Dewitt Chamber & Development Co FY2021 filing

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EIN 42-1342254 Public charity (501(c)(3)) Dewitt, IA
Form 990 (PDF)

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Revenue & expenses by yearFY2020–FY2025
Revenue
$303K
FY2021▲ +15%
Expenses
$209K
FY2021▲ +2%

Form 990 for the fiscal year ending May 2021 (IRS tax year 2020).


Promotes community growth by supporting businesses and enhancing quality of life. For fiscal year 2021 it reported $303K in revenue, $209K in expenses, and $646K in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Dewitt, IA
Website
www.dewittdevelopmentcompany.com
Filings
6 on file (2020–2021)
Revenue
$303KFY2021
Expenses
$209K
Net assets
$646K
People
18
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Size
$100K–1M
What they do
Promotes community growth by supporting businesses and enhancing quality of life.
Leadership
Angela Rheingans · Board Sec/Ex · $82K
Money in and out
$303K revenue, $209K expenses
Bottom line
17% program efficiency

What Funders Ask

6 questions, answered from this org's own filings

Will my donation be tax-deductible?

GOOD

Yes — A charitable, religious, educational, scientific, or literary organization. Contributions are generally tax-deductible for donors.

IRS Business Master File records this organization as tax-exempt with deductible contributions. 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

Filed FY2024 (typical filing lag)

Most recent Form 990 on file is for fiscal year 2024 (2 years ago). See detail →

Is it receiving grants from reputable foundations?

NEUTRAL

No foundation grants on file

No Schedule I/Schedule R grants from other foundations are on file for this EIN. See detail →

How is the money spent?

CRITICAL

17% to programs

17% 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 · ↑ +15% vs prior year

Revenue band $100K–1M, +15% versus the prior filing year (up). See detail →

Where the money goes · FY2021
Total revenue
$303K
Pt VIII · Ln 12
Total expenses
$209K
Pt IX · Ln 25
Net assets
$646K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $94K
Where spending went · Part IX cols B–D
Program services $0.17 Management & general $0.83
Program efficiency
17%
of spending reaches programs
Operating runway
34.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
+31%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2021 · Form 990
Total assets
$867K
FY2021▲ +3%
Total liabilities
$221K
FY2021▼ -24%
Revenue less expensesPt I · Ln 19$94K
Total assetsPt X · Ln 16$867K
Program-expense ratioPt IX · col B17%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416

Identity & Classification

Form 990 Header · IRS Business Master File
Legal name (IRS)Hdr · item CDewitt Chamber & Development Co
EINHdr · item D42-1342254
Principal addressHdr · item CDewitt, IA
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFNonprofit
Ruling yearIRS BMFJul 1994

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b16
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 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board Sec/Ex
$81,950Pt VII · Sec A
$0Pt VII · Sec A
City Council
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Exec Board
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Angela Rheingans$113,000$107,000$103,667$97,750$81,950$77,168

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

3 program services account for $36K of program spending, described in the organization's own filed words · FY2020.
01

The DCDC works to improve branding and community relations for the dewitt community. Total number of community events we promoted grew to 943 community events which was distributed to thousands of subscribers to our weekly "what's happening in dewitt" e-newsletter.

$31Kprogram expense
02

The DCDC is involved in supporting existing businesses and recruiting new businesses to the dewitt area. The DCDC partnered with the small business center to provide free couseling for businessowners, 31 participated. 37,800 of chamber bucks were sold, keeping spending dollars in dewitt.

$5Kprogram expense
03

The DCDC promotes member development. Membership includes 231 member businesses. Membership dues structure did not change. We continue to offer a dues structure that allows members to choose what level of membership they prefer.

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$252K · 83%
Program service revenue$30K · 10%
Investment income$17K · 6%
Other revenue$3K · 1%
Contributions & grants83%$252K
Program service revenue10%$30K
Investment income6%$17K
Other revenue1%$3K
— government grantsLn 1e$70K
Total revenueLn 12$303K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.17 Management & general $0.83
Program services17%$36K
Management & general83%$173K
Total functional expensesLn 25$209K

Balance Sheet

Part X · end of year
CashLn 1$563K
Total assetsLn 16$867K
Total liabilitiesLn 26$221K
Total net assetsLn 32$646K
Months of cash on handcomputed32.3

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $603K · Operating expenses/yr $209K
34.6 months
Where the money goes
Program services
Program services $36K · Total expenses $209K
17%
Management & General
Management & general $173K · Total expenses $209K
83%
Fundraising
Fundraising $0 · Total expenses $209K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $185K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $252K · Total revenue $303K
83%
Government reliance
Government grants $70K · Total revenue $303K
23%
Earned-income share
Program service revenue $30K · Total revenue $303K
10%
Investment reliance
Investment income $17K · Total revenue $303K
+6%
Program self-sufficiency
Program service revenue $30K · Total expenses $209K
14%
Growth & trend
Revenue growth (YoY)
This year $303K · Prior year $264K
+15%
Net-asset trend (YoY)
End of year $646K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $303K · Expenses $209K
+31%
Liabilities-to-Assets
Total liabilities — · Total assets $867K
—
Net-asset ratio
Net assets $646K · Total assets $867K
75%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $40K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $867K
5%
People & payroll
Highest Reported Total Compensation
Individual Angela Rheingans · Reported title BOARD SEC/EX · Highest reported compensation $82K · Total expenses $209K
39%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $163K · Total expenses $209K
78%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 17%——
Overhead ratio 83%——
Fundraising cost ratio 0%——
Revenue growth 15%——
Accounting fee ratio 0.9%——

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.

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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 (Latest)$511K revenue · ⤓ 990 PDF
FY2024$317K revenue · ⤓ 990 PDF
FY2023$238K revenue · ⤓ 990 PDF
FY2022$272K revenue · ⤓ 990 PDF
FY2021$303K revenue · viewing · ⤓ 990 PDF
FY2020$264K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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