FORT MADISON SIRRC CORPORATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1991

Legal Domicile

Principal Officer

STEVE W LINK

Phone

3198376042

Tax Period

2023-01-01 to 2023-12-31

FORT MADISON SIRRC CORPORATION, founded in 1991, is a small nonprofit in the Community Improvement sector that reported $456K in total revenue in fiscal year 2023. Expenses of $567K exceeded revenue, resulting in a 24% operating deficit.

Mission

FORT MADISON SIRRC CORPORATION ACCUMULATES FUNDS IN ANTICIPATION OF MAKING GRANTS TO QUALIFIED, NON-PROFIT ORGANIZATIONS WITHIN THE COMMUNITY SPECIFICALLY FOR COMMUNITY BETTERMENT PROJECTS.

Program Service Accomplishments

Program 1

Expenses: $565,000

THE PRIMARY PURPOSE OF THE CORPORATION IS TO ACT AS A CONDUIT OF FUNDS FROM THE SOUTHEAST IOWA REGIONAL RIVERBOAT COMMISSION TO THE CITY OF FORT MADISON. THESE FUNDS ARE TO BE USED TO RETIRE DEBT...

THE PRIMARY PURPOSE OF THE CORPORATION IS TO ACT AS A CONDUIT OF FUNDS FROM THE SOUTHEAST IOWA REGIONAL RIVERBOAT COMMISSION TO THE CITY OF FORT MADISON. THESE FUNDS ARE TO BE USED TO RETIRE DEBT OBLIGATIONS UNDERTAKEN BY THE CITY OF FORT MADISON FOR RIVERFRONT FACILITY CONSTRUCTION NECESSARY TO ACCOMMODATE THE RIVERBOAT. UPON COMPLETE RETIREMENT OF THESE BONDS, THE FUNDS ARE TO BE USED EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE PURPOSE OF THE CITY OR OTHER CHARITABLE ORGANIZATIONS WITHIN THE CITY OR THE SURROUNDING COMMUNITY. RETIREMENT OF THE BONDS WAS COMPLETED DURING 2001. THE ORGANIZATION IS NOW ACCUMULATING FUNDS IN ANTICIPATION OF MAKING GRANTS TO OTHER QUALIFIED, NON-PROFIT ORGANIZATIONS WITHIN THE COMMUNITY SPECIFICALLY FOR COMMUNITY BETTERMENT PROJECTS. THERE ARE NO COMMITTEES THAT ACT ON BEHALF OF THE GOVERNING BOARD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $443,318

Program Service Revenue $0

Investment Income $12,701

Other Revenue $0

TOTAL REVENUE $456,019

Expense Breakdown

Grants Paid $565,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $565,000

Other Expenses $1,933

TOTAL EXPENSES $566,933

Year-over-Year Comparison

	2023	2022	Change
Revenue	$456,019	$450,855	+0.0%
Expenses	$566,933	$536,263	+0.1%
Net Income	$-110,914	$-85,408	+0.3%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MIKE CULBERTSON	DIRECTOR	N/A	Director	$0	$0	$0
BOB HUFFMAN JR	DIRECTOR	N/A	Director	$0	$0	$0
CHUCK KEMKPER	DIRECTOR	N/A	Director	$0	$0	$0
STEVE W LINK	PRESIDENT	N/A	Officer Director	$0	$0	$0
JASON LYNK	DIRECTOR	N/A	Director	$0	$0	$0
MATT MORRIS	DIRECTOR	N/A	Director	$0	$0	$0
JUSTIN PIEPER	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
JODY SCHULTE	DIRECTOR	N/A	Director	$0	$0	$0
JESSICA SUTCLIFFE	DIRECTOR	N/A	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$456,019	$566,933	$569,448	$-110,914
2022	$450,855	$536,263	$680,362	$-85,408
2021	$486,758	$714,128	$765,770	$-227,370
2020	$323,920	$216,778	$993,140	$107,142
2019	$403,961	$445,423	$885,998	$-41,462
2018	$404,517	$442,348	$927,460	$-37,831