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Independence County Economic Development Foundations INC FY2024 filing

Tax-deductible

Batesville, AR501(c)(3)EIN 71-0637199Revenue $265K in FY2024

On file with the IRS409 Vine St, 72501-6969 · Batesville, ARTax-exempt since Apr 1987Supporting organization — 509(a)(3)

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The foundation's purpose is to focus on education, placemaking, healthy living, well-being, and Economic prosperity for the citizens of Independence County.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
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
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 5.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $15K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$265K
×14 vs prior year
Spent
$226K
To programs
100%
Net assets
$102K
By yearFY2020–FY2025
Revenue
$265K
FY2024▲ ×14
Tap a bar for its year
Revenue by fiscal year
FY2020$1K
FY2022$128K
FY2023$19K
FY2024$265K
FY2025$180K
Net assets
$102K
FY2024▲ +65%
Tap a bar for its year
Net assets by fiscal year
FY2020$42K
FY2022$75K
FY2023$61K
FY2024$102K
FY2025$101K

From the FY2024 Form 990 · see the original

Form 990 (PDF) Claim
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 Apr 1987.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $225K Management & general 0% · $585

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mitzihargan
Director
$0Pt VII · Sec A
Brian Shonk
Director
$0Pt VII · Sec A
Liz Spahn
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Independence County Economic Development Foundations 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

Improves education, community spaces, healthy living, well-being, and economic prosperity for Independence County citizens.

Questions for Independence County Economic Development Foundations INC

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Provided by the organization

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1 program · $225K · in their own filed words · FY2024
01

The foundation's purpose is to focus on education, placemaking, healthy living, well-being, and economic prosperity for the citizens of independence county.

$225Kprogram expense

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 · FY2023
National League of Cities Institute INCFY2023$15K
Total grants receivedfrom 1 funder$15K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$265K
Ln 12
Gifts and grantsLn 1h$265K
Money outPt IX
$226K
Ln 25
Programscol B$225K
Managementcol C$585
Owns and owesPt X
$102K
net assets · Ln 32
Cash and savingsLn 1–2$102K
Total assetsLn 16$102K
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$265K
Government grantsLn 1e$225K
Total revenueLn 12$265K
Assets in detailPt X, end of year
CashLn 1$102K
Cash and savings togetherLn 1–2$102K
Total assetsLn 16$102K
LiabilitiesLn 26$0
Net assetsLn 32$102K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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 FY24End FY24
Cash and savingsLn 1–2$61K$102K
Total assetsLn 16$61K$102K
LiabilitiesLn 26$0$0
Net assetsLn 32$61K$102K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$200$200
Advertising and promotionLn 12$207K$207K
Office expensesLn 13$385$385
TravelLn 17$18K$18K
Total functional expensesLn 25$226K$225K$585$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $180K$101K 990 PDF
FY2024 Viewing $265K$226K$39K$102K 990 PDF
FY2023 $19K$61K 990 PDF
FY2022 $128K$75K 990 PDF
FY2021 Not on file
FY2020 $1K$42K 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 $265,067 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$265,067
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $0$265,067
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 $0$225,606
I-18 Total expensesPrior year $0$225,606
I-19 Revenue less expensesPrior year $0$39,461
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
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 $265,067 across 4 lines filed
VIII-1e Government grants$225,000
VIII-1f All other contributions, gifts and grants$40,067
VIII-1h Total contributions, gifts and grants$265,067
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$265,067
Part IX · Statement of functional expenses $225,606 across 4 lines filed
IX-11c Accounting feesManagement $200$200
IX-12 Advertising and promotionPrograms $206,930$206,930
IX-13 Office expensesManagement $385$385
IX-17 TravelPrograms $18,091$18,091
IX-25 Total functional expensesPrograms $225,021 · Management $585 · Fundraising $0$225,606
Part X · Balance sheet $101,542 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $61,433$101,542
X-16 Total assetsStart of year $61,433$101,542
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $61,433$101,542
X-32 Total net assets or fund balancesStart of year $61,433$101,542
X-33 Total liabilities and net assetsStart of year $61,433$101,542
Part XI · Reconciliation of net assets $101,542 net assets at year end
XI-1 Total revenue$265,067
XI-2 Total expenses$225,606
XI-3 Revenue less expenses$39,461
XI-4 Net assets at start of year$61,433
XI-9 Other changes in net assets$648
XI-10 Net assets at end of year$101,542

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

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