Oelwein Event Corporation

Analysis

Oelwein Event Corporation is a registered charity in United States, based in Oelwein, IA. It received its IRS tax-exemption ruling in March 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Oelwein Event Corporation reported income of $115k and spending of $202k, spending 176% of what it took in. Across the 2 years on record, from June 2023 to June 2024, income fell from $3.2m to $115k (-96%), an average of -96% a year. The sharpest change came in the year to June 2024, when income dropped by 96%. Over the whole period it spent 11% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Oelwein Event Corporation sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 40th percentile, and in the 40th percentile within IA. Charities of a similar size with the same main cause include Maricopa Economic Development Alliance ($115k), Battery to Bridges Coalition Inc ($115k) and Iba Detroit Community Development Corporation ($115k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $8,077. At year end it held assets of $5.0m against liabilities of $2.0m, net assets of $2.9m.