Remsen Economic Development Corp

Not tax-deductible

Remsen, IA501(c)(4)EIN 42-1121152

Promote local community economic development and provide for the establishment of a local grocery store.

Mission: Form 990 Part I, line 1

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $60K a year · 31% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$22K
-48% vs prior year
Spent
$0
Net assets
$543K
By yearFY2021–FY2025
Revenue
$22K
FY2025▼ -48%
Revenue by fiscal year
FY2021$340K
FY2022$210K
FY2023$107K
FY2024$43K
FY2025$22K
Expenses
$0
FY2025▼ -100%
Expenses by fiscal year
FY2021$2K
FY2022$390K
FY2023Not on file
FY2024Not on file
FY2025$0
Net assets
$543K
FY2025▲ +21%
Net assets by fiscal year
FY2021$532K
FY2022$351K
FY2023$452K
FY2024$450K
FY2025$543K

From the FY2025 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1979.

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.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Remsen Economic Development Corp 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
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Builds local grocery stores to boost community economies.

Provided by the organization

This section is blank until Remsen Economic Development Corp claims this page.

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1 program service, described in the organization's own filed words · FY2025.
01

At the current time the organization is not providing any program services. Most assets are committed to the success of the local grocery store.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$22K
Ln 12
Gifts and grantsLn 1h$22K
Money outPt IX
$0
Ln 25
Owns and owesPt X
$543K
net assets · Ln 32
Cash and savingsLn 1–2$521K
Total assetsLn 16$543K
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$22K
Total revenueLn 12$22K
Assets in detailPt X, end of year
CashLn 1$20K
SavingsLn 2$501K
Cash and savings togetherLn 1–2$521K
Total assetsLn 16$543K
LiabilitiesLn 26$0
Net assetsLn 32$543K
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 FY25End FY25
Cash and savingsLn 1–2$489K$521K
Total assetsLn 16$500K$543K
LiabilitiesLn 26$0$0
Net assetsLn 32$500K$543K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Total functional expensesLn 25$0$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $22K$0$22K$543K 990 PDF
FY2024 $43K$450K 990 PDF
FY2023 $107K$452K 990 PDF
FY2022 $210K$390K−$181K$351K 990 PDF
FY2021 $340K$2K$338K$532K 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 FY2025 990 (4 parts)
Part VIII · Statement of revenue $22,300 across 4 lines filed
VIII-1b Membership dues$2,300
VIII-1f All other contributions, gifts and grants$20,000
VIII-1h Total contributions, gifts and grants$22,300
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$22,300
Part IX · Statement of functional expenses $0 across 0 lines filed
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$0
Part X · Balance sheet $543,186 assets, 6 lines filed
Asset lines not itemized here account for $22,555; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $14,214$19,751
X-2 Savings and temporary cash investmentsStart of year $474,315$500,880
X-16 Total assetsStart of year $500,366$543,186
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $500,366$543,188
X-33 Total liabilities and net assetsStart of year $500,366$543,188
Part XI · Reconciliation of net assets $543,186 net assets at year end
XI-1 Total revenue$22,300
XI-2 Total expenses$0
XI-3 Revenue less expenses$22,300
XI-4 Net assets at start of year$500,366
XI-10 Net assets at end of year$543,186

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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