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Montezuma Development Corporation FY2020 filing

Not tax-deductible

Montezuma, IA501(c)(4)EIN 42-1066288Revenue $106K in FY2020

On file with the IRSAka Sunny View Square, 50171-0000 · Montezuma, IATax-exempt since Jun 1977

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To provide low income rental housing for elderly citizens through subsidized loans and rental assistance.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
4 of 5
filings with a surplus
Average surplus $12K a year · 6% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$102K
40% of total assets
Looks good: liabilities are 40% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$106K
Spent
$93K
To programs
100%
Net assets
$150K
By yearFY2020–FY2024
Revenue
$106K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$106K
FY2021$192K
FY2022$178K
FY2023$280K
FY2024$298K
Expenses
$93K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$93K
FY2021$138K
FY2022$226K
FY2023$250K
FY2024$285K
Net assets
$150K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$150K
FY2021$204K
FY2022$155K
FY2023$185K
FY2024$198K

From the FY2020 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2020 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 Jun 1977.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $93K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Leann James
Secretary
$0Pt VII · Sec A
Jim Kivi
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Patrick Montag
Board Member
$0Pt VII · Sec A
Liesel Roorda
Board Member
$0Pt VII · Sec A
Jerome Sheets
Board Member
$0Pt VII · Sec A
Eldon Snook
President
$0Pt VII · Sec A
See Montezuma Development Corporation 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

Offers affordable rental housing and assistance to low-income seniors.

Questions for Montezuma Development Corporation

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Provided by the organization

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1 program · $93K · in their own filed words · FY2020
01

To provide rental assistance to elderly people who are low income or disabled.

$93Kprogram expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$106K
Ln 12
Fees for servicesLn 2g$106K
Money outPt IX
$93K
Ln 25
Programscol B$93K
Owns and owesPt X
$150K
net assets · Ln 32
Cash and savingsLn 1–2$53K
Total assetsLn 16$252K
LiabilitiesLn 26$102K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$106K
Total revenueLn 12$106K
Assets in detailPt X, end of year
CashLn 1$53K
Cash and savings togetherLn 1–2$53K
Land, buildings, equipmentLn 10c$191K
Total assetsLn 16$252K
LiabilitiesLn 26$102K
Net assetsLn 32$150K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$47K$53K
Land, buildings, equipmentLn 10c$191K$191K
Total assetsLn 16$249K$252K
LiabilitiesLn 26$111K$102K
Net assetsLn 32$138K$150K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Advertising and promotionLn 12$241$241
Office expensesLn 13$352$352
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$86K$86K
Total functional expensesLn 25$93K$93K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $298K$285K$13K$198K 990 PDF
FY2023 $280K$250K$30K$185K 990 PDF
FY2022 $178K$226K−$49K$155K 990 PDF
FY2021 $192K$138K$54K$204K 990 PDF
FY2020 Viewing $106K$93K$12K$150K 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 (6 parts)
Part I · Summary $105,512 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $132,677$105,512
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $132,677$105,512
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $119,653$93,492
I-18 Total expensesPrior year $119,653$93,492
I-19 Revenue less expensesPrior year $13,024$12,020
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $105,512 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $105,512$105,512
VIII-12 Total revenueRelated to mission $105,512$105,512
Part IX · Statement of functional expenses $93,492 across 4 lines filed
IX-12 Advertising and promotionPrograms $241$241
IX-13 Office expensesPrograms $352$352
IX-23 InsurancePrograms $7,374$7,374
IX-24 Other expenses (24a–d)Programs $85,525$85,525
IX-25 Total functional expensesPrograms $93,492 · Management $0 · Fundraising $0$93,492
Part X · Balance sheet $251,943 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $46,593$52,937
X-9 Prepaid expenses and deferred chargesStart of year $11,434$8,206
X-10c Land, buildings and equipment, netStart of year $190,800$190,800
X-16 Total assetsStart of year $248,827$251,943
X-25 Other liabilitiesStart of year $110,635$101,731
X-26 Total liabilitiesStart of year $110,635$101,731
X-32 Total net assets or fund balancesStart of year $138,192$150,212
X-33 Total liabilities and net assetsStart of year $248,827$251,943
Part XI · Reconciliation of net assets $150,212 net assets at year end
XI-1 Total revenue$105,512
XI-2 Total expenses$93,492
XI-3 Revenue less expenses$12,020
XI-4 Net assets at start of year$138,192
XI-10 Net assets at end of year$150,212

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

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