Menlo Development Corporation
- Assets
- $49.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Algona, IA
- Founding
- 09/1974
- Data as of
- 12/2023
- EIN
- 23-7391179
Organization Overview
Menlo Development Corporation is located in Algona, IA. The organization was established in 1974. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Menlo Development Corporation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Menlo Development Corporation generated $70.1k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 58.4% each year .
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
TO PROVIDE LOW RENT HOUSING FOR THE ELDERLY, DISABLED, AND FAMILIES. RENT IS BASED ON 30% OF THE APPLICANT'S YEARLY INCOME WITH THE REMAINDER SUBSIDIZED BY USDA/RURAL DEVELOPMENT. THIS ORGANIZATION MADE IT POSSIBLE FOR 13 FAMILIES TO FIND SAFE AND AFFORDABLE HOUSING IN MENLO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Whetstone President | 0 | $0 | |
Keryl Grasty Vice President | 0 | $0 | |
Denise Miller Secretary/treasurer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $68,418 |
| Membership dues | $0 |
| Investment income | $157 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $1,504 |
| Total Revenue | $70,079 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $8,969 |
| Occupancy, rent, utilities, and maintenance | $50,988 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $12,377 |
| Total expenses | $72,334 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $49,728 |
| Other assets | $0 |
| Total assets | $49,728 |
| Total liabilities | $21,370 |
| Net assets or fund balances | $28,358 |