Nonprofit · EIN 42-1468316
BANCROFT COMMUNITY FOUNDATION INC
Tax-exempt · ALGONA, IA 50511
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $282,460 | $31,684 | $250,776 | $3,696,591 | $138,974 | $3,557,617 |
| June 30, 2024 | 990 | $210,218 | $100,877 | $109,341 | $3,466,841 | $160,000 | $3,306,841 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $256,654
- Program service revenue
- $0
- Investment income
- $90,998
- Net rental income
- -$65,192
- Net gain from sales of assets
- $9,309
- Other revenue
- -$65,192
Expenses
- Grants and similar amounts paid
- $1,600
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Program services (functional)
- $1,600
- Management and general (functional)
- $29,354
- Fundraising (functional)
- $730
Balance sheet and other
- Total assets, start of year
- $3,466,841
- Total assets, end of year
- $3,696,591
- Total liabilities, end of year
- $138,974
- Net assets, end of year
- $3,557,617
- Land, buildings and equipment
- $2,867,286
- Gross receipts
- $599,563
- Employees
- 0
- 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 |
|---|---|---|---|
| SANDY TIGGES | Director Trustee or director | 1 | $0 |
| JANICE DIETERING | Director Trustee or director | 1 | $0 |
| KEN LAUBENTHAL | Director Trustee or director | 1 | $0 |
| ELLENGRAY G KENNEDY | President Officer | 5 | $0 |
| RENEE FUNKE | Secretary Officer | 1 | $0 |
| GREG PENNING | Treasurer Officer | 5 | $0 |
990 for the year ended June 30, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| SANDY TIGGES | Director Trustee or director | 1 | $0 |
| JANICE DIETERING | Director Trustee or director | 1 | $0 |
| KEN LAUBENTHAL | Director Trustee or director | 1 | $0 |
| ELLENGRAY G KENNEDY | President Officer | 5 | $0 |
| RENEE FUNKE | Secretary Officer | 1 | $0 |
| GREG PENNING | Treasurer Officer | 5 | $0 |
Address and contacts
- Address (IRS master file)
- 111 N DODGE ST, ALGONA, IA 50511-2637
- In care of
- % BCF INC TREASURER
- Signed the 990
- GREG PENNING, Treasurer
- Phone
- (515) 295-3565
- Return prepared by
- Buchanan Bibler Gabor Meis
Mission
THE FOUNDATION WAS CREATED TO RAISE FUNDS AND DISTRIBUTE GRANTS FOR CIVIC BETTERMENT PROJECTS IN THE CITY OF BANCROFT, IOWA, WHICH COULD NOT OTHERWISE BE FUNDED BY TAX DOLLARS DUE TO BUDGET CONSTRAINTS.
Program accomplishments
- THE FOUNDATION MADE GRANTS TO SUPPORT BANCROFT PUBLIC LIBRARY ($800), BANCROFT CHAMBER OF COMMERCE ($800), TOTAL = $3,600. THOSE WERE ALL OF THE MONETARY GRANTS FOR THE FISCAL YEAR.THE FOUNDATION CONTINUED ITS LONG-TERM PROJECT TO PROVIDE A MEDICAL FACILITY TO THE COMMUNITY. IT ALSO PROCEEDED WITH A LONG TERM CIVIC IMPROVEMENT PROJECT OF RESTORATION OF A CITY BUILDING TO PROVIDE A NEEDED COMMUNITY BUSINESS OPPORTUNITY. MOST OF THE DONATIONS, RENT AND CAPITAL EXPENDITURES RELATED TO THESE PROJECTS, WHICH WERE NOT IN THE FORM OF DIRECT GRANTS. THE FOUNDATION BUILT AND OWNS THE MEDICAL CENTER, WHICH IS RENTED TO THE CITY AND THE AREA NONPROFIT HOSPITAL TO PROVIDE MEDICAL SERVICES TO RESIDENTS. RENTS RECEIVED FROM THOSE SOURCES ARE USED TO RETIRE CONSTRUCTION DEBT ON THE FACILITY AND TO PAY EXPENSES OF THE FACILITY.Expenses $1,600 · grants $1,600
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
- 42-1468316
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1998
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T31)
- Assets (IRS master file)
- $3,696,591
- Income (IRS master file)
- $599,563
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $282,460 | $31,684 | $3,696,591 | IRS |
| 990 | June 2024 | $210,218 | $100,877 | $3,466,841 | IRS |
| 990 | June 2023 | $152,486 | $35,313 | $3,377,500 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | 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 42-1468316).
Questions about BANCROFT COMMUNITY FOUNDATION INC
- What is the EIN of BANCROFT COMMUNITY FOUNDATION INC?
- The employer identification number (EIN) of BANCROFT COMMUNITY FOUNDATION INC is 42-1468316.
- Is BANCROFT COMMUNITY FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1998.
- Are donations to BANCROFT COMMUNITY FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BANCROFT COMMUNITY 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 BANCROFT COMMUNITY FOUNDATION INC 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 BANCROFT COMMUNITY FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who are the officers and directors of BANCROFT COMMUNITY FOUNDATION INC?
- The 990 for the year ended June 30, 2025 lists 6 people; 0 received compensation from the organization.
- How much revenue does BANCROFT COMMUNITY FOUNDATION INC have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $282,460, expenses of $31,684 and total assets of $3,696,591 at year end.
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