Greene County Development Corp FY2022 filing

Not tax-deductible

Jefferson, IA501(c)(6)Mutual / membership EIN 42-0927000Revenue $258K in FY2022Latest return filed Nov 6, 2025

On file with the IRSPo Box 166, 50129-0166 · Jefferson, IATax-exempt since Jan 1974

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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.
$65K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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FY2022 · 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
$65K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
11 mo
of spending, in cash
Looks good: 10.9 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
$4K
0.5% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 31 voting members
Looks good: 31 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$258K
-8% vs prior year
Spent
$440K
To programs
0%
Net assets
$870K
By yearFY2020–FY2024
Revenue
$258K
FY2022▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2020$244K
FY2021$281K
FY2022$258K
FY2023$199K
FY2024$250K
Expenses
$440K
FY2022▲ +83%
Tap a bar for its year
Expenses by fiscal year
FY2020$212K
FY2021$241K
FY2022$440K
FY2023$276K
FY2024$272K
Net assets
$870K
FY2022▼ -17%
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 FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

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

32 people listed on the 990; $65K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Di
$65,430Pt 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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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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3 programs · in their own filed words · FY2022
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 FY2022 990, line by line.

1The main four
Money inPt VIII
$258K
Ln 12
Gifts and grantsLn 1h$223K
Other incomeLn 4–11$34K
Fees for servicesLn 2g$1K
Money outPt IX
$440K
Ln 25
Owns and owesPt X
$870K
net assets · Ln 32
Cash and savingsLn 1–2$398K
Total assetsLn 16$874K
LiabilitiesLn 26$4K
PeoplePt VI, VII
32
listed · VII A
PaidVII A1
Voting boardVI 1a31
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$223K
Government grantsLn 1e$100K
Noncash giftsLn 1g$2K
Fees for servicesLn 2g$1K
Investment incomeLn 3$221
Other incomeLn 4–11$34K
Total revenueLn 12$258K
Assets in detailPt X, end of year
CashLn 1$296K
SavingsLn 2$101K
Cash and savings togetherLn 1–2$398K
InvestmentsLn 11–13$255K
Land, buildings, equipmentLn 10c$221K
Total assetsLn 16$874K
LiabilitiesLn 26$4K
Net assetsLn 32$870K
OperationsPt I, VI
EmployeesI 52
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 FY22End FY22
Cash and savingsLn 1–2$388K$398K
InvestmentsLn 11–13$461K$255K
Land, buildings, equipmentLn 10c$231K$221K
Total assetsLn 16$1.1M$874K
LiabilitiesLn 26$56K$4K
Net assetsLn 32$1.1M$870K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$191K
Other salaries and wagesLn 7$90K
Payroll taxesLn 10$7K
Accounting feesLn 11c$3K
Other fees for servicesLn 11g$335
Advertising and promotionLn 12$5K
Office expensesLn 13$3K
Information technologyLn 14$2K
OccupancyLn 16$5K
TravelLn 17$6K
Conferences, conventions and meetingsLn 19$11K
InterestLn 20$493
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$113K
All other expensesLn 24e$399
Total functional expensesLn 25$440K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 6, 2025 $250K$272K−$22K$771K 990 PDF
FY2023Filed with the IRS Mar 25, 2025 $199K$276K−$77K$793K 990 PDF
FY2022 ViewingFiled with the IRS Dec 12, 2023 $258K$440K−$182K$870K 990 PDF
FY2021Filed with the IRS Nov 15, 2022 $281K$241K$40K$1.1M 990 PDF
FY2020Filed with the IRS Nov 22, 2021 $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 FY2022 990 (6 parts)
Part I · Summary $257,595 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $231,868$222,640
I-9 Program service revenuePrior year $13,519$1,228
I-10 Investment incomePrior year $422$221
I-11 Other revenuePrior year $35,373$33,506
I-12 Total revenuePrior year $281,182$257,595
I-13 Grants and similar amounts paidPrior year $33,810$191,368
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $94,296$97,306
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $112,703$151,050
I-18 Total expensesPrior year $240,809$439,724
I-19 Revenue less expensesPrior year $40,373−$182,129
Part VI · Governance 31 of 31 board members independent, 2 to look at
VI-1a Voting members of the governing body31
VI-1b Independent voting members31
VI-13 Written whistleblower policyNo
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-15a Process for setting top official's payYes
Part VIII · Statement of revenue $257,595 across 9 lines filed
VIII-1b Membership dues$20,890
VIII-1e Government grants$100,000
VIII-1f All other contributions, gifts and grants$101,750
VIII-1g Noncash contributions (included above)$1,750
VIII-1h Total contributions, gifts and grants$222,640
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,228$1,228
VIII-3 Investment incomeExcluded from tax $221$221
VIII-6 Net rental income or lossExcluded from tax $33,506$33,506
VIII-12 Total revenueRelated to mission $1,228 · Excluded from tax $33,727$257,595
Part IX · Statement of functional expenses $439,724 across 15 lines filed
IX-1 Grants to domestic organizations$191,368
IX-7 Other salaries and wages$90,359
IX-10 Payroll taxes$6,947
IX-11c Accounting fees$3,165
IX-11g Other fees for services$335
IX-12 Advertising and promotion$5,000
IX-13 Office expenses$3,370
IX-14 Information technology$1,807
IX-16 Occupancy$5,019
IX-17 Travel$6,206
IX-19 Conferences, conventions and meetings$10,669
IX-20 Interest$493
IX-23 Insurance$1,514
IX-24 Other expenses (24a–d)$113,073
IX-24e All other expenses$399
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$439,724
Part X · Balance sheet $874,006 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $266,380$296,479
X-2 Savings and temporary cash investmentsStart of year $121,875$101,395
X-10c Land, buildings and equipment, netStart of year $230,532$221,302
X-13 Program-related investmentsStart of year $460,593$254,830
X-16 Total assetsStart of year $1,108,350$874,006
X-17 Accounts payable and accrued expensesStart of year $3,753$4,184
X-26 Total liabilitiesStart of year $56,399$4,184
X-27 Net assets without donor restrictionsStart of year $1,051,951$869,822
X-32 Total net assets or fund balancesStart of year $1,051,951$869,822
X-33 Total liabilities and net assetsStart of year $1,108,350$874,006
Part XI · Reconciliation of net assets $869,822 net assets at year end
XI-1 Total revenue$257,595
XI-2 Total expenses$439,724
XI-3 Revenue less expenses−$182,129
XI-4 Net assets at start of year$1,051,951
XI-10 Net assets at end of year$869,822

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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