Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1979.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Who runs it and what they're paid
11 people listed on the 990.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Joshua Laraby - Resigned 10523 | — | $82,750 | — | — | — |
| Josh Laraby - Resigned 10523 | $82,155 | — | — | — | — |
| Joshua Laraby | — | — | $73,000 | $66,000 | $59,983 |
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 15aNo
Programs and updates
Improves Fairfield, Iowa's quality of life through economic development initiatives and programs.
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Honor a teacher from the fairfield community school district for their outstanding performance and achievements.
To encourage young adults to return to fairfield to settle and begin their lives in the area.
Provide cost sharing of entrepreneurial services for business development.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $900K | $816K |
| Land, buildings, equipmentLn 10c | $1.3M | $2.0M |
| Total assetsLn 16 | $2.3M | $2.9M |
| LiabilitiesLn 26 | $426K | $749K |
| Net assetsLn 32 | $1.8M | $2.1M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $250 | |||
| Other salaries and wagesLn 7 | $34K | |||
| Other employee benefitsLn 9 | $7K | |||
| Payroll taxesLn 10 | $3K | |||
| Management feesLn 11a | $86K | |||
| Legal feesLn 11b | $2K | |||
| Accounting feesLn 11c | $19K | |||
| Other fees for servicesLn 11g | $7K | |||
| Advertising and promotionLn 12 | $2K | |||
| Office expensesLn 13 | $10K | |||
| OccupancyLn 16 | $15K | |||
| TravelLn 17 | $2K | |||
| Conferences, conventions and meetingsLn 19 | $4K | |||
| InsuranceLn 23 | $1K | |||
| Other expenses (24a–d)Ln 24 | $22K | |||
| All other expensesLn 24e | $245 | |||
| Total functional expensesLn 25 | $215K | $0 | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $653K | $154K | $499K | $1.8M | 990 PDF |
| FY2023 | $125K | $166K | −$40K | $1.3M | 990 PDF |
| FY2022 | $244K | $142K | $102K | $1.4M | 990 PDF |
| FY2021 | $171K | $127K | $44K | $1.3M | 990 PDF |
| FY2020 | $117K | $131K | −$13K | $1.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $495,663 revenue, 12 lines filed
Part VI · Governance 7 of 7 board members independent, 4 to look at
Part VIII · Statement of revenue $495,663 across 9 lines filed
Part IX · Statement of functional expenses $214,591 across 16 lines filed
Part X · Balance sheet $2,878,589 assets, 12 lines filed
Part XI · Reconciliation of net assets $2,129,331 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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