Old Threshers Foundation INC FY2023 filing

Tax-deductible

Mt Pleasant, IA501(c)(3)EIN 42-1272944Revenue $207K in FY2023

On file with the IRSoldthreshers.com405 E Thresher Rd, 52641-2584 · Mt Pleasant, IATax-exempt since Jun 1986Supporting organization — 509(a)(3)

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To operate for charitable and educational purposes by raising funds for and distributing the income from those funds for capital projects and improvements of the midwest Old settlers and Threshers association, INC.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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
4 of 6
filings with a surplus
Average surplus $235K a year · 43% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $31K
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
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$207K
-46% vs prior year
Spent
$229K
To programs
81%
Net assets
$3.5M
By yearFY2020–FY2025
Revenue
$207K
FY2023▼ -46%
Tap a bar for its year
Revenue by fiscal year
FY2020$310K
FY2021$1.9M
FY2022$383K
FY2023$207K
FY2024$255K
FY2025$144K
Expenses
$229K
FY2023▼ -18%
Tap a bar for its year
Expenses by fiscal year
FY2020$268K
FY2021$566K
FY2022$278K
FY2023$229K
FY2024$252K
FY2025$238K
Net assets
$3.5M
FY2023▲ +0.8%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.4M
FY2021$4.0M
FY2022$3.5M
FY2023$3.5M
FY2024$4.2M
FY2025$4.7M

From the FY2023 Form 990 (year ending October 2023) · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1986.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $185K Management & general 19% · $44K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024
Melinda Huisinga$12,000$12,000

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 15aNo

Programs and updates

Funds capital projects and improvements for the Midwest Old Settlers and Threshers Association.

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Provided by the organization

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3 programs · $185K · in their own filed words · FY2022
01

The foundation supports events like festival of lights and the iowa state fair tourism booth to attract people to the midwest old settlers & threshers grounds. Foundation board members participate in field trip tours for nearly 1,000 upper elementary school age children who visit midwest old threshers each spring.

$185Kprogram expense
02

During the past six annual reunions, the foundation has recognized a top financial supporter and volunteer of midwest old threshers by awarding the "golden wheat award" to that recipient. Foundation board members volunteer to assist midwest old threshers throughout the year at various events sponsored by mosta such as school tours, steam…

Pt IX · col B
03

The foundation has spearheaded fundraising efforts on behalf of midwest old threshers to continue to develop relationships with donors and grow the endowment, the earnings of which, are granted to midwest old threshers annually.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$31K
Grants paid · 6 grants · $1.5M · 2019–2024

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$207K
Ln 12
Gifts and grantsLn 1h$98K
Investment incomeLn 3$96K
Other incomeLn 4–11$13K
Money outPt IX
$229K
Ln 25
Programscol B$185K
Managementcol C$44K
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$56K
Total assetsLn 16$3.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$98K
Investment incomeLn 3$96K
Other incomeLn 4–11$13K
Gains on assetsLn 7−$15K
Total revenueLn 12$207K
Assets in detailPt X, end of year
CashLn 1$41K
SavingsLn 2$16K
Cash and savings togetherLn 1–2$56K
InvestmentsLn 11–13$3.5M
Total assetsLn 16$3.5M
LiabilitiesLn 26$0
Net assetsLn 32$3.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 619
Fiscal year endsHeaderOctober
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 FY23End FY23
Cash and savingsLn 1–2$69K$56K
InvestmentsLn 11–13$3.4M$3.5M
Total assetsLn 16$3.5M$3.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$3.5M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$173K$173K
Pay of current officers, directors and key staffLn 5$10K$10K
Payroll taxesLn 10$765$765
Accounting feesLn 11c$8K$8K
Investment management feesLn 11f$20K$20K
Advertising and promotionLn 12$1K$1K
Office expensesLn 13$154$154
OccupancyLn 16$12K$12K
Conferences, conventions and meetingsLn 19$433$433
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$229K$185K$44K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $144K$238K−$93K$4.7M 990 PDF
FY2024 $255K$252K$2K$4.2M 990 PDF
FY2023 Viewing $207K$229K−$22K$3.5M 990 PDF
FY2022 $383K$278K$105K$3.5M 990 PDF
FY2021 $1.9M$566K$1.4M$4.0M 990 PDF
FY2020 $310K$268K$42K$2.4M 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 FY2023 990 (6 parts)
Part I · Summary $207,351 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $164,000$98,200
I-9 Program service revenue$0
I-10 Investment incomePrior year $206,726$95,897
I-11 Other revenuePrior year $12,634$13,254
I-12 Total revenuePrior year $383,360$207,351
I-13 Grants and similar amounts paidPrior year $182,279$173,085
I-14 Benefits paid to members$0
I-15 Salaries and benefits$10,765
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $95,896$45,537
I-18 Total expensesPrior year $278,175$229,387
I-19 Revenue less expensesPrior year $105,185−$22,036
Part VI · Governance 15 of 15 board members independent, 1 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $207,351 across 5 lines filed
Lines not itemized here account for $13,254 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$98,200
VIII-1h Total contributions, gifts and grants$98,200
VIII-3 Investment incomeExcluded from tax $110,619$110,619
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$14,722−$14,722
VIII-12 Total revenueExcluded from tax $109,151$207,351
Part IX · Statement of functional expenses $229,387 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $173,085$173,085
IX-5 Pay of current officers, directors and key staffPrograms $10,000$10,000
IX-10 Payroll taxesPrograms $765$765
IX-11c Accounting feesManagement $8,319$8,319
IX-11f Investment management feesManagement $20,307$20,307
IX-12 Advertising and promotionPrograms $1,494$1,494
IX-13 Office expensesManagement $154$154
IX-16 OccupancyManagement $12,000$12,000
IX-19 Conferences, conventions and meetingsManagement $433$433
IX-23 InsuranceManagement $1,104$1,104
IX-24 Other expenses (24a–d)Management $1,726$1,726
IX-25 Total functional expensesPrograms $185,344 · Management $44,043 · Fundraising $0$229,387
Part X · Balance sheet $3,525,019 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $3,885$40,594
X-2 Savings and temporary cash investmentsStart of year $65,331$15,530
X-11 Publicly traded securitiesStart of year $3,426,946$3,468,895
X-16 Total assetsStart of year $3,496,162$3,525,019
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,437,968$1,380,301
X-28 Net assets with donor restrictionsStart of year $2,058,194$2,144,718
X-32 Total net assets or fund balancesStart of year $3,496,162$3,525,019
X-33 Total liabilities and net assetsStart of year $3,496,162$3,525,019
Part XI · Reconciliation of net assets $3,525,019 net assets at year end
XI-1 Total revenue$207,351
XI-2 Total expenses$229,387
XI-3 Revenue less expenses−$22,036
XI-4 Net assets at start of year$3,496,162
XI-5 Net unrealized gains (losses) on investments$50,893
XI-10 Net assets at end of year$3,525,019

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

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