Mason City Foundation
- Assets
- $5.7m
- Revenue
- $408.2k
- Investments
- $0.0
- Employees
- 6
- Location
- Mason City, IA
- Founding
- 12/1991
- Data as of
- 12/2022
- EIN
- 42-1375606
Organization Overview
Mason City Foundation is located in Mason City, IA. The organization was established in 1991. According to its NTEE Classification (C20) the organization is classified as: Pollution Abatement & Control, under the broad grouping of Environment and related organizations. As of 12/2022, Mason City Foundation employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mason City 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 12/2022, Mason City Foundation generated $408.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $537.5k during the year ending 12/2022. While expenses have increased by 1.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CULTIVATE AND SUPPORT EFFORTS TO ENRICH THE CULTURAL ENVIRONMENT OF THE COMMUNITY. THE FOUNDATION OPERATES THE BOYHOOD HOME OF MEREDITH WILLSON AND MUSIC MAN SQUARE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PERSERVE THE HERITAGE OF MEREDITH WILLSON BY BUILDING A FACILITY TO HOUSE A MUSEUM AND THEATRE; OPERATING THE MEREDITH WILLSON HOME AS A LOCAL LANDMARK; PROVIDING MUSIC EDUCATION PROGRAMS TO INDIVIDUALS OF ALL AGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nick Whitehurst Operations Manager | OfficerTrustee | 40 | $55,000 |
Dalena Barz President | OfficerTrustee | 2 | $0 |
Nathan Hehr Director | Trustee | 1 | $0 |
Ann Beasley Vice President | OfficerTrustee | 1 | $0 |
Elizabeth Kirby Director | Trustee | 1 | $0 |
Nancy Lass Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $28,800 |
| All other contributions, gifts, grants, and similar amounts not included above | $265,781 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $294,581 |
| Total Program Service Revenue | $81,055 |
| Investment income | $5,151 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,094 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $2,789 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $20,564 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $408,234 |
| 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. | $55,000 |
| Compensation of current officers, directors, key employees. | $38,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $41,039 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,590 |
| Payroll taxes | $9,698 |
| Fees for services: Management | $1,500 |
| Fees for services: Legal | $831 |
| Fees for services: Accounting | $875 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,554 |
| Advertising and promotion | $4,800 |
| Office expenses | $1,503 |
| Information technology | $3,420 |
| Royalties | $0 |
| Occupancy | $143,845 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $314 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $198,814 |
| Insurance | $46,871 |
| All other expenses | $8,089 |
| Total functional expenses | $537,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $133,949 |
| Savings and temporary cash investments | $40,009 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,078 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $32,836 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $5,440,376 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $94,631 |
| Total assets | $5,745,879 |
| Accounts payable and accrued expenses | $12,150 |
| 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 | $150,000 |
| Other liabilities | $0 |
| Total liabilities | $162,150 |
| Net assets without donor restrictions | $5,583,729 |
| 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 | $5,745,879 |