Nonprofit · EIN 26-1460205
ALTOONA ECONOMIC DEVELOPMENT CORPORATION
Tax-exempt · ALTOONA, IA 50009
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | -$769,790 | $115,690 | -$885,480 | $23,485,067 | $786,465 | $22,698,602 |
| September 30, 2024 | 990 | -$987,926 | $190,514 | -$1,178,440 | $24,370,720 | $786,638 | $23,584,082 |
| September 30, 2023 | 990 | -$642,447 | $219,516 | -$861,963 | $25,424,039 | $661,517 | $24,762,522 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $717,500
- Program service revenue
- $0
- Investment income
- $269
- Net rental income
- -$1,487,559
- Other revenue
- -$1,487,559
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $115,690
Balance sheet and other
- Total assets, start of year
- $24,370,720
- Total assets, end of year
- $23,485,067
- Total liabilities, end of year
- $786,465
- Net assets, end of year
- $22,698,602
- Land, buildings and equipment
- $23,104,966
- Net assets with donor restrictions
- $22,698,602
- Gross receipts
- $1,367,769
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2007
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DEAN O'CONNOR | PRESIDENT/VP Trustee or director, Officer | 1 | $0 |
| MARY SIMON | SECRETARY/TREAS Trustee or director, Officer | 1 | $0 |
| TIMOTHY FORBES | DIRECTOR Trustee or director | 1 | $0 |
| WARD SCHNIEDER | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended September 30, 2024: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DEAN O'CONNOR | PRESIDENT/VP Trustee or director, Officer | 1 | $0 |
| MARY SIMON | SECRETARY/TREAS Trustee or director, Officer | 1 | $0 |
| TIMOTHY FORBES | DIRECTOR Trustee or director | 1 | $0 |
| WARD SCHNIEDER | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended September 30, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DEAN O'CONNOR | Vice President Trustee or director, Officer | 0 | $0 |
| MARY SIMON | Secretary/Treas Trustee or director, Officer | 0 | $0 |
| ELAINE CASTELLINE | President Trustee or director, Officer | 0 | $0 |
| TIMOTHY FORBES | Director Trustee or director | 0 | $0 |
| WARD SCHNIEDER | Director Trustee or director | 0 | $0 |
| RANDY PIERCE | Director Trustee or director | 0 | $0 |
Address and contacts
- Address (IRS master file)
- 900 VENBURY DR STE A, ALTOONA, IA 50009-2672
- Principal officer (990 for 2024)
- DEAN O'CONNOR, 900 VENBURY DR STE A, ALTOONA, IA 50009
- Signed the 990
- DEAN O'CONNOR, PRESIDENT/VP
- Phone
- (515) 967-5136
- Return prepared by
- WELGAARD CPAS & ADVISORS
Mission
PROMOTE ECONOMIC DEVELOPMENT/CHARITABLE/EDUCATIONAL PURPOSES.
Program accomplishments
- PROMOTING ECONOMIC DEVELOPMENT THROUGH DEVELOPMENT OF FACILITIES FOR RETAIL DEVELOPMENT IN THE CITY OF ALTOONA, IOWA TO PROMOTE THE ECONOMIC WELL-BEING OF THE CITY. DEVELOPED, BUILT, AND RENTED RETAIL SPACE TO BRING RETAIL DEVELOPMENT TO THE CITY WHICH IN TURN CREATED JOBS AND SALES TAX REVENUE.Expenses $115,690
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 26-1460205
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2010
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S30)
- Assets (IRS master file)
- $23,485,067
- Income (IRS master file)
- $1,367,769
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | -$769,790 | $115,690 | $23,485,067 | XML |
| 990 | September 2024 | -$987,926 | $190,514 | $24,370,720 | XML |
| 990 | September 2023 | -$642,447 | $219,516 | $25,424,039 | XML |
| 990 | September 2022 | – | – | – | IRS |
| 990 | September 2021 | – | – | – | IRS |
| 990 | September 2020 | – | – | – | IRS |
| 990 | September 2019 | – | – | – | IRS |
| 990 | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 26-1460205).
Questions about ALTOONA ECONOMIC DEVELOPMENT CORPORATION
- What is the EIN of ALTOONA ECONOMIC DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of ALTOONA ECONOMIC DEVELOPMENT CORPORATION is 26-1460205.
- Is ALTOONA ECONOMIC DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
- Are donations to ALTOONA ECONOMIC DEVELOPMENT CORPORATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does ALTOONA ECONOMIC DEVELOPMENT CORPORATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of ALTOONA ECONOMIC DEVELOPMENT CORPORATION due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ALTOONA ECONOMIC DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of ALTOONA ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended September 30, 2025 names DEAN O'CONNOR.
- Who are the officers and directors of ALTOONA ECONOMIC DEVELOPMENT CORPORATION?
- The 990 for the year ended September 30, 2025 lists 4 people; 0 received compensation from the organization.
- How much revenue does ALTOONA ECONOMIC DEVELOPMENT CORPORATION have?
- On its 990 for the year ended September 30, 2025 it reported revenue of -$769,790, expenses of $115,690 and total assets of $23,485,067 at year end.
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All nonprofits in ALTOONA · Iowa · Community improvement and capacity building