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Fort Madison Sirrc Corporation

EIN 42-1379413 · Fort Madison, IA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong100 out of 100GovernanceFair64 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

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

Income
$418,296
Spending
$252,885
Spent on programs
99%
Reserves
34.3 months of spending
Largest source of income
donations and private grants, 94%
Employees
0

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 100 out of 100. Higher than 88% of charities in its peer group (community improvement, $250k to $1m).

  • Reserves

    35 of 35

    Spendable reserves would cover 34.3 months of spending.

  • Debt

    20 of 20

    It owes 0% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 40% of income.

  • Income trend

    15 of 15

    Income rose 1% on the year before.

  • Spending floor

    15 of 15

    99% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 64 out of 100. Higher than 32% of charities in its peer group (community improvement, $250k to $1m).

  • Independent board

    25 of 25

    9 of 9 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    0 of 10

    Did not give the board a copy of this return before filing it.

  • Independent check of accounts

    6 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (1)
  1. $250,000 spent. 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. 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.

Source: Form 990 for the year ending December 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since May 1998.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.