Civic Intelligence

Mustang Foundation Inc C/O Bank Iowa

990 • Fiscal year 2024 • EIN 42-1429135

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 16, 2025

Bankiowa PO Box 229Independence, IA 50644

(319) 334-7181

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.00x

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

18th percentile

0.00x

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

81st percentile

31%

Higher net margin than 81% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

71st percentile

14%

Faster asset growth than 71% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

97th percentile

376%

Faster revenue growth than 97% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,303,538

Up $158,572 (+14%) from 2023

Net Assets

Up

$1,303,538

Up $158,572 (+14%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue

Up

$385,055

Up $304,137 (+376%) from 2023

Expenses

Up

$264,010

Up $140,774 (+114%) from 2023

Net Income

Up

$121,045

Up $163,363 (+386%) from 2023

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,092,206Liabilities 2011: $0Net Assets 2011: $1,092,2062011Assets 2012: $1,910,052Liabilities 2012: $0Net Assets 2012: $1,910,0522012Assets 2013: $682,294Liabilities 2013: $0Net Assets 2013: $682,2942013Assets 2014: $849,284Liabilities 2014: $0Net Assets 2014: $849,2842014Assets 2015: $478,788Liabilities 2015: $0Net Assets 2015: $478,7882015Assets 2016: $579,743Liabilities 2016: $0Net Assets 2016: $579,7432016Assets 2017: $361,170Liabilities 2017: $0Net Assets 2017: $361,1702017Assets 2018: $312,060Liabilities 2018: $0Net Assets 2018: $312,0602018Assets 2019: $354,252Liabilities 2019: $0Net Assets 2019: $354,2522019Assets 2020: $1,051,272Liabilities 2020: $0Net Assets 2020: $1,051,2722020Assets 2021: $1,130,892Liabilities 2021: $0Net Assets 2021: $1,130,8922021Assets 2022: $1,146,234Liabilities 2022: $0Net Assets 2022: $1,146,2342022Assets 2023: $1,144,966Liabilities 2023: $0Net Assets 2023: $1,144,9662023Assets 2024: $1,303,538Liabilities 2024: $0Net Assets 2024: $1,303,5382024

Highlighted filing

2024

Assets$1,303,538
Liabilities$0
Net Assets$1,303,538

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$3.0M$2.0M$1.0M$0-$1.0M-$2.0MRevenue 2011: $1,222,852Expenses 2011: $216,547Net Income 2011: $1,006,3052011Expenses 2012: $92,6922012Revenue 2013: $831,118Expenses 2013: $2,063,272Net Income 2013: -$1,232,1542013Revenue 2014: $856,347Expenses 2014: $690,289Net Income 2014: $166,0582014Revenue 2015: $734,230Expenses 2015: $1,103,239Net Income 2015: -$369,0092015Revenue 2016: $626,608Expenses 2016: $528,538Net Income 2016: $98,0702016Revenue 2017: $338,704Expenses 2017: $582,794Net Income 2017: -$244,0902017Revenue 2018: $269,600Expenses 2018: $278,470Net Income 2018: -$8,8702018Revenue 2019: $110,524Expenses 2019: $179,664Net Income 2019: -$69,1402019Revenue 2020: $229,252Expenses 2020: $92,739Net Income 2020: $136,5132020Revenue 2021: $157,084Expenses 2021: $121,777Net Income 2021: $35,3072021Revenue 2022: $347,176Expenses 2022: $197,994Net Income 2022: $149,1822022Revenue 2023: $80,918Expenses 2023: $123,236Net Income 2023: -$42,3182023Revenue 2024: $385,055Expenses 2024: $264,010Net Income 2024: $121,0452024

Highlighted filing

2024

Revenue$385,055
Expenses$264,010
Net Income$121,045
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 16, 2025
Return Version
2024v5.1
Gross Receipts
$407,881
Mission and Program Overview

Mission

To benefit and support the activities of independence community school district.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$606,291$754,619▲ $148,328
Savings and Temporary Cash Investments$538,675$548,919▲ $10,244
Cash and Non-Interest-Bearing Accounts-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$1,144,966$1,303,538▲ $158,572
Other Assets Total-$0-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$813,780$848,296▲ $34,516
Net Assets With Donor Restrictions$331,186$455,242▲ $124,056
Total Net Assets Fund Balance$1,144,966$1,303,538▲ $158,572
Total Liabilities and Net Assets / Fund Balance$1,144,966$1,303,538▲ $158,572
Compensation and Service Providers

Board Members and Trustees

NameTitle
Andy HauberDirector
Brad KeglerDirector
Bryan PalmerDirector
Charlie MccardleDirector
Cody BarnesDirector
Jeremy HahnDirector
Kathryn JetterDirector
Megan RasmussenDirector
Michael HadenDirector
Ray DostalDirector
Lans FlickingerSecretary
Rob RobinsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$296,669
Program Service Revenue
$70,152
Investment Income
$18,234
Other Revenue
$0
All Other Contributions
$296,669
Change in Net Assets
$121,045
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$211,946
Other Expenses$52,064
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$211,946--$211,946
Other Expenses$44,409--$44,409
Fees for Service Investment Mgmnt Fees$7,518--$7,518
Office Expenses$137--$137
Total Functional Expenses$264,010$0$0$264,010
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Independence Community SchoolIndependence, IA-Building & School$127,376
Nutrien Ag SolutionsIndependence, IA-Fundraiser$10,311
Iowa Sports SupplyCedar Falls, IA-Sports Equipment$7,886
Minntex Citrus IncMonticello, IA-Fundraiser$7,777
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the secretary and treasurer.

