Fairbank Development Corporation: Nonprofit Profile, Financials & Form 990 (EIN 42-1238560)

Revenue by fiscal year
FY2022	$108K
FY2023	$92K
FY2024	$118K
FY2025	$181K

Net assets by fiscal year
FY2022	$48K
FY2023	$77K
FY2024	$294K
FY2025	$263K

Is it real?

Yes. Exemption reinstated (2011-02-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Aug 2014.

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

Where the money goes

19 cents of each dollar spent went to programs.

19%

74%

Program services 19% · $23K Management & general 7% · $9K Fundraising 74% · $90K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Christian Woods

President

$0Pt VII · Sec A

Tom Hyde

Secretary

$0Pt VII · Sec A

Jared Kane

Treasurer

$0Pt VII · Sec A

Richard Woods

Director

$0Pt VII · Sec A

Ronald Woods

Director

$0Pt VII · Sec A

Andrew Williams

Director

$0Pt VII · Sec A

See Fairbank Development Corporation 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

Organizes annual town celebrations offering community-based entertainment.

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1 program · $23K · in their own filed words · FY2024

01

provided a succesful summer celebration that drew crowds to the town and served the local population wtih entertaiment at free or reduced costs.

$23Kprogram expense

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 · FY2024

National Philanthropic TrustFY2024$40K

Total grants receivedfrom 1 funder$40K

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$181K

Ln 12

Gifts and grantsLn 1h$168K

Other incomeLn 4–11$10K

Investment incomeLn 3$4K

Money outPt IX

$121K

Ln 25

Programscol B$23K

Managementcol C$9K

Fundraisingcol D$90K

Owns and owesPt X

$263K

net assets · Ln 32

Cash and savingsLn 1–2$87K

Total assetsLn 16$263K

LiabilitiesLn 26$0

PeoplePt VI, VII

6

listed · VII A

PaidVII A0

Voting boardVI 1a6

IndependentVI 1b6

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$168K

Government grantsLn 1e$58K

Fundraising eventsLn 1c$63K

Investment incomeLn 3$4K

Other incomeLn 4–11$10K

Total revenueLn 12$181K

Assets in detailPt X, end of year

CashLn 1$76K

SavingsLn 2$11K

Cash and savings togetherLn 1–2$87K

Land, buildings, equipmentLn 10c$176K

Total assetsLn 16$263K

LiabilitiesLn 26$0

Net assetsLn 32$263K

OperationsPt I, VI

EmployeesI 50

VolunteersI 620

Fiscal year endsHeaderSeptember

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 FY25	End FY25
Cash and savingsLn 1–2	$73K	$87K
Land, buildings, equipmentLn 10c	$105K	$176K
Total assetsLn 16	$178K	$263K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$178K	$263K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$22K	$22K
Grants to domestic individualsLn 2	$500	$500
Legal feesLn 11b	$782		$782
Advertising and promotionLn 12	$3K			$3K
Office expensesLn 13	$90		$90
Information technologyLn 14	$809		$809
OccupancyLn 16	$7K		$7K	$228
Depreciation, depletion and amortizationLn 22	$74		$74
InsuranceLn 23	$12K			$12K
Other expenses (24a–d)Ln 24	$74K			$74K
All other expensesLn 24e	$225			$225
Total functional expensesLn 25	$121K	$23K	$9K	$90K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest ViewingFiled with the IRS Feb 11, 2026	$181K	$121K	$60K	$263K	990 PDF
FY2024Filed with the IRS Feb 7, 2025	$118K			$294K	990 PDF
FY2023Filed with the IRS Jan 17, 2024	$92K			$77K	990 PDF
FY2022Filed with the IRS Nov 20, 2023	$108K			$48K	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2025 990

Part I · Summary $181,385 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $105,614$168,128

I-9 Program service revenue$0

I-10 Investment incomePrior year $3,545$3,545

I-11 Other revenuePrior year $8,768$9,712

I-12 Total revenuePrior year $117,927$181,385

I-13 Grants and similar amounts paid$23,000

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expenses$98,370

I-18 Total expenses$121,370

I-19 Revenue less expensesPrior year $117,927$60,015

Part VI · Governance 6 of 6 board members independent, 3 to look at

VI-1a Voting members of the governing body6

VI-1b Independent voting members6

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 $181,385 across 8 lines filed

Lines not itemized here account for $9,412 of total revenue; see the IRS return.

VIII-1c Fundraising events$62,514

VIII-1e Government grants$58,000

VIII-1f All other contributions, gifts and grants$47,614

VIII-1h Total contributions, gifts and grants$168,128

VIII-3 Investment incomeRelated to mission $3,545$3,545

VIII-6 Net rental income or lossRelated to mission $300$300

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $13,257 · Unrelated business $0 · Excluded from tax $0$181,385

Part IX · Statement of functional expenses $121,370 across 11 lines filed

IX-1 Grants to domestic organizationsPrograms $22,500$22,500

IX-2 Grants to domestic individualsPrograms $500$500

IX-11b Legal feesManagement $782$782

IX-12 Advertising and promotionFundraising $3,298$3,298

IX-13 Office expensesManagement $90$90

IX-14 Information technologyManagement $809$809

IX-16 OccupancyManagement $6,823 · Fundraising $228$7,051

IX-22 Depreciation, depletion and amortizationManagement $74$74

IX-23 InsuranceFundraising $11,957$11,957

IX-24 Other expenses (24a–d)Fundraising $74,084$74,084

IX-24e All other expensesFundraising $225$225

IX-25 Total functional expensesPrograms $23,000 · Management $8,578 · Fundraising $89,792$121,370

Part X · Balance sheet $262,687 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $62,308$76,102

X-2 Savings and temporary cash investmentsStart of year $10,574$10,574

X-10c Land, buildings and equipment, netStart of year $104,766$176,011

X-16 Total assetsStart of year $177,648$262,687

X-26 Total liabilitiesStart of year $0$0

X-31 Retained earnings or endowmentStart of year $177,648$262,687

X-32 Total net assets or fund balancesStart of year $177,648$262,687

X-33 Total liabilities and net assetsStart of year $177,648$262,687

Part XI · Reconciliation of net assets $262,687 net assets at year end

XI-1 Total revenue$181,385

XI-2 Total expenses$121,370

XI-3 Revenue less expenses$60,015

XI-4 Net assets at start of year$177,648

XI-9 Other changes in net assets$25,024

XI-10 Net assets at end of year$262,687

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

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Fairbank Development Corporation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Fairbank Development Corporation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV