Civic Intelligence

Pay IT Forward Scholarship Foundation

990 • Fiscal year 2024 • EIN 86-3816276

Jan 01, 2024 to Dec 31, 2024 • Filed on Apr 04, 2025

Organization Profile
65 E Jefferson StWinterset, IA 50273

(515) 954-0427

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.00x

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

96th percentile

78%

Higher net margin than 96% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

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

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

75th percentile

23%

Faster asset growth than 75% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

26th percentile

-19%

Faster revenue growth than 26% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$212,066

Up $39,749 (+23%) from 2023

Net Assets

Up

$212,066

Up $39,749 (+23%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue57th percentileNet Margin96th percentile

Revenue

Down

$51,138

Down $11,906 (-19%) from 2023

Expenses

Down

$11,389

Down $7,843 (-41%) from 2023

Net Income

Down

$39,749

Down $4,063 (-9.3%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth75th percentile

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

$300K$200K$100K$0Assets 2023: $172,317Liabilities 2023: $0Net Assets 2023: $172,3172023Assets 2024: $212,066Liabilities 2024: $0Net Assets 2024: $212,0662024

Highlighted filing

2024

Assets$212,066
Liabilities$0
Net Assets$212,066
Open 2024 Filing

Operations Trend

Revenue Growth26th percentile

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

$80K$60K$40K$20K$0Revenue 2023: $63,044Expenses 2023: $19,232Net Income 2023: $43,8122023Revenue 2024: $51,138Expenses 2024: $11,389Net Income 2024: $39,7492024

Highlighted filing

2024

Revenue$51,138
Expenses$11,389
Net Income$39,749
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 4, 2025
Return Version
2024v5.0
Gross Receipts
$51,138
Mission and Program Overview

Mission

Working with the winterset community, the foundation will provide monetary resources to support students to develop skills necessary to be successful. The foundation will achieve this purpose by providing sustained access to college and/or post-secondary job training and skills. We will focus our work on empowering students to find their voice and take an active role in changing their current situation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Assets Total$172,317$212,066▲ $39,749
Total Assets$172,317$212,066▲ $39,749
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$172,317$212,066▲ $39,749
Total Net Assets Fund Balance$172,317$212,066▲ $39,749
Total Liabilities and Net Assets / Fund Balance$172,317$212,066▲ $39,749

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$212,066--
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Patrick CorkreanPresident
Amy NolanDirector
Candy JordanDirector
Justin GrossDirector
Kendra AlexanderDirector
Laura BertelsonDirector
Lew JordanDirector
Mark SmithDirector
Nancy CorkreanDirector
Natalie MontrossDirector
Peter CorkreanDirector
Rick HoenigDirector
Sandy HoenigDirector
Vicki BrennerDirector
Stacy HilsabeckSecretary
Jolynn CorkreanTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$43,690
Program Service Revenue
$0
Investment Income
$7,448
Other Revenue
$0
All Other Contributions
$43,690
Change in Net Assets
$39,749
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,389
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$7,373--$7,373
Fees for Service Investment Mgmnt Fees-$3,616-$3,616
Fees for Services Accounting-$400-$400
Total Functional Expenses$7,373$4,016$0$11,389
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
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Pay It Forward Scholarship Foundati
EIN
86-3816276
Address
65 E JEFFERSON ST, WINTERSET, IA 50273

Signing Officer

Name
Patrick Corkrean
Title
President
Phone
5159540427
Signed
2025-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patrick Corkrean
Formed
2021
Legal Domicile
Ia
Voting Board Members
16
Independent Board Members
16
Employees
0

Preparer

Firm
Thorntree CPA Services LLC
Address
5623 NW 86TH ST STE 400, JOHNSTON, IA 50131-2956
Preparer
Anne T Elliott CPA
Phone
5157276218
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“Working with the winterset community, the foundation will provide monetary resources to support students to develop skills necessary to be successful. The foundation will achieve this purpose by providing sustained access to college and/or post-secondary job training and skills. We will focus our work on empowering students to find their voice and take an active role in changing their current situation.”

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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/USAddress/AddressLine1Txt065 E JEFFERSON
IRS990/USAddress/CityNm0WINTERSET
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050273
IRS990/VotingMembersGoverningBodyCnt016
IRS990/VotingMembersIndependentCnt016
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0PATRICK CORKREAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05159540427
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PAY IT FORWARD SCHOLARSHIP FOUNDATI
ReturnHeader/Filer/BusinessNameControlTxt0PAYI
ReturnHeader/Filer/EIN0863816276
ReturnHeader/Filer/USAddress/AddressLine1Txt065 E JEFFERSON ST
ReturnHeader/Filer/USAddress/CityNm0WINTERSET
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050273
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0872222846
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0THORNTREE CPA SERVICES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05623 NW 86TH ST STE 400
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0JOHNSTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0501312956
ReturnHeader/PreparerPersonGrp/PhoneNum05157276218
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ANNE T ELLIOTT CPA
ReturnHeader/ReturnTs02025-06-02T16:14:03-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$212,066
Liabilities
$0
Net assets
$212,066
Revenue
$51,138
Expenses
$11,389
Net income
$39,749
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.12$0.00$2.12$0.51$0.11$0.40
2023Detailed filing. Detailed filing data is available for this year.$1.72$0.00$1.72$0.63$0.19$0.44