Old Threshers Foundation Inc
- Assets
- $3.5m
- Revenue
- $207.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Mt Pleasant, IA
- Founding
- 06/1986
- Data as of
- 10/2023
- EIN
- 42-1272944
Organization Overview
Old Threshers Foundation Inc is located in Mt Pleasant, IA. The organization was established in 1986. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Old Threshers Foundation 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 10/2023, Old Threshers Foundation Inc generated $207.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $229.4k during the year ending 10/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE FOR CHARITABLE AND EDUCATIONAL PURPOSES BY RAISING FUNDS FOR AND DISTRIBUTING THE INCOME FROM THOSE FUNDS FOR CAPITAL PROJECTS AND IMPROVEMENTS OF THE MIDWEST OLD SETTLERS AND THRESHERS ASSOCIATION, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS EVENTS LIKE FESTIVAL OF LIGHTS AND THE IOWA STATE FAIR TOURISM BOOTH TO ATTRACT PEOPLE TO THE MIDWEST OLD SETTLERS & THRESHERS GROUNDS. FOUNDATION BOARD MEMBERS PARTICIPATE IN FIELD TRIP TOURS FOR NEARLY 1,000 UPPER ELEMENTARY SCHOOL AGE CHILDREN WHO VISIT MIDWEST OLD THRESHERS EACH SPRING. THE STUDENTS ARE GIVEN A GIFT BAG PROVIDED BY A FOUNDATION BOARD MEMBER AND INFORMATION FOR THE UPCOMING REUNION TO ENCOURAGE THE CHILDREN TO RETURN WITH THEIR FAMILIES DURING THE ANNUAL REUNION.
THE FOUNDATION HAS SPEARHEADED FUNDRAISING EFFORTS ON BEHALF OF MIDWEST OLD THRESHERS TO CONTINUE TO DEVELOP RELATIONSHIPS WITH DONORS AND GROW THE ENDOWMENT, THE EARNINGS OF WHICH, ARE GRANTED TO MIDWEST OLD THRESHERS ANNUALLY.
DURING THE PAST SIX ANNUAL REUNIONS, THE FOUNDATION HAS RECOGNIZED A TOP FINANCIAL SUPPORTER AND VOLUNTEER OF MIDWEST OLD THRESHERS BY AWARDING THE "GOLDEN WHEAT AWARD" TO THAT RECIPIENT. FOUNDATION BOARD MEMBERS VOLUNTEER TO ASSIST MIDWEST OLD THRESHERS THROUGHOUT THE YEAR AT VARIOUS EVENTS SPONSORED BY MOSTA SUCH AS SCHOOL TOURS, STEAM ENGINE SCHOOL, TROLLEY SCHOOL, 4TH OF JULY ACTIVITIES, ANNUAL REUNION, HAUNTED RAILS AND HAUNTED HOUSE, AND FESTIVAL OF LIGHTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Barton Director | Trustee | 1 | $0 |
Todd Mabeus President | OfficerTrustee | 5 | $0 |
Joyce Dennison Director | Trustee | 1 | $0 |
Phil Mcmeins Director | Trustee | 1 | $0 |
Alan Elgar Director | Trustee | 1 | $0 |
Rich Seberg Director | 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 | $98,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $98,200 |
| Total Program Service Revenue | $0 |
| Investment income | $110,619 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,722 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $13,254 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $207,351 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $173,085 |
| 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. | $10,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $765 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,319 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,307 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,494 |
| Office expenses | $154 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $433 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,104 |
| All other expenses | $0 |
| Total functional expenses | $229,387 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $40,594 |
| Savings and temporary cash investments | $15,530 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $3,468,895 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,525,019 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $1,380,301 |
| Net assets with donor restrictions | $2,144,718 |
| 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 | $3,525,019 |