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Cherokee Rodeo INC FY2022 filing

Tax-deductible

Holstein, IA501(c)(3)Food & Agriculture EIN 92-0578940Revenue $92K in FY2022

On file with the IRScherokeerodeo.com1362 Highway 59, 51025-8000 · Holstein, IATax-exempt since Dec 2023Publicly supported — 509(a)(2)

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To promote agriculture by hosting an annual family freindly Rodeo event that educates and entertains the public, supports iowa youth, showcases midwestern livestock heritage, and provides year round educational support witnin the community.

501(c)(3) charity; gifts are tax-deductible.
3¢ 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
3 of 3
filings with a surplus
Average surplus $43K a year · 26% 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
3%
of spending
Concern: 3% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
76 mo
of spending, in cash
Looks good: 76.2 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
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$92K
Spent
$12K
To programs
3%
Net assets
$79K
By yearFY2022–FY2024
Revenue
$92K
FY2022
Tap a bar for its year
Revenue by fiscal year
FY2022$92K
FY2023$201K
FY2024$201K
Expenses
$12K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2022$12K
FY2023$162K
FY2024$189K
Net assets
$79K
FY2022
Tap a bar for its year
Net assets by fiscal year
FY2022$79K
FY2023$118K
FY2024$138K

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 2023.

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

Where the money goes

3 cents of each dollar spent went to programs.

Program services 3% · $345 Management & general 53% · $7K Fundraising 44% · $6K

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.

Part VII, Section A · reportable compensation
Dennis Knop
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Megan Pigott
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Allan Dessel
Treasurer
$0Pt VII · Sec A
See Cherokee Rodeo 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

Hosts a family rodeo to promote agriculture, educate the public, and support Iowa youth and heritage.

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Provided by the organization

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1 program · $345 · in their own filed words · FY2022
01

Created a non-profit organization intended to beneift the agriculture community around the area

$345program 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 · 2 grants · $14K · 2024–2024
Unitemized GrantFY2024$10,000
VariousFY2024$3,900

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$92K
Ln 12
Other incomeLn 4–11$91K
Gifts and grantsLn 1h$500
Money outPt IX
$12K
Ln 25
Programscol B$345
Managementcol C$7K
Fundraisingcol D$6K
Owns and owesPt X
$79K
net assets · Ln 32
Cash and savingsLn 1–2$79K
Total assetsLn 16$79K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$500
Government grantsLn 1e$500
Other incomeLn 4–11$91K
Total revenueLn 12$92K
Assets in detailPt X, end of year
CashLn 1$79K
Cash and savings togetherLn 1–2$79K
Total assetsLn 16$79K
LiabilitiesLn 26$0
Net assetsLn 32$79K
OperationsPt I, VI
EmployeesI 50
VolunteersI 630
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$79K
Total assetsLn 16$0$79K
LiabilitiesLn 26$0$0
Net assetsLn 32$0$79K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$345$345
Management feesLn 11a$1K$1K
Legal feesLn 11b$3K$2K$1K
Other fees for servicesLn 11g$3K$833$2K
Advertising and promotionLn 12$2K$80$2K
Office expensesLn 13$129$129
InsuranceLn 23$3K$3K
Total functional expensesLn 25$12K$345$7K$6K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $201K$189K$12K$138K 990 PDF
FY2023 $201K$162K$39K$118K 990 PDF
FY2022 Viewing $92K$12K$79K$79K 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 $91,824 revenue, 12 lines filed
I-8 Contributions and grants$500
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$91,324
I-12 Total revenue$91,824
I-13 Grants and similar amounts paid$345
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$12,152
I-18 Total expenses$12,497
I-19 Revenue less expenses$79,327
Part VI · Governance 0 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
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 $91,824 across 4 lines filed
VIII-1e Government grants$500
VIII-1h Total contributions, gifts and grants$500
VIII-8 Net income from fundraising eventsUnrelated business $91,324$91,324
VIII-12 Total revenueRelated to mission $0 · Unrelated business $91,324 · Excluded from tax $0$91,824
Part IX · Statement of functional expenses $12,497 across 7 lines filed
IX-2 Grants to domestic individualsPrograms $345$345
IX-11a Management feesManagement $1,124$1,124
IX-11b Legal feesManagement $1,689 · Fundraising $1,177$2,866
IX-11g Other fees for servicesManagement $833 · Fundraising $2,245$3,078
IX-12 Advertising and promotionManagement $80 · Fundraising $2,134$2,214
IX-13 Office expensesManagement $129$129
IX-23 InsuranceManagement $2,741$2,741
IX-25 Total functional expensesPrograms $345 · Management $6,596 · Fundraising $5,556$12,497
Part X · Balance sheet $79,327 assets, 6 lines filed
X-1 Cash, non-interest-bearing$79,327
X-16 Total assetsStart of year $0$79,327
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictions$79,327
X-32 Total net assets or fund balancesStart of year $0$79,327
X-33 Total liabilities and net assetsStart of year $0$79,327
Part XI · Reconciliation of net assets $79,327 net assets at year end
XI-1 Total revenue$91,824
XI-2 Total expenses$12,497
XI-3 Revenue less expenses$79,327
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$79,327

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

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