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Madrid Educational Endowment Foundation FY2023 filing

Tax-deductible

Madrid, IA501(c)(3)UnclassifiedEIN 42-1350462Revenue $416K in FY2023

On file with the IRS599 N Kennedy Ave, 50156-7601 · Madrid, IATax-exempt since Sep 1994Publicly supported charity — 170(b)(1)(A)(vi)

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Organized to promote, develop and foster excellence in all aspects of the Madrid Community School District by providing a source of capital

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
3 of 3
filings with a surplus
Average surplus $161K a year · 90% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
330 mo
of spending, in cash
Looks good: 330.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $75K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$416K
×287 vs prior year
Spent
$31K
To programs
99%
Net assets
$865K
By yearFY2022–FY2025
Revenue
$416K
FY2023▲ ×287
Tap a bar for its year
Revenue by fiscal year
FY2022$1K
FY2023$416K
FY2024$48K
FY2025$73K
Expenses
$31K
FY2023
Tap a bar for its year
Expenses by fiscal year
FY2022Not on file
FY2023$31K
FY2024$8K
FY2025$12K
Net assets
$865K
FY2023▲ +80%
Tap a bar for its year
Net assets by fiscal year
FY2022$480K
FY2023$865K
FY2024$904K
FY2025$965K

From the FY2023 Form 990 (year ending June 2023) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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 Sep 1994.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $31K Management & general 1% · $434

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Marty Knox
President
$0Pt VII · Sec A
Rollin Cronk
Treasurer
$0Pt VII · Sec A
Mardi Peasley
Secretary
$0Pt VII · Sec A
Krista Dean
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Madrid Educational Endowment Foundation 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

Fund capital projects to improve and develop the Madrid Community School District.

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Provided by the organization

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2 programs · $31K · in their own filed words · FY2022
01

Provided funds to Madrid Schools for purchase of After-School Program curriculum and acoustic shell for Fine Arts Program

$25Kprogram expense
02

Provided 12 scholarships of $500 each

$6Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Good Words FoundationFY2024$75K
Total grants receivedfrom 1 funder$75K
Grants paid · 3 grants · $51K · 2022–2024
Madrid Community SchoolsFY2024$12,000
Madrid SchoolsFY2023$8,000
Madrid Community SchoolsFY2022$31,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$416K
Ln 12
Gifts and grantsLn 1h$414K
Investment incomeLn 3$2K
Money outPt IX
$31K
Ln 25
Programscol B$31K
Managementcol C$434
Owns and owesPt X
$865K
net assets · Ln 32
Cash and savingsLn 1–2$865K
Total assetsLn 16$865K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$414K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Investment incomeLn 3$2K
Total revenueLn 12$416K
Assets in detailPt X, end of year
SavingsLn 2$865K
Cash and savings togetherLn 1–2$865K
Total assetsLn 16$865K
LiabilitiesLn 26$0
Net assetsLn 32$865K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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
LineStart FY23End FY23
Cash and savingsLn 1–2$480K$865K
Total assetsLn 16$480K$865K
LiabilitiesLn 26$0$0
Net assetsLn 32$480K$865K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$31K$31K
Investment management feesLn 11f$28$28
Advertising and promotionLn 12$406$406
Total functional expensesLn 25$31K$31K$434$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $73K$12K$61K$965K 990 PDF
FY2024 $48K$8K$40K$904K 990 PDF
FY2023 Viewing $416K$31K$384K$865K 990 PDF
FY2022 $1K$480K 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 FY2023 990 (6 parts)
Part I · Summary $415,764 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $775$413,979
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $676$1,785
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $1,451$415,764
I-13 Grants and similar amounts paidPrior year $6,000$31,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $542$434
I-18 Total expensesPrior year $6,542$31,434
I-19 Revenue less expensesPrior year −$5,091$384,330
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $415,764 across 11 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$413,979
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$413,979
VIII-3 Investment incomeRelated to mission $1,785 · Unrelated business $0 · Excluded from tax $0$1,785
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $1,785 · Unrelated business $0 · Excluded from tax $0$415,764
Part IX · Statement of functional expenses $31,434 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $31,000$31,000
IX-11f Investment management feesManagement $28$28
IX-12 Advertising and promotionManagement $406$406
IX-25 Total functional expensesPrograms $31,000 · Management $434 · Fundraising $0$31,434
Part X · Balance sheet $864,619 assets, 5 lines filed
X-2 Savings and temporary cash investmentsStart of year $480,289$864,619
X-16 Total assetsStart of year $480,289$864,619
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $480,289$864,619
X-33 Total liabilities and net assetsStart of year $480,289$864,619
Part XI · Reconciliation of net assets $864,619 net assets at year end
XI-1 Total revenue$415,764
XI-2 Total expenses$31,434
XI-3 Revenue less expenses$384,330
XI-4 Net assets at start of year$480,289
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$864,619

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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