Nonprofit · EIN 41-1611187
ECONOMIC INITIATIVES OF CANNON FALLS INC
Tax-exempt · CANNON FALLS, MN 55009
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $18,817 | $1,963 | $16,854 | $681,565 | $0 | $681,565 |
| December 31, 2024 | 990 | $23,089 | $1,256 | $21,833 | $664,711 | $0 | $664,711 |
| December 31, 2023 | 990 | $19,148 | $2,110 | $17,038 | $642,878 | $0 | $642,878 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $8,196
- Investment income
- $10,621
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $500
- Accounting fees
- $1,200
- Program services (functional)
- $500
- Management and general (functional)
- $1,463
Balance sheet and other
- Total assets, start of year
- $664,711
- Total assets, end of year
- $681,565
- Total liabilities, end of year
- $0
- Net assets, end of year
- $681,565
- Net assets without donor restrictions
- $681,565
- Gross receipts
- $18,817
- Employees
- 0
- Year formed
- 2009
- State of legal domicile
- MN
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEITH MEYERS | Vice President Trustee or director, Officer | 1 | $0 |
| SHELLY BOLDON | Secretary Trustee or director, Officer | 1 | $0 |
| MARY REINHARDT | Treasurer Trustee or director, Officer | 1 | $0 |
| PHIL JACOBSON | Director Trustee or director | 1 | $0 |
| KIM O'REILLY | Director Trustee or director | 1 | $0 |
| JOHN PETERSON | President Trustee or director, Officer | 1 | $0 |
| LUKE COOREMAN | Director Trustee or director | 1 | $0 |
| JAMES ALTHOFF | President Trustee or director | 1 | $0 |
| DIANA WALTMAN | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 8 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEITH MEYERS | Vice President Trustee or director, Officer | 1 | $0 |
| SHELLY BOLDON | Secretary Trustee or director, Officer | 1 | $0 |
| MARY REINHARDT | Treasurer Trustee or director, Officer | 1 | $0 |
| PHIL JACOBSON | Director Trustee or director | 1 | $0 |
| KIM O'REILLY | Director Trustee or director | 1 | $0 |
| JOHN PETERSON | President Trustee or director, Officer | 1 | $0 |
| JAMES ALTHOFF | President Trustee or director | 1 | $0 |
| DIANA WALTMAN | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| KEITH MEYERS | Vice President Trustee or director, Officer | 1 | $0 |
| GREGORY WULF | Director Trustee or director | 1 | $0 |
| MARY REINHARDT | Treasurer Trustee or director, Officer | 1 | $0 |
| PHIL JACOBSON | Secretary Trustee or director, Officer | 1 | $0 |
| DAN MASSETT | Director Trustee or director | 1 | $0 |
| JOHN PETERSON | President Trustee or director, Officer | 1 | $0 |
| MIKE LORENTZ | Director Trustee or director | 1 | $0 |
| JAMES ALTHOFF | President Trustee or director | 1 | $0 |
| DIANA WALTMAN | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 6631 327TH STREET WAY, CANNON FALLS, MN 55009-4358
- In care of
- % J CHERWINKA
- Signed the 990
- MARY REINHARDT, Treasurer
- Phone
- (507) 263-4945
- Return prepared by
- TREVER SAND LLC
Mission
THE ORGANIZATION WAS FORMED TO INVITE AND ASSIST NEW BUSINESSES TO LOCATE IN CANNON FALLS, MINNESOTA.
Program accomplishments
- THE ORGANIZATION ADMINISTERED 8 LOANS TO SMALL BUSINESSES IN 2025. CONTRIBUTIONS ARE TYPICALLY MADE TO THE LOCAL CHAMBER OF COMMERCE AND ANOTHER AREA ECONOMIC DEVELOPMENT ASSOCIATION TO HELP IN PROMOTION OF CANNON FALLS AREA BUSINESSES.Expenses $500 · revenue $8,196
What it must file and when
IRS records say it files Form 990-N (e-Postcard). Gross receipts normally $50,000 or less. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 41-1611187
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2010
- Accounting year ends
- December
- Files
- Form 990-N (e-Postcard)
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $681,565
- Income (IRS master file)
- $18,817
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $18,817 | $1,963 | $681,565 | XML |
| 990 | December 2024 | $23,089 | $1,256 | $664,711 | XML |
| 990 | December 2023 | $19,148 | $2,110 | $642,878 | XML |
| 990 | December 2022 | $11,223 | $1,000 | $625,840 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-1611187).
Questions about ECONOMIC INITIATIVES OF CANNON FALLS INC
- What is the EIN of ECONOMIC INITIATIVES OF CANNON FALLS INC?
- The employer identification number (EIN) of ECONOMIC INITIATIVES OF CANNON FALLS INC is 41-1611187.
- Is ECONOMIC INITIATIVES OF CANNON FALLS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2010.
- Are donations to ECONOMIC INITIATIVES OF CANNON FALLS INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does ECONOMIC INITIATIVES OF CANNON FALLS INC file?
- Form 990-N (e-Postcard). Gross receipts normally $50,000 or less.
- When is the next return of ECONOMIC INITIATIVES OF CANNON FALLS INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did ECONOMIC INITIATIVES OF CANNON FALLS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who are the officers and directors of ECONOMIC INITIATIVES OF CANNON FALLS INC?
- The 990 for the year ended December 31, 2025 lists 9 people; 0 received compensation from the organization.
- How much revenue does ECONOMIC INITIATIVES OF CANNON FALLS INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $18,817, expenses of $1,963 and total assets of $681,565 at year end.
Other nonprofits in CANNON FALLS
- FREDERICK M AND SIRI J OSS FAMILY FOUNDATION EIN 82-4944635 · last filed 990-PF for 2025
- CANNON FALLS EDUCATIONAL FOUNDATION EIN 41-1759564 · last filed 990 for 2026
- CANNON VALLEY FAIR ASSOCIATION EIN 41-6037285 · last filed 990 for 2025
- CANNON FALLS FOOD SHELF INC EIN 30-0221349 · last filed 990-EZ for 2025
- CANNON FALLS FIRE DEPT RELIEF ASSOCIATION EIN 41-1330133 · last filed 990 for 2024
- JOHN BURCH PARK SUPPORTERS EIN 26-3380397 · last filed 990 for 2025
- ARTORG STUDIOS INCORPORATED EIN 81-2567456 · last filed 990-EZ for 2024
- CANNON FALLS AREA CHAMBER OF COMMERCE EIN 41-1360824 · last filed 990-EZ for 2025
All nonprofits in CANNON FALLS · Minnesota · Community improvement and capacity building