Marion Economic Development Company: Nonprofit Profile, Financials & Form 990 (EIN 42-1318828)

Revenue by fiscal year
FY2020	$1.3M
FY2021	$1.3M
FY2022	$883K
FY2023	$497K
FY2024	$471K
FY2025	$613K

Expenses by fiscal year
FY2020	$786K
FY2021	$971K
FY2022	$708K
FY2023	$497K
FY2024	$555K
FY2025	$540K

Net assets by fiscal year
FY2020	$10.1M
FY2021	$10.4M
FY2022	$10.6M
FY2023	$10.6M
FY2024	$10.5M
FY2025	$825K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1969.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $540K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

20 people listed on the 990.

Part VII, Section A · reportable compensation

Emily Kaiser

Board Chair

$0Pt VII · Sec A

Kevin Hupp

Director

$0Pt VII · Sec A

Eric Schmitt

Director

$0Pt VII · Sec A

Brian Gibbs

Director

$0Pt VII · Sec A

Janelle Brouwer

Director

$0Pt VII · Sec A

Mary Rathje

Director

$0Pt VII · Sec A

Brian Rosteck

Director

$0Pt VII · Sec A

Nicole Cavanah

Director

$0Pt VII · Sec A

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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

Boosts and improves economic growth in Marion.

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Provided by the organization

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3 programs · $360K · in their own filed words · FY2025

01

Facilitate relationships between existing businesses and the city of Marion

$180Kprogram expense

02

Community and educational outreach Establish Relationships with potential new businesses to move into Marion

$180Kprogram expense

03

Facilitate relationships between existing businesses and the city of Marion

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 · funders on record

Grants received · FY2024

Collins Community Credit UnionFY2024$6K

Total grants receivedfrom 1 funder$6K

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$613K

Ln 12

Gifts and grantsLn 1h$601K

Fees for servicesLn 2g$12K

Money outPt IX

$540K

Ln 25

Programscol B$540K

Owns and owesPt X

$825K

net assets · Ln 32

Cash and savingsLn 1–2$391K

Total assetsLn 16$825K

LiabilitiesLn 26$0

PeoplePt VI, VII

20

listed · VII A

PaidVII A0

Voting boardVI 1a22

IndependentVI 1b22

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$601K

Government grantsLn 1e$140K

Fees for servicesLn 2g$12K

Total revenueLn 12$613K

Assets in detailPt X, end of year

CashLn 1$391K

Cash and savings togetherLn 1–2$391K

Land, buildings, equipmentLn 10c$429K

Total assetsLn 16$825K

LiabilitiesLn 26$0

Net assetsLn 32$825K

OperationsPt I, VI

EmployeesI 54

VolunteersI 650

Fiscal year endsHeaderDecember

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$96K	$391K
Land, buildings, equipmentLn 10c		$429K
Total assetsLn 16	$184K	$825K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$184K	$825K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of current officers, directors and key staffLn 5	$352K	$352K
Other employee benefitsLn 9	$17K	$17K
Payroll taxesLn 10	$23K	$23K
Legal feesLn 11b	$294	$294
Accounting feesLn 11c	$3K	$3K
Advertising and promotionLn 12	$37K	$37K
Office expensesLn 13	$9K	$9K
OccupancyLn 16	$78K	$78K
InsuranceLn 23	$17K	$17K
Other expenses (24a–d)Ln 24	$5K	$5K
Total functional expensesLn 25	$540K	$540K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$613K	$540K	$74K	$825K	990 PDF
FY2024Filed with the IRS Jun 9, 2025	$471K	$555K	−$84K	$10.5M	990 PDF
FY2023Filed with the IRS Jul 29, 2024	$497K	$497K	$84	$10.6M	990 PDF
FY2022Filed with the IRS Jun 28, 2023	$883K	$708K	$174K	$10.6M	990 PDF
FY2021Filed with the IRS Sep 21, 2022	$1.3M	$971K	$329K	$10.4M	990 PDF
FY2020Filed with the IRS Sep 21, 2022	$1.3M	$786K	$477K	$10.1M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $613,418 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $586,972$601,418

I-9 Program service revenuePrior year $6,000$12,000

I-10 Investment incomePrior year $4,709$0

I-11 Other revenuePrior year $27,737$0

I-12 Total revenuePrior year $625,418$613,418

I-13 Grants and similar amounts paidPrior year $340,154$0

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $340,154$391,208

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $209,923$148,296

I-18 Total expensesPrior year $890,231$539,504

I-19 Revenue less expensesPrior year −$264,813$73,914

Part VI · Governance 22 of 22 board members independent, 4 to look at

VI-1a Voting members of the governing body22

VI-1b Independent voting members22

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 $613,418 across 7 lines filed

VIII-1b Membership dues$426,972

VIII-1e Government grants$140,000

VIII-1f All other contributions, gifts and grants$34,446

VIII-1h Total contributions, gifts and grants$601,418

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,000 · Excluded from tax $6,000$12,000

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $6,000 · Unrelated business $0 · Excluded from tax $6,000$613,418

Part IX · Statement of functional expenses $539,504 across 10 lines filed

IX-5 Pay of current officers, directors and key staffPrograms $351,864$351,864

IX-9 Other employee benefitsPrograms $16,779$16,779

IX-10 Payroll taxesPrograms $22,565$22,565

IX-11b Legal feesPrograms $294$294

IX-11c Accounting feesPrograms $2,747$2,747

IX-12 Advertising and promotionPrograms $36,755$36,755

IX-13 Office expensesPrograms $8,944$8,944

IX-16 OccupancyPrograms $77,517$77,517

IX-23 InsurancePrograms $16,779$16,779

IX-24 Other expenses (24a–d)Programs $5,260$5,260

IX-25 Total functional expensesPrograms $539,504 · Management $0 · Fundraising $0$539,504

Part X · Balance sheet $824,732 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $95,885$390,877

X-4 Accounts receivableStart of year $43,995$5,080

X-10c Land, buildings and equipment, net$428,775

X-16 Total assetsStart of year $183,825$824,732

X-26 Total liabilitiesStart of year $0$0

X-27 Net assets without donor restrictionsStart of year $183,825$824,732

X-32 Total net assets or fund balancesStart of year $183,825$824,732

X-33 Total liabilities and net assetsStart of year $183,825$824,732

Part XI · Reconciliation of net assets $824,732 net assets at year end

XI-1 Total revenue$613,418

XI-2 Total expenses$539,504

XI-3 Revenue less expenses$73,914

XI-4 Net assets at start of year$183,825

XI-5 Net unrealized gains (losses) on investments$566,993

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$824,732

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

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Marion Economic Development Company

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 Marion Economic Development Company

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV