Tax Education Support Organization
- Assets
- $40.3m
- Revenue
- $2.1m
- Investments
- $1.1m
- Employees
- 14
- Location
- Muscatine, IA
- Founding
- 11/1985
- Data as of
- 12/2022
- EIN
- 42-1245565
Organization Overview
Tax Education Support Organization is located in Muscatine, IA. The organization was established in 1985. According to its NTEE Classification (W19) the organization is classified as: Support N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Tax Education Support Organization employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tax Education Support Organization 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 12/2022, Tax Education Support Organization generated $2.1m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $2.2m during the year ending 12/2022. While expenses have increased by 8.6% per year over the past 7 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OUR ONLY ACTIVITY AND PURPOSE IS TO SUPPORT THE IOWANS FOR TAX RELIEF FOUNDATION (ITRF)
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT IOWANS FOR TAX RELIEF FOUNDATION BY PROVIDING STAFF, SERVICES, EQUIPMENT, DATA PROCESSING, WEBSITE, EDUCATIONAL MEETINGS, PRINTING, POSTAGE, AND OTHER ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert H Solt President | OfficerTrustee | 39 | $387,755 |
Richard R Phillips Vp, Secretary, Treasurer | OfficerTrustee | 39 | $239,005 |
Peter E Voorhees Chairman | OfficerTrustee | 2 | $0 |
Charles Espy Director | Trustee | 2 | $0 |
Bryan Oghe Director | Trustee | 2 | $0 |
Christopher S Ingstad Employee | 39 | $187,959 |
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 | $0 |
| Investment income | $1,330,783 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $130,998 |
| Net Gain/Loss on Asset Sales | $663,625 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,081,225 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $668,275 |
| Compensation of current officers, directors, key employees. | $33,414 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $887,239 |
| Pension plan accruals and contributions | $52,698 |
| Other employee benefits | $58,433 |
| Payroll taxes | $84,746 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,199 |
| Fees for services: Accounting | $30,135 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,442 |
| Advertising and promotion | $3,631 |
| Office expenses | $47,939 |
| Information technology | $29,474 |
| Royalties | $0 |
| Occupancy | $68,818 |
| Travel | $18,069 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,456 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,157 |
| Insurance | $20,848 |
| All other expenses | $6,650 |
| Total functional expenses | $2,193,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $227,972 |
| Savings and temporary cash investments | $1,433,317 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,948 |
| 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 | $4,012 |
| Net Land, buildings, and equipment | $5,297,526 |
| Investments—publicly traded securities | $32,115,917 |
| Investments—other securities | $1,075,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,034 |
| Total assets | $40,260,726 |
| Accounts payable and accrued expenses | $11,140 |
| Grants payable | $0 |
| 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 | $11,140 |
| Net assets without donor restrictions | $5,025,749 |
| Net assets with donor restrictions | $35,223,837 |
| 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 | $40,260,726 |
Grants Awarded
Over the last fiscal year, Tax Education Support Organization has awarded $110,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
CAVALRY CHURCH PURPOSE: RELIGIOUS, CHARITABLE, OR EDUCATIONAL PURPOSES | $40,000 |
MISSION TO NORTH AMERICA PURPOSE: MICHAEL LANGER'S "MINISTRY TO STATE" WORK WITH CONGRESS | $10,000 |
FORT WORTH KLIFE PURPOSE: COMMUNITY WIDE, INTERDENOMINATIONAL CHRISTIAN MINISTRY | $10,000 |
THE NAVIGATORS PURPOSE: RELIGIOUS, CHARITABLE, EDUCATIONAL, SCIENTIFIC OR LITERARY PURPOSES | $10,000 |
THE SALT COMPANY AT CORNERSTONE PURPOSE: RELIGIOUS, CHARITABLE, EDUCATIONAL, SCIENTIFIC OR LITERARY PURPOSES | $15,000 |
FRONTIER ALLIANCE INTERNATIONAL PURPOSE: MISSIONAIRIES NATHAN & NICOLE | $7,500 |