Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1979.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
85 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
12 people listed on the 990; $347K paid to officers and key staff.
Compensation history total reportable pay by year · 3 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Brustkern Steve | $251,599 | $247,559 | $236,139 | $229,107 | — |
| Steve Brustkern | — | — | — | — | $229,107 |
| Koenen Stephanie | $109,841 | $99,880 | — | — | — |
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
Processes and collects loans to support economic development.
Questions for Black Hawk Economic Development INC
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Administration of economic development loan programs and technical assistance to businesses.
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 | $12.1M | $11.9M |
| Land, buildings, equipmentLn 10c | $189K | $177K |
| Total assetsLn 16 | $18.8M | $19.6M |
| LiabilitiesLn 26 | $375K | $321K |
| Net assetsLn 32 | $18.4M | $19.3M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $20K | $20K | ||
| Pay of current officers, directors and key staffLn 5 | $174K | $148K | $26K | |
| Other salaries and wagesLn 7 | $546K | $464K | $82K | |
| Pension plan contributionsLn 8 | $37K | $33K | $5K | |
| Other employee benefitsLn 9 | $82K | $72K | $10K | |
| Payroll taxesLn 10 | $60K | $52K | $8K | |
| Legal feesLn 11b | $12K | $11K | $2K | |
| Accounting feesLn 11c | $30K | $26K | $4K | |
| Other fees for servicesLn 11g | $33K | $29K | $4K | |
| Advertising and promotionLn 12 | $2K | $2K | $301 | |
| Office expensesLn 13 | $32K | $27K | $5K | |
| OccupancyLn 16 | $64K | $54K | $10K | |
| TravelLn 17 | $20K | $17K | $3K | |
| Conferences, conventions and meetingsLn 19 | $2K | $2K | $342 | |
| InterestLn 20 | $2K | $2K | ||
| Depreciation, depletion and amortizationLn 22 | $15K | $4K | $11K | |
| InsuranceLn 23 | $42K | $36K | $6K | |
| Other expenses (24a–d)Ln 24 | $6K | $5K | $868 | |
| Total functional expensesLn 25 | $1.2M | $1.0M | $177K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $2.7M | $1.4M | $1.3M | $20.6M | 990 PDF |
| FY2024 Viewing | $2.2M | $1.2M | $1.0M | $19.3M | 990 PDF |
| FY2023 | $3.7M | $943K | $2.7M | $18.4M | 990 PDF |
| FY2022 | $4.5M | $1.1M | $3.3M | $15.7M | 990 PDF |
| FY2021 | $2.6M | $974K | $1.6M | $12.4M | 990 PDF |
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Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $2,228,187 revenue, 12 lines filed
Part VI · Governance 10 of 10 board members independent, no flags
Part VIII · Statement of revenue $2,228,187 across 5 lines filed
Part IX · Statement of functional expenses $1,178,322 across 18 lines filed
Part X · Balance sheet $19,642,559 assets, 13 lines filed
Part XI · Reconciliation of net assets $19,321,807 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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