Franklin County Development Association: FY2023 Nonprofit Profile & Form 990 (EIN 42-1177043)

Revenue by fiscal year
FY2021	$101K
FY2022	$128K
FY2023	$165K
FY2024	$152K
FY2025	$169K

Expenses by fiscal year
FY2021	$89K
FY2022	$144K
FY2023	$145K
FY2024	$164K
FY2025	$260K

Net assets by fiscal year
FY2021	$1.2M
FY2022	$1.1M
FY2023	$1.2M
FY2024	$1.1M
FY2025	$1.1M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation

Board Members Per Attached

Director

$0Pt VII · Sec A

Brian Buresh

President

$0Pt VII · Sec A

Todd Lettow

Treasurer

$0Pt VII · Sec A

Kevin Westaby

Vice Preside

$0Pt VII · Sec A

See Franklin County Development Association executive salaries →

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

Attracts business and industry to Franklin County.

Questions for Franklin County Development Association

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Your first name shows with your question. Franklin County Development Association answers here, for everyone.

1 program · in their own filed words · FY2022

01

Attract business and industry to locate in Franklin County, IA

Form 990 Part III, line 4, FY2022. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 42-1177043) · Dispute this line

Pt IX · Ln 25 · col B

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking

Grants paid · 1 grant · $9K · 2020–2020

Unitemized GrantFY2020$8,966

By the numbers

The FY2023 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$165K

Ln 12

Gifts and grantsLn 1h$128K

Other incomeLn 4–11$31K

Investment incomeLn 3$7K

Money outPt IX

$145K

Ln 25

Owns and owesPt X

$1.2M

net assets · Ln 32

Cash and savingsLn 1–2$986K

Total assetsLn 16$1.2M

LiabilitiesLn 26$14K

PeoplePt VI, VII

4

listed · VII A

PaidVII A0

Voting boardVI 1a200

IndependentVI 1b200

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$128K

Government grantsLn 1e$90K

Investment incomeLn 3$7K

Other incomeLn 4–11$31K

Gains on assetsLn 7$32K

Total revenueLn 12$165K

Assets in detailPt X, end of year

CashLn 1$480K

SavingsLn 2$506K

Cash and savings togetherLn 1–2$986K

Pledges and grants receivableLn 3$100K

Notes and loans receivableLn 7$43K

Land, buildings, equipmentLn 10c$45K

Total assetsLn 16$1.2M

LiabilitiesLn 26$14K

Net assetsLn 32$1.2M

OperationsPt I, VI

EmployeesI 51

VolunteersI 620

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY23	End FY23
Cash and savingsLn 1–2	$948K	$986K
Land, buildings, equipmentLn 10c	$753K	$45K
Total assetsLn 16	$1.8M	$1.2M
LiabilitiesLn 26	$613K	$14K
Net assetsLn 32	$1.1M	$1.2M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Other salaries and wagesLn 7	$85K
Pension plan contributionsLn 8	$3K
Other employee benefitsLn 9	$10K
Payroll taxesLn 10	$21K
Legal feesLn 11b	$1K
Accounting feesLn 11c	$3K
Other fees for servicesLn 11g	$4K
Advertising and promotionLn 12	$278
Office expensesLn 13	$3K
Information technologyLn 14	$769
OccupancyLn 16	$7K
TravelLn 17	$1K
Conferences, conventions and meetingsLn 19	$1K
InsuranceLn 23	−$2K
Other expenses (24a–d)Ln 24	$6K
All other expensesLn 24e	$358
Total functional expensesLn 25	$145K	$0	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 LatestFiled with the IRS Dec 10, 2025	$169K	$260K	−$91K	$1.1M	990 PDF
FY2024Filed with the IRS Nov 26, 2024	$152K	$164K	−$12K	$1.1M	990 PDF
FY2023 ViewingFiled with the IRS Dec 21, 2023	$165K	$145K	$21K	$1.2M	990 PDF
FY2022Filed with the IRS Nov 15, 2022	$128K	$144K	−$15K	$1.1M	990 PDF
FY2021Filed with the IRS Oct 29, 2021	$101K	$89K	$12K	$1.2M	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2023 990

Part I · Summary $165,437 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $115,800$127,650

I-9 Program service revenue$0

I-10 Investment incomePrior year $3,066$38,715

I-11 Other revenuePrior year $9,523−$928

I-12 Total revenuePrior year $128,389$165,437

I-13 Grants and similar amounts paid$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $99,389$118,513

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $44,125$26,124

I-18 Total expensesPrior year $143,514$144,637

I-19 Revenue less expensesPrior year −$15,125$20,800

Part VI · Governance 200 of 200 board members independent, 3 to look at

VI-1a Voting members of the governing body200

VI-1b Independent voting members200

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

VI-12a Written conflict of interest policyYes

Part VIII · Statement of revenue $165,437 across 9 lines filed

VIII-1b Membership dues$18,300

VIII-1e Government grants$90,000

VIII-1f All other contributions, gifts and grants$19,350

VIII-1h Total contributions, gifts and grants$127,650

VIII-3 Investment incomeRelated to mission $6,886$6,886

VIII-6 Net rental income or lossUnrelated business −$933−$933

VIII-7 Net gain or loss on sales of assetsRelated to mission $31,829$31,829

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5$5

VIII-12 Total revenueRelated to mission $38,720 · Unrelated business −$933$165,437

Part IX · Statement of functional expenses $144,637 across 16 lines filed

IX-7 Other salaries and wages$85,000

IX-8 Pension plan contributions$2,550

IX-9 Other employee benefits$9,685

IX-10 Payroll taxes$21,278

IX-11b Legal fees$1,081

IX-11c Accounting fees$3,255

IX-11g Other fees for services$4,200

IX-12 Advertising and promotion$278

IX-13 Office expenses$3,079

IX-14 Information technology$769

IX-16 Occupancy$6,552

IX-17 Travel$1,383

IX-19 Conferences, conventions and meetings$1,288

IX-23 Insurance−$1,862

IX-24 Other expenses (24a–d)$5,743

IX-24e All other expenses$358

IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$144,637

Part X · Balance sheet $1,173,696 assets, 11 lines filed

X-1 Cash, non-interest-bearingStart of year $620,096$480,223

X-2 Savings and temporary cash investmentsStart of year $327,506$505,637

X-3 Pledges and grants receivable$100,000

X-7 Notes and loans receivableStart of year $50,426$43,026

X-10c Land, buildings and equipment, netStart of year $753,133$44,810

X-16 Total assetsStart of year $1,751,161$1,173,696

X-17 Accounts payable and accrued expensesStart of year $2,646$14,380

X-26 Total liabilitiesStart of year $612,645$14,380

X-31 Retained earnings or endowmentStart of year $1,138,516$1,159,316

X-32 Total net assets or fund balancesStart of year $1,138,516$1,159,316

X-33 Total liabilities and net assetsStart of year $1,751,161$1,173,696

Part XI · Reconciliation of net assets $1,159,316 net assets at year end

XI-1 Total revenue$165,437

XI-2 Total expenses$144,637

XI-3 Revenue less expenses$20,800

XI-4 Net assets at start of year$1,138,516

XI-10 Net assets at end of year$1,159,316

Form 990 e-file FY2023 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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Franklin County Development Association FY2023 filing

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Franklin County Development Association

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV

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