philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Stuart Enterprise for Economic Development INC

Not tax-deductible

Stuart, IA501(c)(6)Community Development EIN 42-1467294Revenue $95K in FY2024Latest return filed Nov 13, 2025

On file with the IRSstuartia.com/seed119 E Front St Box 235, 50250-7729 · Stuart, IATax-exempt since Feb 2023

Claim this org

(tell your story, add context, and more)

What claiming does How does your 990 look to donors? Take the 10-Question Audit

Growth of existing & development of new commercial, agricultural, industrial business in Stuart IA, including its trade area & such additional interests important for advancement of that community

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
98¢ of each $1 spent went to programs.
Run by 34 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $186K a year · 47% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
95 mo
of spending, in cash
Looks good: 94.9 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
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$95K
-84% vs prior year
Spent
$77K
To programs
98%
Net assets
$1.1M
By yearFY2022–FY2024
Revenue
$95K
FY2024▼ -84%
Tap a bar for its year
Revenue by fiscal year
FY2022$475K
FY2023$609K
FY2024$95K
Expenses
$77K
FY2024▲ +44%
Tap a bar for its year
Expenses by fiscal year
FY2022$492K
FY2023$53K
FY2024$77K
Net assets
$1.1M
FY2024▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2022$503K
FY2023$1.1M
FY2024$1.1M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2023.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $75K Management & general 2% · $1K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
Cheryl Marks
President
$0Pt VII · Sec A
Kevin Sargent
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Matt Funk
Treasurer
$0Pt VII · Sec A
See Stuart Enterprise for Economic Development INC executive salaries →

On this list? Claim this org

Something off? Claim to add context

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 15aYes

Programs and updates

Fosters business growth and development in Stuart, Iowa, and its surrounding areas.

Questions for Stuart Enterprise for Economic Development INC

Tap to ask. Stuart Enterprise for Economic Development INC sees how many people are interested.

Your first name shows with your question. Stuart Enterprise for Economic Development INC answers here, for everyone.

Provided by the organization

Know this org? Add your story

3 programs · $77K · in their own filed words · FY2024
01

City of Stuart Development Agreement

Rock Island Railroad Depot historic sight used for fostering business retention and expansion and the acquisition of new businesses to the City of Stuart; maintenance and development of recreational facilities and other attractions and amenities.

$62Kprogram expense
02

Wambold 3rd Addition/Phase 4 Housing Project

Acquisition and improvement of land for workforce housing lots granted to qualified individuals with covenants to build qualifying residences within an alotted period. Project ongoing at year-end.

$10Kprogram expense
03

Empowerher and Other Educational and Marketing Efforts

EmpowerHer is a one-day event, held at the historic Saints Center in Stuart, Iowa, signed to inspire, connect and empower women entrepreneurs across the state.

$4Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$95K
Ln 12
Gifts and grantsLn 1h$74K
Investment incomeLn 3$21K
Money outPt IX
$77K
Ln 25
Programscol B$75K
Managementcol C$1K
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$605K
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$74K
Government grantsLn 1e$64K
Investment incomeLn 3$21K
Total revenueLn 12$95K
Assets in detailPt X, end of year
CashLn 1$28K
SavingsLn 2$577K
Cash and savings togetherLn 1–2$605K
Land, buildings, equipmentLn 10c$472K
Total assetsLn 16$1.1M
LiabilitiesLn 26$0
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 634
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$596K$605K
Land, buildings, equipmentLn 10c$472K$472K
Total assetsLn 16$1.1M$1.1M
LiabilitiesLn 26$10K$0
Net assetsLn 32$1.1M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Legal feesLn 11b$11K$11K
Other fees for servicesLn 11g$33K$33K
Office expensesLn 13$50$50
OccupancyLn 16$25K$25K
Conferences, conventions and meetingsLn 19$797$797
InsuranceLn 23$514$514
Other expenses (24a–d)Ln 24$4K$4K
Total functional expensesLn 25$77K$75K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS Nov 13, 2025 $95K$77K$18K$1.1M 990 PDF
FY2023Filed with the IRS Nov 14, 2024 $609K$53K$556K$1.1M 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $475K$492K−$17K$503K 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $94,670 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $211,638$74,010
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $397,281$20,660
I-11 Other revenuePrior year $563$0
I-12 Total revenuePrior year $609,482$94,670
I-13 Grants and similar amounts paidPrior year $2,000$2,055
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 $51,143$74,453
I-18 Total expensesPrior year $53,143$76,508
I-19 Revenue less expensesPrior year $556,339$18,162
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $94,670 across 6 lines filed
VIII-1b Membership dues$3,400
VIII-1e Government grants$63,610
VIII-1f All other contributions, gifts and grants$7,000
VIII-1h Total contributions, gifts and grants$74,010
VIII-3 Investment incomeExcluded from tax $20,660$20,660
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $20,660$94,670
Part IX · Statement of functional expenses $76,508 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $2,055$2,055
IX-11b Legal feesPrograms $10,579$10,579
IX-11g Other fees for servicesPrograms $33,360$33,360
IX-13 Office expensesPrograms $50$50
IX-16 OccupancyPrograms $25,000$25,000
IX-19 Conferences, conventions and meetingsManagement $797$797
IX-23 InsuranceManagement $514$514
IX-24 Other expenses (24a–d)Programs $4,153$4,153
IX-25 Total functional expensesPrograms $75,197 · Management $1,311 · Fundraising $0$76,508
Part X · Balance sheet $1,077,205 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $596,302$27,895
X-2 Savings and temporary cash investments$577,050
X-10c Land, buildings and equipment, netStart of year $472,260$472,260
X-16 Total assetsStart of year $1,068,562$1,077,205
X-26 Total liabilitiesStart of year $9,519$0
X-27 Net assets without donor restrictionsStart of year $434,343$452,505
X-28 Net assets with donor restrictionsStart of year $624,700$624,700
X-32 Total net assets or fund balancesStart of year $1,059,043$1,077,205
X-33 Total liabilities and net assetsStart of year $1,068,562$1,077,205
Part XI · Reconciliation of net assets $1,077,205 net assets at year end
XI-1 Total revenue$94,670
XI-2 Total expenses$76,508
XI-3 Revenue less expenses$18,162
XI-4 Net assets at start of year$1,059,043
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,077,205

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.