Nonprofit · EIN 26-2000451
IOWA DEVELOPMENT CORPORATION
Tax-exempt · JOHNSTON, IA 50131
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $1,285,258 | $1,146,498 | $138,760 | $2,068,038 | $0 | $2,068,038 |
| December 31, 2024 | 990 | $875,043 | $848,103 | $26,940 | $1,925,001 | $0 | $1,925,001 |
| December 31, 2023 | 990 | $960,698 | $994,819 | -$34,121 | $1,898,196 | $0 | $1,898,196 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $1,285,258
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $1,146,498
Balance sheet and other
- Total assets, start of year
- $1,925,001
- Total assets, end of year
- $2,068,038
- Total liabilities, end of year
- $0
- Net assets, end of year
- $2,068,038
- Gross receipts
- $1,285,258
- Employees
- 0
- Volunteers
- 16
- Year formed
- 2003
- 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 December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DENNIS MURDOCK | President Trustee or director, Officer | 1 | $0 |
| JOHN LINCH | Director Trustee or director | 1 | $0 |
| JOHN SORENSEN | Treasurer Trustee or director, Officer | 1 | $0 |
| BRUCE TAMISIEA | Vice President Trustee or director, Officer | 1 | $0 |
| DANIEL T ROBESON | Executive Dir. Trustee or director, Officer | 1 | $0 |
| RAND FISHER | Secretary Trustee or director, Officer | 1 | $0 |
| JOHN RIGLER III | Director Trustee or director | 1 | $0 |
| ADAM GREGG | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DENNIS MURDOCK | President Trustee or director, Officer | 1 | $0 |
| JOHN LINCH | Director Trustee or director | 1 | $0 |
| JOHN SORENSEN | Treasurer Trustee or director, Officer | 1 | $0 |
| BRUCE TAMISIEA | Vice President Trustee or director, Officer | 1 | $0 |
| DANIEL T ROBESON | Executive Dir. Trustee or director, Officer | 1 | $0 |
| RAND FISHER | Secretary Trustee or director, Officer | 1 | $0 |
| JOHN RIGLER III | Director Trustee or director | 1 | $0 |
| ADAM GREGG | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DENNIS MURDOCK | President Trustee or director, Officer | 1 | $0 |
| JOHN LINCH | Director Trustee or director | 1 | $0 |
| JOHN SORENSEN | Treasurer Trustee or director, Officer | 1 | $0 |
| BRUCE TAMISIEA | Vice President Trustee or director, Officer | 1 | $0 |
| DANIEL T ROBESON | Executive Dir. Trustee or director, Officer | 1 | $0 |
| RAND FISHER | Secretary Trustee or director, Officer | 1 | $0 |
| JOHN RIGLER III | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 5409 NW 88TH ST STE 100, JOHNSTON, IA 50131-3177
- Signed the 990
- DANIEL T ROBESON, Executive Dir.
- Phone
- (515) 223-4511
- Return prepared by
- TARBELL & CO PLC
Mission
TO SERVE AS A MANAGING MEMBER OF A COMMUNITY DEVELOPMENT ENTITY ORGANIZED TO PROVIDE INVESTMENT CAPITAL TO LOW-INCOME COMMUNITIES OR LOW-INCOME PERSONS WITHIN THE STATE OF IOWA PURSUANT TO THE COMMUNITY RENEWAL TAX RELIEF ACT OF 2000.
Program accomplishments
- IOWA DEVELOPMENT CORPORATION (IDC) OWNS A 99% INTEREST IN IOWA COMMUNITY DEVELOPMENT, LC (ICD). ICD SERVES AS A MANAGING MEMBER OF SEVERAL COMMUNITY DEVELOPMENT ENTITIES. ICD RECEIVES COMPENSATION TO ALLOW FOR PAYMENTS OF LEGAL FEES AND THIRD PARTY OVERSIGHT OF THE ENTITY. ICD'S PURPOSE IS TO SECURE AND DISTRIBUTE ALLOCATIONS OF NEW MARKET TAX CREDITS FROM THE COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, DEPARTMENT OF TREASURY, AND, THEREBY, PROMOTE INVESTMENT INTO OPERATING BUSINESSES AND REAL ESTATE PROJECTS LOCATED IN LOW-INCOME COMMUNITIES. SINCE INCEPTION, $360 MILLION OF NEW MARKET TAX CREDIT ALLOCATIONS HAVE BEEN DEPLOYED IN LOW INCOME COMMUNITIES IN IOWA BY THE END OF 2025 FOR THE FOLLOWING PROJECTS. A LISTING OF PROJECTS TO DATE ARE SHOWN ON SCHEDULE O.Expenses $1,146,498
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 December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 26-2000451
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 2009
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $2,068,038
- Income (IRS master file)
- $1,285,258
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $1,285,258 | $1,146,498 | $2,068,038 | XML |
| 990 | December 2024 | $875,043 | $848,103 | $1,925,001 | XML |
| 990 | December 2023 | $960,698 | $994,819 | $1,898,196 | XML |
| 990 | December 2022 | $1,069,596 | $1,098,560 | $1,932,406 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 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 26-2000451).
Questions about IOWA DEVELOPMENT CORPORATION
- What is the EIN of IOWA DEVELOPMENT CORPORATION?
- The employer identification number (EIN) of IOWA DEVELOPMENT CORPORATION is 26-2000451.
- Is IOWA DEVELOPMENT CORPORATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 2009.
- Are donations to IOWA DEVELOPMENT CORPORATION tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does IOWA 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 IOWA DEVELOPMENT CORPORATION due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IOWA DEVELOPMENT CORPORATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who are the officers and directors of IOWA DEVELOPMENT CORPORATION?
- The 990 for the year ended December 31, 2025 lists 8 people; 0 received compensation from the organization.
- How much revenue does IOWA DEVELOPMENT CORPORATION have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $1,285,258, expenses of $1,146,498 and total assets of $2,068,038 at year end.
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- JOHNSTON CHAMBER OF COMMERCE EIN 52-1340409 · last filed 990 for 2024
- NEBRASKA IOWA KIWANIS DISTRICT FOUNDATION EIN 23-7080872 · last filed 990 for 2025
- IOWA ASSOCIATION OF CRIMINAL DEFENSE LAWYERS EIN 42-1391127 · last filed 990-N for 2025
- IOWA DIETITIANS IN HEALTH CARE COMMUNITIES EIN 82-3586814 · last filed 990-N for 2025
- SANTA PARTY DSM EIN 93-3468869 · last filed 990-N for 2023
- DELTA DENTAL OF IOWA EIN 42-0959302 · last filed 990 for 2024
All nonprofits in JOHNSTON · Iowa · Community improvement and capacity building