Ottumwa Economic Development

Ottumwa, IAUnknown exempt organizationEIN 42-0866300

To recruit, retain, and expand new and existing industry and business enterprises in ottumwa and wapello county

55¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
55%
of spending
Worth a look: 55% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$58K
Spent
$170K
To programs
55%
Net assets
$0

From the FY2020 Form 990 (year ending June 2020) · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2020.

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

Where the money goes

55 cents of each dollar spent went to programs.

Program services 55% · $94K Management & general 45% · $76K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
President
$0Pt VII · Sec A
See Ottumwa Economic Development 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

Attracts and keeps businesses in Ottumwa and Wapello County.

Provided by the organization

This section is blank until Ottumwa Economic Development claims this page.

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1 program service account for $94K of program spending, described in the organization's own filed words · FY2019.
01

To recruit, retain, and expand new and existing industry and business enterprises in ottumwa and wapello county.

$94Kprogram expense

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By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$58K
Ln 12
Gifts and grantsLn 1h$52K
Investment incomeLn 3$6K
Money outPt IX
$170K
Ln 25
Programscol B$94K
Managementcol C$76K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
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$52K
Government grantsLn 1e$30K
Investment incomeLn 3$6K
Total revenueLn 12$58K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Total assetsLn 16$884K$0
LiabilitiesLn 26$14K$0
Net assetsLn 32$870K$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$58K$58K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$8K$8K
OccupancyLn 16$2K$2K
TravelLn 17−$499−$499
Payments to affiliatesLn 21$78K$78K
Depreciation, depletion and amortizationLn 22$436$436
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$21K$14K$6K
All other expensesLn 24e$1K$215$1K
Total functional expensesLn 25$170K$94K$76K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $58K$170K−$112K$0 990 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 FY2020 990 (4 parts)
Part VIII · Statement of revenue $57,766 across 5 lines filed
VIII-1e Government grants$29,709
VIII-1f All other contributions, gifts and grants$21,857
VIII-1h Total contributions, gifts and grants$51,566
VIII-3 Investment incomeExcluded from tax $6,200$6,200
VIII-12 Total revenueExcluded from tax $6,200$57,766
Part IX · Statement of functional expenses $170,118 across 10 lines filed
IX-11c Accounting feesManagement $57,625$57,625
IX-12 Advertising and promotionPrograms $1,700$1,700
IX-13 Office expensesManagement $8,259$8,259
IX-16 OccupancyManagement $1,600$1,600
IX-17 TravelManagement −$499−$499
IX-21 Payments to affiliatesPrograms $77,967$77,967
IX-22 Depreciation, depletion and amortizationPrograms $436$436
IX-23 InsuranceManagement $1,243$1,243
IX-24 Other expenses (24a–d)Programs $14,080 · Management $6,422$20,502
IX-24e All other expensesPrograms $215 · Management $1,070$1,285
IX-25 Total functional expensesPrograms $94,398 · Management $75,720 · Fundraising $0$170,118
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $884,134$0
X-26 Total liabilitiesStart of year $13,893$0
X-32 Total net assets or fund balancesStart of year $870,241$0
X-33 Total liabilities and net assetsStart of year $884,134$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$57,766
XI-2 Total expenses$170,118
XI-3 Revenue less expenses−$112,352
XI-4 Net assets at start of year$870,241
XI-5 Net unrealized gains (losses) on investments$27,313
XI-9 Other changes in net assets−$785,202
XI-10 Net assets at end of year$0

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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