Buchanan County Economic Development Commission FY2021 filing

Not tax-deductible

Independence, IA501(c)(4)EIN 42-1441695Revenue $146K in FY2021

On file with the IRSgrowbuchanancounty.comPo Box 109, 50644-0109 · Independence, IATax-exempt since Nov 1996

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The primary mission of Buchanan County Economic Development Commission (bcedc) is to foster a strong Economic environment which supports business, nurtures growth and new investment while attracting sustainable businesses and a quality labor force to our communities. The organization will rely on trusting relationships to unite the communities of Buchanan County to promote and facilitate Economic Development, and to improve the quality of life in our area by building sustainable wealth for those who live, work and play in this portion of the cedar valley region of iowa.

60¢ of each $1 spent went to programs.
$55K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
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
3 of 5
filings with a surplus
Average surplus $13K a year · 8% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$55K
to officers and key staff · 52% of spending
Concern: pay to officers and key staff is 52% of spending; over 30%.
Pt VII · Sec A
Cash reserves
64 mo
of spending, in cash
Looks good: 64.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $5K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$18K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$146K
Spent
$106K
To programs
60%
Net assets
$606K
By yearFY2021–FY2025
Revenue
$146K
FY2021
Revenue by fiscal year
FY2021$146K
FY2022$149K
FY2023$154K
FY2024$160K
FY2025$161K
Expenses
$106K
FY2021
Expenses by fiscal year
FY2021$106K
FY2022$125K
FY2023$160K
FY2024$161K
FY2025$154K
Net assets
$606K
FY2021
Net assets by fiscal year
FY2021$606K
FY2022$630K
FY2023$625K
FY2024$624K
FY2025$630K

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 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 Nov 1996.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $64K Management & general 33% · $34K Fundraising 7% · $8K

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

18 people listed on the 990; $55K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Di
$55,000Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Lisa Kremer$75,000$70,000$66,600$58,500$55,000
Shawn Bainbridge$21,365————

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.

See Buchanan County Economic Development Commission 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

Fosters economic growth and investment to improve quality of life.

Provided by the organization

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1 program · $64K · in their own filed words · FY2020
01

See schedule o

$64Kprogram 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
Total grants receivedfrom 1 funder$5K
Grants paid · 3 grants · $30K · 2022–2023
Gedney BakeryFY2023$10,000
Nicks GroceryFY2022$10,000
Balanced NutritionFY2022$10,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$146K
Ln 12
Gifts and grantsLn 1h$142K
Investment incomeLn 3$4K
Money outPt IX
$106K
Ln 25
Programscol B$64K
Managementcol C$34K
Fundraisingcol D$8K
Owns and owesPt X
$606K
net assets · Ln 32
Cash and savingsLn 1–2$564K
Total assetsLn 16$624K
LiabilitiesLn 26$18K
PeoplePt VI, VII
18
listed · VII A
PaidVII A1
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$142K
Government grantsLn 1e$15K
Investment incomeLn 3$4K
Total revenueLn 12$146K
Assets in detailPt X, end of year
CashLn 1$17K
SavingsLn 2$547K
Cash and savings togetherLn 1–2$564K
Land, buildings, equipmentLn 10c$1K
Other assetsLn 15$59K
Total assetsLn 16$624K
LiabilitiesLn 26$18K
Net assetsLn 32$606K
OperationsPt I, VI
EmployeesI 51
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 FY21End FY21
Cash and savingsLn 1–2$506K$564K
Land, buildings, equipmentLn 10c$2K$1K
Total assetsLn 16$569K$624K
LiabilitiesLn 26$3K$18K
Net assetsLn 32$565K$606K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$58K$32K$20K$6K
Pension plan contributionsLn 8$8K$4K$3K$816
Payroll taxesLn 10$4K$2K$2K$444
Accounting feesLn 11c$4K$4K
OccupancyLn 16$9K$8K$888
Depreciation, depletion and amortizationLn 22$557$501$56
Other expenses (24a–d)Ln 24$16K$13K$2K$347
All other expensesLn 24e$7K$4K$3K$303
Total functional expensesLn 25$106K$64K$34K$8K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $161K$154K$7K$630K 990 PDF
FY2024 $160K$161K−$1K$624K 990 PDF
FY2023 $154K$160K−$5K$625K 990 PDF
FY2022 $149K$125K$24K$630K 990 PDF
FY2021 Viewing $146K$106K$41K$606K 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 FY2021 990 (6 parts)
Part I · Summary $146,332 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $131,285$142,447
I-9 Program service revenue$0
I-10 Investment incomePrior year $4,460$3,885
I-11 Other revenue$0
I-12 Total revenuePrior year $135,745$146,332
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $87,748$70,191
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $34,010$35,567
I-18 Total expensesPrior year $121,758$105,758
I-19 Revenue less expensesPrior year $13,987$40,574
Part VI · Governance 17 of 17 board members independent, 4 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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 $146,332 across 5 lines filed
VIII-1e Government grants$15,283
VIII-1f All other contributions, gifts and grants$127,164
VIII-1h Total contributions, gifts and grants$142,447
VIII-3 Investment incomeExcluded from tax $3,885$3,885
VIII-12 Total revenueExcluded from tax $3,885$146,332
Part IX · Statement of functional expenses $105,758 across 8 lines filed
IX-7 Other salaries and wagesPrograms $31,676 · Management $20,157 · Fundraising $5,759$57,592
IX-8 Pension plan contributionsPrograms $4,486 · Management $2,855 · Fundraising $816$8,157
IX-10 Payroll taxesPrograms $2,443 · Management $1,555 · Fundraising $444$4,442
IX-11c Accounting feesManagement $3,830$3,830
IX-16 OccupancyPrograms $7,994 · Management $888$8,882
IX-22 Depreciation, depletion and amortizationPrograms $501 · Management $56$557
IX-24 Other expenses (24a–d)Programs $12,999 · Management $2,158 · Fundraising $347$15,504
IX-24e All other expensesPrograms $3,578 · Management $2,913 · Fundraising $303$6,794
IX-25 Total functional expensesPrograms $63,677 · Management $34,412 · Fundraising $7,669$105,758
Part X · Balance sheet $624,100 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $506,193$16,763
X-2 Savings and temporary cash investments$547,447
X-10c Land, buildings and equipment, netStart of year $1,694$1,137
X-15 Other assetsStart of year $61,088$58,753
X-16 Total assetsStart of year $568,975$624,100
X-17 Accounts payable and accrued expensesStart of year $3,482$2,750
X-24 Unsecured notes and loans payable$15,283
X-26 Total liabilitiesStart of year $3,482$18,033
X-27 Net assets without donor restrictionsStart of year $565,493$606,067
X-32 Total net assets or fund balancesStart of year $565,493$606,067
X-33 Total liabilities and net assetsStart of year $568,975$624,100
Part XI · Reconciliation of net assets $606,067 net assets at year end
XI-1 Total revenue$146,332
XI-2 Total expenses$105,758
XI-3 Revenue less expenses$40,574
XI-4 Net assets at start of year$565,493
XI-10 Net assets at end of year$606,067

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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