Civic Intelligence

Basic Fund Inc

EIN 42-1188596 • 501(c)3 • Schleswig, IA

Profile

As a community endowment fund, we provide funding for civic improvements by distributing our income through grant requests. All of our income was orginally donations from the public, and it was invested, and the investment income is offered to fund grants to community organizations. The amount of each grant is determined by a consensus of the community.

Box 396Schleswig, IA 51461

none

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

33rd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

34th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Net Margin

95th percentile

74%

Higher net margin than 95% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2025

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2025

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$772,349

Up $85,297 (+12%) from 2024

Liabilities

Flat

$0

Flat from 2024

Net Assets

Up

$772,349

Up $85,297 (+12%) from 2024

Operations
Liabilities / Revenue34th percentileNet Margin95th percentile

Revenue

Up

$75,219

Up $3,175 (+4.4%) from 2024

Expenses

Up

$19,899

Up $4,314 (+28%) from 2024

Net Income

Down

$55,320

Down $1,139 (-2.0%) from 2024

Trend Graphs

Balance Sheet Trend

Asset GrowthScore unavailable

Grouped bars show assets, liabilities, and net assets across loaded filings.

$800K$600K$400K$200K$0Assets 2024: $687,052Liabilities 2024: $0Net Assets 2024: $687,0522024Assets 2025: $772,349Liabilities 2025: $0Net Assets 2025: $772,3492025

Highlighted filing

2025

Assets$772,349
Liabilities$0
Net Assets$772,349
Open 2025 Filing

Operations Trend

Revenue GrowthScore unavailable

Revenue, expenses, and net income by year, with the latest filing highlighted.

$80K$60K$40K$20K$0Revenue 2024: $72,044Expenses 2024: $15,585Net Income 2024: $56,4592024Revenue 2025: $75,219Expenses 2025: $19,899Net Income 2025: $55,3202025

Highlighted filing

2025

Revenue$75,219
Expenses$19,899
Net Income$55,320
Open 2025 Filing

Filings

Most recent year

2025 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$772,349
Liabilities
$0
Net assets
$772,349
Revenue
$75,219
Expenses
$19,899
Net income
$55,320
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.72$0.00$7.72$0.75$0.20$0.55
2024Detailed filing. Detailed filing data is available for this year.$6.87$0.00$6.87$0.72$0.16$0.56
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Oct 1, 2024 to Sep 30, 2025
Signed
Nov 10, 2025
Return Version
2024v5.0
Gross Receipts
$75,219
Mission and Program Overview

Mission

As a community endowment fund, we provide funding for civic improvements by distributing our income through grant requests. All of our income was orginally donations from the public, and it was invested, and the investment income is offered to fund grants to community organizations. The amount of each grant is determined by a consensus of the community.

Community endowment fund to support civic improvements

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$674,366$770,534▲ $96,168
Savings and Temporary Cash Investments$11,583--
Cash and Non-Interest-Bearing Accounts$1,103$1,815▲ $712
Total Assets$687,052$772,349▲ $85,297
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$687,052$772,349▲ $85,297
Total Net Assets Fund Balance$687,052$772,349▲ $85,297
Total Liabilities and Net Assets / Fund Balance$687,052$772,349▲ $85,297
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Larry GrillPresident
Dennis GierstorfDirector
Anne AbbeTrustee/dire
Leisha KragelTrustee/dire
Lila BubkeSecretary
Kathy WeissTreasurer
Nancy BielenbergVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$48,263
Program Service Revenue
$3,255
Investment Income
$23,701
Other Revenue
$0
All Other Contributions
$48,238
Change in Net Assets
$55,320
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$19,580
Other Expenses$319
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$19,580--$19,580
Fees for Services Accounting$275--$275
Other Expenses$44--$44
Total Functional Expenses$19,899$0$0$19,899
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Service Accomplishment 1Schleswig, IA-Various$7,304
Service Accomplishment 2Schleswig, IA-Various$6,456
Service Accomplishment 3Schleswig, IA-Various$5,820
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“YES”

Form 990, Page 6, Part VI, Line 7A

“YES”

Form 990, Page 6, Part VI, Line 7B

“YES”

Form 990, Page 6, Part VI, Line 11B

“The officers review form 990 when completed and approve before submission.”

Form 990, Page 6, Part VI, Line 19

“The basic fund has four meetings a year that are open to the public. Financial reports are made available at these meetings, and other documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Basic Fund Inc
EIN
42-1188596
Phone
7122692558
Address
BOX 396, SCHLESWIG, IA 51461

Signing Officer

Name
Larry Grill
Title
President
Phone
7126763606
Signed
2025-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Larry Grill
Formed
1984
Legal Domicile
Ia
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
12

Preparer

Firm
Mahoney & Gotto Company
Address
1527 4TH AVE SOUTH, DENISON, IA 51442
Preparer
Elaine C Gotto CPA
Phone
7122636189
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“As a community endowment fund, we provide funding for civic improvements by distributing our income through grant requests. All of our income was orginally donations from the public, and it was invested, and the investment income is offered to fund grants to community organizations. The amount of each grant is determined by a consensus of the community.”

Form 990, Page 2, Part III, Line 4D

“PROFESSIONAL FEES”

Raw XML Appendix359 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ProgSrvcAccomActy2Grp/Desc02025 GRANT 1,089.95 2025 GOLF COURSE 1,030.68 2025 SCHLESWIG POOL 993.90 2025 TOWN BEAUTIFY COMMITTEE 1,064.77 2025 MORGAN CEMETERY BOARD 1,148.86 2025 LIBRARY 1,128.41
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROFESSIONAL FEES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4YES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE OFFICERS REVIEW FORM 990 WHEN COMPLETED AND APPROVE BEFORE SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE BASIC FUND HAS FOUR MEETINGS A YEAR THAT ARE OPEN TO THE PUBLIC. FINANCIAL REPORTS ARE MADE AVAILABLE AT THESE MEETINGS, AND OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0687052
IRS990/TotalAssetsEOYAmt0772349
IRS990/TotalAssetsGrp/BOYAmt0687052
IRS990/TotalAssetsGrp/EOYAmt0772349
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt048263
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt019899
IRS990/TotalFunctionalExpensesGrp/TotalAmt019899
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0687052
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0772349
IRS990/TotalOtherProgSrvcExpenseAmt0319
IRS990/TotalOtherProgSrvcRevenueAmt03255
IRS990/TotalProgramServiceExpensesAmt019899
IRS990/TotalProgramServiceRevenueAmt03255
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt026956
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt075219
IRS990/TotalVolunteersCnt012
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0687052
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0772349
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0405 CEDAR ST
IRS990/USAddress/CityNm0SCHLESWIG
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd051461
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LARRY GRILL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07126763606
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BASIC FUND INC
ReturnHeader/Filer/BusinessNameControlTxt0BASI
ReturnHeader/Filer/EIN0421188596
ReturnHeader/Filer/PhoneNum07122692558
ReturnHeader/Filer/USAddress/AddressLine1Txt0BOX 396
ReturnHeader/Filer/USAddress/CityNm0SCHLESWIG
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd051461
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0208959914
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MAHONEY & GOTTO COMPANY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01527 4TH AVE SOUTH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DENISON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd051442
ReturnHeader/PreparerPersonGrp/PhoneNum07122636189
ReturnHeader/PreparerPersonGrp/PreparationDt02025-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ELAINE C GOTTO CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-11-17T10:58:53-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-10-01
ReturnHeader/TaxPeriodEndDt02025-09-30
ReturnHeader/TaxYr02024

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