Form 990, Part VI, Section B, Line 12C

Principal officers and members of committees with governing board delegation powers are annually required to sign a statement that they have complied with the conflict of interest policy.

Form 990, Part VI, Section C, Line 19

Documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Mustang Foundation Inc
EIN
42-1429135
Phone
3193347181
Address
BANKIOWA PO BOX 229, INDEPENDENCE, IA 50644

Signing Officer

Name
Rob Robinson
Title
Treasurer
Signed
2025-04-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rob Robinson
Formed
1994
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
200

Preparer

Firm
Roberts & Eddy PC
Address
2349 Jamestown Ave Suite 4, Independence, IA 50644
Preparer
Brian C Eddy
Phone
3193343704
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Investment value increase = $37527

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IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0ROB ROBINSON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0VOCATIONAL AG ED SALES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt070152
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt070152
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt038320
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0116056
IRS990/PYInvestmentIncomeAmt016211
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt07180
IRS990/PYProgramServiceRevenueAmt026387
IRS990/PYRevenuesLessExpensesAmt0-42318
IRS990/PYTotalExpensesAmt0123236
IRS990/PYTotalRevenueAmt080918
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0121045
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0538675
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0548919
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0296669
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt038320
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0193277
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0134153
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0116475
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0778894
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/InvestmentIncomePYPct00.00470
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportPY509Pct00.99530
IRS990ScheduleA/PublicSupportTotal509Amt0778894
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0296669
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt038320
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0193277
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0134153
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0116475
IRS990ScheduleA/Total509Grp/TotalAmt0778894
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0296669
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt038320
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0193277
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0134153
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0116475
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0778894
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/TotalBookValueSecuritiesAmt0754619
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt0127376
IRS990ScheduleI/RecipientTable/CashGrantAmt17886
IRS990ScheduleI/RecipientTable/CashGrantAmt27777
IRS990ScheduleI/RecipientTable/CashGrantAmt310311
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt10
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt20
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt30
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0BUILDING & SCHOOL
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1SPORTS EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt2FUNDRAISER
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt3FUNDRAISER
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0INDEPENDENCE COMMUNITY SCHOOL
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1IOWA SPORTS SUPPLY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt2MINNTEX CITRUS INC
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt3NUTRIEN AG SOLUTIONS
IRS990ScheduleI/RecipientTable/RecipientEIN0420896980
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01207 1ST ST W
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt13121 CAPITAL WAY
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt2702 JOHN DR
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt32383 JAMESTOWN AVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0INDEPENDENCE
IRS990ScheduleI/RecipientTable/USAddress/CityNm1CEDAR FALLS
IRS990ScheduleI/RecipientTable/USAddress/CityNm2MONTICELLO
IRS990ScheduleI/RecipientTable/USAddress/CityNm3INDEPENDENCE
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd1IA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd2IA
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd3IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd050644
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd150613
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd252310
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd350644
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt04
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE SECRETARY AND TREASURER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRINCIPAL OFFICERS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATION POWERS ARE ANNUALLY REQUIRED TO SIGN A STATEMENT THAT THEY HAVE COMPLIED WITH THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3INVESTMENT VALUE INCREASE = $37527
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01144966

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.30$0.00$1.30$0.39$0.26$0.12
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.14$0.00$1.14$0.08$0.12$0.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.15$0.00$1.15$0.35$0.20$0.15
2021Detailed filing. Detailed filing data is available for this year.$1.13$0.00$1.13$0.16$0.12$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.05$0.00$1.05$0.23$0.09$0.14
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$0.00$0.35$0.11$0.18$0.07
2018Summary only. Only limited summary data is available for this year.$0.31$0.00$0.31$0.27$0.28$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.36$0.00$0.36$0.34$0.58$0.24
2016Detailed filing. Detailed filing data is available for this year.$0.58$0.00$0.58$0.63$0.53$0.10
2015Detailed filing. Detailed filing data is available for this year.$0.48$0.00$0.48$0.73$1.10$0.37
2014Detailed filing. Detailed filing data is available for this year.$0.85$0.00$0.85$0.86$0.69$0.17
2013Detailed filing. Detailed filing data is available for this year.$0.68$0.00$0.68$0.83$2.06$1.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.91$0.00$1.91$0.09
2011Summary only. Only limited summary data is available for this year.$1.09$0.00$1.09$1.22$0.22$1.01