Nonprofit · EIN 27-1024697
LYON COUNTY RIVERBOAT FOUNDATION INC
Tax-exempt · ROCK RAPIDS, IA 51246
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $3,369,079 | $4,268,748 | -$899,669 | $2,155,178 | $1,594,880 | $560,298 |
| December 31, 2024 | 990 | $3,596,972 | $3,491,635 | $105,337 | $2,824,558 | $1,364,591 | $1,459,967 |
| December 31, 2023 | 990 | $3,692,299 | $3,589,578 | $102,721 | $2,788,927 | $1,434,297 | $1,354,630 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,293,234
- Investment income
- $75,845
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $4,140,148
- Compensation of officers, directors and key employees
- $0
- Other salaries and wages
- $44,577
- Salaries, compensation and benefits (total)
- $48,008
- Professional fundraising fees
- $0
- Legal fees
- $275
- Accounting fees
- $11,109
- Occupancy
- $8,220
- Travel
- $5,449
- Depreciation
- $9,568
- Program services (functional)
- $4,224,686
- Management and general (functional)
- $44,062
Balance sheet and other
- Total assets, start of year
- $2,824,558
- Total assets, end of year
- $2,155,178
- Total liabilities, end of year
- $1,594,880
- Net assets, end of year
- $560,298
- Land, buildings and equipment
- $13,163
- Net assets without donor restrictions
- $560,298
- Gross receipts
- $3,369,079
- Employees
- 1
- Year formed
- 2008
- 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 |
|---|---|---|---|
| TOM VERSTEEG | BOARD MEMBER Trustee or director | 1 | $0 |
| AUSTIN KANNEGIETER | BOARD MEMBER Trustee or director | 1 | $0 |
| RICK BOS | BOARD MEMBER Trustee or director | 1 | $0 |
| DENNIS HASELHOFF | BOARD MEMBER Trustee or director | 1 | $0 |
| LAUREL REINKE | BOARD MEMBER Trustee or director | 1 | $0 |
| AMY STONER | BOARD MEMBER Trustee or director | 1 | $0 |
| SAMANTHA ROZEBOOM | BOARD MEMBER Trustee or director | 1 | $0 |
| SHAYLYN DOORNEWEERD | Secretary Trustee or director, Officer | 1 | $0 |
| BRIENNA BRUGGEMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| SARA SPROCK | Treasurer Trustee or director, Officer | 1 | $0 |
| RANDY WAAGMEESTER | President Trustee or director, Officer | 2 | $0 |
| ASHLEY ANDERSEN | BOARD MEMBER Trustee or director | 1 | $0 |
| AARON KELDERMAN | Vice President Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2024: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TOM VERSTEEG | BOARD MEMBER Trustee or director | 1 | $0 |
| JOE SCHILLING | BOARD MEMBER Trustee or director | 1 | $0 |
| RICK BOS | BOARD MEMBER Trustee or director | 1 | $0 |
| DENNIS HASELHOFF | BOARD MEMBER Trustee or director | 1 | $0 |
| LAUREL REINKE | BOARD MEMBER Trustee or director | 1 | $0 |
| FRED LANDIS | BOARD MEMBER Trustee or director | 1 | $0 |
| SAMANTHA ROZEBOOM | BOARD MEMBER Trustee or director | 1 | $0 |
| SHAYLYN DOORNEWEERD | Secretary Trustee or director, Officer | 1 | $0 |
| BRIENNA BRUGGEMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| SARA SPROCK | Treasurer Trustee or director, Officer | 1 | $0 |
| RANDY WAAGMEESTER | President Trustee or director, Officer | 2 | $0 |
| ASHLEY TEUNISSEN | BOARD MEMBER Trustee or director | 1 | $0 |
| AARON KELDERMAN | Vice President Trustee or director, Officer | 1 | $0 |
990 for the year ended December 31, 2023: 13 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TOM VERSTEEG | BOARD MEMBER Trustee or director | 1 | $0 |
| JOE SCHILLING | BOARD MEMBER Trustee or director | 1 | $0 |
| SCOTT KRUSE | BOARD MEMBER Trustee or director | 1 | $0 |
| DENNIS HASELHOFF | BOARD MEMBER Trustee or director | 1 | $0 |
| CAROL VANDER KOLK | BOARD MEMBER Trustee or director | 1 | $0 |
| FRED LANDIS | BOARD MEMBER Trustee or director | 1 | $0 |
| CYNTHIA HAUGLAND | BOARD MEMBER Trustee or director | 1 | $0 |
| SHAYLYN DOORNEWEERD | Secretary Trustee or director, Officer | 1 | $0 |
| BRIENNA BRUGGEMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| SARA SPROCK | Treasurer Trustee or director, Officer | 1 | $0 |
| RANDY WAAGMEESTER | President Trustee or director, Officer | 2 | $0 |
| ASHLEY TEUNISSEN | BOARD MEMBER Trustee or director | 1 | $0 |
| AARON KELDERMAN | Vice President Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 301 1ST AVE, ROCK RAPIDS, IA 51246-1505
- Mailing address (990-N for 2010)
- PO Box 53, Larchwood IA 51241
- Principal officer (990-N for 2010)
- Jeff Gallagher, PO Box 53, Larchwood IA 51241
- Signed the 990
- RANDY WAAGMEESTER, President
- Phone
- (712) 472-0111
- Return prepared by
- DE NOBLE AUSTIN & COMPANY PC
Mission
TO DISTRIBUTE FUNDS RECEIVED FROM THE GRAND FALLS CASINO & RESORT TO QUALIFIED NON-PROFIT ORGANIZATIONS INCLUDING COUNTY, MUNICIPALITIES AND SCHOOL DISTRICTS IN ACCORDANCE WITH IOWA CODE.
