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Dawson County Area Economic Develop

IRS exemption revoked

Lexington, NEUnknown exempt organization EIN 47-0726051Revenue $325K in FY2021Latest return filed Sep 30, 2022

On file with the IRSLexington, NE

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Business recruitment and business retention for Dawson County nebraska

66¢ of each $1 spent went to programs.
Run by 10 volunteers and 4 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $52K a year · 16% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
66%
of spending
Fine: 66% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$232K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$325K
-12% vs prior year
Spent
$334K
To programs
66%
Net assets
$772K
By yearFY2019–FY2021
Revenue
$325K
FY2021▼ -12%
Tap a bar for its year
Revenue by fiscal year
FY2019$308K
FY2020$370K
FY2021$325K
Expenses
$334K
FY2021▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2019$221K
FY2020$291K
FY2021$334K
Net assets
$772K
FY2021▼ -1%
Tap a bar for its year
Net assets by fiscal year
FY2019$939K
FY2020$781K
FY2021$772K

From the FY2021 Form 990 (year ending July 2021) · see the original

990 PDF Claim
IRS revoked this organization's tax-exempt status on December 15, 2024

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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

Where the money goes

66 cents of each dollar spent went to programs.

Program services 66% · $221K Management & general 34% · $113K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? Claim to add context

Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Gary Greer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John Fagot
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Bacon
Chairman
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2020FY2019
Andrea McClintic$72,557$72,557

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.

See Dawson County Area Economic Develop executive salaries →

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

Attracts and keeps businesses in Dawson County, Nebraska.

Questions for Dawson County Area Economic Develop

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Your first name shows with your question. Dawson County Area Economic Develop answers here, for everyone.

1 program · $221K · in their own filed words · FY2020
01

Develop recruitment prospects for EXPANSION/RELOCATION to dawson county, nebraska and to work with local businesses and industry to identify new opportunities and solve problems facing those businesses and industries.

$221Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$325K
Ln 12
Gifts and grantsLn 1h$168K
Fees for servicesLn 2g$156K
Investment incomeLn 3$2K
Money outPt IX
$334K
Ln 25
Programscol B$221K
Managementcol C$113K
Owns and owesPt X
$772K
net assets · Ln 32
Cash and savingsLn 1–2$185K
Total assetsLn 16$1.0M
LiabilitiesLn 26$232K
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$168K
Government grantsLn 1e$168K
Fees for servicesLn 2g$156K
Investment incomeLn 3$2K
Total revenueLn 12$325K
Assets in detailPt X, end of year
CashLn 1$54K
SavingsLn 2$131K
Cash and savings togetherLn 1–2$185K
Notes and loans receivableLn 7$2K
Land, buildings, equipmentLn 10c$816K
Total assetsLn 16$1.0M
LiabilitiesLn 26$232K
Net assetsLn 32$772K
OperationsPt I, VI
EmployeesI 54
VolunteersI 610
Fiscal year endsHeaderJuly
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 FY21End FY21
Cash and savingsLn 1–2$208K$185K
Land, buildings, equipmentLn 10c$840K$816K
Total assetsLn 16$1.1M$1.0M
LiabilitiesLn 26$280K$232K
Net assetsLn 32$781K$772K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$76K$61K$15K
Other salaries and wagesLn 7$85K$85K
Other employee benefitsLn 9$23K$19K$5K
Payroll taxesLn 10$17K$13K$3K
Accounting feesLn 11c$4K$4K
Office expensesLn 13$6K$5K$1K
OccupancyLn 16$12K$4K$8K
Conferences, conventions and meetingsLn 19$6K$6K
Depreciation, depletion and amortizationLn 22$32K$32K
InsuranceLn 23$4K$1K$2K
Other expenses (24a–d)Ln 24$69K$23K$46K
Total functional expensesLn 25$334K$221K$113K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest ViewingFiled with the IRS Sep 30, 2022 $325K$334K−$9K$772K 990 PDF
FY2020Filed with the IRS Jun 16, 2021 $370K$291K$78K$781K 990 PDF
FY2019Filed with the IRS Mar 16, 2021 $308K$221K$87K$939K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $324,863 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $173,750$167,591
I-9 Program service revenuePrior year $194,468$155,599
I-10 Investment incomePrior year $1,382$1,673
I-11 Other revenue$0
I-12 Total revenuePrior year $369,600$324,863
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $174,868$201,046
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $116,623$132,976
I-18 Total expensesPrior year $291,491$334,022
I-19 Revenue less expensesPrior year $78,109−$9,159
Part VI · Governance 10 of 10 board members independent, 3 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $324,863 across 5 lines filed
VIII-1e Government grants$167,591
VIII-1h Total contributions, gifts and grants$167,591
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $155,599$155,599
VIII-3 Investment incomeRelated to mission $1,673$1,673
VIII-12 Total revenueRelated to mission $157,272 · Unrelated business $0 · Excluded from tax $0$324,863
Part IX · Statement of functional expenses $334,022 across 11 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $60,800 · Management $15,200$76,000
IX-7 Other salaries and wagesPrograms $84,900$84,900
IX-9 Other employee benefitsPrograms $18,785 · Management $4,696$23,481
IX-10 Payroll taxesPrograms $13,332 · Management $3,333$16,665
IX-11c Accounting feesPrograms $4,375$4,375
IX-13 Office expensesPrograms $5,278 · Management $1,202$6,480
IX-16 OccupancyPrograms $3,542 · Management $8,265$11,807
IX-19 Conferences, conventions and meetingsPrograms $5,788$5,788
IX-22 Depreciation, depletion and amortizationManagement $31,558$31,558
IX-23 InsurancePrograms $1,442 · Management $2,122$3,564
IX-24 Other expenses (24a–d)Programs $23,058 · Management $46,346$69,404
IX-25 Total functional expensesPrograms $221,300 · Management $112,722 · Fundraising $0$334,022
Part X · Balance sheet $1,003,593 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $61,717$54,374
X-2 Savings and temporary cash investmentsStart of year $146,627$131,030
X-7 Notes and loans receivableStart of year $13,108$2,082
X-10c Land, buildings and equipment, netStart of year $840,067$816,107
X-16 Total assetsStart of year $1,061,571$1,003,593
X-17 Accounts payable and accrued expensesStart of year $6,236$25,617
X-23 Secured mortgages and notes payableStart of year $274,200$206,000
X-26 Total liabilitiesStart of year $280,436$231,617
X-27 Net assets without donor restrictionsStart of year $781,135$771,976
X-32 Total net assets or fund balancesStart of year $781,135$771,976
X-33 Total liabilities and net assetsStart of year $1,061,571$1,003,593
Part XI · Reconciliation of net assets $771,976 net assets at year end
XI-1 Total revenue$324,863
XI-2 Total expenses$334,022
XI-3 Revenue less expenses−$9,159
XI-4 Net assets at start of year$781,135
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$771,976

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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