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Monett Industrial Development Corp FY2022 filing

Not tax-deductible

Monett, MO501(c)(6)Community Development EIN 43-0818485Revenue $2K in FY2022

On file with the IRS23177 Lawrence 1090, 65708-6102 · Monett, MOTax-exempt since Oct 2017

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Industrial Development and increasing the availability of employment for the citizens of the city of Monett, missouri and the surrounding area.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2022 · 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
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
5 of 5
filings with a surplus
Average surplus $20K a year · 97% 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
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
4248 mo
of spending, in cash
Looks good: 4248.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2K
-57% vs prior year
Spent
$816
To programs
0%
Net assets
$452K
By yearFY2021–FY2025
Revenue
$2K
FY2022▼ -57%
Tap a bar for its year
Revenue by fiscal year
FY2021$5K
FY2022$2K
FY2023$4K
FY2024$18K
FY2025$76K
Expenses
$816
FY2022▲ +95%
Tap a bar for its year
Expenses by fiscal year
FY2021$418
FY2022$816
FY2023$468
FY2024$513
FY2025$627
Net assets
$452K
FY2022+0.3%
Tap a bar for its year
Net assets by fiscal year
FY2021$451K
FY2022$452K
FY2023$456K
FY2024$474K
FY2025$549K

From the FY2022 Form 990 (year ending May 2022) · see the original

990 PDF Claim
You’re viewing the FY2022 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 Oct 2017.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $816

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Garrett
Secretary
$0Pt VII · Sec A
Rex Kay
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Monett Industrial Development Corp 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

Boosts local industry and jobs for Monett and surrounding communities.

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1 program · in their own filed words · FY2021
01

First industrial expansion is now in the process of being developed in a new industrial park in monett, mo.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2K
Ln 12
Investment incomeLn 3$2K
Money outPt IX
$816
Ln 25
Managementcol C$816
Owns and owesPt X
$452K
net assets · Ln 32
Cash and savingsLn 1–2$289K
Total assetsLn 16$455K
LiabilitiesLn 26$3K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$2K
Total revenueLn 12$2K
Assets in detailPt X, end of year
CashLn 1$28K
SavingsLn 2$261K
Cash and savings togetherLn 1–2$289K
InvestmentsLn 11–13$20K
Land, buildings, equipmentLn 10c$138K
Total assetsLn 16$455K
LiabilitiesLn 26$3K
Net assetsLn 32$452K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderMay
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 FY22End FY22
Cash and savingsLn 1–2$296K$289K
InvestmentsLn 11–13$20K$20K
Land, buildings, equipmentLn 10c$138K$138K
Total assetsLn 16$454K$455K
LiabilitiesLn 26$3K$3K
Net assetsLn 32$451K$452K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$416$416
Other fees for servicesLn 11g$400$400
Total functional expensesLn 25$816$0$816$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $76K$627$75K$549K 990 PDF
FY2024 $18K$513$18K$474K 990 PDF
FY2023 $4K$468$3K$456K 990 PDF
FY2022 Viewing $2K$816$1K$452K 990 PDF
FY2021 $5K$418$4K$451K 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 FY2022 990 (6 parts)
Part I · Summary $2,041 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenue$0
I-10 Investment incomePrior year $4,758$2,041
I-11 Other revenue$0
I-12 Total revenuePrior year $4,758$2,041
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $418$816
I-18 Total expensesPrior year $418$816
I-19 Revenue less expensesPrior year $4,340$1,225
Part VI · Governance 0 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
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 $2,041 across 2 lines filed
VIII-3 Investment incomeRelated to mission $2,041$2,041
VIII-12 Total revenueRelated to mission $2,041$2,041
Part IX · Statement of functional expenses $816 across 2 lines filed
IX-11c Accounting feesManagement $416$416
IX-11g Other fees for servicesManagement $400$400
IX-25 Total functional expensesPrograms $0 · Management $816 · Fundraising $0$816
Part X · Balance sheet $455,220 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $37,448$27,974
X-2 Savings and temporary cash investmentsStart of year $258,959$260,908
X-9 Prepaid expenses and deferred charges$8,750
X-10c Land, buildings and equipment, netStart of year $137,588$137,588
X-12 Other securitiesStart of year $20,000$20,000
X-16 Total assetsStart of year $453,995$455,220
X-17 Accounts payable and accrued expensesStart of year $156$156
X-24 Unsecured notes and loans payableStart of year $2,763$2,763
X-26 Total liabilitiesStart of year $2,919$2,919
X-32 Total net assets or fund balancesStart of year $451,076$452,301
X-33 Total liabilities and net assetsStart of year $453,995$455,220
Part XI · Reconciliation of net assets $452,301 net assets at year end
XI-1 Total revenue$2,041
XI-2 Total expenses$816
XI-3 Revenue less expenses$1,225
XI-4 Net assets at start of year$451,076
XI-10 Net assets at end of year$452,301

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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