philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Tipton Economic Development Corp FY2024 filing

Tipton, IAUnknown exempt organizationEIN 42-1278185Revenue $115K in FY2024

On file with the IRStiptoniowa.org417 Cedar Street Po Box 224 · Tipton, IA

This page gets seen. Tell your story. Claim this org.

The Tipton Economic Development corporation was established to work in cooperation with city of Tipton officials to market the city of Tipton to businesses to locate or expand and promote Economic growth for the community as a whole. Our mission is to strengthen tipton's economy through industrial retention and recruitment, support of business expansion and operations, site and building Development and strategic partnerships.

50¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
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 4
filings with a surplus
Average surplus $24K a year · 80% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
50%
of spending
Worth a look: 50% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
1748 mo
of spending, in cash
Looks good: 1748.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$583K
68% of total assets
Worth a look: liabilities are 68% of assets; over 65%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$115K
×12 vs prior year
Spent
$2K
To programs
50%
Net assets
$280K
By yearFY2021–FY2025
Revenue
$115K
FY2024▲ ×12
Tap a bar for its year
Revenue by fiscal year
FY2021$4K
FY2022$12K
FY2023−$12K
FY2024$115K
FY2025$4K
Expenses
$2K
FY2024▼ -62%
Tap a bar for its year
Expenses by fiscal year
FY2021$8K
FY2022$7K
FY2023$6K
FY2024$2K
FY2025Not on file
Net assets
$280K
FY2024▲ +67%
Tap a bar for its year
Net assets by fiscal year
FY2021$180K
FY2022$185K
FY2023$167K
FY2024$280K
FY2025Not on file

From the FY2024 Form 990 (year ending June 2024) · see the original

Give Claim
You’re viewing the FY2024 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

50 cents of each dollar spent went to programs.

Program services 50% · $1K Management & general 50% · $1K

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

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Katie Abel
Director
$0Pt VII · Sec A
Bruce Cary
Director
$0Pt VII · Sec A
Stuart Clark
Director
$0Pt VII · Sec A
Renee Crock
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Lesley Puffer
Treasurer
$0Pt VII · Sec A
Duane Webb
Director
$0Pt VII · Sec A
See Tipton Economic Development Corp executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Request edit privileges.

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 businesses and promotes economic growth for the community.

Questions for Tipton Economic Development Corp

Tap to ask. Tipton Economic Development Corp sees how many people are interested.

Your first name shows with your question. Tipton Economic Development Corp answers here, for everyone.

Provided by the organization

Know this organization? Claim it to add your story

1 program · $1K · in their own filed words · FY2023
01

The tipton economic development corporation was created for marketing the city of tipton as a good place for a company to locate or expand. The organization works together with city of tipton officials to gather and collate information regarding infrastructure, site availability and pricing, comparative wage scales and similar facts…

$1Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$115K
Ln 12
Investment incomeLn 3$136K
Money outPt IX
$2K
Ln 25
Programscol B$1K
Managementcol C$1K
Owns and owesPt X
$280K
net assets · Ln 32
Cash and savingsLn 1–2$350K
Total assetsLn 16$862K
LiabilitiesLn 26$583K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$136K
Gains on assetsLn 7$136K
Total revenueLn 12$115K
Assets in detailPt X, end of year
SavingsLn 2$350K
Cash and savings togetherLn 1–2$350K
Land, buildings, equipmentLn 10c$513K
Total assetsLn 16$862K
LiabilitiesLn 26$583K
Net assetsLn 32$280K
OperationsPt I, VI
EmployeesI 50
VolunteersI 611
Fiscal year endsHeaderJune
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 FY24End FY24
Cash and savingsLn 1–2$12K$350K
Land, buildings, equipmentLn 10c$1.1M$513K
Total assetsLn 16$1.1M$862K
LiabilitiesLn 26$941K$583K
Net assetsLn 32$167K$280K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
OccupancyLn 16$1K$1K
Total functional expensesLn 25$2K$1K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4K 990 PDF
FY2024 Viewing $115K$2K$112K$280K 990 PDF
FY2023 −$12K$6K−$18K$167K 990 PDF
FY2022 $12K$7K$5K$185K 990 PDF
FY2021 $4K$8K−$4K$180K 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2024 990 (6 parts)
Part I · Summary $114,821 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $40$136,133
I-11 Other revenuePrior year −$11,723−$21,312
I-12 Total revenuePrior year −$11,683$114,821
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $6,398$2,400
I-18 Total expensesPrior year $6,398$2,400
I-19 Revenue less expensesPrior year −$18,081$112,421
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-12a Written conflict of interest policyNo
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
Part VIII · Statement of revenue $114,821 across 5 lines filed
VIII-3 Investment incomeRelated to mission $36$36
VIII-6 Net rental income or lossRelated to mission −$21,780−$21,780
VIII-7 Net gain or loss on sales of assetsRelated to mission $136,097$136,097
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $468$468
VIII-12 Total revenueRelated to mission $114,821$114,821
Part IX · Statement of functional expenses $2,400 across 2 lines filed
IX-11c Accounting feesManagement $1,200$1,200
IX-16 OccupancyPrograms $1,200$1,200
IX-25 Total functional expensesPrograms $1,200 · Management $1,200 · Fundraising $0$2,400
Part X · Balance sheet $862,396 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $12,084$349,592
X-10c Land, buildings and equipment, netStart of year $1,095,624$512,804
X-16 Total assetsStart of year $1,107,795$862,396
X-26 Total liabilitiesStart of year $940,633$582,813
X-32 Total net assets or fund balancesStart of year $167,162$279,583
X-33 Total liabilities and net assetsStart of year $1,107,795$862,396
Part XI · Reconciliation of net assets $279,583 net assets at year end
XI-1 Total revenue$114,821
XI-2 Total expenses$2,400
XI-3 Revenue less expenses$112,421
XI-4 Net assets at start of year$167,162
XI-10 Net assets at end of year$279,583

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.