Nonprofit · EIN 37-1524573
PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP
Tax-exempt · ALGONA, IA 50511
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $180,276 | $167,638 | $12,638 | $423,056 | $0 | $423,056 |
| June 30, 2024 | 990 | $190,429 | $174,590 | $15,839 | $410,418 | $0 | $410,418 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $172,844
- of which government grants
- $100,000
- Membership dues
- $30,432
- Program service revenue
- $0
- Investment income
- $7,432
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $56,454
- Other salaries and wages
- $47,752
- Salaries, compensation and benefits (total)
- $117,185
- Professional fundraising fees
- $0
- Accounting fees
- $1,515
- Occupancy
- $13,899
- Travel
- $3,072
- Program services (functional)
- $72,554
- Management and general (functional)
- $95,084
Balance sheet and other
- Total assets, start of year
- $410,418
- Total assets, end of year
- $423,056
- Total liabilities, end of year
- $0
- Net assets, end of year
- $423,056
- Gross receipts
- $180,276
- Employees
- 0
- Volunteers
- 2
- Year formed
- 2006
- 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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LARRY AKRIDGE | DIRECTOR Trustee or director | 0.25 | $0 |
| RICK BRENNAN | PAST PRESIDE Trustee or director, Officer | 0.25 | $0 |
| TONY BRUGMAN | PRESIDENT Trustee or director, Officer | 0.25 | $0 |
| IVAN DALEN | DIRECTOR Trustee or director | 0.25 | $0 |
| BETH ELMAN | DIRECTOR Trustee or director | 0.25 | $0 |
| ROGER FAULSTICK | DIRECTOR Trustee or director | 0.25 | $0 |
| KIM KIBBIE | SECRETARY Trustee or director, Officer | 0.25 | $0 |
| BRIAN MALM | DIRECTOR Trustee or director | 0.25 | $0 |
| CRAIG MERRILL | DIRECTOR Trustee or director | 0.25 | $0 |
| JONATHAN MOE | VICE PRESIDE Trustee or director, Officer | 0.25 | $0 |
| KEVIN SCHUMACHER | DIRECTOR Trustee or director | 0.25 | $0 |
| SCOTT STOKES | TREASURER Trustee or director | 0.25 | $0 |
| LINDA THILGES | DIRECTOR Trustee or director | 0.25 | $0 |
990 for the year ended June 30, 2024: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| LARRY AKRIDGE | DIRECTOR Trustee or director | 0.25 | $0 |
| RICK BRENNAN | PAST PRESIDE Trustee or director, Officer | 0.25 | $0 |
| TONY BRUGMAN | PRESIDENT Trustee or director, Officer | 0.25 | $0 |
| BETH ELMAN | DIRECTOR Trustee or director | 0.25 | $0 |
| ROGER FAULSTICK | DIRECTOR Trustee or director | 0.25 | $0 |
| KIM KIBBIE | SECRETARY Trustee or director, Officer | 0.25 | $0 |
| BRIAN MALM | DIRECTOR Trustee or director | 0.25 | $0 |
| CRAIG MERRILL | DIRECTOR Trustee or director | 0.25 | $0 |
| JONATHAN MOE | VICE PRESIDE Trustee or director, Officer | 0.25 | $0 |
| KEVIN SCHUMACHER | DIRECTOR Trustee or director | 0.25 | $0 |
| SCOTT STOKES | TREASURER Trustee or director | 0.25 | $0 |
| LINDA THILGES | DIRECTOR Trustee or director | 0.25 | $0 |
Address and contacts
- Address (IRS master file)
- 106 S DODGE ST STE 210, ALGONA, IA 50511-2666
- In care of
- % MAUREEN ELBERT
- Principal officer (990 for 2024)
- TONY BRUGMAN, 2407 MAIN STREET, EMMETSBURG, IA 50536
- Signed the 990
- TOD FARIS, EXECUTIVE DIREC
- Phone
- (515) 295-7979
- Website
- WWW.PALOALTOIOWA.COM
- Return prepared by
- ERPELDING VOIGT & CO LLP
Mission
THE PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORPORATION WILL SERVE AS A FACILITATOR OF ECONOMIC DEVELOPMENT BY ENCOURAGING AND PROMOTING GROWTH IN THE AREAS OF EXISTING BUSINESSES/EXPANSION, JOB RETENTION, MARKETING, TOURISM, AND TO PROVIDE LEADERSHIP TO HELP IMPROVE THE QUALITY OF LIFE FOR ALL RESIDENTS IN PALO ALTO COUNTY.
Program accomplishments
- CONTINUE TO REMOVE OBSTACLES AND OFFER ASSISTANCE PROGRAMS TO BUSINESSES AND COMMUNITIES IN PALO ALTO COUNTY THAT FOSTER JOB CREATION AND LOCAL INVESTMENT.Expenses $69,554
- CONTINUE TO FUND AND PROVIDE LOANS TO BUSINESSES AND INDUSTRIES THROUGH THE PALO ALTO COUNTY REVOLVING LOAN FUND. THIS FUND PROVIDES A SOURCE OF FINANCING, WHICH MAY NOT OTHERWISE BE AVAILABLE WITHIN THE COUNTY FOR LOCAL EXPANDING OR START-UP BUSINESSES.Expenses $3,000
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 37-1524573
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2007
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S20)
- Assets (IRS master file)
- $423,056
- Income (IRS master file)
- $180,276
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $180,276 | $167,638 | $423,056 | XML |
| 990 | June 2024 | $190,429 | $174,590 | $410,418 | XML |
| 990 | June 2023 | $194,410 | $180,123 | $394,579 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | 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 37-1524573).
Questions about PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP
- What is the EIN of PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP?
- The employer identification number (EIN) of PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP is 37-1524573.
- Is PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2007.
- Are donations to PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP 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 PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who is the principal officer of PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended June 30, 2025 names TONY BRUGMAN.
- Who are the officers and directors of PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP?
- The 990 for the year ended June 30, 2025 lists 13 people; 0 received compensation from the organization.
- How much revenue does PALO ALTO COUNTY ECONOMIC DEVELOPMENT CORP have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $180,276, expenses of $167,638 and total assets of $423,056 at year end.
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