Demco Charitable Foundation
- Assets
- $3.2m
- Revenue
- $776.9k
- Investments
- $3.1m
- Employees
- 0
- Location
- Boyden, IA
- Founding
- 01/1989
- Data as of
- 06/2024
- EIN
- 42-1322684
Organization Overview
Demco Charitable Foundation is located in Boyden, IA. The organization was established in 1989. 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. Demco Charitable Foundation 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 06/2024, Demco Charitable Foundation generated $776.9k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 26.6% each year . All expenses for the organization totaled $389.6k during the year ending 06/2024. While expenses have increased by 10.8% per year over the past 9 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, Demco Charitable Foundation has awarded 219 individual grants totaling $1,433,378. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT COMMUNITY RESOURCES AND EDUCATION OF NORTHWEST IOWA AND THE SURROUNDING TRI STATE AREA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Koerselman President | 0 | $0 | |
Kevin Ten Haken VP | 0 | $0 | |
James C Koerselman Secretary | 0 | $0 | |
Janice Vander Pol Treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $650,000 |
| Interest on Savings | $20,179 |
| Dividends & Interest | $50,364 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $87,226 |
| Capital Gain Net Income | $87,226 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$30,830 |
| Total Revenue | $776,939 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,011 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $1,011 |
| Contributions, gifts, grants paid | $388,600 |
| Total expenses and disbursements | $389,611 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,004 |
| Savings and temporary cash investments | $90,995 |
| 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 | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $69,170 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $3,228,416 |
| 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 |
Grants Awarded
Over the last fiscal year, Demco Charitable Foundation has awarded $388,600 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
ASSUMPTIONS INSTITUTE PURPOSE: TO SUPPORT RELIGIOUS SERVICES | $1,000 |
DORDT COLLEGE PURPOSE: TO SUPPORT EDUCATIONAL SERVICES OF HIGHER LEARNING | $12,000 |
BOYDEN-HULL HIGH SCHOOL PURPOSE: TO SUPPORT EDUCATIONAL SERVICES | $5,000 |
FREEDOM IN CHRIST MINISTRIES PURPOSE: TO SUPPORT RELIGIOUS SERVICES | $1,000 |
IOWA LAKES CORRIDOR PURPOSE: TO SUPPORT ECONOMIC DEVELOPMENT IN BV, CLAY, DICKINSON, AND EMMET COUNTIES | $2,500 |
NORTHWEST IOWA COMMUNITY COLLEGE PURPOSE: TO SUPPORT EDUCATIONAL SYSTEM | $2,500 |