Madison County Development Group FY2024 filing

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EIN 42-1303617 Business league / trade association Winterset, IA
Form 990 (PDF)

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Revenue & expenses by yearFY2021–FY2025
Revenue
$164K
FY2024▲ +2%
Expenses
$157K
FY2024▲ +10%

Form 990 for the fiscal year ending June 2024 (IRS tax year 2023).


Attracts businesses to locate in Madison County, Iowa. For fiscal year 2024 it reported $164K in revenue, $157K in expenses, and $613K in net assets.Pt I

Founded
1987
Type
Business league / trade association · Nonprofit
Location
Winterset, IA
Website
www.madisoncountydevelopment.com
Filings
5 on file (2021–2024)
Revenue
$164KFY2024
Expenses
$157K
Net assets
$613K
People
22
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Provided by the organization

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Size
$100K–1M
What they do
Attracts businesses to locate in Madison County, Iowa.
Leadership
Tom Leners Left Dec 2023 · Secretary · $59K
Money in and out
$164K revenue, $157K expenses
Bottom line
+4% operating surplus

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

WARNING

No — not deductible

IRS records this as a A business league, chamber of commerce, or trade association. Contributions are generally not tax-deductible.; contributions are not deductible as charitable gifts. See detail →

Can I donate to this org right now?

GOOD

No revocation on IRS record

This EIN does not appear on the IRS auto-revocation list. See detail →

Is this organization up to date?

GOOD

Yes — filed FY2025

Most recent Form 990 on file is for fiscal year 2025 (1 year ago). See detail →

Is it receiving grants from reputable foundations?

GOOD

1 funder — Iowa Farm Bureau Federation

1 distinct foundation funder(s) on file, $10K received in the most recent year with grants. See detail →

How is the money spent?

CRITICAL

0% to programs

0% of total functional expenses went to program services in the most recent filing (Form 990 Part IX); the rest is overhead and fundraising. See detail →

What's its financial size and trend?

NEUTRAL

$100K–1M · ↑ +2% vs prior year

Revenue band $100K–1M, +2% versus the prior filing year (up). See detail →

Membership & operating revenue · FY2024
Total revenue
$164K
Pt VIII · Ln 12
Total expenses
$157K
Pt IX · Ln 25
Net assets
$613K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $7K
Where spending went · Part IX cols B–D
Management & general $1.00
Operating surplus
+4%
revenue over expenses
Earned revenue
12%
of revenue from program services & dues
Payroll share
42%
of spending is salaries & benefits

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Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$613K
FY2024+0.5%
Total liabilities
$54
FY2024▼ -99%
Revenue less expensesPt I · Ln 19$7K
Total assetsPt X · Ln 16$613K
Program-expense ratioPt IX · col B0%
Voting members of governing bodyPt I · Ln 318
Independent voting membersPt I · Ln 418

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 1a18
Independent voting membersPt VI · Ln 1b18
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 (FY2023); the FY2024 filing did not itemize Part VII
$59,304Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$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 · FY2023.
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$121K · 74%
Program service revenue$20K · 12%
Investment income$17K · 10%
Other revenue$6K · 4%
Contributions & grants74%$121K
Program service revenue12%$20K
Investment income10%$17K
Other revenue4%$6K
— government grantsLn 1e$105K
Total revenueLn 12$164K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Management & general $1.00
Management & general100%$157K
Total functional expensesLn 25$157K

Balance Sheet

Part X · end of year
CashLn 1$492K
Total assetsLn 16$613K
Total liabilitiesLn 26$54
Total net assetsLn 32$613K
Months of cash on handcomputed37.6

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $492K · Operating expenses/yr $157K
37.6 months
Where the money goes
Program services
Program services $0 · Total expenses $157K
0%
Management & General
Management & general $157K · Total expenses $157K
100%
Fundraising
Fundraising $0 · Total expenses $157K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $18K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $121K · Total revenue $164K
74%
Government reliance
Government grants $105K · Total revenue $164K
64%
Earned-income share
Program service revenue $20K · Total revenue $164K
12%
Investment reliance
Investment income $17K · Total revenue $164K
+10%
Program self-sufficiency
Program service revenue $20K · Total expenses $157K
13%
Growth & trend
Revenue growth (YoY)
This year $164K · Prior year $161K
+2%
Net-asset trend (YoY)
End of year $613K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $164K · Expenses $157K
+4%
Liabilities-to-Assets
Total liabilities — · Total assets $613K
—
Net-asset ratio
Net assets $613K · Total assets $613K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $613K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Tom Leners Left Dec 2023 · Reported title SECRETARY · Highest reported compensation $59K · Total expenses $157K
38%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $66K · Total expenses $157K
42%
Peer comparison

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

MetricThis orgPeer medianPercentile
Overhead ratio 100%——
Fundraising cost ratio 0%——
Revenue growth 2%——
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 · viewing · ⤓ 990 PDF
FY2023$161K revenue · ⤓ 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) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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