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Waverly-Shell Rock Educational Fund FY2022 filing

Tax-deductible

Waverly, IA501(c)(3)EducationEIN 46-2385902Revenue $121K in FY2022

On file with the IRS1415 4th Ave Sw, 50677-2821 · Waverly, IATax-exempt since Jan 2014Publicly supported charity — 170(b)(1)(A)(vi)

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To encourage and promote the improvement of the quality of education of all kinds, including athletics, in the Waverly-Shell Rock community school district by providing a mechanism through which additional resources can be obtained through private contributions and grants of all kinds, where appropriate for such an organization, for allocation to worthwhile Educational programs and facilities.

501(c)(3) charity; gifts are tax-deductible.
93¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
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
5 of 5
filings with a surplus
Average surplus $60K a year · 38% 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
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 10.2 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
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$121K
+7% vs prior year
Spent
$119K
To programs
93%
Net assets
$495K
By yearFY2020–FY2024
Revenue
$121K
FY2022▲ +7%
Tap a bar for its year
Revenue by fiscal year
FY2020$156K
FY2021$112K
FY2022$121K
FY2023$278K
FY2024$128K
Expenses
$119K
FY2022▲ +42%
Tap a bar for its year
Expenses by fiscal year
FY2020$78K
FY2021$84K
FY2022$119K
FY2023$108K
FY2024$103K
Net assets
$495K
FY2022+0.3%
Tap a bar for its year
Net assets by fiscal year
FY2020$466K
FY2021$494K
FY2022$495K
FY2023$665K
FY2024$690K

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 2014.

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

Where the money goes

93 cents of each dollar spent went to programs.

Program services 93% · $111K Management & general 7% · $8K

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

14 people listed on the 990.

Part VII, Section A · reportable compensation
Jay Boeding
President
$0Pt VII · Sec A
Mark Platte
Vice Preside
$0Pt VII · Sec A
Chris Foy
Treasurer
$0Pt VII · Sec A
Jessi Fasse
Director
$0Pt VII · Sec A
Heidi Abben
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Jennifer Nus
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Waverly-Shell Rock Educational Fund 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

Programs and updates

Supports better education and athletics in Waverly-Shell Rock schools with private donations and grants.

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Provided by the organization

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1 program · $111K · in their own filed words · FY2022
01

Provided scholarships to district students who have demonstrated good citizenship, community involvement, and academic achievement throughout their school careers and are seeking higher education.

$111Kprogram expense

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 · 5 grants · $352K · 2020–2024
Unitemized GrantFY2024$75,402
Unitemized GrantFY2023$69,914
Unitemized GrantFY2022$78,714
Unitemized GrantFY2021$63,365
Unitemized GrantFY2020$64,630

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$121K
Ln 12
Gifts and grantsLn 1h$112K
Investment incomeLn 3$8K
Money outPt IX
$119K
Ln 25
Programscol B$111K
Managementcol C$8K
Owns and owesPt X
$495K
net assets · Ln 32
Cash and savingsLn 1–2$102K
Total assetsLn 16$495K
LiabilitiesLn 26$0
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$112K
Investment incomeLn 3$8K
Gains on assetsLn 7−$2K
Total revenueLn 12$121K
Assets in detailPt X, end of year
CashLn 1$29K
SavingsLn 2$73K
Cash and savings togetherLn 1–2$102K
InvestmentsLn 11–13$394K
Total assetsLn 16$495K
LiabilitiesLn 26$0
Net assetsLn 32$495K
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
LineStart FY22End FY22
Cash and savingsLn 1–2$99K$102K
InvestmentsLn 11–13$395K$394K
Total assetsLn 16$494K$495K
LiabilitiesLn 26$0$0
Net assetsLn 32$494K$495K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$79K$79K
Management feesLn 11a$21K$21K
Legal feesLn 11b$8K$8K
Other expenses (24a–d)Ln 24$11K$11K
Total functional expensesLn 25$119K$111K$8K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $128K$103K$25K$690K 990 PDF
FY2023 $278K$108K$169K$665K 990 PDF
FY2022 Viewing $121K$119K$1K$495K 990 PDF
FY2021 $112K$84K$28K$494K 990 PDF
FY2020 $156K$78K$77K$466K 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 FY2022 990 (6 parts)
Part I · Summary $120,654 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $103,573$112,195
I-9 Program service revenue$0
I-10 Investment incomePrior year $8,706$8,459
I-11 Other revenue$0
I-12 Total revenuePrior year $112,279$120,654
I-13 Grants and similar amounts paidPrior year $63,365$78,714
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $20,544$40,556
I-18 Total expensesPrior year $83,909$119,270
I-19 Revenue less expensesPrior year $28,370$1,384
Part VI · Governance 14 of 14 board members independent, 3 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $120,654 across 5 lines filed
VIII-1f All other contributions, gifts and grants$112,195
VIII-1h Total contributions, gifts and grants$112,195
VIII-3 Investment incomeExcluded from tax $10,603$10,603
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$2,144−$2,144
VIII-12 Total revenueExcluded from tax $8,459$120,654
Part IX · Statement of functional expenses $119,270 across 4 lines filed
IX-2 Grants to domestic individualsPrograms $78,714$78,714
IX-11a Management feesPrograms $21,240$21,240
IX-11b Legal feesManagement $7,850$7,850
IX-24 Other expenses (24a–d)Programs $11,466$11,466
IX-25 Total functional expensesPrograms $111,420 · Management $7,850 · Fundraising $0$119,270
Part X · Balance sheet $495,436 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $25,498$28,536
X-2 Savings and temporary cash investmentsStart of year $73,678$73,079
X-11 Publicly traded securitiesStart of year $394,876$393,821
X-16 Total assetsStart of year $494,052$495,436
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $494,052$495,436
X-32 Total net assets or fund balancesStart of year $494,052$495,436
X-33 Total liabilities and net assetsStart of year $494,052$495,436
Part XI · Reconciliation of net assets $495,436 net assets at year end
XI-1 Total revenue$120,654
XI-2 Total expenses$119,270
XI-3 Revenue less expenses$1,384
XI-4 Net assets at start of year$494,052
XI-10 Net assets at end of year$495,436

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

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