Nonprofit · EIN 42-1188596
BASIC FUND INC
Tax-exempt · SCHLESWIG, IA 51461
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990 | $75,219 | $19,899 | $55,320 | $772,349 | $0 | $772,349 |
| September 30, 2024 | 990 | $72,044 | $15,585 | $56,459 | $687,052 | $0 | $687,052 |
Financial details: 990 for the year ended September 30, 2025
Revenue
- Contributions, gifts and grants
- $48,263
- Membership dues
- $25
- Program service revenue
- $3,255
- Investment income
- $23,701
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $19,580
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $275
- Program services (functional)
- $19,899
Balance sheet and other
- Total assets, start of year
- $687,052
- Total assets, end of year
- $772,349
- Total liabilities, end of year
- $0
- Net assets, end of year
- $772,349
- Publicly traded securities
- $770,534
- Net assets without donor restrictions
- $772,349
- Gross receipts
- $75,219
- Employees
- 0
- Volunteers
- 12
- Year formed
- 1984
- State of legal domicile
- IA
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 September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANNE ABBE | TRUSTEE/DIRE Trustee or director | 0.5 | $0 |
| NANCY BIELENBERG | VICE PRESIDE Trustee or director, Officer | 0.5 | $0 |
| LILA BUBKE | SECRETARY Trustee or director, Officer | 2 | $0 |
| DENNIS GIERSTORF | DIRECTOR Trustee or director | 0.5 | $0 |
| LARRY GRILL | PRESIDENT Trustee or director, Officer | 2 | $0 |
| LEISHA KRAGEL | TRUSTEE/DIRE Trustee or director | 0.5 | $0 |
| KATHY WEISS | TREASURER Trustee or director, Officer | 1 | $0 |
990 for the year ended September 30, 2024: 7 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ANNE ABBE | TRUSTEE/DIRE Trustee or director | 0.5 | $0 |
| NANCY BIELENBERG | TRUSTEE/DIRE Trustee or director | 0.5 | $0 |
| LILA BUBKE | SECRETARY Trustee or director, Officer | 2 | $0 |
| LARRY GRILL | PRESIDENT Trustee or director, Officer | 2 | $0 |
| LEISHA KRAGEL | TRUSTEE/DIRE Trustee or director | 0.5 | $0 |
| BARBARA MOELLER | VICE PRESIDE Trustee or director, Officer | 0.5 | $0 |
| KATHY WEISS | TREASURER Trustee or director, Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 396, SCHLESWIG, IA 51461-0396
- Mailing address (990-N for 2022)
- Box 396, Schleswig IA 51461
- Principal officer (990 for 2024)
- LARRY GRILL, 405 CEDAR ST, SCHLESWIG, IA 51461
- Principal officer (990-N for 2022)
- Larry Grill, 405 Cedar Street, Schleswig IA 51461
- Signed the 990
- LARRY GRILL, PRESIDENT
- Phone
- (712) 269-2558
- Return prepared by
- MAHONEY & GOTTO COMPANY
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.
Program accomplishments
- SHS ALUMNI 963.64 AM LEGION 1,041.63 BUSINESS CLUB 1,121.59 CHRISTMAS CHEER 1,067.05 CROSSROADS OF CC 1,062.50 ENTERPRISE 1,117.05 FIRE DEPT 930.26Expenses $7,304 · grants $7,304
- 2025 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 1,128.41Expenses $6,456 · grants $6,456
- 2025 SCHOOL FOUNDATION 1,146.59 2025 SHARKS 4-H 958.67 2025 CHILDCARE 1,153.41 2025 VFW POST 427.27 2025 YOUTH REC 1,109.81 2025 PRESCHOOL 1,024.45Expenses $5,820 · grants $5,820
- PROFESSIONAL FEESExpenses $319 · revenue $3,255
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990 on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990 on file |
IRS record
- EIN
- 42-1188596
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1983
- Accounting year ends
- September
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $772,349
- Income (IRS master file)
- $75,219
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | September 2025 | $75,219 | $19,899 | $772,349 | XML |
| 990 | September 2024 | $72,044 | $15,585 | $687,052 | XML |
| 990-N for 2022 Officer: Larry Grill | September 30, 2023 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2021 Officer: Larry Grill | September 30, 2022 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2020 Officer: Larry Grill | September 30, 2021 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2019 Officer: Larry Grill | September 30, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2018 Officer: Larry Grill | September 30, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
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 42-1188596).
Questions about BASIC FUND INC
- What is the EIN of BASIC FUND INC?
- The employer identification number (EIN) of BASIC FUND INC is 42-1188596.
- Is BASIC FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1983.
- Are donations to BASIC FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BASIC FUND INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BASIC FUND INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BASIC FUND INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended September 2025.
- Who is the principal officer of BASIC FUND INC?
- The 990 for the year ended September 30, 2025 names LARRY GRILL.
- Who are the officers and directors of BASIC FUND INC?
- The 990 for the year ended September 30, 2025 lists 7 people; 0 received compensation from the organization.
- How much revenue does BASIC FUND INC have?
- On its 990 for the year ended September 30, 2025 it reported revenue of $75,219, expenses of $19,899 and total assets of $772,349 at year end.
Other nonprofits in SCHLESWIG
- CRAWIDA REGIONAL CHILD CARE EIN 85-3017964 · last filed 990 for 2024
- FRIENDS OF SCHLESWIG FIRE INC EIN 86-3124488 · last filed 990-EZ for 2025
- SCHLESWIG COMMUNITY ENTERPRISES EIN 42-0776303 · last filed 990-EZ for 2025
- SCHLESWIG YOUTH REC INC EIN 82-1652825 · last filed 990-N for 2025
- DEPARTMENT OF IOWA AUXILIARY TO THE VETERANS OF FOREIGN WARS EIN 30-0460560 · last filed 990-N for 2025
- WOODMEN OF THE WORLD LIFE INSURANCE SOCIETY EIN 42-1150383 · last filed 990-N for 2025
- MORGAN CEMETERY ASSOCIATION EIN 42-0713854 · last filed 990-N for 2025
- AMERICAN LEGION EIN 42-6074469 · last filed 990-N for 2025