Old Tipton Union School Inc
- Assets
- $266.5k
- Revenue
- $7.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Tipton, IA
- Founding
- 11/2007
- Data as of
- 12/2021
- EIN
- 26-0472589
Organization Overview
Old Tipton Union School Inc is located in Tipton, IA. The organization was established in 2007. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Tipton Union School Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Old Tipton Union School Inc generated $7.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (24.5%) each year. All expenses for the organization totaled $14.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (17.6%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRESERVE AND RESTORE THE OLD TIPTON UNION SCHOOL HOUSE (FIRST FREE GRADED SCHOOL WEST OF THE MISSISSIPPI RIVER) AS A MUSEUM EDUCATING THE PUBLIC ON EARLY PUBLIC EDUCATION IN CEDAR COUNTY AND THE STATE OF IOWA. THE PROCESS OF CONVERTING THE SCHOOL HOUSE FROM RESIDENTIAL PROPERTY TO A MUSEUM CONTINUED IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Boyle President | 5 | $0 | |
Krista Clark President | 5 | $0 | |
Sandra Harmel Director | 1 | $0 | |
Stuart Clark Treasurer | 1 | $0 | |
Danny Ford Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | -$1,181 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $5,100 |
| Total Revenue | $7,619 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,624 |
| Depreciation | $425 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $11,557 |
| Total operating and administrative expenses | $14,706 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $14,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,444 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $23,702 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $155,313 |
| Other assets | $0 |
| Total assets | $266,459 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |