Steele Development FY2022 filing

Mankato, MNUnknown exempt organization EIN 83-2767956Revenue $228K in FY2022Latest return filed Apr 17, 2026

On file with the IRSMankato, MN

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To provide opportunity and mentoring of young athletes to pursue their goals of playing college athletics and obtaining higher education.

74¢ of each $1 spent went to programs.
$51K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
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 $22K a year · 9% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$51K
to officers and key staff · 15% of spending
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$280K
472% of total assets
Concern: liabilities are 472% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 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
$228K
-11% vs prior year
Spent
$330K
To programs
74%
Net assets
−$221K
By yearFY2020–FY2025
Revenue
$228K
FY2022▼ -11%
Tap a bar for its year
Revenue by fiscal year
FY2020$267K
FY2021$255K
FY2022$228K
FY2023$345K
FY2024$239K
FY2025$249K
Expenses
$330K
FY2022▲ +33%
Tap a bar for its year
Expenses by fiscal year
FY2020$257K
FY2021$248K
FY2022$330K
FY2023$264K
FY2024$240K
FY2025$109K
Net assets
−$221K
FY2022▼ -86%
Tap a bar for its year
Net assets by fiscal year
FY2020−$126K
FY2021−$119K
FY2022−$221K
FY2023−$139K
FY2024−$140K
FY2025$0

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 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 Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $245K Management & general 26% · $85K

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

7 people listed on the 990; $51K paid to officers and key staff.

Part VII, Section A · reportable compensation
Board Member
$34,500Pt VII · Sec A
Board Member
$16,500Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Nick Adamek$7,962$34,500$34,500$34,500$31,846$36,425
Wilson Anderle—$15,500$16,500$16,500——
Sebastian Vokon————$4,800$7,200
Eric Hoffman—————$4,154

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.

See Steele Development executive salaries →

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

Mentors young athletes to achieve college sports and education goals.

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1 program · $245K · in their own filed words · FY2022
01

Provided an organized hockey team, coaching, and overall program for 25-30 players ages 16-20 years of age. Provided college visits, mentoring, volunteer hours to the community, while also focusing on college opportunities for aging players to apply for.

$245Kprogram expense

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$228K
Ln 12
Fees for servicesLn 2g$224K
Gifts and grantsLn 1h$4K
Money outPt IX
$330K
Ln 25
Programscol B$245K
Managementcol C$85K
Owns and owesPt X
−$221K
net assets · Ln 32
Cash and savingsLn 1–2$14K
Total assetsLn 16$59K
LiabilitiesLn 26$280K
PeoplePt VI, VII
7
listed · VII A
PaidVII A2
Voting boardVI 1a7
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4K
Fees for servicesLn 2g$224K
Total revenueLn 12$228K
Assets in detailPt X, end of year
CashLn 1$14K
Cash and savings togetherLn 1–2$14K
Accounts receivableLn 4$42K
InvestmentsLn 11–13$4K
Total assetsLn 16$59K
LiabilitiesLn 26$280K
Net assetsLn 32−$221K
OperationsPt I, VI
EmployeesI 54
VolunteersI 68
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$16K$14K
InvestmentsLn 11–13$4K$4K
Total assetsLn 16$107K$59K
LiabilitiesLn 26$225K$280K
Net assetsLn 32−$119K−$221K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$51K$46K$5K
Other salaries and wagesLn 7$3K$2K$259
Payroll taxesLn 10$6K$5K$563
Legal feesLn 11b$16K$16K
Accounting feesLn 11c$4K$4K
Other fees for servicesLn 11g$44K$44K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$3K$3K
TravelLn 17$62K$62K
Conferences, conventions and meetingsLn 19$47$47
InterestLn 20$5K$5K
InsuranceLn 23$924$924
Other expenses (24a–d)Ln 24$116K$69K$47K
All other expensesLn 24e$18K$14K$5K
Total functional expensesLn 25$330K$245K$85K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Apr 17, 2026 $249K$109K$140K$0 990 PDF
FY2024Filed with the IRS Sep 17, 2025 $239K$240K−$1K−$140K 990 PDF
FY2023Filed with the IRS Aug 26, 2024 $345K$264K$82K−$139K 990 PDF
FY2022 ViewingFiled with the IRS Oct 26, 2023 $228K$330K−$102K−$221K 990 PDF
FY2021Filed with the IRS Jul 18, 2022 $255K$248K$7K−$119K 990 PDF
FY2020Filed with the IRS Nov 2, 2021 $267K$257K$9K−$126K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $227,939 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$4,076
I-9 Program service revenuePrior year $254,884$223,863
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $254,884$227,939
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 $46,149$59,226
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $201,835$270,861
I-18 Total expensesPrior year $247,984$330,087
I-19 Revenue less expensesPrior year $6,900−$102,148
Part VI · Governance 5 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members5
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 $227,939 across 4 lines filed
VIII-1f All other contributions, gifts and grants$4,076
VIII-1h Total contributions, gifts and grants$4,076
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $223,863$223,863
VIII-12 Total revenueRelated to mission $223,863 · Unrelated business $0 · Excluded from tax $0$227,939
Part IX · Statement of functional expenses $330,087 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $45,900 · Management $5,100$51,000
IX-7 Other salaries and wagesPrograms $2,333 · Management $259$2,592
IX-10 Payroll taxesPrograms $5,071 · Management $563$5,634
IX-11b Legal feesManagement $15,843$15,843
IX-11c Accounting feesManagement $3,647$3,647
IX-11g Other fees for servicesPrograms $44,092$44,092
IX-12 Advertising and promotionPrograms $2,236$2,236
IX-13 Office expensesManagement $2,904$2,904
IX-17 TravelPrograms $62,241$62,241
IX-19 Conferences, conventions and meetingsPrograms $47$47
IX-20 InterestManagement $4,750$4,750
IX-23 InsurancePrograms $924$924
IX-24 Other expenses (24a–d)Programs $68,609 · Management $47,109$115,718
IX-24e All other expensesPrograms $13,679 · Management $4,780$18,459
IX-25 Total functional expensesPrograms $245,132 · Management $84,955 · Fundraising $0$330,087
Part X · Balance sheet $59,423 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $16,402$13,656
X-4 Accounts receivableStart of year $86,558$42,067
X-11 Publicly traded securitiesStart of year $3,700$3,700
X-16 Total assetsStart of year $106,660$59,423
X-17 Accounts payable and accrued expensesStart of year $185,431$241,590
X-24 Unsecured notes and loans payableStart of year $40,000$38,752
X-26 Total liabilitiesStart of year $225,431$280,342
X-27 Net assets without donor restrictionsStart of year −$118,771−$220,919
X-32 Total net assets or fund balancesStart of year −$118,771−$220,919
X-33 Total liabilities and net assetsStart of year $106,660$59,423
Part XI · Reconciliation of net assets −$220,919 net assets at year end
XI-1 Total revenue$227,939
XI-2 Total expenses$330,087
XI-3 Revenue less expenses−$102,148
XI-4 Net assets at start of year−$118,771
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$220,919

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

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