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Coon Rapids Development Group FY2023 filing

Not tax-deductible

Coon Rapids, IA501(c)(4)Community Development EIN 42-1493044Revenue $145K in FY2023

On file with the IRScoonrapidsiowa.comC/O Dee Zook 123 3rd Ave, 50058-0000 · Coon Rapids, IATax-exempt since Jul 2002

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Coon Rapids Development Group (crdg) has been organized to assist in economic Development of Coon Rapids, IA and surrounding areas. Funds are used to promote the community and make IT an attractive and prosperous place to live and DO business. To further their goals, crdg is providing attractive, affordable sites for residential Development; assisting and promoting economic Development; promoting community spirit through various events and projects throughout the year; and providing for community beautification.

501(c)(4) social-welfare organization; gifts are not tax-deductible as charitable contributions.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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
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
5 of 5
filings with a surplus
Average surplus $58K a year · 61% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
76 mo
of spending, in cash
Looks good: 75.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $13K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$32K
6% of total assets
Looks good: liabilities are 6% 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
$145K
+85% vs prior year
Spent
$38K
To programs
94%
Net assets
$531K
By yearFY2020–FY2024
Revenue
$145K
FY2023▲ +85%
Tap a bar for its year
Revenue by fiscal year
FY2020$133K
FY2021$68K
FY2022$79K
FY2023$145K
FY2024$57K
Expenses
$38K
FY2023▲ +188%
Tap a bar for its year
Expenses by fiscal year
FY2020$74K
FY2021$36K
FY2022$13K
FY2023$38K
FY2024$28K
Net assets
$531K
FY2023▲ +25%
Tap a bar for its year
Net assets by fiscal year
FY2020$327K
FY2021$359K
FY2022$424K
FY2023$531K
FY2024$560K

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 Jul 2002.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $36K Management & general 6% · $2K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Caylor Deeth
Director
$0Pt VII · Sec A
Chris Eddy
Director
$0Pt VII · Sec A
Adam Esdohr
Director
$0Pt VII · Sec A
Brad Honold
Director
$0Pt VII · Sec A
Andy Klein
President
$0Pt VII · Sec A
Jessica Leighty
Secretary/Tr
$0Pt VII · Sec A
Nathan Muench
Vice Preside
$0Pt VII · Sec A
See Coon Rapids Development Group 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes community growth and prosperity through development, events, and beautification.

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Provided by the organization

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3 programs · $36K · in their own filed words · FY2023
01

To assist in the economic development of coon rapids, ia and the surrounding areas. This serves to enhance and promote the community as an attractive and prosperous place to live and do business.

$28Kprogram expense
02

Expenditures were made in order to provide attractive and affordable sites for residential development.

$6Kprogram expense
03

Promotion of community spirit through various annual events and projects. These include holiday celebrations (easter, 4TH of july, christmas, etc.); golf outing; community wide garage sale; farmers market; RUN/WALK competition; bus tours; welcome wagon & other community celebrations.

$2Kprogram 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 · FY2020
Creating Great PlacesFY2020$13K
Total grants receivedfrom 1 funder$13K
Grants paid · 2 grants · $37K · 2023–2024
Unitemized GrantFY2024$10,000
Region Xii Council of GovernmentFY2023$26,762

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$145K
Ln 12
Gifts and grantsLn 1h$170K
Investment incomeLn 3$2K
Fees for servicesLn 2g$2K
Money outPt IX
$38K
Ln 25
Programscol B$36K
Managementcol C$2K
Owns and owesPt X
$531K
net assets · Ln 32
Cash and savingsLn 1–2$242K
Total assetsLn 16$563K
LiabilitiesLn 26$32K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$170K
Government grantsLn 1e$60K
Fees for servicesLn 2g$2K
Investment incomeLn 3$2K
Total revenueLn 12$145K
Assets in detailPt X, end of year
CashLn 1$125K
SavingsLn 2$118K
Cash and savings togetherLn 1–2$242K
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$563K
LiabilitiesLn 26$32K
Net assetsLn 32$531K
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
Fiscal year endsHeaderDecember
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$159K$242K
Land, buildings, equipmentLn 10c$3K$2K
Total assetsLn 16$527K$563K
LiabilitiesLn 26$103K$32K
Net assetsLn 32$424K$531K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$28K$28K
Legal feesLn 11b$274$274
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$274$274
Office expensesLn 13$183$183
OccupancyLn 16$1K$1K
InterestLn 20$3K$3K
Depreciation, depletion and amortizationLn 22$494$494
InsuranceLn 23$350$350
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$38K$36K$2K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $57K$28K$29K$560K 990 PDF
FY2023 Viewing $145K$38K$107K$531K 990 PDF
FY2022 $79K$13K$65K$424K 990 PDF
FY2021 $68K$36K$32K$359K 990 PDF
FY2020 $133K$74K$59K$327K 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 $145,410 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $78,050$170,100
I-9 Program service revenue$1,675
I-10 Investment incomePrior year $511$1,749
I-11 Other revenuePrior year $140−$28,114
I-12 Total revenuePrior year $78,701$145,410
I-13 Grants and similar amounts paidPrior year $2,900$28,262
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $10,406$10,124
I-18 Total expensesPrior year $13,306$38,386
I-19 Revenue less expensesPrior year $65,395$107,024
Part VI · Governance 9 of 9 board members independent, 5 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
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
Part VIII · Statement of revenue $145,410 across 8 lines filed
Lines not itemized here account for −$28,289 of total revenue; see the IRS return.
VIII-1b Membership dues$52,100
VIII-1e Government grants$60,000
VIII-1f All other contributions, gifts and grants$58,000
VIII-1h Total contributions, gifts and grants$170,100
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,675$1,675
VIII-3 Investment incomeExcluded from tax $1,749$1,749
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $175$175
VIII-12 Total revenueRelated to mission −$26,439 · Excluded from tax $1,749$145,410
Part IX · Statement of functional expenses $38,386 across 10 lines filed
IX-1 Grants to domestic organizationsPrograms $28,262$28,262
IX-11b Legal feesPrograms $274$274
IX-11c Accounting feesManagement $2,450$2,450
IX-12 Advertising and promotionPrograms $274$274
IX-13 Office expensesPrograms $183$183
IX-16 OccupancyPrograms $1,484$1,484
IX-20 InterestPrograms $2,972$2,972
IX-22 Depreciation, depletion and amortizationPrograms $494$494
IX-23 InsurancePrograms $350$350
IX-24 Other expenses (24a–d)Programs $1,643$1,643
IX-25 Total functional expensesPrograms $35,936 · Management $2,450 · Fundraising $0$38,386
Part X · Balance sheet $563,451 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $57,350$124,611
X-2 Savings and temporary cash investmentsStart of year $101,180$117,869
X-8 Inventories for sale or useStart of year $365,606$318,756
X-10c Land, buildings and equipment, netStart of year $2,709$2,215
X-16 Total assetsStart of year $526,845$563,451
X-26 Total liabilitiesStart of year $102,617$32,199
X-32 Total net assets or fund balancesStart of year $424,228$531,252
X-33 Total liabilities and net assetsStart of year $526,845$563,451
Part XI · Reconciliation of net assets $531,252 net assets at year end
XI-1 Total revenue$145,410
XI-2 Total expenses$38,386
XI-3 Revenue less expenses$107,024
XI-4 Net assets at start of year$424,228
XI-10 Net assets at end of year$531,252

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

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