Nonprofit · EIN 42-1114803
BLACK HAWK ECONOMIC DEVELOPMENT INC
Tax-exempt · WATERLOO, IA 50702
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $2,659,654 | $1,390,136 | $1,269,518 | $20,865,734 | $274,409 | $20,591,325 |
| September 30, 2024 | 990 | $2,228,187 | $1,178,322 | $1,049,865 | $19,642,559 | $320,752 | $19,321,807 |
| September 30, 2023 | 990 | $3,671,236 | $943,431 | $2,727,805 | $18,776,069 | $375,108 | $18,400,961 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,853,975
- Investment income
- $712,417
- Net rental income
- $38,550
- Other revenue
- $93,262
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $269,502
- Other salaries and wages
- $570,472
- Salaries, compensation and benefits (total)
- $1,073,226
- Professional fundraising fees
- $0
- Legal fees
- $7,708
- Accounting fees
- $28,000
- Occupancy
- $57,619
- Travel
- $25,868
- Depreciation
- $13,417
- Program services (functional)
- $1,103,350
- Management and general (functional)
- $286,786
Balance sheet and other
- Total assets, start of year
- $19,642,559
- Total assets, end of year
- $20,865,734
- Total liabilities, end of year
- $274,409
- Net assets, end of year
- $20,591,325
- Land, buildings and equipment
- $163,976
- Net assets without donor restrictions
- $20,591,325
- Gross receipts
- $2,659,654
- Employees
- 8
- Volunteers
- 10
- Year formed
- 1978
- 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 | Other / benefits |
|---|---|---|---|---|
| BRUSTKERN STEVE | PAST EXECUTIVE DIRECTOR Officer | 40 | $251,599 | $16,184 |
| KOENEN STEPHANIE | EXECUTIVE DIRECTOR Officer | 40 | $109,841 | $7,873 |
| LESYSHAN LUCAS | PRESIDENT Trustee or director, Officer | 7 | $0 | $0 |
| DLOUHY NATALIE | SECRETARY/TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| QUIRK BRIAN | VICE PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| CLAYBERG NATE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| COULTER ERIC | DIRECTOR Trustee or director | 2 | $0 | $0 |
| HEATH LEXIE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JAHNKE CAROL | DIRECTOR Trustee or director | 2 | $0 | $0 |
| BEARBOWER ERIC | DIRECTOR Trustee or director | 2 | $0 | $0 |
| THOMPSON TONY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| YOUNG RESHONDA | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended September 30, 2024: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRUSTKERN STEVE | PAST EXECUTIVE DIRECTOR Officer | 40 | $247,559 | $15,382 |
| KOENEN STEPHANIE | EXECUTIVE DIRECTOR Officer | 40 | $99,880 | $6,125 |
| LESYSHAN LUCAS | PRESIDENT Trustee or director, Officer | 7 | $0 | $0 |
| DLOUHY NATALIE | SECRETARY/TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| QUIRK BRIAN | VICE PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| CLAYBERG NATE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| COULTER ERIC | DIRECTOR Trustee or director | 2 | $0 | $0 |
| HEATH LEXIE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JAHNKE CAROL | DIRECTOR Trustee or director | 2 | $0 | $0 |
| BEARBOWER ERIC | DIRECTOR Trustee or director | 2 | $0 | $0 |
| THOMPSON TONY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| YOUNG RESHONDA | DIRECTOR Trustee or director | 2 | $0 | $0 |
990 for the year ended September 30, 2023: 11 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| BRUSTKERN STEVE | EXECUTIVE DIRECTOR Officer | 40 | $236,139 | $14,583 |
| LESYSHAN LUCAS | PRESIDENT Trustee or director, Officer | 7 | $0 | $0 |
| DLOUHY NATALIE | SECRETARY/TREASURER Trustee or director, Officer | 2 | $0 | $0 |
