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Plainview Area Development Corporation FY2021 filing

Not tax-deductible

Plainview, MN501(c)(6)Community DevelopmentEIN 41-1506363Revenue $1K in FY2021

On file with the IRS100 4th Avenue Se, 55964-2501 · Plainview, MNTax-exempt since Mar 2014

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To provide the consistent, managed, private leadership that will create economic opportunities for existing businesses and provide the resources and capabilities to attract new businesses, housing expansion and business sectors to the Area.

Mission: Form 990 Part I, line 1

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $65K a year · 99% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
2053 mo
of spending, in cash
Looks good: 2052.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1K
-99% vs prior year
Spent
$1K
To programs
0%
Net assets
$539K
By yearFY2020–FY2022
Revenue
$1K
FY2021▼ -99%
Tap a bar for its year
Revenue by fiscal year
FY2020$185K
FY2021$1K
FY2022$11K
Expenses
$1K
FY2021▲ +503%
Tap a bar for its year
Expenses by fiscal year
FY2020$212
FY2021$1K
FY2022$361
Net assets
$539K
FY2021+0.04%
Tap a bar for its year
Net assets by fiscal year
FY2020$538K
FY2021$539K
FY2022$549K

From the FY2021 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2022. IRS ruling in Mar 2014.

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

Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Tom Weiner
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Jolene Harvey
Treasurer
$0Pt VII · Sec A
Jay Holst
Secretary
$0Pt VII · Sec A
See Plainview Area 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 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Develops businesses and creates jobs by attracting new companies and supporting existing ones.

Questions for Plainview Area Development Corporation

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Provided by the organization

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2 programs · in their own filed words · FY2021
01

To cooperate with and aid other corporations, societies, and associations organized and operated for the promotin of civic purposes, community welfare, general welfare and social welfare in and around plainview, minnesota.

Pt IX · col B
02

To increase employment and alleviate unemployment in and around plainview, minnesota by the encouragement of the location of business entities in the area which will employ local residents.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1K
Ln 12
Gifts and grantsLn 1h$850
Investment incomeLn 3$619
Money outPt IX
$1K
Ln 25
Owns and owesPt X
$539K
net assets · Ln 32
Cash and savingsLn 1–2$219K
Total assetsLn 16$539K
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$850
Investment incomeLn 3$619
Gains on assetsLn 7−$21
Total revenueLn 12$1K
Assets in detailPt X, end of year
CashLn 1$58K
SavingsLn 2$160K
Cash and savings togetherLn 1–2$219K
Land, buildings, equipmentLn 10c$150K
Total assetsLn 16$539K
LiabilitiesLn 26$0
Net assetsLn 32$539K
OperationsPt I, VI
EmployeesI 50
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 FY21End FY21
Cash and savingsLn 1–2$368K$219K
Land, buildings, equipmentLn 10c$171K$150K
Total assetsLn 16$538K$539K
LiabilitiesLn 26$0$0
Net assetsLn 32$538K$539K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
OccupancyLn 16$1K
Total functional expensesLn 25$1K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $11K$361$10K$549K 990 PDF
FY2021 Viewing $1K$1K$191$539K 990 PDF
FY2020 $185K$212$185K$538K 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 FY2021 990 (6 parts)
Part I · Summary $1,469 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $182,900$850
I-9 Program service revenue$0
I-10 Investment incomePrior year $1,960$619
I-11 Other revenue$0
I-12 Total revenuePrior year $184,860$1,469
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 $212$1,278
I-18 Total expensesPrior year $212$1,278
I-19 Revenue less expensesPrior year $184,648$191
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $1,469 across 5 lines filed
VIII-1b Membership dues$850
VIII-1h Total contributions, gifts and grants$850
VIII-3 Investment incomeRelated to mission $640$640
VIII-7 Net gain or loss on sales of assetsRelated to mission −$21−$21
VIII-12 Total revenueRelated to mission $619$1,469
Part IX · Statement of functional expenses $1,278 across 1 line filed
IX-16 Occupancy$1,278
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$1,278
Part X · Balance sheet $538,662 assets, 8 lines filed
Asset lines not itemized here account for $170,500; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $208,138$58,167
X-2 Savings and temporary cash investmentsStart of year $159,813$160,453
X-10c Land, buildings and equipment, netStart of year $170,520$149,542
X-16 Total assetsStart of year $538,471$538,662
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $538,471$538,662
X-32 Total net assets or fund balancesStart of year $538,471$538,662
X-33 Total liabilities and net assetsStart of year $538,471$538,662
Part XI · Reconciliation of net assets $538,662 net assets at year end
XI-1 Total revenue$1,469
XI-2 Total expenses$1,278
XI-3 Revenue less expenses$191
XI-4 Net assets at start of year$538,471
XI-10 Net assets at end of year$538,662

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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