Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1995.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
86 cents of each dollar spent went to programs.
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
7 people listed on the 990; $3K paid to officers and key staff.
Todd Garry’s $500 as Director is at the 1st percentile of top reported officer pay among 1043 $100K–1M public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| G Todd Garry | — | — | — | $525 | $900 |
| Donald Kallenberger | $300 | $625 | $550 | $550 | $875 |
| R Craig Oberle | — | — | — | $450 | $775 |
| Doug Deboer | $200 | $150 | $650 | $550 | $750 |
| Scott Campbell | $200 | $525 | $550 | $250 | $675 |
| Todd Garry | $500 | $325 | $650 | — | — |
| Jason Jung | $500 | $525 | $650 | $300 | — |
| Ted Haeder | $500 | $625 | $300 | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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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
Provides loans and assistance to local businesses to create and retain jobs.
Questions for Necog Development Corporation
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To loan federal and state funds to local businesses and industry and to assist businesses in creating and retaining jobs for the region.
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.0M | $1.5M |
| InvestmentsLn 11–13 | $210K | $0 |
| Total assetsLn 16 | $5.8M | $6.2M |
| LiabilitiesLn 26 | $1.7M | $1.4M |
| Net assetsLn 32 | $4.1M | $4.7M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Pay of current officers, directors and key staffLn 5 | $3K | $3K | ||
| Management feesLn 11a | $78K | $78K | ||
| Legal feesLn 11b | $6K | $6K | ||
| Accounting feesLn 11c | $16K | $16K | ||
| Other fees for servicesLn 11g | $552 | $552 | ||
| Office expensesLn 13 | $12 | $12 | ||
| Information technologyLn 14 | $1K | $1K | ||
| TravelLn 17 | $2K | $1K | $728 | |
| InterestLn 20 | $16K | $16K | ||
| Other expenses (24a–d)Ln 24 | $258K | $226K | $32K | |
| All other expensesLn 24e | $369 | $67 | $302 | |
| Total functional expensesLn 25 | $380K | $328K | $53K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $665K | $111K | $554K | $5.8M | 990 PDF |
| FY2023 | $515K | $133K | $382K | $5.2M | 990 PDF |
| FY2022 | $373K | $234K | $139K | $4.9M | 990 PDF |
| FY2021 Viewing | $1.0M | $380K | $630K | $4.7M | 990 PDF |
| FY2020 | $1.8M | $238K | $1.6M | $4.1M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (6 parts)
Part I · Summary $1,010,155 revenue, 12 lines filed
Part VI · Governance 6 of 6 board members independent, 3 to look at
Part VIII · Statement of revenue $1,010,155 across 6 lines filed
Part IX · Statement of functional expenses $380,494 across 11 lines filed
Part X · Balance sheet $6,194,288 assets, 11 lines filed
Part XI · Reconciliation of net assets $4,745,741 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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