| QUIRK BRIAN | VICE PRESIDENT Trustee or director, Officer | 5 | $0 | $0 |
| CLAYBERG NATE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| COULTER ERIC | DIRECTOR Trustee or director | 2 | $0 | $0 |
| HEATH LEXIE | DIRECTOR Trustee or director | 2 | $0 | $0 |
| JAHNKE CAROL | DIRECTOR Trustee or director | 2 | $0 | $0 |
| KROGH BOB | DIRECTOR Trustee or director | 2 | $0 | $0 |
| THOMPSON TONY | DIRECTOR Trustee or director | 2 | $0 | $0 |
| YOUNG RESHONDA | DIRECTOR Trustee or director | 2 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 1001 PEOPLES SQ, WATERLOO, IA 50702-5740
- Principal officer (990 for 2024)
- LUCAS LESYSHEN, 1001 PEOPLES SQUARE, WATERLOO, IA 50702
- Signed the 990
- LUCAS LESYSHEN, PRESIDENT
- Phone
- (319) 235-2960
- Website
- WWW.BHED.ORG
- Return prepared by
- CLIFTONLARSONALLEN LLP
Mission
TO ACTIVELY ENGAGE IN SUSTAINABLE ECONOMIC AND COMMUNITY DEVELOPMENT ACTIVITIES FOR THE BENEFIT OF ALL CONSTITUENTS THROUGH VARIOUS FINANCIAL AND OTHER ASSISTANCE PROGRAMS PRINCIPALLY TARGETED TO LOW-INCOME COMMUNITIES AND LOW-INCOME PERSONS, AND AT LEAST 60% OF ACTIVITIES TARGETED TO LOW-INCOME COMMUNITIES OR FOR LOW-INCOME PERSONS
Program accomplishments
- ADMINISTRATION OF ECONOMIC DEVELOPMENT LOAN PROGRAMS AND TECHNICAL ASSISTANCE TO BUSINESSES.Expenses $1,103,350 · revenue $1,892,525
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 15, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 16, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 17, 2025 | 990 on file |
IRS record
- EIN
- 42-1114803
- Tax-exempt status
- 501(c)(4): Social welfare organization
- Donations deductible
- No
- Exempt since
- 1979
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $20,865,734
- Income (IRS master file)
- $2,659,654
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $2,659,654 | $1,390,136 | $20,865,734 | XML |
| 990 | September 2024 | $2,228,187 | $1,178,322 | $19,642,559 | XML |
| 990 | September 2023 | $3,671,236 | $943,431 | $18,776,069 | XML |
| 990 | September 2022 | $4,463,210 | $1,145,873 | $15,953,827 | IRS |
| 990 | September 2021 | – | – | – | 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 42-1114803).
Questions about BLACK HAWK ECONOMIC DEVELOPMENT INC
- What is the EIN of BLACK HAWK ECONOMIC DEVELOPMENT INC?
- The employer identification number (EIN) of BLACK HAWK ECONOMIC DEVELOPMENT INC is 42-1114803.
- Is BLACK HAWK ECONOMIC DEVELOPMENT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(4) since 1979.
- Are donations to BLACK HAWK ECONOMIC DEVELOPMENT INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does BLACK HAWK ECONOMIC DEVELOPMENT 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 BLACK HAWK ECONOMIC DEVELOPMENT INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BLACK HAWK ECONOMIC DEVELOPMENT INC 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 BLACK HAWK ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended September 30, 2025 names LUCAS LESYSHEN.
- Who are the officers and directors of BLACK HAWK ECONOMIC DEVELOPMENT INC?
- The 990 for the year ended September 30, 2025 lists 12 people; 2 received compensation from the organization, the highest $251,599 (BRUSTKERN STEVE, PAST EXECUTIVE DIRECTOR).
- How much revenue does BLACK HAWK ECONOMIC DEVELOPMENT INC have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $2,659,654, expenses of $1,390,136 and total assets of $20,865,734 at year end.
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