Greene County Development Corp FY2021 filing

EIN 42-0927000 Business league / trade association Jefferson, IA
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Revenue & expenses by yearFY2020–FY2024
Revenue
$281K
FY2021▲ +15%
Expenses
$241K
FY2021▲ +14%

Form 990 for the fiscal year ending December 2021 (IRS tax year 2021).


Supports and grows businesses and industry in Greene County, Iowa. For fiscal year 2021 it reported $281K in revenue, $241K in expenses, and $1.1M in net assets.Pt I

Type
Business league / trade association · Nonprofit
Location
Jefferson, IA
Filings
5 on file (2020–2021)
Revenue
$281KFY2021
Expenses
$241K
Net assets
$1.1M
People
30
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →
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Provided by the organization

This section is blank until Greene County Development Corp claims this page.

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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 · $65K
Money in and out
$281K revenue, $241K expenses
Bottom line
+14% operating surplus

What Funders Ask

From IRS filings

Tax-deductible?

warning No

Per the IRS master file. Details →

Can I give now?

good Yes

Not on the IRS revocation list. Details →

Filing up to date?

good Filed FY2024 (typical filing lag)

Details →

Foundation funders?

good 1 funder — Grow Greene County Gaming Corporation

$56K in the latest grant year. Details →

Spent on programs?

critical 0% to programs

Form 990 Part IX, latest filing. Details →

Size and trend

$100K–1M

↑ +15% vs prior year Details →

Membership & operating revenue · FY2021
Total revenue
$281K
Pt VIII · Ln 12
Total expenses
$241K
Pt IX · Ln 25
Net assets
$1.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $40K
Operating surplus
+14%
revenue over expenses
Earned revenue
5%
of revenue from program services & dues
Payroll share
39%
of spending is salaries & benefits

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Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$1.1M
FY2021▲ +3%
Total liabilities
$56K
FY2021▼ -6%
Revenue less expensesPt I · Ln 19$40K
Total assetsPt X · Ln 16$1.1M
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 330
Independent voting membersPt I · Ln 430

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · 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 1a30
Independent voting membersPt VI · Ln 1b30
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
$65,230Pt 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 · FY2021.
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 & grants$232K · 82%
Other revenue$35K · 13%
Program service revenue$14K · 5%
Contributions & grants82%$232K
Other revenue13%$35K
Program service revenue5%$14K
Investment income$422
— government grantsLn 1e$100K
Total revenueLn 12$281K

Balance Sheet

Part X · end of year
CashLn 1$388K
Total assetsLn 16$1.1M
Total liabilitiesLn 26$56K
Total net assetsLn 32$1.1M
Months of cash on handcomputed19.3

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $388K · Operating expenses (Pt IX) $241K · Less non-cash grants $2K · Cash operating expenses/yr $239K
19.5 months
Where the money goes
Program services
Program services $0 · Total expenses $241K
not reported
Management & General
Management & general $0 · Total expenses $241K
not reported
Fundraising
Fundraising $0 · Total expenses $241K
not reported
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $157K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $232K · Total revenue $281K
82%
Government reliance
Government grants $100K · Total revenue $281K
36%
Earned-income share
Program service revenue $14K · Total revenue $281K
5%
Investment reliance
Investment income $422 · Total revenue $281K
+0.2%
Program self-sufficiency
Program service revenue $14K · Total expenses $241K
6%
Growth & trend
Revenue growth (YoY)
This year $281K · Prior year $244K
+15%
Net-asset trend (YoY)
End of year $1.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $281K · Expenses $241K
+14%
Liabilities-to-Assets
Total liabilities — · Total assets $1.1M
—
Net-asset ratio
Net assets $1.1M · Total assets $1.1M
95%
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 $65K · Total expenses $241K
27%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $94K · Total expenses $241K
39%
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%——
Revenue growth 15%——
Accounting fee ratio 2%——

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 · viewing · ⤓ 990 PDF
FY2020$244K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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