Dewitt Chamber & Development Co FY2023 filing

EIN 42-1342254 Public charity (501(c)(3)) Dewitt, IA
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Revenue & expenses by yearFY2020–FY2025
Revenue
$238K
FY2023▼ -12%
Expenses
$258K
FY2023▲ +8%

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


Promotes community growth by supporting businesses and enhancing quality of life. For fiscal year 2023 it reported $238K in revenue, $258K in expenses, and $661K in net assets.Pt I

Type
Public charity (501(c)(3)) · Nonprofit
Location
Dewitt, IA
Website
www.dewittdevelopmentcompany.com
Filings
6 on file (2020–2023)
Revenue
$238KFY2023
Expenses
$258K
Net assets
$661K
People
19
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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Size
$100K–1M
What they do
Promotes community growth by supporting businesses and enhancing quality of life.
Leadership
Angela Rheingans · Board Sec/Ex · $104K
Money in and out
$238K revenue, $258K expenses
Bottom line
37% program efficiency

What Funders Ask

From IRS filings

Tax-deductible?

good Yes

Per the IRS master file. Details →

Can I give now?

good Yes

Not on the IRS revocation list. Details →

Filing up to date?

good Filed FY2024 (typical filing lag)

Details →

Spent on programs?

critical 37% to programs

Form 990 Part IX, latest filing. Details →

Size and trend

$100K–1M

↓ -12% vs prior year Details →

Not in filings yet: foundation funders

Where the money goes · FY2023
Total revenue
$238K
Pt VIII · Ln 12
Total expenses
$258K
Pt IX · Ln 25
Net assets
$661K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$19K
Where spending went · Part IX cols B–D
Program services $0.37 Management & general $0.63
Program efficiency
37%
of spending reaches programs
Operating runway
30.1mo
months of highly liquid reserves at operating expense rate
Surplus margin
-8%
revenue over expenses, this year

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Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$809K
FY2023▲ +1%
Total liabilities
$148K
FY2023▲ +25%
Revenue less expensesPt I · Ln 19−$19K
Total assetsPt X · Ln 16$809K
Program-expense ratioPt IX · col B37%
Voting members of governing bodyPt I · Ln 319
Independent voting membersPt I · Ln 419

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 1a19
Independent voting membersPt VI · Ln 1b19
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 (FY2022); the FY2023 filing did not itemize Part VII
Board Sec/Ex
$103,667Pt VII · Sec A
$0Pt VII · Sec A
City Council
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$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 $65K of program spending, described in the organization's own filed words · FY2022.
01

The DCDC works to improve branding and community relations for the dewitt community. Total number of community events we promoted grew to 815 community events which was distributed to over 2,000 subscribers to our weekly "what's happening in dewitt" e-newsletter, and shared to 5,000 followers on social media.

$51Kprogram expense
02

The DCDC is involved in supporting existing businesses and recruiting new businesses to the dewitt area. The DCDC partners with three regional economic development entities, grow clinton, quad cities chamber, and prosperity eastern iowa, and the state of iowa to recruit new business to the crossroads business park and community at large.

$14Kprogram expense
03

The DCDC promotes member business development. Membership includes 243 member businesses. We continue to offer a dues structure that allows members to choose the tier of membership they can afford and what they would benefit from.

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$213K · 89%
Program service revenue$17K · 7%
Investment income$6K · 3%
Other revenue$3K · 1%
Contributions & grants89%$213K
Program service revenue7%$17K
Investment income3%$6K
Other revenue1%$3K
— government grantsLn 1e$99K
Total revenueLn 12$238K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.37 Management & general $0.63
Program services37%$96K
Management & general63%$162K
Total functional expensesLn 25$258K

Balance Sheet

Part X · end of year
CashLn 1$606K
Total assetsLn 16$809K
Total liabilitiesLn 26$148K
Total net assetsLn 32$661K
Months of cash on handcomputed28.2

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $646K · Operating expenses/yr $258K
30.1 months
Where the money goes
Program services
Program services $96K · Total expenses $258K
37%
Management & General
Management & general $162K · Total expenses $258K
63%
Fundraising
Fundraising $0 · Total expenses $258K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $162K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $213K · Total revenue $238K
89%
Government reliance
Government grants $99K · Total revenue $238K
41%
Earned-income share
Program service revenue $17K · Total revenue $238K
7%
Investment reliance
Investment income $6K · Total revenue $238K
+3%
Program self-sufficiency
Program service revenue $17K · Total expenses $258K
7%
Growth & trend
Revenue growth (YoY)
This year $238K · Prior year $272K
-12%
Net-asset trend (YoY)
End of year $661K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $238K · Expenses $258K
-8%
Liabilities-to-Assets
Total liabilities — · Total assets $809K
—
Net-asset ratio
Net assets $661K · Total assets $809K
82%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $40K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $809K
5%
People & payroll
Highest Reported Total Compensation
Individual Angela Rheingans · Reported title BOARD SEC/EX · Highest reported compensation $104K · Total expenses $258K
40%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $193K · Total expenses $258K
75%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 37%——
Overhead ratio 63%——
Fundraising cost ratio 0%——
Revenue growth -12%——
Accounting fee ratio 2%——

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 · viewing · ⤓ 990 PDF
FY2022$272K revenue · ⤓ 990 PDF
FY2021$303K revenue · ⤓ 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) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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