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Leader Valley Foundation FY2023 filing

Tax-deductible

Cedar Falls, IA501(c)(3)Community Development EIN 45-3120883Revenue $610K in FY2023

On file with the IRSleadervalley.org6711 Chancellor Dr Unit 2, 50613-7066 · Cedar Falls, IATax-exempt since May 2012Publicly supported charity — 170(b)(1)(A)(vi)

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Lead a business-education partnership to develop the leadership skills of cedar Valley students.

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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 $139K a year · 19% 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
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
13 mo
of spending, in cash
Looks good: 13.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $256K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$378K
55% of total assets
Fine: liabilities are 55% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$610K
-10% vs prior year
Spent
$567K
To programs
68%
Net assets
$312K
By yearFY2021–FY2025
Revenue
$610K
FY2023▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2021$463K
FY2022$676K
FY2023$610K
FY2024$754K
FY2025$1.1M
Expenses
$567K
FY2023▲ +32%
Tap a bar for its year
Expenses by fiscal year
FY2021$427K
FY2022$430K
FY2023$567K
FY2024$719K
FY2025$745K
Net assets
$312K
FY2023▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2021$24K
FY2022$270K
FY2023$312K
FY2024$347K
FY2025$688K

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 May 2012.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $388K Management & general 26% · $145K Fundraising 6% · $34K

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

25 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Carolyn Darrah
President/Ce
$0Pt VII · Sec A
Melissa Reade
Leader Valle
$0Pt VII · Sec A
$0Pt VII · Sec A
Bryan Earnest
Past Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Gina Weekley
At-Large
$0Pt VII · Sec A
$0Pt VII · Sec A
See Leader Valley Foundation 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

Connects businesses and schools to build leadership skills in local students.

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Provided by the organization

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1 program · $388K · in their own filed words · FY2022
01

The leader valley program helps fund area schools in having programs which are intended to reduce dropouts from school as well as gain skills necessary to be successful in school and in life.

$388Kprogram 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 · FY2024
Natl Christian Charitable Fdn INCFY2024$147K
The Hws Charitable Foundation INCFY2024$80K
Veridian Credit UnionFY2024$10K
Otto Schoitz FoundationFY2024$8K
Cedar Valley United WayFY2024$5K
Duroe Family FoundationFY2024$5K
Spahn & Rose Lumber Co Charitable FoundationFY2024$1K
Total grants receivedfrom 7 funders$256K
See all 7 funders →
Grants paid · 2 grants · $30K · 2023–2024
Unitemized GrantFY2024$20,000
Unitemized GrantFY2023$10,000

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$610K
Ln 12
Gifts and grantsLn 1h$534K
Fees for servicesLn 2g$75K
Investment incomeLn 3$465
Money outPt IX
$567K
Ln 25
Programscol B$388K
Managementcol C$145K
Fundraisingcol D$34K
Owns and owesPt X
$312K
net assets · Ln 32
Cash and savingsLn 1–2$632K
Total assetsLn 16$690K
LiabilitiesLn 26$378K
PeoplePt VI, VII
25
listed · VII A
PaidVII A0
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$534K
Government grantsLn 1e$40K
Fees for servicesLn 2g$75K
Investment incomeLn 3$465
Total revenueLn 12$610K
Assets in detailPt X, end of year
CashLn 1$579K
SavingsLn 2$52K
Cash and savings togetherLn 1–2$632K
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$690K
LiabilitiesLn 26$378K
Net assetsLn 32$312K
OperationsPt I, VI
EmployeesI 50
VolunteersI 650
Fiscal year endsHeaderJune
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$690K$632K
Land, buildings, equipmentLn 10c$3K$2K
Total assetsLn 16$836K$690K
LiabilitiesLn 26$566K$378K
Net assetsLn 32$270K$312K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$11K$11K
Professional fundraising feesLn 11e$34K$34K
Advertising and promotionLn 12$1K$1K
Information technologyLn 14$1K$1K
TravelLn 17$3K$3K
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$1K$1K
Other expenses (24a–d)Ln 24$506K$373K$133K
All other expensesLn 24e$5K$5K
Total functional expensesLn 25$567K$388K$145K$34K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.1M$745K$339K$688K 990 PDF
FY2024 $754K$719K$34K$347K 990 PDF
FY2023 Viewing $610K$567K$43K$312K 990 PDF
FY2022 $676K$430K$246K$270K 990 PDF
FY2021 $463K$427K$36K$24K 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 $609,521 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $647,224$534,351
I-9 Program service revenue$74,705
I-10 Investment incomePrior year $284$465
I-11 Other revenuePrior year $28,251$0
I-12 Total revenuePrior year $675,759$609,521
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 feesPrior year $33,933$33,901
I-17 Other expensesPrior year $395,730$533,007
I-18 Total expensesPrior year $429,663$566,908
I-19 Revenue less expensesPrior year $246,096$42,613
Part VI · Governance 23 of 23 board members independent, no flags
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
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 $609,521 across 7 lines filed
VIII-1a Federated campaigns$8,828
VIII-1e Government grants$39,608
VIII-1f All other contributions, gifts and grants$485,915
VIII-1h Total contributions, gifts and grants$534,351
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $74,705$74,705
VIII-3 Investment incomeExcluded from tax $465$465
VIII-12 Total revenueRelated to mission $74,705 · Excluded from tax $465$609,521
Part IX · Statement of functional expenses $566,908 across 9 lines filed
IX-11c Accounting feesManagement $11,330$11,330
IX-11e Professional fundraising feesFundraising $33,901$33,901
IX-12 Advertising and promotionPrograms $1,181$1,181
IX-14 Information technologyPrograms $1,175$1,175
IX-17 TravelPrograms $2,954$2,954
IX-20 InterestPrograms $4,180$4,180
IX-22 Depreciation, depletion and amortizationManagement $1,172$1,172
IX-24 Other expenses (24a–d)Programs $372,838 · Management $132,762$505,600
IX-24e All other expensesPrograms $5,415$5,415
IX-25 Total functional expensesPrograms $387,743 · Management $145,264 · Fundraising $33,901$566,908
Part X · Balance sheet $690,367 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $638,173$579,163
X-2 Savings and temporary cash investmentsStart of year $52,288$52,447
X-3 Pledges and grants receivableStart of year $138,900$57,000
X-10c Land, buildings and equipment, netStart of year $2,929$1,757
X-16 Total assetsStart of year $835,810$690,367
X-19 Deferred revenueStart of year $371,518$179,004
X-25 Other liabilitiesStart of year $194,454$198,912
X-26 Total liabilitiesStart of year $565,972$377,916
X-32 Total net assets or fund balancesStart of year $269,838$312,451
X-33 Total liabilities and net assetsStart of year $835,810$690,367
Part XI · Reconciliation of net assets $312,451 net assets at year end
XI-1 Total revenue$609,521
XI-2 Total expenses$566,908
XI-3 Revenue less expenses$42,613
XI-4 Net assets at start of year$269,838
XI-10 Net assets at end of year$312,451

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

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