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Durant Development Corporation FY2022 filing

Not tax-deductible

Durant, IA501(c)(6)EIN 42-1324829Revenue $37K in FY2022

On file with the IRS502 8th Ave, 52747-7706 · Durant, IATax-exempt since Mar 1990

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The Durant Development Corporation was established with the purpose to encourage, assist, maintain, and develop in and for the city of Durant and surrounding area, industrial and business projects of such character as will enlarge employment opportunities and aid the growth and Development of the city of Durant and the surrounding area. The organization does this through the following activities: 1. Researching and locating desirable new businesses for establishment and Development in Durant. Presenting our community as a good place for the companies to locate or expand. We accomplish this by gathering information about infrastructure, site availability and pricing, comparative wage scales and similar facts about our community to present to Development prospects. This work is done by volunteer board members. 2. Attempting to bring available land under control so we can market the land to prospects at an attractive price. We accomplish this by researching available land, and negotiating

83¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
6 of 6
filings with a surplus
Average surplus $42K a year · 95% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1864 mo
of spending, in cash
Looks good: 1864.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$37K
-15% vs prior year
Spent
$4K
To programs
83%
Net assets
$669K
By yearFY2020–FY2025
Revenue
$37K
FY2022▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$91K
FY2021$44K
FY2022$37K
FY2023$29K
FY2024$51K
FY2025$14K
Expenses
$4K
FY2022▲ +31%
Tap a bar for its year
Expenses by fiscal year
FY2020$3K
FY2021$3K
FY2022$4K
FY2023$2K
FY2024$2K
FY2025$938
Net assets
$669K
FY2022▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$594K
FY2021$635K
FY2022$669K
FY2023$697K
FY2024$746K
FY2025$759K

From the FY2022 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 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 Mar 1990.

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

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $3K Management & general 17% · $626

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Dan Alpen
President
$0Pt VII · Sec A
Tom Compton
Director
$0Pt VII · Sec A
Delmar Frick
Director
$0Pt VII · Sec A
Michael R Hein
Secretary/Tr
$0Pt VII · Sec A
Gary Paper
Director
$0Pt VII · Sec A
Brad Witt
Vice Preside
$0Pt VII · Sec A
See Durant Development Corporation executive salaries →

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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

Attracts and supports businesses to create jobs and grow the local economy.

Questions for Durant Development Corporation

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Provided by the organization

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1 program · $3K · in their own filed words · FY2022
01

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

$3Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$37K
Ln 12
Investment incomeLn 3$34K
Fees for servicesLn 2g$4K
Gifts and grantsLn 1h$500
Money outPt IX
$4K
Ln 25
Programscol B$3K
Managementcol C$626
Owns and owesPt X
$669K
net assets · Ln 32
Cash and savingsLn 1–2$581K
Total assetsLn 16$669K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$500
Fees for servicesLn 2g$4K
Investment incomeLn 3$34K
Gains on assetsLn 7$28K
Total revenueLn 12$37K
Assets in detailPt X, end of year
SavingsLn 2$581K
Cash and savings togetherLn 1–2$581K
Land, buildings, equipmentLn 10c$88K
Total assetsLn 16$669K
LiabilitiesLn 26$0
Net assetsLn 32$669K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$400K$581K
Land, buildings, equipmentLn 10c$235K$88K
Total assetsLn 16$635K$669K
LiabilitiesLn 26$0$0
Net assetsLn 32$635K$669K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$450$450
Other fees for servicesLn 11g$20$20
Office expensesLn 13$51$51
InsuranceLn 23$296$296
Other expenses (24a–d)Ln 24$1K$1K$125
Total functional expensesLn 25$4K$3K$626$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $14K$938$13K$759K 990 PDF
FY2024 $51K$2K$49K$746K 990 PDF
FY2023 $29K$2K$28K$697K 990 PDF
FY2022 Viewing $37K$4K$34K$669K 990 PDF
FY2021 $44K$3K$41K$635K 990 PDF
FY2020 $91K$3K$87K$594K 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 FY2022 990 (6 parts)
Part I · Summary $37,416 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,955$500
I-9 Program service revenuePrior year $3,800$3,800
I-10 Investment incomePrior year $37,774$34,156
I-11 Other revenuePrior year −$286−$1,040
I-12 Total revenuePrior year $44,243$37,416
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 $2,844$3,738
I-18 Total expensesPrior year $2,844$3,738
I-19 Revenue less expensesPrior year $41,399$33,678
Part VI · Governance 6 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $37,416 across 7 lines filed
VIII-1f All other contributions, gifts and grants$500
VIII-1h Total contributions, gifts and grants$500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,800$3,800
VIII-3 Investment incomeRelated to mission $6,220$6,220
VIII-6 Net rental income or lossExcluded from tax −$1,040−$1,040
VIII-7 Net gain or loss on sales of assetsRelated to mission $27,936$27,936
VIII-12 Total revenueRelated to mission $37,956 · Excluded from tax −$1,040$37,416
Part IX · Statement of functional expenses $3,738 across 6 lines filed
IX-11b Legal feesPrograms $1,489$1,489
IX-11c Accounting feesManagement $450$450
IX-11g Other fees for servicesPrograms $20$20
IX-13 Office expensesManagement $51$51
IX-23 InsurancePrograms $296$296
IX-24 Other expenses (24a–d)Programs $1,307 · Management $125$1,432
IX-25 Total functional expensesPrograms $3,112 · Management $626 · Fundraising $0$3,738
Part X · Balance sheet $668,849 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $400,352$580,671
X-10c Land, buildings and equipment, netStart of year $234,819$88,178
X-16 Total assetsStart of year $635,171$668,849
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $635,171$668,849
X-33 Total liabilities and net assetsStart of year $635,171$668,849
Part XI · Reconciliation of net assets $668,849 net assets at year end
XI-1 Total revenue$37,416
XI-2 Total expenses$3,738
XI-3 Revenue less expenses$33,678
XI-4 Net assets at start of year$635,171
XI-10 Net assets at end of year$668,849

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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