Fort Madison Sirrc Corporation
- Assets
- $680.4k
- Revenue
- $450.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Madison, IA
- Founding
- 05/1998
- Data as of
- 12/2022
- EIN
- 42-1379413
Organization Overview
Fort Madison Sirrc Corporation is located in Fort Madison, IA. The organization was established in 1998. According to its NTEE Classification (S99) the organization is classified as: Community Improvement & Capacity Building N.E.C., under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fort Madison Sirrc Corporation 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, Fort Madison Sirrc Corporation generated $450.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $536.3k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Fort Madison Sirrc Corporation has awarded 46 individual grants totaling $5,142,865. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FORT MADISON SIRRC CORPORATION ACCUMULATES FUNDS IN ANTICIPATION OF MAKING GRANTS TO QUALIFIED, NON-PROFIT ORGANIZATIONS WITHIN THE COMMUNITY SPECIFICALLY FOR COMMUNITY BETTERMENT PROJECTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE OF THE CORPORATION IS TO ACT AS A CONDUIT OF FUNDS FROM THE SOUTHEAST IOWA REGIONAL RIVERBOAT COMMISSION TO THE CITY OF FORT MADISON. THESE FUNDS ARE TO BE USED TO RETIRE DEBT OBLIGATIONS UNDERTAKEN BY THE CITY OF FORT MADISON FOR RIVERFRONT FACILITY CONSTRUCTION NECESSARY TO ACCOMMODATE THE RIVERBOAT. UPON COMPLETE RETIREMENT OF THESE BONDS, THE FUNDS ARE TO BE USED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSE OF THE CITY OR OTHER CHARITABLE ORGANIZATIONS WITHIN THE CITY OR THE SURROUNDING COMMUNITY. RETIREMENT OF THE BONDS WAS COMPLETED DURING 2001. THE ORGANIZATION IS NOW ACCUMULATING FUNDS IN ANTICIPATION OF MAKING GRANTS TO OTHER QUALIFIED, NON-PROFIT ORGANIZATIONS WITHIN THE COMMUNITY SPECIFICALLY FOR COMMUNITY BETTERMENT PROJECTS. THERE ARE NO COMMITTEES THAT ACT ON BEHALF OF THE GOVERNING BOARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Culbertson Director | Trustee | $0 | |
Marty Dean Treasurer | OfficerTrustee | $0 | |
Bob Huffman Jr Director | Trustee | $0 | |
Chuck Kemkper Director | Trustee | $0 | |
Steve W Link President | OfficerTrustee | 1 | $0 |
Jason Lynk Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $448,079 |
| 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 | $448,079 |
| Total Program Service Revenue | $0 |
| Investment income | $2,776 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $450,855 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $535,000 |
| 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. | $0 |
| 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 | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $201 |
| All other expenses | $12 |
| Total functional expenses | $536,263 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $310,312 |
| Savings and temporary cash investments | $370,050 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $680,362 |
| 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 | $680,362 |
| 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 | $680,362 |
Grants Awarded
Over the last fiscal year, Fort Madison Sirrc Corporation has awarded $535,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
FORT MADISON PARTNERS PURPOSE: COMMUNITY GROWTH | $70,000 |
FORT MADISON RODEO CORPORATION PURPOSE: GRANDSTAND CONSTRUC. | $90,000 |
SOUTHEAST IOWA AQUATIC RESTORATION PURPOSE: MARINA DEVELOPMENT | $300,000 |
FM BEAUTIFICATION FOUNDATION PURPOSE: FACILITY DEVELOPMENT | $75,000 |