Greene County Development Corp

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To foster, encourage, and promote by financial or other means, the establishment and growth of industry and business in Greene County, iowa.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$69K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $42K a year · 17% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$69K
to officers and key staff · 25% of spending
Worth a look: pay to officers and key staff is 25% of spending; over 20%.
Pt VII · Sec A
14 mo
of spending, in cash
Looks good: 13.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $56K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$3K
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
33
of 33 voting members
Looks good: 33 of 33 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$250K
+26% vs prior year
Spent
$272K
To programs
0%
Net assets
$771K
By yearFY2020–FY2024
Revenue
$250K
FY2024▲ +26%
Tap a bar for its year
Revenue by fiscal year
FY2020$244K
FY2021$281K
FY2022$258K
FY2023$199K
FY2024$250K
Expenses
$272K
FY2024▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$212K
FY2021$241K
FY2022$440K
FY2023$276K
FY2024$272K
Net assets
$771K
FY2024▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.0M
FY2021$1.1M
FY2022$870K
FY2023$793K
FY2024$771K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1974.

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

Who runs it and what they're paid

34 people listed on the 990; $69K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$68,652Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Ex-Officio
$0Pt VII · Sec A
$0Pt VII · Sec A
Ex-Officio
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Ken Paxton$68,652$65,668$65,430$65,230$62,202

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Greene County Development Corp 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

Supports and grows businesses and industry in Greene County, Iowa.

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Provided by the organization

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3 programs · in their own filed words · FY2024
01

Participation in community development and economic development for greene county, iowa through commitments to developing housing, education, and opportunities to attract new employees and employers.

Pt IX · col B
02

To provide funds to major local employers for relocation assistance to attract new employees and families to the community, and to retain current families and alumni of the community.

Pt IX · col B
03

To provide funding to regional small business development council to attract and assist local entreprenuers with business startups.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$56K
Grants paid · 5 grants · $51K · 2020–2024
25 Chi CorpIA · FY2024$10,000
Gravitate CoworkingFY2021$15,000
Jefferson City View Properties LLCFY2021$10,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$250K
Ln 12
Gifts and grantsLn 1h$208K
Other incomeLn 4–11$42K
Investment incomeLn 3$986
Money outPt IX
$272K
Ln 25
Owns and owesPt X
$771K
net assets · Ln 32
Cash and savingsLn 1–2$309K
Total assetsLn 16$774K
LiabilitiesLn 26$3K
PeoplePt VI, VII
34
listed · VII A
PaidVII A1
Voting boardVI 1a33
IndependentVI 1b33
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$208K
Government grantsLn 1e$121K
Investment incomeLn 3$986
Other incomeLn 4–11$42K
Total revenueLn 12$250K
Assets in detailPt X, end of year
CashLn 1$192K
SavingsLn 2$118K
Cash and savings togetherLn 1–2$309K
InvestmentsLn 11–13$262K
Land, buildings, equipmentLn 10c$203K
Total assetsLn 16$774K
LiabilitiesLn 26$3K
Net assetsLn 32$771K
OperationsPt I, VI
EmployeesI 52
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$309K$309K
InvestmentsLn 11–13$276K$262K
Land, buildings, equipmentLn 10c$212K$203K
Total assetsLn 16$797K$774K
LiabilitiesLn 26$4K$3K
Net assetsLn 32$793K$771K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$20K
Other salaries and wagesLn 7$103K
Payroll taxesLn 10$8K
Legal feesLn 11b$4K
Other fees for servicesLn 11g$11K
Advertising and promotionLn 12$7K
Office expensesLn 13$5K
Information technologyLn 14$3K
OccupancyLn 16$15K
TravelLn 17$7K
Conferences, conventions and meetingsLn 19$5K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$82K
All other expensesLn 24e$350
Total functional expensesLn 25$272K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $250K$272K−$22K$771K 990 PDF
FY2023 $199K$276K−$77K$793K 990 PDF
FY2022 $258K$440K−$182K$870K 990 PDF
FY2021 $281K$241K$40K$1.1M 990 PDF
FY2020 $244K$212K$32K$1.0M 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 FY2024 990 (6 parts)
Part I · Summary $250,295 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $183,773$207,700
I-9 Program service revenue$0
I-10 Investment incomePrior year $5,624$986
I-11 Other revenuePrior year $9,117$41,609
I-12 Total revenuePrior year $198,514$250,295
I-13 Grants and similar amounts paidPrior year $26,786$19,612
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $105,507$110,956
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $143,387$141,380
I-18 Total expensesPrior year $275,680$271,948
I-19 Revenue less expensesPrior year −$77,166−$21,653
Part VI · Governance 33 of 33 board members independent, 1 to look at
VI-1a Voting members of the governing body33
VI-1b Independent voting members33
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-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $250,295 across 7 lines filed
VIII-1b Membership dues$19,306
VIII-1e Government grants$121,394
VIII-1f All other contributions, gifts and grants$67,000
VIII-1h Total contributions, gifts and grants$207,700
VIII-3 Investment incomeExcluded from tax $986$986
VIII-6 Net rental income or lossExcluded from tax $41,609$41,609
VIII-12 Total revenueExcluded from tax $42,595$250,295
Part IX · Statement of functional expenses $271,948 across 14 lines filed
IX-1 Grants to domestic organizations$19,612
IX-7 Other salaries and wages$102,731
IX-10 Payroll taxes$8,225
IX-11b Legal fees$3,862
IX-11g Other fees for services$11,381
IX-12 Advertising and promotion$7,416
IX-13 Office expenses$4,680
IX-14 Information technology$2,824
IX-16 Occupancy$14,766
IX-17 Travel$6,811
IX-19 Conferences, conventions and meetings$5,452
IX-23 Insurance$1,782
IX-24 Other expenses (24a–d)$82,056
IX-24e All other expenses$350
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$271,948
Part X · Balance sheet $774,349 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $192,225$191,549
X-2 Savings and temporary cash investmentsStart of year $116,766$117,751
X-10c Land, buildings and equipment, netStart of year $212,073$202,843
X-13 Program-related investmentsStart of year $275,811$262,206
X-16 Total assetsStart of year $796,875$774,349
X-17 Accounts payable and accrued expensesStart of year $4,219$3,346
X-26 Total liabilitiesStart of year $4,219$3,346
X-27 Net assets without donor restrictionsStart of year $792,656$771,003
X-32 Total net assets or fund balancesStart of year $792,656$771,003
X-33 Total liabilities and net assetsStart of year $796,875$774,349
Part XI · Reconciliation of net assets $771,003 net assets at year end
XI-1 Total revenue$250,295
XI-2 Total expenses$271,948
XI-3 Revenue less expenses−$21,653
XI-4 Net assets at start of year$792,656
XI-10 Net assets at end of year$771,003

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

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