Stuart Enterprise for Economic Development INC FY2023 filing

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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

98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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FY2023 · 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
135 mo
of spending, in cash
Looks good: 134.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10K
0.9% of total assets
Looks good: liabilities are 1% 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
$609K
+28% vs prior year
Spent
$53K
To programs
98%
Net assets
$1.1M
By yearFY2022–FY2024
Revenue
$609K
FY2023▲ +28%
Tap a bar for its year
Revenue by fiscal year
FY2022$475K
FY2023$609K
FY2024$95K
Expenses
$53K
FY2023▼ -89%
Tap a bar for its year
Expenses by fiscal year
FY2022$492K
FY2023$53K
FY2024$77K
Net assets
$1.1M
FY2023▲ +111%
Tap a bar for its year
Net assets by fiscal year
FY2022$503K
FY2023$1.1M
FY2024$1.1M

From the FY2023 Form 990 · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

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% · $52K Management & general 2% · $946 Fundraising 0% · $13

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
See Stuart Enterprise for Economic Development INC 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 15aYes

Programs and updates

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

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Provided by the organization

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3 programs · $52K · in their own filed words · FY2023
01

Affordable housing blight control Grant from City of Stuart, Iowa to acquire and develop land in urban renewal area to give away as free lots conditioned on construction of affordable housing and maintenance of historic train depot as a public building and generally fostering economic development of the community and region

$30Kprogram expense
02

Maintenance of outdoor athletic complex

$20Kprogram expense
03

Grants for regional economic development organization and program to locate a dentist in an underserved rural community support for local chamber of commerce

$3Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$609K
Ln 12
Investment incomeLn 3$397K
Gifts and grantsLn 1h$212K
Other incomeLn 4–11$563
Money outPt IX
$53K
Ln 25
Programscol B$52K
Managementcol C$946
Fundraisingcol D$13
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$596K
Total assetsLn 16$1.1M
LiabilitiesLn 26$10K
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$212K
Government grantsLn 1e$203K
Investment incomeLn 3$397K
Other incomeLn 4–11$563
Gains on assetsLn 7$386K
Total revenueLn 12$609K
Assets in detailPt X, end of year
CashLn 1$596K
Cash and savings togetherLn 1–2$596K
Land, buildings, equipmentLn 10c$472K
Total assetsLn 16$1.1M
LiabilitiesLn 26$10K
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 FY23End FY23
Cash and savingsLn 1–2$32K$596K
Land, buildings, equipmentLn 10c$472K$472K
Total assetsLn 16$504K$1.1M
LiabilitiesLn 26$1K$10K
Net assetsLn 32$503K$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$872$872
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$87$74$13
Information technologyLn 14$75$75
RoyaltiesLn 15$0
OccupancyLn 16$25K$25K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$510$510
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$503$503
Other expenses (24a–d)Ln 24$24K$24K
All other expensesLn 24e$0
Total functional expensesLn 25$53K$52K$946$13

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $95K$77K$18K$1.1M 990 PDF
FY2023 Viewing $609K$53K$556K$1.1M 990 PDF
FY2022 $475K$492K−$17K$503K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $609,482 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $474,976$211,638
I-9 Program service revenue$0
I-10 Investment incomePrior year $26$397,281
I-11 Other revenue$563
I-12 Total revenuePrior year $475,002$609,482
I-13 Grants and similar amounts paidPrior year $2,000$2,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $490,357$51,143
I-18 Total expensesPrior year $492,357$53,143
I-19 Revenue less expensesPrior year −$17,355$556,339
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 $609,482 across 8 lines filed
VIII-1b Membership dues$2,800
VIII-1e Government grants$202,566
VIII-1f All other contributions, gifts and grants$6,272
VIII-1h Total contributions, gifts and grants$211,638
VIII-3 Investment incomeRelated to mission $11,551$11,551
VIII-6 Net rental income or lossRelated to mission $563$563
VIII-7 Net gain or loss on sales of assetsRelated to mission $385,730$385,730
VIII-12 Total revenueRelated to mission $397,844$609,482
Part IX · Statement of functional expenses $53,143 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $2,000$2,000
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal feesManagement $872$872
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$0
IX-13 Office expensesManagement $74 · Fundraising $13$87
IX-14 Information technologyPrograms $75$75
IX-15 Royalties$0
IX-16 OccupancyPrograms $25,000$25,000
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $510$510
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsurancePrograms $503$503
IX-24 Other expenses (24a–d)Programs $24,096$24,096
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $52,184 · Management $946 · Fundraising $13$53,143
Part X · Balance sheet $1,068,562 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $31,604$596,302
X-10c Land, buildings and equipment, netStart of year $472,260$472,260
X-16 Total assetsStart of year $503,864$1,068,562
X-17 Accounts payable and accrued expensesStart of year $1,160$9,519
X-26 Total liabilitiesStart of year $1,160$9,519
X-27 Net assets without donor restrictionsStart of year $30,444$434,343
X-28 Net assets with donor restrictionsStart of year $472,260$624,700
X-32 Total net assets or fund balancesStart of year $502,704$1,059,043
X-33 Total liabilities and net assetsStart of year $503,864$1,068,562
Part XI · Reconciliation of net assets $1,059,043 net assets at year end
XI-1 Total revenue$609,482
XI-2 Total expenses$53,143
XI-3 Revenue less expenses$556,339
XI-4 Net assets at start of year$502,704
XI-10 Net assets at end of year$1,059,043

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

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