Organizations Filed Purposes:
CHARITABLE AND EDUCATIONAL PURPOSES - (1) TO RAISE MONEY FOR THE CONSTRUCTION AND OPERATION OF A COMMUNITY ARTS/PERFORMANCE CENTER AND A RECREATION/WELLNESS CENTER. TO BE OPERATED BY A 28E COMMITTEE COMPOSED OF THE CITY OF OELWEIN & THE OELWEIN COMMUNITY SCHOOL DISTRICT. WILL BENEFIT OVER 10,000 RESIDENTS OF THE SURROUNDING AREA.(2) TO RAISE MONEY AND CONSTRUCT A REGIONAL ACADEMY FOR MATH AND SCIENCE TO BE OPERATED BY A 28E AGREEMENT COMPOSED OF THE FOUNDATION, THE OELWEIN COMMUNITY SCHOOL DISTRICT AND NORTHEAST IOWA COMMUNITY COLLEGE.THE FOUNDATION LEASES THE ACADEMY TO THE NORTHEAST IOWA COMMUNITY COLLEGE WITH THE PROCEEDS GOING TO PAY THE DEBT SERVICE OWED TO THE USDA-RD.3) MISCELLANEOUS CONTRIBUTIONS ARE RECEIVED TO SUPPORT WELLNESS SCHOLARSHIPS, AND OTHER CHARITABLE AND EDUCATIONAL PROJECTS.
THE ORIGINAL PURPOSE OF THE ORGANIZATION WAS TO RAISE MONEY TO CONSTRUCT A PERFORMING ARTS CENTER AND A RECREATION AND WELLNESS CENTER. PLEDGES COLLECTED DURING THE YEARS 2000 - 2005 ARE APPLIED TO $2000000 OF REVENUE BONDS USED TO CONSTRUCT THE FACILITY. WHEN THE ENTIRE DEBT IS RETIRED, THE FACILITY WILL BE DONATED TO THE CITY AND SCHOOL DISTRICT.THERE REMAINS $5000 ON THE DEBT SERVICE.THE CURRENT PURPOSE OF THE ORGANIZATION IS TO RAISE MONEY AND CONSTRUCT A REGIONAL ACADEMY FOR MATH AND SCIENCE TO BE OWNED BY THE "FOUNDATIONX AND OPERATED UNDER A 28E AGREEMENT WITH THE OELWEIN COMMUNITY SCHOOL DISTRICT AND NORTHEAST IOWA COMMUNITY COLLEGE.THE COMMUNITY COLLEGE LEASES THE REGIONAL ACADEMY FROM THE FOUNDATION FOR $30000 ANNUALLY WHICH THEN IS APPLIED TO THE DEBT SERVICE THE FOUNDATION HAS WITH THE USDA.THE FOUNDATION ALSO SUPPORTS LOCAL NONPROFIT CIVIC ORGANIZATIONS.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Kent Nelson | Director | 0 | $0 |
| Larry Murphy | Director | 0 | $0 |
| Sandra J Graf | Director | 0 | $0 |
| Josh Ehn | Director | 0 | $0 |
| Gene L Fuelling | Director | 1 | $0 |
| Ronald L Van Veldhuizen | Director | 0 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202130979349301033_public.xml