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Basic Fund INC

Tax-deductible

Schleswig, IA501(c)(3) EIN 42-1188596Revenue $75K in FY2025

On file with the IRSPo Box 396, 51461-0396 · Schleswig, IATax-exempt since Feb 1983Publicly supported charity — 170(b)(1)(A)(vi)

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Community endowment Fund to support civic improvements

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 12 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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 2
filings with a surplus
Average surplus $56K a year · 76% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Plus $771K in investments, Pt X · Ln 11–13
Fine: 1.1 months of spending in cash; 1 to 3.
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 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$75K
+4% vs prior year
Spent
$20K
To programs
100%
Net assets
$772K
By yearFY2024–FY2025
Revenue
$75K
FY2025▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2024$72K
FY2025$75K
Expenses
$20K
FY2025▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2024$16K
FY2025$20K
Net assets
$772K
FY2025▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2024$687K
FY2025$772K

From the FY2025 Form 990 (year ending September 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1983.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $20K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Anne Abbe
Trustee/Dire
$0Pt VII · Sec A
Nancy Bielenberg
Vice Preside
$0Pt VII · Sec A
Lila Bubke
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Larry Grill
President
$0Pt VII · Sec A
Leisha Kragel
Trustee/Dire
$0Pt VII · Sec A
Kathy Weiss
Treasurer
$0Pt VII · Sec A
See Basic Fund INC 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

Programs and updates

Funds community projects and civic improvements through endowments.

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Provided by the organization

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3 programs · $20K · in their own filed words · FY2024
01

SHS alumni 963.64 am legion 1,041.63 business club 1,121.59 christmas cheer 1,067.05 crossroads of CC 1,062.50 enterprise 1,117.05 fire dept 930.26

$7Kprogram expense
02

2025 grant 1,089.95 2025 golf course 1,030.68 2025 schleswig pool 993.90 2025 town beautify committee 1,064.77 2025 morgan cemetery board 1,148.86 2025 library 1,128.41

$6Kprogram expense
03

2025 school foundation 1,146.59 2025 sharks 4-h 958.67 2025 childcare 1,153.41 2025 VFW post 427.27 2025 youth rec 1,109.81 2025 preschool 1,024.45

$6Kprogram expense

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 · 4 grants · $26K · 2023–2024
Service Accomplishment 1FY2024$7,304
Service Accomplishment 2FY2024$6,456
Service Accomplishment 3FY2024$5,820
Service Accomplishment 1FY2023$5,951

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$75K
Ln 12
Gifts and grantsLn 1h$48K
Investment incomeLn 3$24K
Fees for servicesLn 2g$3K
Money outPt IX
$20K
Ln 25
Programscol B$20K
Owns and owesPt X
$772K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$772K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$48K
Fees for servicesLn 2g$3K
Investment incomeLn 3$24K
Total revenueLn 12$75K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
InvestmentsLn 11–13$771K
Total assetsLn 16$772K
LiabilitiesLn 26$0
Net assetsLn 32$772K
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
Fiscal year endsHeaderSeptember
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 FY25End FY25
Cash and savingsLn 1–2$1K$2K
InvestmentsLn 11–13$674K$771K
Total assetsLn 16$687K$772K
LiabilitiesLn 26$0$0
Net assetsLn 32$687K$772K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$20K$20K
Accounting feesLn 11c$275$275
Other expenses (24a–d)Ln 24$44$44
Total functional expensesLn 25$20K$20K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $75K$20K$55K$772K 990 PDF
FY2024 $72K$16K$56K$687K 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 FY2025 990 (6 parts)
Part I · Summary $75,219 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $49,469$48,263
I-9 Program service revenuePrior year $2,556$3,255
I-10 Investment incomePrior year $20,019$23,701
I-11 Other revenue$0
I-12 Total revenuePrior year $72,044$75,219
I-13 Grants and similar amounts paidPrior year $15,510$19,580
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $75$319
I-18 Total expensesPrior year $15,585$19,899
I-19 Revenue less expensesPrior year $56,459$55,320
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $75,219 across 6 lines filed
VIII-1b Membership dues$25
VIII-1f All other contributions, gifts and grants$48,238
VIII-1h Total contributions, gifts and grants$48,263
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,255$3,255
VIII-3 Investment incomeRelated to mission $23,701$23,701
VIII-12 Total revenueRelated to mission $26,956$75,219
Part IX · Statement of functional expenses $19,899 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $19,580$19,580
IX-11c Accounting feesPrograms $275$275
IX-24 Other expenses (24a–d)Programs $44$44
IX-25 Total functional expensesPrograms $19,899 · Management $0 · Fundraising $0$19,899
Part X · Balance sheet $772,349 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $1,103$1,815
X-11 Publicly traded securitiesStart of year $674,366$770,534
X-16 Total assetsStart of year $687,052$772,349
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $687,052$772,349
X-32 Total net assets or fund balancesStart of year $687,052$772,349
X-33 Total liabilities and net assetsStart of year $687,052$772,349
Part XI · Reconciliation of net assets $772,349 net assets at year end
XI-1 Total revenue$75,219
XI-2 Total expenses$19,899
XI-3 Revenue less expenses$55,320
XI-4 Net assets at start of year$687,052
XI-5 Net unrealized gains (losses) on investments$29,977
XI-10 Net assets at end of year$772,349

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

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