Greene County Development Corp EIN 42-0927000 Form 990 (PDF) Claim this org

Greene County Development Corp FY2020 filing

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Form 990 for the fiscal year ending December 2020 (IRS tax year 2020).


Supports and grows businesses and industry in Greene County, Iowa. For fiscal year 2020 it reported $244K in revenue, $212K in expenses, and $1.0M in net assets.Pt I

Type
Business league / trade association · Nonprofit
Location
Jefferson, IA
Filings
5 on file (2020–2020)
Revenue
$244KFY2020
Expenses
$212K
Net assets
$1.0M
People
31
Filings
5
Updates
0
More identity details & actions ⌄
EIN  42-0927000 Business league / trade association Jefferson, IA
Form 990 (PDF)
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Size
$100K–1M
What they do
Supports and grows businesses and industry in Greene County, Iowa.
Leadership
Ken Paxton · Executive Di · $62K
Money in and out
$244K revenue, $212K expenses
Bottom line
+13% operating surplus
Membership & operating revenue · FY2020
Total revenue
$244K
Pt VIII · Ln 12
Total expenses
$212K
Pt IX · Ln 25
Net assets
$1.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $32K
Operating surplus
+13%
revenue over expenses
Earned revenue
0.4%
of revenue from program services & dues
Payroll share
40%
of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$244K
FY2020
Expenses
$212K
FY2020
Total assets
$1.1M
FY2020
Total liabilities
$60K
FY2020
Revenue less expensesPt I · Ln 19$32K
Total assetsPt X · Ln 16$1.1M
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 331
Independent voting membersPt I · Ln 431

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CGreene County Development Corp
EINHdr · item D42-0927000
Principal addressHdr · item CJefferson, IA
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFJan 1974

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a31
Independent voting membersPt VI · Ln 1b31
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Di
$62,202Pt 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
$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.

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Mission & Programs · Part III

Where the work happens

3 program services, described in the organization's own filed words · FY2020.
01

Participation in community development and economic development for greene county, iowa through commitments to developing housing 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

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Statement of Revenue

Part VIII
Contributions & grants120%$293K
Program service revenue$1K
— government grantsLn 1e$110K
Total revenueLn 12$244K

Balance Sheet

Part X · end of year
CashLn 1$357K
Total assetsLn 16$1.1M
Total liabilitiesLn 26$60K
Total net assetsLn 32$1.0M
Months of cash on handcomputed20.2

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $357K · Operating expenses/yr $212K
20.2 months
Where the money goes
Program services
Program services $0 · Total expenses $212K
not reported
Management & General
Management & general $0 · Total expenses $212K
not reported
Fundraising
Fundraising $0 · Total expenses $212K
not reported
Cost to raise $1
Fundraising expense $0 · Solicited contributions $183K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $293K · Total revenue $244K
120%
Government reliance
Government grants $110K · Total revenue $244K
45%
Earned-income share
Program service revenue $1K · Total revenue $244K
0.4%
Investment reliance
Investment income $-73K · Total revenue $244K
-30%
Program self-sufficiency
Program service revenue $1K · Total expenses $212K
0.5%
Growth & trend
Revenue growth (YoY)
This year $244K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $1.0M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $244K · Expenses $212K
+13%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1M
Net-asset ratio
Net assets $1.0M · Total assets $1.1M
94%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.1M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Ken Paxton · Reported title EXECUTIVE DI · Highest reported compensation $62K · Total expenses $212K
29%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $85K · Total expenses $212K
40%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Overhead ratio 0%
Fundraising cost ratio 0%
Accounting fee ratio 0.6%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$250K revenue · ⤓ 990 PDF
FY2023$199K revenue · ⤓ 990 PDF
FY2022$258K revenue · ⤓ 990 PDF
FY2021$281K revenue · ⤓ 990 PDF
FY2020$244K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
Names, privacy, and removal requests More

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