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Norton Development Corporation FY2021 filing

Tax-deductible

Norton, KS501(c)(3)Community Development EIN 48-0930240Revenue $60K in FY2021

On file with the IRS205 S State St, 67654-2107 · Norton, KSTax-exempt since Feb 1995Publicly supported charity — 170(b)(1)(A)(vi)

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Community organization which facilitates in giving grant and loan money to businesses to help improve rural Development.

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

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FY2021 · 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
FY2022
latest Form 990
Worth a look: the latest return is for FY2022, 4 tax years back; more than 3 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 3
filings with a surplus
Average surplus $3K a year · 11% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
0.8%
of spending
Concern: 1% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
29 mo
of spending, in cash
Looks good: 29.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $12K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$96K
61% of total assets
Fine: liabilities are 61% of assets; 50% to 65%.
Pt X · Ln 26
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$60K
+350% vs prior year
Spent
$65K
To programs
0.8%
Net assets
$61K
By yearFY2020–FY2022
Revenue
$60K
FY2021▲ +350%
Tap a bar for its year
Revenue by fiscal year
FY2020$13K
FY2021$60K
FY2022$2K
Expenses
$65K
FY2021▲ ×26
Tap a bar for its year
Expenses by fiscal year
FY2020$2K
FY2021$65K
FY2022$233
Net assets
$61K
FY2021▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2020$65K
FY2021$61K
FY2022$62K

From the FY2021 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2022) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2022. IRS ruling in Feb 1995.

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

Where the money goes

1 cents of each dollar spent went to programs.

Program services 1% · $507

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
Gail Boller
Director
$0Pt VII · Sec A
Nancy Kent
Director
$0Pt VII · Sec A
Scout Sproul
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Norton Development Corporation 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 15aNo

Programs and updates

Provides grants and loans to businesses for rural development.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Line 4 provide grants and loan money to business to help improve rural development

Pt IX · col B

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 · FY2020
Greater Northwest Kansas Community FoundationFY2020$12K
Total grants receivedfrom 1 funder$12K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$60K
Ln 12
Gifts and grantsLn 1h$58K
Investment incomeLn 3$2K
Money outPt IX
$65K
Ln 25
Programscol B$507
Owns and owesPt X
$61K
net assets · Ln 32
Cash and savingsLn 1–2$157K
Total assetsLn 16$157K
LiabilitiesLn 26$96K
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a0
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$58K
Investment incomeLn 3$2K
Total revenueLn 12$60K
Assets in detailPt X, end of year
CashLn 1$157K
Cash and savings togetherLn 1–2$157K
Total assetsLn 16$157K
LiabilitiesLn 26$96K
Net assetsLn 32$61K
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 FY21End FY21
Cash and savingsLn 1–2$161K$157K
Total assetsLn 16$161K$157K
LiabilitiesLn 26$96K$96K
Net assetsLn 32$65K$61K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$64K$251
Accounting feesLn 11c$235$235
OccupancyLn 16$21$21
Total functional expensesLn 25$65K$507$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2022 Latest $2K$233$1K$62K 990 PDF
FY2021 Viewing $60K$65K−$4K$61K 990 PDF
FY2020 $13K$2K$11K$65K 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 FY2021 990 (6 parts)
Part I · Summary $60,319 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,500$58,366
I-9 Program service revenue$0
I-10 Investment incomePrior year $913$1,953
I-11 Other revenue$0
I-12 Total revenuePrior year $13,413$60,319
I-13 Grants and similar amounts paid$64,307
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,470$256
I-18 Total expensesPrior year $2,470$64,563
I-19 Revenue less expensesPrior year $10,943−$4,244
Part VI · Governance 4 to look at
VI-1a Voting members of the governing body0
VI-1b Independent voting members0
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $60,319 across 4 lines filed
VIII-1f All other contributions, gifts and grants$46,897
VIII-1h Total contributions, gifts and grants$58,366
VIII-3 Investment incomeRelated to mission $1,953$1,953
VIII-12 Total revenueRelated to mission $1,953$60,319
Part IX · Statement of functional expenses $64,563 across 3 lines filed
IX-2 Grants to domestic individualsPrograms $251$64,307
IX-11c Accounting feesPrograms $235$235
IX-16 OccupancyPrograms $21$21
IX-25 Total functional expensesPrograms $507 · Management $0 · Fundraising $0$64,563
Part X · Balance sheet $156,783 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $161,027$156,783
X-16 Total assetsStart of year $161,027$156,783
X-24 Unsecured notes and loans payableStart of year $95,879$95,879
X-26 Total liabilitiesStart of year $95,879$95,879
X-32 Total net assets or fund balancesStart of year $65,148$60,904
X-33 Total liabilities and net assetsStart of year $161,027$156,783
Part XI · Reconciliation of net assets $60,904 net assets at year end
XI-1 Total revenue$60,319
XI-2 Total expenses$64,563
XI-3 Revenue less expenses−$4,244
XI-4 Net assets at start of year$65,148
XI-10 Net assets at end of year$60,904

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

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