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Iowa Area Development Group L C FY2022 filing

Tax-deductible

Des Moines, IA501(c)(3)Foundations & Grantmakers EIN 83-0361044Revenue $284K in FY2022

On file with the IRSiadg.com2600 Grand Ave Ste 430, 50312-5366 · Des Moines, IATax-exempt since Dec 2003Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of the Iowa Area Development Group Community Foundation is to foster economic development and community betterment by providing public policy research and promotion; education and training; and community based and guided philanthropy.

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

FY2022 · 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
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
5 of 5
filings with a surplus
Average surplus $208K a year · 66% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
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
27 mo
of spending, in cash
Plus $2.4M in investments, Pt X · Ln 11–13
Looks good: 26.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$284K
-25% vs prior year
Spent
$56K
To programs
100%
Net assets
$2.5M
By yearFY2020–FY2024
Revenue
$284K
FY2022▼ -25%
Tap a bar for its year
Revenue by fiscal year
FY2020$218K
FY2021$380K
FY2022$284K
FY2023$294K
FY2024$399K
Expenses
$56K
FY2022▼ -31%
Tap a bar for its year
Expenses by fiscal year
FY2020$61K
FY2021$82K
FY2022$56K
FY2023$78K
FY2024$258K
Net assets
$2.5M
FY2022▼ -6%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.2M
FY2021$2.7M
FY2022$2.5M
FY2023$3.0M
FY2024$3.3M

From the FY2022 Form 990 · see the original

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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 Dec 2003.

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% · $56K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Ken Kuyper
Vice President
$0Pt VII · Sec A
Bruce Nuzum
CEO/Secretary/Treasurer
$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 Iowa Area Development Group L C 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Promotes economic growth and community improvement through research, education, and local philanthropy.

Questions for Iowa Area Development Group L C

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Provided by the organization

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1 program · $56K · in their own filed words · FY2022
01

Conducting leadership development programs and seminars in order to educate electric cooperative members, community volunteers and professional developers about tools, resources, and technical assistance in order to further local economic developmental efforts.

$56Kprogram 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 · 13 grants · $245K · 2020–2024
Community Foundation of Greater Des MoinesFY2024$35,000
Keokuk County Community Endowment FoundationFY2024$10,000
Hancock County Foundation (co Comm Fdn Gtr Des Moines)FY2024$10,000
Community Foundation of Greater Des MoinesFY2023$35,000
Keokuk County Community Endowment FoundationFY2023$10,000
Iowa Area Development GroupFY2023$10,000
Community Foundation of Greater Des MoinesFY2022$35,000
Iowa Rural Development CouncilIA · FY2022$5,000
Community Foundation of Greater Des MoinesFY2021$35,000
City of PostvilleFY2021$10,000
Iowa State University FoundationIA · FY2021$10,000
Community Foundation of Greater Des MoinesFY2020$35,000
Iowa Rural Development CouncilIA · FY2020$5,000

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$284K
Ln 12
Fees for servicesLn 2g$202K
Investment incomeLn 3$79K
Gifts and grantsLn 1h$2K
Money outPt IX
$56K
Ln 25
Programscol B$56K
Owns and owesPt X
$2.5M
net assets · Ln 32
Cash and savingsLn 1–2$125K
Total assetsLn 16$2.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Fees for servicesLn 2g$202K
Investment incomeLn 3$79K
Gains on assetsLn 7$20K
Total revenueLn 12$284K
Assets in detailPt X, end of year
SavingsLn 2$125K
Cash and savings togetherLn 1–2$125K
InvestmentsLn 11–13$2.4M
Total assetsLn 16$2.5M
LiabilitiesLn 26$0
Net assetsLn 32$2.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$151K$125K
InvestmentsLn 11–13$2.5M$2.4M
Total assetsLn 16$2.7M$2.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$2.7M$2.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$43K$43K
Accounting feesLn 11c$908$908
Other expenses (24a–d)Ln 24$12K$12K
Total functional expensesLn 25$56K$56K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $399K$258K$141K$3.3M 990 PDF
FY2023 $294K$78K$216K$3.0M 990 PDF
FY2022 Viewing $284K$56K$227K$2.5M 990 PDF
FY2021 $380K$82K$298K$2.7M 990 PDF
FY2020 $218K$61K$156K$2.2M 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 FY2022 990 (6 parts)
Part I · Summary $283,671 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,868$2,310
I-9 Program service revenuePrior year $195,662$202,451
I-10 Investment incomePrior year $181,853$78,910
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $380,383$283,671
I-13 Grants and similar amounts paidPrior year $56,350$43,100
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 $25,680$13,354
I-18 Total expensesPrior year $82,030$56,454
I-19 Revenue less expensesPrior year $298,353$227,217
Part VI · Governance 9 of 9 board members independent, 3 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
Part VIII · Statement of revenue $283,671 across 6 lines filed
VIII-1f All other contributions, gifts and grants$2,310
VIII-1h Total contributions, gifts and grants$2,310
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $202,451$202,451
VIII-3 Investment incomeExcluded from tax $58,924$58,924
VIII-7 Net gain or loss on sales of assetsExcluded from tax $19,986$19,986
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $281,361$283,671
Part IX · Statement of functional expenses $56,454 across 3 lines filed
IX-1 Grants to domestic organizationsPrograms $43,100$43,100
IX-11c Accounting feesPrograms $908$908
IX-24 Other expenses (24a–d)Programs $12,446$12,446
IX-25 Total functional expensesPrograms $56,454 · Management $0 · Fundraising $0$56,454
Part X · Balance sheet $2,528,381 assets, 6 lines filed
X-2 Savings and temporary cash investmentsStart of year $150,530$125,127
X-12 Other securitiesStart of year $2,533,593$2,403,254
X-16 Total assetsStart of year $2,684,124$2,528,381
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $2,684,124$2,528,381
X-33 Total liabilities and net assetsStart of year $2,684,124$2,528,381
Part XI · Reconciliation of net assets $2,528,381 net assets at year end
XI-1 Total revenue$283,671
XI-2 Total expenses$56,454
XI-3 Revenue less expenses$227,217
XI-4 Net assets at start of year$2,684,124
XI-5 Net unrealized gains (losses) on investments−$382,960
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,528,381

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

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