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Sigourney Area Development

Not tax-deductible

Sigourney, IA501(c)(6)Mutual / membership EIN 42-1084764Revenue $55K in FY2024Latest return filed Oct 17, 2025

On file with the IRSsigourney.com112 E Washington St, 52591-1445 · Sigourney, IATax-exempt since May 1990

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Promote community welfare & industrial Development.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Run by 11 volunteers and 3 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

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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
4 of 5
filings with a surplus
Average surplus $21K a year · 34% of revenue · last 5 filings
Fine: a surplus in 4 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
$17K
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
Cash reserves
93 mo
of spending, in cash
Looks good: 93.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 8 voting members
Looks good: 7 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$55K
-27% vs prior year
Spent
$59K
To programs
0%
Net assets
$748K
By yearFY2020–FY2024
Revenue
$55K
FY2024▼ -27%
Tap a bar for its year
Revenue by fiscal year
FY2020$96K
FY2021$44K
FY2022$46K
FY2023$76K
FY2024$55K
Expenses
$59K
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020$36K
FY2021$31K
FY2022$32K
FY2023$53K
FY2024$59K
Net assets
$748K
FY2024▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$726K
FY2021$740K
FY2022$754K
FY2023$777K
FY2024$748K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1990.

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

Who runs it and what they're paid

12 people listed on the 990; $17K paid to officers and key staff.

Part VII, Section A · reportable compensation
Holly Ellis
Exec Astnt/T
$17,122Pt VII · Sec A
Gary Iosbaker
Exec Dir/Sec
$0Pt VII · Sec A
Jeff Graff
President
$0Pt VII · Sec A
Lucas Meier
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Jim Morlan
Director
$0Pt VII · Sec A
Hunter Bruns
Director
$0Pt VII · Sec A
Darian Graff
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Holly Ellis$17,122$15,495———
Holly Van Voltenburg——$10,151——
Judy Frank———$5,067$5,886
Dustin Macdonald———$984—

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

Fosters community well-being and economic growth.

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Provided by the organization

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2 programs · in their own filed words · FY2024
01

Provide services to attract and maintain businesses in community. This includes purchasing land for an industrial park and marketing it to promote development. Land is sold to purchasers who are interested in development that benefits the community.

Pt IX · col B
02

The organization manages a revolving loan fund for businesses that are start-up or expanding their business in the area.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$55K
Ln 12
Other incomeLn 4–11$34K
Gifts and grantsLn 1h$16K
Investment incomeLn 3$6K
Money outPt IX
$59K
Ln 25
Owns and owesPt X
$748K
net assets · Ln 32
Cash and savingsLn 1–2$463K
Total assetsLn 16$748K
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$16K
Investment incomeLn 3$6K
Other incomeLn 4–11$34K
Total revenueLn 12$55K
Assets in detailPt X, end of year
CashLn 1$295K
SavingsLn 2$167K
Cash and savings togetherLn 1–2$463K
Land, buildings, equipmentLn 10c$106K
Total assetsLn 16$748K
LiabilitiesLn 26$0
Net assetsLn 32$748K
OperationsPt I, VI
EmployeesI 53
VolunteersI 611
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$515K$463K
Land, buildings, equipmentLn 10c$106K$106K
Total assetsLn 16$777K$748K
LiabilitiesLn 26$0$0
Net assetsLn 32$777K$748K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1K
Pay of current officers, directors and key staffLn 5$17K
Other salaries and wagesLn 7$5K
Payroll taxesLn 10$2K
Accounting feesLn 11c$8K
Advertising and promotionLn 12$1K
Office expensesLn 13$9K
OccupancyLn 16$13K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$1K
Total functional expensesLn 25$59K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Oct 17, 2025 $55K$59K−$4K$748K 990 PDF
FY2023Filed with the IRS Nov 4, 2024 $76K$53K$23K$777K 990 PDF
FY2022Filed with the IRS Nov 10, 2023 $46K$32K$14K$754K 990 PDF
FY2021Filed with the IRS Nov 11, 2022 $44K$31K$14K$740K 990 PDF
FY2020Filed with the IRS Aug 11, 2021 $96K$36K$60K$726K 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 $55,202 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,170$15,791
I-9 Program service revenue$0
I-10 Investment incomePrior year $40,399$5,736
I-11 Other revenuePrior year $22,453$33,675
I-12 Total revenuePrior year $76,022$55,202
I-13 Grants and similar amounts paid$1,000
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $19,748$24,125
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $33,266$34,366
I-18 Total expensesPrior year $53,014$59,491
I-19 Revenue less expensesPrior year $23,008−$4,289
Part VI · Governance 7 of 8 board members independent, no flags
VI-1a Voting members of the governing body8
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $55,202 across 7 lines filed
Lines not itemized here account for $23,663 of total revenue; see the IRS return.
VIII-1b Membership dues$15,791
VIII-1h Total contributions, gifts and grants$15,791
VIII-3 Investment incomeExcluded from tax $5,736$5,736
VIII-6 Net rental income or lossExcluded from tax $3,465$3,465
VIII-8 Net income from fundraising eventsExcluded from tax $6,355$6,355
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $192$192
VIII-12 Total revenueExcluded from tax $39,411$55,202
Part IX · Statement of functional expenses $59,491 across 10 lines filed
IX-1 Grants to domestic organizations$1,000
IX-5 Pay of current officers, directors and key staff$17,122
IX-7 Other salaries and wages$5,220
IX-10 Payroll taxes$1,783
IX-11c Accounting fees$7,841
IX-12 Advertising and promotion$1,013
IX-13 Office expenses$9,240
IX-16 Occupancy$12,940
IX-23 Insurance$2,231
IX-24 Other expenses (24a–d)$1,101
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$59,491
Part X · Balance sheet $748,131 assets, 8 lines filed
Asset lines not itemized here account for $179,207; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $347,815$295,113
X-2 Savings and temporary cash investmentsStart of year $166,717$167,475
X-10c Land, buildings and equipment, netStart of year $106,336$106,336
X-16 Total assetsStart of year $777,203$748,131
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $777,203$748,131
X-32 Total net assets or fund balancesStart of year $777,203$748,131
X-33 Total liabilities and net assetsStart of year $777,203$748,131
Part XI · Reconciliation of net assets $748,131 net assets at year end
XI-1 Total revenue$55,202
XI-2 Total expenses$59,491
XI-3 Revenue less expenses−$4,289
XI-4 Net assets at start of year$777,203
XI-9 Other changes in net assets−$24,783
XI-10 Net assets at end of year$748,131

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

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