Finney County Economic Development Corp FY2024 filing

Not tax-deductible

Garden City, KS501(c)(6)EIN 48-1062596Revenue $674K in FY2024

On file with the IRSficoedc.com114 W Pine St, 67846-5444 · Garden City, KSTax-exempt since Mar 1990

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To develop and study programs for use in Economic Development in the southwest area of kansas.

92¢ of each $1 spent went to programs.
$172K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $42K a year · 7% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$172K
to officers and key staff · 25% of spending
Worth a look: pay to officers and key staff is 25% of spending; over 20%.
Pt VII · Sec A
Cash reserves
7 mo
of spending, in cash
Looks good: 7.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$8K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$674K
+4% vs prior year
Spent
$682K
To programs
92%
Net assets
$409K
By yearFY2020–FY2025
Revenue
$674K
FY2024▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$541K
FY2021$606K
FY2022$461K
FY2023$648K
FY2024$674K
FY2025$716K
Expenses
$682K
FY2024▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$425K
FY2021$463K
FY2022$536K
FY2023$592K
FY2024$682K
FY2025$700K
Net assets
$409K
FY2024▼ -2%
Tap a bar for its year
Net assets by fiscal year
FY2020$291K
FY2021$435K
FY2022$360K
FY2023$417K
FY2024$409K
FY2025$425K

From the FY2024 Form 990 · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1990.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $624K Management & general 8% · $58K

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

8 people listed on the 990; $172K paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$172,180Pt VII · Sec A
Vice-Chairman, Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Chairman, Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer, Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Lona Duvall$185,000$172,180$149,782$143,542$118,998$117,598
Shannon Dick$101,807—————

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

Develops and studies programs for economic development in Southwest Kansas.

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Provided by the organization

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3 programs · $624K · in their own filed words · FY2024
01

Compensation for promotion and development of economic development activities

$532Kprogram expense
02

Advertising and promotion of area, development of area image to promote.

$83Kprogram expense
03

E-community grant

$9Kprogram 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 · 1 grant · $10K · 2024–2024

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$674K
Ln 12
Gifts and grantsLn 1h$672K
Investment incomeLn 3$2K
Money outPt IX
$682K
Ln 25
Programscol B$624K
Managementcol C$58K
Owns and owesPt X
$409K
net assets · Ln 32
Cash and savingsLn 1–2$417K
Total assetsLn 16$417K
LiabilitiesLn 26$8K
PeoplePt VI, VII
8
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$672K
Government grantsLn 1e$662K
Investment incomeLn 3$2K
Total revenueLn 12$674K
Assets in detailPt X, end of year
CashLn 1$50
SavingsLn 2$417K
Cash and savings togetherLn 1–2$417K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$417K
LiabilitiesLn 26$8K
Net assetsLn 32$409K
OperationsPt I, VI
EmployeesI 53
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$421K$417K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$421K$417K
LiabilitiesLn 26$4K$8K
Net assetsLn 32$417K$409K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K$14K
Pay of current officers, directors and key staffLn 5$191K$191K
Pay of disqualified personsLn 6$284K$284K
Other employee benefitsLn 9$26K$26K
Payroll taxesLn 10$31K$31K
Accounting feesLn 11c$6K$6K
Advertising and promotionLn 12$49K$49K
Office expensesLn 13$23K$23K
OccupancyLn 16$25K$25K
TravelLn 17$5K$5K
Conferences, conventions and meetingsLn 19$8K$8K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$17K$17K$80
Total functional expensesLn 25$682K$624K$58K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $716K$700K$16K$425K 990 PDF
FY2024 Viewing $674K$682K−$8K$409K 990 PDF
FY2023 $648K$592K$57K$417K 990 PDF
FY2022 $461K$536K−$74K$360K 990 PDF
FY2021 $606K$463K$143K$435K 990 PDF
FY2020 $541K$425K$116K$291K 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 FY2024 990 (6 parts)
Part I · Summary $673,879 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $646,744$672,000
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $1,734$1,879
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $648,478$673,879
I-13 Grants and similar amounts paidPrior year $3,216$13,568
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $463,975$531,912
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $124,447$136,321
I-18 Total expensesPrior year $591,638$681,801
I-19 Revenue less expensesPrior year $56,840−$7,922
Part VI · Governance 7 of 7 board members independent, 3 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $673,879 across 5 lines filed
VIII-1e Government grants$662,000
VIII-1f All other contributions, gifts and grants$10,000
VIII-1h Total contributions, gifts and grants$672,000
VIII-3 Investment incomeExcluded from tax $1,879$1,879
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,879$673,879
Part IX · Statement of functional expenses $681,801 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $13,568$13,568
IX-5 Pay of current officers, directors and key staffPrograms $191,436$191,436
IX-6 Pay of disqualified personsPrograms $283,520$283,520
IX-9 Other employee benefitsPrograms $26,314$26,314
IX-10 Payroll taxesPrograms $30,642$30,642
IX-11c Accounting feesManagement $6,259$6,259
IX-12 Advertising and promotionPrograms $48,733$48,733
IX-13 Office expensesManagement $23,299$23,299
IX-16 OccupancyManagement $25,473$25,473
IX-17 TravelPrograms $5,202$5,202
IX-19 Conferences, conventions and meetingsPrograms $7,785$7,785
IX-23 InsuranceManagement $2,451$2,451
IX-24 Other expenses (24a–d)Programs $17,039 · Management $80$17,119
IX-25 Total functional expensesPrograms $624,239 · Management $57,562 · Fundraising $0$681,801
Part X · Balance sheet $416,846 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $8,697$50
X-2 Savings and temporary cash investmentsStart of year $412,342$416,796
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $421,039$416,846
X-25 Other liabilitiesStart of year $3,888$7,617
X-26 Total liabilitiesStart of year $3,888$7,617
X-32 Total net assets or fund balancesStart of year $417,151$409,229
X-33 Total liabilities and net assetsStart of year $421,039$416,846
Part XI · Reconciliation of net assets $409,229 net assets at year end
XI-1 Total revenue$673,879
XI-2 Total expenses$681,801
XI-3 Revenue less expenses−$7,922
XI-4 Net assets at start of year$417,151
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$409,229

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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