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Nonprofit · EIN 31-1206651

MISS MADISON INCORPORATED

Tax-exempt · MADISON, IN 47250

Financials

$1M$1.1M2023$1.7M$959K2024
Revenue Expenses · by fiscal year end
Financials of MISS MADISON INCORPORATED by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$1,744,143$958,790$785,353$1,348,954$12,470$1,336,484
December 31, 2023990$1,032,478$1,077,926-$45,448$505,494$272,058$233,436
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$116,000
Program service revenue
$472,466
Investment income
$1,129,243
Net gain from sales of assets
$1,129,243
Net income from sales of inventory
$10,943
Other revenue
$26,434

Expenses

Grants and similar amounts paid
$0
Other salaries and wages
$206,745
Salaries, compensation and benefits (total)
$224,017
Professional fundraising fees
$0
Accounting fees
$1,050
Occupancy
$182,929
Travel
$36,261
Depreciation
$71,660
Program services (functional)
$917,090
Management and general (functional)
$41,700

Balance sheet and other

Total assets, start of year
$505,494
Total assets, end of year
$1,348,954
Total liabilities, end of year
$12,470
Net assets, end of year
$1,336,484
Land, buildings and equipment
$4,698
Gross receipts
$2,138,593
Employees
5
Year formed
1951
State of legal domicile
IN

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, 2024, highest compensation first.

NameTitleHours / weekCompensation
KYLE BIPESCHAIRMAN
Trustee or director, Officer
5$0
TONY STEINHARDTDIRECTOR
Trustee or director
1$0
TIM BIPESTREASURER
Trustee or director, Officer
2$0
ANDREW FORRESTERDIRECTOR
Trustee or director
1$0
MAYOR BOB COURTNEYSECRETARY
Trustee or director, Officer
2$0
990 for the year ended December 31, 2023: 6 people
NameTitleHours / weekCompensation
DANNY JACKSONDIRECTOR
Trustee or director
2$0
JOHN KNOEBELDIRECTOR
Trustee or director
2$0
JEFF KERNENDIRECTOR
Trustee or director
2$0
ROBERT KIRKPATRICKDIRECTOR
Trustee or director
2$0
DAVE TAYLORSECTREAS
Trustee or director, Officer
2$0
CHARLES GROOMSPRESIDENT
Trustee or director, Officer
10$0

Address and contacts

Address (IRS master file)
PO BOX 3, MADISON, IN 47250-0003
In care of
% TIM BIPES
Principal officer (990 for 2024)
KYLE BIPES, PO BOX 3, MADISON, IN 47250
Signed the 990
TIM BIPES, PRESIDENT
Return prepared by
Scott and Callicotte LLC

Mission

PROVIDE PUBLICITY AND PROMOTION FOR THE CITY OF MADISON, INDIANA BY PARTICIPATING IN UNLIMITED HYDROPLANE RACING.

990 for the year ended December 31, 2024

Program accomplishments

  • PROVIDE PUBLICITY AND PROMOTION FOR THE CITY OF MADISON, INDIANA BY PARTICIPATING IN UNLIMITED HYDROPLANE RACES.
    Expenses $917,090 · revenue $472,466

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 yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
31-1206651
Tax-exempt status
501(c)(4): Social welfare organization
Donations deductible
No
Exempt since
1987
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$1,348,954
Income (IRS master file)
$2,138,593

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$1,744,143$958,790$1,348,954XML
990December 2023$1,032,478$1,077,926$505,494XML
990December 2022$936,863$986,999$524,274IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS
990December 2017–––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 31-1206651).

Questions about MISS MADISON INCORPORATED

What is the EIN of MISS MADISON INCORPORATED?
The employer identification number (EIN) of MISS MADISON INCORPORATED is 31-1206651.
Is MISS MADISON INCORPORATED tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1987.
Are donations to MISS MADISON INCORPORATED tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does MISS MADISON INCORPORATED 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 MISS MADISON INCORPORATED due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did MISS MADISON INCORPORATED last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of MISS MADISON INCORPORATED?
The 990 for the year ended December 31, 2024 names KYLE BIPES.
Who are the officers and directors of MISS MADISON INCORPORATED?
The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
How much revenue does MISS MADISON INCORPORATED have?
On its 990 for the year ended December 31, 2024 it reported revenue of $1,744,143, expenses of $958,790 and total assets of $1,348,954 at year end.

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