Lyon County Riverboat Foundation Inc
- Assets
- $2.3m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 1
- Location
- Rock Rapids, IA
- Founding
- 05/2010
- Data as of
- 12/2022
- EIN
- 27-1024697
Organization Overview
Lyon County Riverboat Foundation Inc is located in Rock Rapids, IA. The organization was established in 2010. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lyon County Riverboat Foundation Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Lyon County Riverboat Foundation Inc generated $3.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $3.5m during the year ending 12/2022. While expenses have increased by 5.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Lyon County Riverboat Foundation Inc has awarded 318 individual grants totaling $19,195,393. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO DISTRIBUTE FUNDS RECEIVED FROM THE GRAND FALLS CASINO & RESORT TO QUALIFIED NON-PROFIT ORGANIZATIONS INCLUDING COUNTY, MUNICIPALITIES AND SCHOOL DISTRICTS IN ACCORDANCE WITH IOWA CODE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DISTRIBUTES 50% OF ITS ANNUAL NET RECEIPTS TO THE INCORPORATED MUNICIPAL CITIES, COUNTY GOVERNMENT, AND SCHOOL DISTRICTS DISTRICTS IN LYON COUNTY.
THE FOUNDATION DISTRIBUTES 50% OF ITS NET ANNUAL NET RECEIPTS IN THE FORM OF GRANTS AND SCHOLARSHIPS TO QUALIFIED NON-PROFIT ORGAINIZATIONS. THESE COMPETTITIVE GRANTS ARE AWARDED ON AN APPLICATION PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alicia Vermeer Treasurer | OfficerTrustee | 2 | $0 |
Joe Schilling Board Member | Trustee | 1 | $0 |
Scott Kruse Board Member | Trustee | 1 | $0 |
Dennis Haselhoff Board Member | Trustee | 1 | $0 |
Carol Vander Kolk Board Member | Trustee | 1 | $0 |
Fred Landis Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,498,854 |
| Investment income | $11,303 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,510,157 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,393,895 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,083 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,462 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $825 |
| Fees for services: Accounting | $9,775 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,479 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,220 |
| Travel | $23,419 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,798 |
| Insurance | $4,162 |
| All other expenses | $237 |
| Total functional expenses | $3,489,709 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,038,159 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $266,456 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,073 |
| Net Land, buildings, and equipment | $5,533 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $800 |
| Total assets | $2,314,021 |
| Accounts payable and accrued expenses | $2,420 |
| Grants payable | $1,059,692 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,062,112 |
| Net assets without donor restrictions | $1,251,909 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,314,021 |
Grants Awarded
Over the last fiscal year, Lyon County Riverboat Foundation Inc has awarded $3,219,556 in support to 39 organizations.
| Grant Recipient | Amount |
|---|---|
ALVORD EMS PURPOSE: EQUIPMENT | $22,500 |
ALVORD FIRE AND RESCUE PURPOSE: AIR COMPRESSOR SCBA REFILL STATION | $44,600 |
CENTRAL LYON CSD PURPOSE: OPERATING EXPENSES | $288,120 |
CITY OF ALVORD PURPOSE: OPERATING EXPENSES | $87,896 |
CITY OF DOON PURPOSE: OPERATING EXPENSES | $90,741 |
CITY OF DOON FIRE DPT PURPOSE: EQUIPMENT | $22,500 |