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Growth INC FY2022 filing

Not tax-deductible

Hutchinson, KS501(c)(6)EIN 48-1027889Revenue $1.2M in FY2022

On file with the IRS117 N Walnut St, 67501-7165 · Hutchinson, KSTax-exempt since Oct 1987

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Growth Inc.'s purpose is to promote the business economy and industrial development for the City of Hutchinson, Kansas and the surrounding area. It receives its funding from the City of Hutchinson. In 2022, Growth received a donation of $1,085,691 for the purchase of 500 acres of land with stipulations that the land is used for economic development within Reno County.

96¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
3 of 3
filings with a surplus
Average surplus $978K a year · 88% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
83 mo
of spending, in cash
Looks good: 82.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$993
0.07% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
Spent
$42K
To programs
96%
Net assets
$1.3M
By yearFY2022–FY2024
Revenue
$1.2M
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2022$1.2M
FY2023$273K
FY2024$1.9M
Expenses
$42K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2022$42K
FY2023$218K
FY2024$125K
Net assets
$1.3M
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2022$1.3M
FY2023$1.4M
FY2024$3.1M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

Form 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 Oct 1987.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $41K

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

17 people listed on the 990.

Part VII, Section A · reportable compensation
Stephanie Trump
Past Chair
$0Pt VII · Sec A
Joe Ontjes
Chair Elect
$0Pt VII · Sec A
Michele Pitts
Treasurer
$0Pt VII · Sec A
Niki Harvey
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Coby Cost
Director
$0Pt VII · Sec A
Kevin Rule
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Growth INC 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

Promotes business and industrial growth for Hutchinson and surrounding areas.

Questions for Growth INC

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Provided by the organization

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1 program · $19K · in their own filed words · FY2022
01

Purchase land for Industrial Park. Received donation on 1,085,691 to purchase 500 acres for Economic Development

$19Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.2M
Ln 12
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$77K
Money outPt IX
$42K
Ln 25
Programscol B$41K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$290K
Total assetsLn 16$1.3M
LiabilitiesLn 26$993
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1M
Government grantsLn 1e$20K
Investment incomeLn 3$77K
Gains on assetsLn 7$73K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$290K
Cash and savings togetherLn 1–2$290K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$1.3M
LiabilitiesLn 26$993
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
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$290K
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$0$1.3M
LiabilitiesLn 26$0$993
Net assetsLn 32$0$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$5K
Accounting feesLn 11c$375
Other fees for servicesLn 11g$31K
Office expensesLn 13$73
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$2K
Total functional expensesLn 25$42K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.9M$125K$1.7M$3.1M 990 PDF
FY2023 $273K$218K$55K$1.4M 990 PDF
FY2022 Viewing $1.2M$42K$1.1M$1.3M 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 $1,182,929 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $20,000$1,105,691
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $108$77,238
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $20,108$1,182,929
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $13,684$42,105
I-18 Total expensesPrior year $13,684$42,105
I-19 Revenue less expensesPrior year $6,424$1,140,824
Part VI · Governance 17 of 17 board members independent, 4 to look at
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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 $1,182,929 across 6 lines filed
VIII-1e Government grants$20,000
VIII-1f All other contributions, gifts and grants$1,085,691
VIII-1h Total contributions, gifts and grants$1,105,691
VIII-3 Investment incomeRelated to mission $4,728$4,728
VIII-7 Net gain or loss on sales of assetsRelated to mission $72,510$72,510
VIII-12 Total revenueRelated to mission $77,238 · Unrelated business $0 · Excluded from tax $0$1,182,929
Part IX · Statement of functional expenses $42,105 across 7 lines filed
IX-11b Legal fees$5,388
IX-11c Accounting fees$375
IX-11g Other fees for services$31,185
IX-13 Office expenses$73
IX-22 Depreciation, depletion and amortization$1,522
IX-23 Insurance$2,000
IX-24 Other expenses (24a–d)$1,562
IX-25 Total functional expenses$42,105
Part X · Balance sheet $1,342,068 assets, 7 lines filed
X-1 Cash, non-interest-bearing$290,091
X-10c Land, buildings and equipment, net$1,051,977
X-16 Total assetsStart of year $0$1,342,068
X-17 Accounts payable and accrued expenses$993
X-26 Total liabilitiesStart of year $0$993
X-32 Total net assets or fund balancesStart of year $0$1,341,075
X-33 Total liabilities and net assetsStart of year $0$1,342,068
Part XI · Reconciliation of net assets $1,341,075 net assets at year end
XI-1 Total revenue$1,182,929
XI-2 Total expenses$42,105
XI-3 Revenue less expenses$1,140,824
XI-4 Net assets at start of year$0
XI-8 Prior period adjustments$200,251
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,341,075

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

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