Centerville Development Corporation: Nonprofit Profile, Financials & Form 990 (EIN 46-0315601)

Revenue by fiscal year
FY2020	$162K
FY2021	$182K
FY2022	$131K
FY2023	$210K
FY2024	$755K

Expenses by fiscal year
FY2020	$94K
FY2021	$104K
FY2022	$186K
FY2023	$186K
FY2024	$189K

Net assets by fiscal year
FY2020	$5.6M
FY2021	$6.0M
FY2022	$5.3M
FY2023	$5.6M
FY2024	$6.4M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2011.

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

Where the money goes

83 cents of each dollar spent went to programs.

83%

17%

Program services 83% · $157K Management & general 17% · $33K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation

Adam Carlson

Director

$0Pt VII · Sec A

Laura Hybertson

Treasurer

$0Pt VII · Sec A

Jen Knudson

Secretary

$0Pt VII · Sec A

Jackie Krebs

Director

$0Pt VII · Sec A

Sarah Morphew

Director

$0Pt VII · Sec A

Brad Preheim

President

$0Pt VII · Sec A

Brandon Reif

Vice Preside

$0Pt VII · Sec A

Todd Rist

Director

$0Pt VII · Sec A

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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

Fosters business growth, improves affordable housing, and develops community leaders.

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1 program · $157K · in their own filed words · FY2024

01

Operation of economic development in the city of centerville

$157Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record

Grants received · FY2024

Edward Jones FoundationFY2024$400

Total grants receivedfrom 1 funder$400

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$755K

Ln 12

Gifts and grantsLn 1h$498K

Investment incomeLn 3$180K

Other incomeLn 4–11$61K

Money outPt IX

$189K

Ln 25

Programscol B$157K

Managementcol C$33K

Owns and owesPt X

$6.4M

net assets · Ln 32

Cash and savingsLn 1–2$5.3M

Total assetsLn 16$8.0M

LiabilitiesLn 26$1.6M

PeoplePt VI, VII

8

listed · VII A

PaidVII A0

Voting boardVI 1a8

IndependentVI 1b7

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$498K

Fees for servicesLn 2g$16K

Investment incomeLn 3$180K

Other incomeLn 4–11$61K

Total revenueLn 12$755K

Assets in detailPt X, end of year

CashLn 1$406K

SavingsLn 2$4.9M

Cash and savings togetherLn 1–2$5.3M

Land, buildings, equipmentLn 10c$155K

Other assetsLn 15$1K

Total assetsLn 16$8.0M

LiabilitiesLn 26$1.6M

Net assetsLn 32$6.4M

OperationsPt I, VI

EmployeesI 50

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$5.0M	$5.3M
Land, buildings, equipmentLn 10c		$155K
Total assetsLn 16	$7.3M	$8.0M
LiabilitiesLn 26	$1.6M	$1.6M
Net assetsLn 32	$5.6M	$6.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Legal feesLn 11b	$11K	$11K
Investment management feesLn 11f	$16K		$16K
Advertising and promotionLn 12	$4K	$4K
Office expensesLn 13	$4K	$68	$4K
Conferences, conventions and meetingsLn 19	$3K	$3K
InterestLn 20	$56K	$56K
Depreciation, depletion and amortizationLn 22	$13K	$13K
InsuranceLn 23	$13K		$13K
Other expenses (24a–d)Ln 24	$70K	$70K
Total functional expensesLn 25	$189K	$157K	$33K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest Viewing	$755K	$189K	$565K	$6.4M	990 PDF
FY2023	$210K	$186K	$24K	$5.6M	990 PDF
FY2022	$131K	$186K	−$55K	$5.3M	990 PDF
FY2021	$182K	$104K	$78K	$6.0M	990 PDF
FY2020	$162K	$94K	$68K	$5.6M	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 FY2024 990 (6 parts)

Part I · Summary $754,535 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $14,279$497,666

I-9 Program service revenuePrior year $26,269$16,118

I-10 Investment incomePrior year $169,559$180,189

I-11 Other revenue$60,562

I-12 Total revenuePrior year $210,107$754,535

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 $186,364$189,437

I-18 Total expensesPrior year $186,364$189,437

I-19 Revenue less expensesPrior year $23,743$565,098

Part VI · Governance 7 of 8 board members independent, 5 to look at

VI-1a Voting members of the governing body8

VI-1b Independent voting members7

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 $754,535 across 6 lines filed

Lines not itemized here account for $52,870 of total revenue; see the IRS return.

VIII-1f All other contributions, gifts and grants$497,666

VIII-1h Total contributions, gifts and grants$497,666

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $16,118$16,118

VIII-3 Investment incomeExcluded from tax $180,189$180,189

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $7,692$7,692

VIII-12 Total revenueRelated to mission $76,680 · Excluded from tax $180,189$754,535

Part IX · Statement of functional expenses $189,437 across 9 lines filed

IX-11b Legal feesPrograms $10,525$10,525

IX-11f Investment management feesManagement $15,895$15,895

IX-12 Advertising and promotionPrograms $3,889$3,889

IX-13 Office expensesPrograms $68 · Management $4,001$4,069

IX-19 Conferences, conventions and meetingsPrograms $3,452$3,452

IX-20 InterestPrograms $55,708$55,708

IX-22 Depreciation, depletion and amortizationPrograms $13,157$13,157

IX-23 InsuranceManagement $12,809$12,809

IX-24 Other expenses (24a–d)Programs $69,933$69,933

IX-25 Total functional expensesPrograms $156,732 · Management $32,705 · Fundraising $0$189,437

Part X · Balance sheet $8,043,535 assets, 12 lines filed

Asset lines not itemized here account for $95,957; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $856,970$405,598

X-2 Savings and temporary cash investmentsStart of year $4,132,750$4,907,827

X-8 Inventories for sale or useStart of year $2,139,286$2,477,699

X-10c Land, buildings and equipment, net$155,234

X-15 Other assetsStart of year $149,668$1,220

X-16 Total assetsStart of year $7,278,674$8,043,535

X-24 Unsecured notes and loans payableStart of year $12,000$12,000

X-26 Total liabilitiesStart of year $1,632,717$1,614,810

X-27 Net assets without donor restrictionsStart of year $5,645,957$6,359,608

X-28 Net assets with donor restrictions$69,117

X-32 Total net assets or fund balancesStart of year $5,645,957$6,428,725

X-33 Total liabilities and net assetsStart of year $7,278,674$8,043,535

Part XI · Reconciliation of net assets $6,428,725 net assets at year end

XI-1 Total revenue$754,535

XI-2 Total expenses$189,437

XI-3 Revenue less expenses$565,098

XI-4 Net assets at start of year$5,645,957

XI-5 Net unrealized gains (losses) on investments$225,072

XI-9 Other changes in net assets−$7,402

XI-10 Net assets at end of year$6,428,725

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

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Centerville Development Corporation

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Centerville Development Corporation

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV