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Henry County Industrial Development Corporation

Not tax-deductible

Mt Pleasant, IA501(c)(6)EIN 42-6075845Revenue $13K in FY2024

On file with the IRSmountpleasantiowa.org124 S Main St, 52641-2105 · Mt Pleasant, IATax-exempt since Apr 1961

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To improve the quality of life for the residents of Henry County, iowa through economic growth.

Run by 12 volunteers.
Mission: Form 990 Part I, line 1 · 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
3 of 5
filings with a surplus
Average deficit $25K a year · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
2317 mo
of spending, in cash
Looks good: 2316.8 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
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$13K
+118% vs prior year
Spent
$2K
Net assets
$336K
By yearFY2020–FY2024
Revenue
$13K
FY2024▲ +118%
Tap a bar for its year
Revenue by fiscal year
FY2020$5K
FY2021−$111K
FY2022$587
FY2023$6K
FY2024$13K
Expenses
$2K
FY2024▼ -39%
Tap a bar for its year
Expenses by fiscal year
FY2020$2K
FY2021$28K
FY2022$2K
FY2023$3K
FY2024$2K
Net assets
$336K
FY2024▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$462K
FY2021$323K
FY2022$322K
FY2023$325K
FY2024$336K

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 Apr 1961.

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

Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Dan McCabe
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Robert Meyer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Henry County Industrial Development Corporation 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

Drives economic growth to improve quality of life for Henry County, Iowa residents.

Questions for Henry County Industrial Development Corporation

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Provided by the organization

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1 program · in their own filed words · FY2024
01

To improve the quality of life for the residents of henry county, iowa through economic growth. Hcidc, working through its affiliate, the mount pleasant area development commission, maintains programs in business attraction, business retention & expansion, entrepreneurial support, education, and community development.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $20K · 2021–2021
Union Block LLCFY2021$20,000

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$13K
Ln 12
Investment incomeLn 3$13K
Other incomeLn 4–11$32
Money outPt IX
$2K
Ln 25
Owns and owesPt X
$336K
net assets · Ln 32
Cash and savingsLn 1–2$336K
Total assetsLn 16$336K
LiabilitiesLn 26$0
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$13K
Other incomeLn 4–11$32
Total revenueLn 12$13K
Assets in detailPt X, end of year
CashLn 1$61K
SavingsLn 2$275K
Cash and savings togetherLn 1–2$336K
Total assetsLn 16$336K
LiabilitiesLn 26$0
Net assetsLn 32$336K
OperationsPt I, VI
EmployeesI 50
VolunteersI 612
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$325K$336K
Total assetsLn 16$325K$336K
LiabilitiesLn 26$0$0
Net assetsLn 32$325K$336K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$700
InsuranceLn 23$1K
Total functional expensesLn 25$2K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $13K$2K$11K$336K 990 PDF
FY2023 $6K$3K$3K$325K 990 PDF
FY2022 $587$2K−$1K$322K 990 PDF
FY2021 −$111K$28K−$139K$323K 990 PDF
FY2020 $5K$2K$3K$462K 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 FY2024 990 (6 parts)
Part I · Summary $12,873 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $5,908$12,841
I-11 Other revenuePrior year $10$32
I-12 Total revenuePrior year $5,918$12,873
I-13 Grants and similar amounts paidPrior year $0$0
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 $2,864$1,740
I-18 Total expensesPrior year $2,864$1,740
I-19 Revenue less expensesPrior year $3,054$11,133
Part VI · Governance 12 of 12 board members independent, 3 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $12,873 across 3 lines filed
VIII-3 Investment incomeExcluded from tax $12,841$12,841
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $32$32
VIII-12 Total revenueRelated to mission $32 · Unrelated business $0 · Excluded from tax $12,841$12,873
Part IX · Statement of functional expenses $1,740 across 2 lines filed
IX-11b Legal fees$700
IX-23 Insurance$1,040
IX-25 Total functional expenses$1,740
Part X · Balance sheet $335,929 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $49,796$60,929
X-2 Savings and temporary cash investmentsStart of year $275,000$275,000
X-16 Total assetsStart of year $324,796$335,929
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $324,796$335,929
X-32 Total net assets or fund balancesStart of year $324,796$335,929
X-33 Total liabilities and net assetsStart of year $324,796$335,929
Part XI · Reconciliation of net assets $335,929 net assets at year end
XI-1 Total revenue$12,873
XI-2 Total expenses$1,740
XI-3 Revenue less expenses$11,133
XI-4 Net assets at start of year$324,796
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$335,929

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

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