Madison County Development Group FY2023 filing

Business league / trade association Winterset, IA Since 1987 EIN 42-1303617
Revenue
$161K
▼ -4%
FY2023 · Pt VIII · Ln 12
Expenses
$142K
▲ +7%
FY2023 · Pt IX · Ln 25
Net assets
$606K
FY2023 · Pt X · Ln 32
To programs
0%
FY2023 · Pt IX · col B
Revenue & expenses by yearFY2021–FY2025
Revenue
$161K
FY2023▼ -4%
Expenses
$142K
FY2023▲ +7%

Attracts businesses to locate in Madison County, Iowa.

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Tax-deductible?
No
Per the IRS master file. Details →
Can I give now?
No revocation on IRS record
Not on the IRS revocation list. Details →
Filing up to date?
Yes — filed FY2025
Foundation funders?
1 funder — Iowa Farm Bureau Federation
$10K in the latest grant year. Details →
Spent on programs?
0% to programs
Form 990 Part IX, latest filing. Details →
Size and trend
$100K–1M
↓ -4% vs prior year Details →

Form 990 for the fiscal year ending June 2023 (IRS tax year 2022).


Attracts businesses to locate in Madison County, Iowa.

Founded
1987
Type
Business league / trade association · Nonprofit
Location
Winterset, IA
Website
www.madisoncountydevelopment.com
Filings
5 on file (2021–2023)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →
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Provided by the organization

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Operating surplus
+12%
revenue over expenses
Earned revenue
15%
of revenue from program services & dues
Payroll share
68%
of spending is salaries & benefits

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Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$610K
FY2023▲ +3%
Total liabilities
$4K
FY2023▼ -34%
Revenue less expensesPt I · Ln 19$19K
Total assetsPt X · Ln 16$610K
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CMadison County Development Group
EINHdr · item D42-1303617
Principal addressHdr · item CWinterset, IA
Year of formationHdr · item L1987
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(6) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFDec 1987

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Secretary
$86,941Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Tom Leners—$86,941$84,441$82,040
Tom Leners Left Dec 2023$59,304———

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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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2022.
01

Program expenditures to attract business to locate in madison county, iowa

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$120K · 74%
Program service revenue$25K · 15%
Other revenue$11K · 7%
Investment income$5K · 3%
Contributions & grants74%$120K
Program service revenue15%$25K
Other revenue7%$11K
Investment income3%$5K
— government grantsLn 1e$104K
Total revenueLn 12$161K

Balance Sheet

Part X · end of year
CashLn 1$473K
Total assetsLn 16$610K
Total liabilitiesLn 26$4K
Total net assetsLn 32$606K
Months of cash on handcomputed39.9

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $473K · Operating expenses/yr $142K
39.9 months
Where the money goes
Program services
Program services $0 · Total expenses $142K
not reported
Management & General
Management & general $0 · Total expenses $142K
not reported
Fundraising
Fundraising $0 · Total expenses $142K
not reported
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $17K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $120K · Total revenue $161K
74%
Government reliance
Government grants $104K · Total revenue $161K
64%
Earned-income share
Program service revenue $25K · Total revenue $161K
15%
Investment reliance
Investment income $5K · Total revenue $161K
+3%
Program self-sufficiency
Program service revenue $25K · Total expenses $142K
17%
Growth & trend
Revenue growth (YoY)
This year $161K · Prior year $168K
-4%
Net-asset trend (YoY)
End of year $606K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $161K · Expenses $142K
+12%
Liabilities-to-Assets
Total liabilities — · Total assets $610K
—
Net-asset ratio
Net assets $606K · Total assets $610K
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $610K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Tom Leners · Reported title SECRETARY · Highest reported compensation $87K · Total expenses $142K
61%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $96K · Total expenses $142K
68%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Overhead ratio 0%——
Fundraising cost ratio 0%——
Revenue growth -4%——
Accounting fee ratio 4%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2022
Total grants receivedfrom 1 funder$10K
Grants paid · 1 grant · $43K · 2025–2025

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025$174K revenue · ⤓ 990 PDF
FY2024$164K revenue · ⤓ 990 PDF
FY2023$161K revenue · viewing · ⤓ 990 PDF
FY2022$168K revenue · ⤓ 990 PDF
FY2021$194K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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