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Pay IT Forward Scholarship Foundation

Winterset, IA501(c)(3)Since 2021EducationEIN 86-3816276Revenue $57K in FY2025

On file with the IRS65 E Jefferson St, 50273-1540 · Winterset, IATax-exempt since Mar 2022Publicly supported — 509(a)(2)

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Working with the winterset community, the Foundation will provide monetary resources to support students to develop skills necessary to be successful. The Foundation will achieve this purpose by providing sustained access to college and/or post-secondary job training and skills. We will focus our work on empowering students to find their voice and take an active role in changing their current situation.

54¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2025 · 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
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
3 of 3
filings with a surplus
Average surplus $43K a year · 76% 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
54%
of spending
Worth a look: 54% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$57K
+11% vs prior year
Spent
$10K
To programs
54%
Net assets
$259K
By yearFY2023–FY2025
Revenue
$57K
FY2025▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2023$63K
FY2024$51K
FY2025$57K
Expenses
$10K
FY2025▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2023$19K
FY2024$11K
FY2025$10K
Net assets
$259K
FY2025▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2023$172K
FY2024$212K
FY2025$259K

From the FY2025 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2022.

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

Where the money goes

54 cents of each dollar spent went to programs.

Program services 54% · $5K Management & general 46% · $5K

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

9 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
Peter Corkrean
Vice Preside
$0Pt VII · Sec A
Rita Drydale
Director
$0Pt VII · Sec A
Rick Hoenig
Director
$0Pt VII · Sec A
Sandy Hoenig
Director
$0Pt VII · Sec A
See Pay IT Forward Scholarship Foundation 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

Empowering students with resources for college, job training, and skill development.

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Provided by the organization

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1 program · $5K · in their own filed words · FY2025
01

Educational scholarships are awarded based upon need and to at-risk young men and women. Four scholarships were awarded in 2025 and over 5,000 of scholarship assistance was provided in 2025 to two active scholars.

$5Kprogram 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 · $5K · 2025–2025
Unitemized GrantFY2025$5,365

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$57K
Ln 12
Gifts and grantsLn 1h$48K
Investment incomeLn 3$8K
Money outPt IX
$10K
Ln 25
Programscol B$5K
Managementcol C$5K
Owns and owesPt X
$259K
net assets · Ln 32
Total assetsLn 16$259K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$48K
Investment incomeLn 3$8K
Total revenueLn 12$57K
Assets in detailPt X, end of year
Other assetsLn 15$259K
Total assetsLn 16$259K
LiabilitiesLn 26$0
Net assetsLn 32$259K
OperationsPt I, VI
EmployeesI 50
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 FY25End FY25
Total assetsLn 16$212K$259K
LiabilitiesLn 26$0$0
Net assetsLn 32$212K$259K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$5K$5K
Investment management feesLn 11f$5K$5K
Total functional expensesLn 25$10K$5K$5K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $57K$10K$47K$259K 990 PDF
FY2024 $51K$11K$40K$212K 990 PDF
FY2023 $63K$19K$44K$172K 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 FY2025 990 (6 parts)
Part I · Summary $56,605 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $43,690$48,460
I-9 Program service revenue$0
I-10 Investment incomePrior year $7,448$8,145
I-11 Other revenue$0
I-12 Total revenuePrior year $51,138$56,605
I-13 Grants and similar amounts paid$5,365
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $11,389$4,604
I-18 Total expensesPrior year $11,389$9,969
I-19 Revenue less expensesPrior year $39,749$46,636
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $56,605 across 4 lines filed
VIII-1f All other contributions, gifts and grants$48,460
VIII-1h Total contributions, gifts and grants$48,460
VIII-3 Investment incomeExcluded from tax $8,145$8,145
VIII-12 Total revenueExcluded from tax $8,145$56,605
Part IX · Statement of functional expenses $9,969 across 2 lines filed
IX-2 Grants to domestic individualsPrograms $5,365$5,365
IX-11f Investment management feesManagement $4,604$4,604
IX-25 Total functional expensesPrograms $5,365 · Management $4,604 · Fundraising $0$9,969
Part X · Balance sheet $258,702 assets, 6 lines filed
X-15 Other assetsStart of year $212,066$258,702
X-16 Total assetsStart of year $212,066$258,702
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $212,066$258,702
X-32 Total net assets or fund balancesStart of year $212,066$258,702
X-33 Total liabilities and net assetsStart of year $212,066$258,702
Part XI · Reconciliation of net assets $258,702 net assets at year end
XI-1 Total revenue$56,605
XI-2 Total expenses$9,969
XI-3 Revenue less expenses$46,636
XI-4 Net assets at start of year$212,066
XI-10 Net assets at end of year$258,702

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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