prior year
Spent
$553K
To programs
75%
Net assets
$422K
By yearFY2020–FY2025
Revenue
$326K
FY2025▼ -5%
Tap a bar for its year
Revenue by fiscal year
FY2020$67K
FY2021$1.3M
FY2022$369K
FY2023$396K
FY2024$342K
FY2025$326K
Expenses
$553K
FY2025▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$314K
FY2021$331K
FY2022$465K
FY2023$496K
FY2024$491K
FY2025$553K
Net assets
$422K
FY2025▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020−$1.6M
FY2021$2K
FY2022$59K
FY2023$274K
FY2024$461K
FY2025$422K

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 Nov 2000.

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

Where the money goes

75 cents of each dollar spent went to programs.

Program services 75% · $417K Management & general 17% · $95K Fundraising 7% · $41K

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

17 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Ron Brey
Director
$0Pt VII · Sec A
Larry Kalina
Director
$0Pt VII · Sec A
Larry Bowden
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Downs
Treasurer
$0Pt VII · Sec A
Les Mack
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Potosi Foundation INC 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Restores a historic landmark, reconnecting the community to its heritage and supporting educational initiatives.

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Provided by the organization

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1 program · $417K · in their own filed words · FY2025
01

Promote awareness of heritage of the community through restoration of a historic landmark, the potosi brewery site. This site includes a national brewery museum and library, potosi brewery company transportation museum, and interpretive center for the great river road.

$417Kprogram 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 · FY2024
United Way of Dane County INCFY2024$20K
Les and Betty Mack Family Charitable Foundation INCFY2024$6K
Fritz Family Foundation INCFY2024$2K
Total grants receivedfrom 3 funders$28K
See all 3 funders →

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$326K
Ln 12
Gifts and grantsLn 1h$244K
Other incomeLn 4–11$62K
Fees for servicesLn 2g$20K
Money outPt IX
$553K
Ln 25
Programscol B$417K
Managementcol C$95K
Fundraisingcol D$41K
Owns and owesPt X
$422K
net assets · Ln 32
Cash and savingsLn 1–2$35K
Total assetsLn 16$4.1M
LiabilitiesLn 26$3.7M
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$244K
Noncash giftsLn 1g$2K
Fundraising eventsLn 1c$209K
Fees for servicesLn 2g$20K
Other incomeLn 4–11$62K
Total revenueLn 12$326K
Assets in detailPt X, end of year
CashLn 1$35K
Cash and savings togetherLn 1–2$35K
InvestmentsLn 11–13$31K
Land, buildings, equipmentLn 10c$3.9M
Other assetsLn 15$84K
Total assetsLn 16$4.1M
LiabilitiesLn 26$3.7M
Net assetsLn 32$422K
OperationsPt I, VI
EmployeesI 57
VolunteersI 6130
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$19K$35K
InvestmentsLn 11–13−$156K$31K
Land, buildings, equipmentLn 10c$4.0M$3.9M
Total assetsLn 16$4.1M$4.1M
LiabilitiesLn 26$3.6M$3.7M
Net assetsLn 32$461K$422K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$6K$6K
Other salaries and wagesLn 7$86K$54K$23K$9K
Payroll taxesLn 10$3K$2K$748$287
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$527$527
Information technologyLn 14$5K$5K
OccupancyLn 16$134K$89K$45K
InterestLn 20$77K$73K$4K
Depreciation, depletion and amortizationLn 22$178K$169K$9K
InsuranceLn 23$15K$13K$2K
Other expenses (24a–d)Ln 24$42K$5K$5K$32K
All other expensesLn 24e$4K$3K$460$37
Total functional expensesLn 25$553K$417K$95K$41K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $326K$553K−$227K$422K 990 PDF
FY2024 $342K$491K−$149K$461K 990 PDF
FY2023 $396K$496K−$100K$274K 990 PDF
FY2022 $369K$465K−$97K$59K 990 PDF
FY2021 $1.3M$331K$930K$2K 990 PDF
FY2020 $67K$314K−$247K−$1.6M 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 $326,449 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $168,675$244,059
I-9 Program service revenuePrior year $26,242$20,185
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $147,086$62,205
I-12 Total revenuePrior year $342,003$326,449
I-13 Grants and similar amounts paidPrior year $2,975$5,547
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $88,814$89,129
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $398,795$458,314
I-18 Total expensesPrior year $490,584$552,990
I-19 Revenue less expensesPrior year −$148,581−$226,541
Part VI · Governance 16 of 17 board members independent, 4 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $326,449 across 8 lines filed
Lines not itemized here account for $101,519 of total revenue; see the IRS return.
VIII-1c Fundraising events$209,219
VIII-1f All other contributions, gifts and grants$34,840
VIII-1g Noncash contributions (included above)$1,600
VIII-1h Total contributions, gifts and grants$244,059
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,185$20,185
VIII-8 Net income from fundraising eventsExcluded from tax −$39,404−$39,404
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $90$90
VIII-12 Total revenueRelated to mission $20,275 · Unrelated business $101,519 · Excluded from tax −$39,404$326,449
Part IX · Statement of functional expenses $552,990 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $5,547$5,547
IX-7 Other salaries and wagesPrograms $54,439 · Management $23,052 · Fundraising $8,837$86,328
IX-10 Payroll taxesPrograms $1,766 · Management $748 · Fundraising $287$2,801
IX-12 Advertising and promotionPrograms $2,230$2,230
IX-13 Office expensesManagement $527$527
IX-14 Information technologyManagement $5,084$5,084
IX-16 OccupancyPrograms $89,136 · Management $45,044$134,180
IX-20 InterestPrograms $73,386 · Management $3,863$77,249
IX-22 Depreciation, depletion and amortizationPrograms $168,977 · Management $8,893$177,870
IX-23 InsurancePrograms $13,307 · Management $1,645$14,952
IX-24 Other expenses (24a–d)Programs $5,040 · Management $5,457 · Fundraising $31,730$42,227
IX-24e All other expensesPrograms $3,498 · Management $460 · Fundraising $37$3,995
IX-25 Total functional expensesPrograms $417,326 · Management $94,773 · Fundraising $40,891$552,990
Part X · Balance sheet $4,130,859 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $18,906$35,197
X-4 Accounts receivableStart of year $4,901$8,779
X-8 Inventories for sale or useStart of year $107,124$111,801
X-9 Prepaid expenses and deferred chargesStart of year $20,850$8,792
X-10c Land, buildings and equipment, netStart of year $4,019,146$3,850,583
X-12 Other securitiesStart of year −$155,975$31,486
X-15 Other assetsStart of year $84,221$84,221
X-16 Total assetsStart of year $4,099,173$4,130,859
X-17 Accounts payable and accrued expensesStart of year $940,379$1,230,358
X-19 Deferred revenueStart of year $27,022$38,114
X-26 Total liabilitiesStart of year $3,638,207$3,708,972
X-27 Net assets without donor restrictionsStart of year $460,966$421,887
X-32 Total net assets or fund balancesStart of year $460,966$421,887
X-33 Total liabilities and net assetsStart of year $4,099,173$4,130,859
Part XI · Reconciliation of net assets $421,887 net assets at year end
XI-1 Total revenue$326,449
XI-2 Total expenses$552,990
XI-3 Revenue less expenses−$226,541
XI-4 Net assets at start of year$460,966
XI-9 Other changes in net assets$187,462
XI-10 Net assets at end of year$421,887

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

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