Program accomplishments
- THE FOUNDATION DISTRIBUTES 50% OF ITS ANNUAL NET RECEIPTS TO THE INCORPORATED MUNICIPAL CITIES, COUNTY GOVERNMENT, AND SCHOOL DISTRICTS DISTRICTS IN LYON COUNTY.Expenses $4,224,686 · grants $4,140,148
- THE FOUNDATION DISTRIBUTES 50% OF ITS NET ANNUAL NET RECEIPTS IN THE FORM OF GRANTS AND SCHOLARSHIPS TO QUALIFIED NON-PROFIT ORGAINIZATIONS. THESE COMPETTITIVE GRANTS ARE AWARDED ON AN APPLICATION PROCESS.
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
- 27-1024697
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible (Pub 78)
- Organization other than a public charity or private foundation
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T30)
- Assets (IRS master file)
- $2,155,178
- Income (IRS master file)
- $3,369,079
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $3,369,079 | $4,268,748 | $2,155,178 | IRS |
| 990 | December 2024 | $3,596,972 | $3,491,635 | $2,824,558 | IRS |
| 990 | December 2023 | $3,692,299 | $3,589,578 | $2,788,927 | XML |
| 990 | December 2022 | $3,510,157 | $3,489,709 | $2,314,021 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2010 Officer: Jeff Gallagher | December 31, 2010 | ≤ $50,000 receipts | – | – | e-Postcard |
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 27-1024697).
Questions about LYON COUNTY RIVERBOAT FOUNDATION INC
- What is the EIN of LYON COUNTY RIVERBOAT FOUNDATION INC?
- The employer identification number (EIN) of LYON COUNTY RIVERBOAT FOUNDATION INC is 27-1024697.
- Is LYON COUNTY RIVERBOAT FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 2010.
- Are donations to LYON COUNTY RIVERBOAT FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Organization other than a public charity or private foundation).
- Which annual return does LYON COUNTY RIVERBOAT FOUNDATION INC 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 LYON COUNTY RIVERBOAT FOUNDATION INC 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 LYON COUNTY RIVERBOAT FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of LYON COUNTY RIVERBOAT FOUNDATION INC?
- The 990-N for 2010 names Jeff Gallagher.
- Who are the officers and directors of LYON COUNTY RIVERBOAT FOUNDATION INC?
- The 990 for the year ended December 31, 2025 lists 13 people; 0 received compensation from the organization.
- How much revenue does LYON COUNTY RIVERBOAT FOUNDATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $3,369,079, expenses of $4,268,748 and total assets of $2,155,178 at year end.
Other nonprofits in ROCK RAPIDS
- STEWART FAMILY FOUNDATION EIN 42-1481225 · last filed 990-PF for 2025
- LYON COUNTY PLANNING COUNCIL EIN 20-0973539 · last filed 990-N for 2025
- L & O POWER COOPERATIVE EIN 42-0721692 · last filed 990 for 2024
- LYON RURAL ELECTRIC COOPERATIVE EIN 42-0389015 · last filed 990 for 2025
- LYON AND SIOUX RURAL WATER SYSTEM INC EIN 42-0958917 · last filed 990 for 2025
- MERRILL PIONEER COMMUNITY HOSPITAL EIN 42-0805543 · last filed 990 for 2025
- ROCK RAPIDS KIDS CLUB INC EIN 20-5156803 · last filed 990 for 2025
- LYON COUNTY FAIR ASSOCIATION EIN 42-1087882 · last filed 990 for 2025
All nonprofits in ROCK RAPIDS · Iowa · Philanthropy, voluntarism and grantmaking foundations