Manning Betterment Foundation
- Assets
- $1.2m
- Revenue
- $686.9k
- Investments
- $0.0
- Employees
- 44
- Location
- Manning, IA
- Founding
- 04/1995
- Data as of
- 06/2022
- EIN
- 42-1427287
Organization Overview
Manning Betterment Foundation is located in Manning, IA. The organization was established in 1995. According to its NTEE Classification (S30) the organization is classified as: Economic Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Manning Betterment Foundation employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Manning Betterment 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 06/2022, Manning Betterment Foundation generated $686.9k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $568.2k during the year ending 06/2022. While expenses have increased by 10.9% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE/MISSION OF THE MANNING BETTERMENT FOUNDATION IS: 1-TO ENCOURAGE PRIDE,IDENTIFY NEEDS,AND STIMULATE SOCIAL AND ECONOMIC DEVELOPMENT; DEVISE WAYS TO DIVERSIFY IN ORDER TO MEET FUTURE NEEDS AND CHALLENGES AND TO ESTABLISH A SENSE OF COMMUNITY. 2-TO ENCOURAGE, STIMULATE, AND PROMOTE ECONOMIC AND SOCIAL DEVELOPMENT OF OUR COMMUNITY THROUGH MARKETING, PROMOTION, AND DEVELOPMENT OF OUR PEOPLE, PRODUCTS, AND RESOURCES. 3-TO PROVIDE THE BEST OPPORTUNITY FOR ECONOMIC AND SOCIAL GROWTH AND DEVELOPMENT THROUGH PLANNING AND COORDINATION OF THE PEOPLE, PRODUCTS, AND RESOURCES OF THE MANNING AREA. IDEAS WILL BE FORMULATED AND CARRIED OUT; LEADERS WILL BE IDENTIFIED AND DEVELOPED; AND A SENSE OF COMMUNITY PRIDE WILL BE FOSTERED AND PROMOTED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CREATION OF ADDITIONAL JOBS WITHIN THE COMMUNITY WAS ACCOMPLISHED BY ATTRACTING A NEW BUSINESS TO THE CITY OF MANNING. THE FOUNDATION AIDED THIS EFFORT BY CONSTRUCTING A NEW BUILDING AND LEASING OFFICE SPACE TO THIS NEW BUSINESS. IN ADDITION, A PORTION OF THE BUILDING WAS REMODELED FOR THE PURPOSE OF ESTABLISHING A CHILD CARE CENTER SO THAT EMPLOYEES ATTRACTED BY THE NEW JOBS WOULD HAVE CHILD DAY CARE SERVICES AVAILABLE AS WELL. THE FOUNDATION CONTINUES LOOKING FOR OPPORTUNITIES FOR NEW BUSINESS TO COME TO THE COMMUNITY. REAL ESTATE THAT IS OWNED IS FOR SALE OR CAN BE REMODELED TO SUIT THE BUYER. IN ADDITION, THE FOUNDATION CONTINUES TO SUPPORT THE CHILD CARE CENTER WHICH PROVIDES NECESSARY DAY CARE SERVICES FOR EMPLOYEES OF NEW BUSINESSES. AN ADDED SUBSIDIARY BENEFIT OF THE CHILD CARE CENTER IS THE ADDITIONAL JOBS IT HAS PROVIDED TO PEOPLE IN THE COMMUNITY.
THE FOUNDATION MAINTAINS A CHILD CARE CENTER TO PROVIDE DAY CARE FACILITIES TO NEW AND EXISTING INDIVIDUALS THAT BECOME EMPLOYED AND NEED THESE CHILD CARE SERVICES WITHIN THE COMMUNITY. THE FOUNDATION HAS REMODELING ITS CHILD CARE CENTER TO INCREASE THE CARE SPACE FOR SCHOOL AGE CHILDREN. IT WILL GREATLY ENHANCE ITS ABILITY TO PROVIDE FOR THAT NEED AFTER SCHOOL AND ON SCHOOL VACATION DAYS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Boyle Director/vic | OfficerTrustee | $0 | |
Brad Vollstedt Director/vic | OfficerTrustee | $0 | |
Dawn Lorenzen Dir./ass't S | OfficerTrustee | $0 | |
Gregory Sextro Director/sec | OfficerTrustee | $0 | |
Joseph Maas Director/pre | OfficerTrustee | $0 | |
Aaron Stangl Director/tre | OfficerTrustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $118,047 |
| All other contributions, gifts, grants, and similar amounts not included above | $54,448 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $172,495 |
| Total Program Service Revenue | $511,050 |
| Investment income | $2,196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,125 |
| 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 | $686,866 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $398,498 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $30,488 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,188 |
| Fees for services: Accounting | $110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $744 |
| Office expenses | $1,359 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $4,412 |
| Travel | $309 |
| 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 | $34,523 |
| Insurance | $10,176 |
| All other expenses | $8,755 |
| Total functional expenses | $568,179 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,815 |
| Savings and temporary cash investments | $232,243 |
| 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 | $69,204 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $940,171 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,249,433 |
| 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 | $60,048 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $20,668 |
| Total liabilities | $80,716 |
| Net assets without donor restrictions | $1,122,482 |
| Net assets with donor restrictions | $46,235 |
| 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 | $1,249,433 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Manning Betterment Foundation has recieved totaling $44,582.
| Awarding Organization | Amount |
|---|---|
Warren H Timmerman Charitable Trust Manning, IA PURPOSE: CHILD CARE EQUIPMENT | $23,482 |
Community Foundation Of Carroll County Carroll, IA PURPOSE: flooring, tables, chairs, for dayc | $16,300 |
Warren H Timmerman Charitable Trust Manning, IA PURPOSE: MUSIC SYSTEM | $4,800 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Metropolitan Entertainment & Omaha, NE | $158,635,208 | $95,451,675 |
Chicago Convention & Tourism Bureau Inc Chicago, IL | $13,640,210 | $19,015,508 |
Financial Health Network Inc Chicago, IL | $19,686,455 | $18,603,239 |
Southern Minnesota Initiative Foundation Owatonna, MN | $74,043,196 | $20,001,758 |
Vocational Development Center Inc Council Bluffs, IA | $12,984,673 | $16,204,305 |
Southern Iowa Economic Development Association Ottumwa, IA | $4,848,905 | $15,262,424 |
St Louis Economic Development Partnership Saint Louis, MO | $27,235,860 | $13,883,018 |
Crosswalk Community Action Agency Inc West Frankfort, IL | $2,780,027 | $11,762,821 |
Wisconsin Dells Visitor & Convention Bureau Wisconsin Dells, WI | $26,952,168 | $17,110,395 |
Convention & Visitors Bureau Of Greater Kansas City Kansas City, MO | $12,878,337 | $11,432,355 |
Wbd Inc Madison, WI | $14,868,892 | $9,399,155 |
Metropolitan Economic Development Association Minneapolis, MN | $45,113,584 | $12,064,856 |