Tax Education Support Organization
- Assets
- $50.1m
- Revenue
- $3.8m
- Investments
- $1.1m
- Employees
- 13
- Location
- Muscatine, IA
- Founding
- 11/1985
- Data as of
- 12/2021
- 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 12/2021, Tax Education Support Organization employed 13 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 12/2021, Tax Education Support Organization generated $3.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.5% each year . All expenses for the organization totaled $2.1m during the year ending 12/2021. While expenses have increased by 6.6% 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
2021
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 | 40 | $373,417 |
Richard R Phillips Vp, Secretary, Treasurer | OfficerTrustee | 40 | $230,294 |
Christopher S Ingstad Employee | 18 | $175,324 | |
Dan G Steele Employee | 18 | $148,112 | |
Christopher Hagenow Employee | 18 | $141,980 | |
Christopher W Nichols Employee | 40 | $128,556 |
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 | $2,377,802 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $104,519 |
| Net Gain/Loss on Asset Sales | $1,392,219 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,841,089 |
| 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. | $641,337 |
| Compensation of current officers, directors, key employees. | $32,067 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $813,749 |
| Pension plan accruals and contributions | $53,257 |
| Other employee benefits | $52,518 |
| Payroll taxes | $85,673 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $121,476 |
| Fees for services: Accounting | $27,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,100 |
| Advertising and promotion | $9,974 |
| Office expenses | $58,001 |
| Information technology | $32,879 |
| Royalties | $0 |
| Occupancy | $61,183 |
| Travel | $26,860 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $21,559 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,592 |
| Insurance | $48,763 |
| All other expenses | $0 |
| Total functional expenses | $2,112,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $223,930 |
| Savings and temporary cash investments | $2,358,993 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $91,739 |
| 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 | $0 |
| Net Land, buildings, and equipment | $5,311,192 |
| Investments—publicly traded securities | $41,061,791 |
| Investments—other securities | $1,075,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $50,122,645 |
| Accounts payable and accrued expenses | $18,950 |
| 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 | $18,950 |
| Net assets without donor restrictions | $3,286,643 |
| Net assets with donor restrictions | $46,817,052 |
| 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 | $50,122,645 |
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 |
Allen, TX PURPOSE: RELIGIOUS, CHARITABLE, EDUCATIONAL, SCIENTIFIC OR LITERARY PURPOSES | $15,000 |
Lawrenceville, GA PURPOSE: MICHAEL LANGER'S "MINISTRY TO STATE" WORK WITH CONGRESS | $10,000 |
Colorado Springs, CO PURPOSE: RELIGIOUS, CHARITABLE, EDUCATIONAL, SCIENTIFIC OR LITERARY PURPOSES | $10,000 |
FORT WORTH KLIFE PURPOSE: COMMUNITY WIDE, INTERDENOMINATIONAL CHRISTIAN MINISTRY | $10,000 |
Ellerslie, GA PURPOSE: MISSIONAIRIES NATHAN & NICOLE | $7,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tax Education Support Organization has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Voorhees Family Foundation Cedar Falls, IA PURPOSE: OPERATING | $5,000 |
Endowment Analysis
| Beg. Balance | $41,126,186 |
| Earnings | $5,678,957 |
| Other Expense | $1,660,045 |
| Ending Balance | $45,145,098 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Multi-State Lottery Association Johnston, IA | $767,024,005 | $3,442,102 |
Tax Education Support Organization Muscatine, IA | $50,122,645 | $3,841,089 |
We All Rise African American Resource Center Inc Green Bay, WI | $365,569 | $916,065 |
Butler County Community Resource Council Poplar Bluff, MO | $516,466 | $615,835 |
Sheboygan County Half-Way House Inc Sheboygan, WI | $683,303 | $380,567 |
Mecca Center Charity Fund Willowbrook, IL | $26,722 | $422,068 |
Patriot K9 Partners Of Wisconsin Inc Wausau, WI | $306,148 | $489,210 |
Hastings Cable Community Access Corp Hastings, MN | $592,496 | $404,754 |
Veterans Assistance Commission Of Boone County Belvidere, IL | $417,375 | $275,820 |
Soldiers 6 Inc Inver Grove Heights, MN | $46,506 | $0 |
Center For Financial Training North Central States Inc Whitefish Bay, WI | $26,566 | $0 |
Iowa Workforce Development Foundation Des Moines, IA | $86,816 | $0 |