Southwest Iowa Rec
Southwest Iowa Rec maintains stable finances with consistent revenue-to-expense ratios and growing assets, reporting no officer compensation.
EIN: 200538386 · Corning, IA · NTEE: M20 · Updated: 2026-03-28
Is Southwest Iowa Rec Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Southwest Iowa Rec directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Southwest Iowa Rec
Southwest Iowa Rec (EIN: 200538386) is a nonprofit organization based in Corning, IA, classified under NTEE code M20. The organization reported total revenue of $14.3M and total assets of $49.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southwest Iowa Rec's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southwest Iowa Rec is a large nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 0.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $13.2M |
| Total Expenses | $12.6M |
| Surplus / Deficit | +$571K |
| Total Assets | $44.5M |
| Total Liabilities | $25.4M |
| Net Assets | $19.1M |
| Operating Margin | 4.3% |
| Debt-to-Asset Ratio | 57.0% |
| Months of Reserves | 42.3 months |
Financial Health Grade: A
In 2023, Southwest Iowa Rec reported a surplus of $571K with revenue exceeding expenses, holds 42.3 months of operating reserves (strong position), has a debt-to-asset ratio of 57.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Southwest Iowa Rec's revenue has grown at a compound annual growth rate (CAGR) of 0.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.5% | -2.9% | +4.5% |
| 2022 | +3.0% | +1.0% | +4.9% |
| 2021 | +0.1% | +0.1% | +2.6% |
| 2020 | -3.1% | -3.1% | +4.2% |
| 2019 | -1.2% | -1.2% | +4.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Southwest Iowa Rec with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Southwest Iowa Rec allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $571K, with revenue exceeding expenses.
- Debt-to-asset ratio: 57.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with over $14 million in annual revenue and nearly $50 million in assets. This either indicates a fully volunteer executive leadership or that compensation is reported under different categories, requiring further scrutiny for complete financial transparency.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Southwest Iowa Rec's IRS 990 filings:
- Unusually low (0%) reported officer compensation for an organization of this size, potentially indicating incomplete reporting or a unique operational model.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering a full assessment of spending efficiency.
Strengths
The following positive indicators were identified for Southwest Iowa Rec:
- Consistent financial stability with revenues closely matching expenses over many years.
- Steady and significant asset growth, from $33.3M in 2014 to $49.5M currently, indicating strong financial management or investment.
- Long history of IRS 990 filings (13 filings), demonstrating commitment to transparency and compliance.
- Positive net assets (Assets exceeding Liabilities) consistently maintained, indicating financial solvency.
Frequently Asked Questions about Southwest Iowa Rec
Is Southwest Iowa Rec a legitimate charity?
Based on AI analysis of IRS 990 filings, Southwest Iowa Rec (EIN: 200538386) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Southwest Iowa Rec spend its money?
Southwest Iowa Rec directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Southwest Iowa Rec tax-deductible?
Southwest Iowa Rec is registered as a tax-exempt nonprofit (EIN: 200538386). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Southwest Iowa Rec manage to operate with 0% officer compensation, as reported?
The consistent reporting of 0% officer compensation across all filings for an organization with over $14 million in revenue is highly unusual. It suggests either a fully volunteer executive team, or that executive compensation is categorized differently within their financial statements, which would require a deeper dive into their full 990 forms to understand.
What is the detailed breakdown of Southwest Iowa Rec's expenses into program, administrative, and fundraising categories?
The provided data does not offer a detailed breakdown of expenses. While the organization consistently operates near a break-even point (e.g., 2021 revenue and expenses were both $12,865,419), without this granular information, it's difficult to precisely assess spending efficiency and the proportion dedicated directly to programs versus overhead.
How does Southwest Iowa Rec's NTEE code M20 (Recreational, Sports, Leisure, & Athletics) align with its financial activities?
The NTEE code M20 suggests the organization is involved in recreational activities. The consistent revenue and expense figures, along with asset growth, indicate a stable operation, which is typical for established recreational facilities or programs. However, without program details, it's hard to directly link financial data to specific recreational impacts.
What is the nature of Southwest Iowa Rec's liabilities, which have grown to $25,362,944?
The liabilities have steadily increased from $20,287,840 in 2014 to $25,362,944 in 2023. While asset growth has outpaced liability growth in recent years, the significant amount of liabilities suggests the organization may have substantial debt, possibly related to property, equipment, or other long-term obligations. A review of the balance sheet in the full 990 would clarify the composition of these liabilities.
Filing History
IRS 990 filing history for Southwest Iowa Rec showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Southwest Iowa Rec's revenue has grown by 11.7%, moving from $11.8M to $13.2M. Total assets increased by 44.2% over the same period, from $30.9M to $44.5M. Total functional expenses rose by 6.9%, from $11.8M to $12.6M. In its most recent filing year (2023), Southwest Iowa Rec reported a surplus of $571K, with revenue exceeding expenses. The organization holds $25.4M in liabilities against $44.5M in assets (debt-to-asset ratio: 57.0%), resulting in net assets of $19.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $13.2M | $12.6M | $44.5M | $25.4M | — | — |
| 2022 | $13.3M | $13.0M | $42.6M | $24.0M | — | View 990 |
| 2021 | $12.9M | $12.9M | $40.6M | $22.2M | — | — |
| 2020 | $12.9M | $12.9M | $39.6M | $22.0M | — | — |
| 2019 | $13.3M | $13.3M | $38.0M | $21.2M | — | View 990 |
| 2018 | $13.4M | $13.4M | $36.4M | $20.4M | — | View 990 |
| 2017 | $13.0M | $13.0M | $35.4M | $19.9M | — | View 990 |
| 2016 | $12.8M | $12.8M | $34.2M | $19.7M | — | View 990 |
| 2015 | $12.7M | $12.7M | $33.4M | $19.9M | — | View 990 |
| 2014 | $13.3M | $13.3M | $33.4M | $20.3M | — | — |
| 2013 | $12.9M | $12.9M | $31.9M | $19.7M | — | View 990 |
| 2012 | $12.6M | $12.6M | $31.9M | $20.3M | — | View 990 |
| 2011 | $11.8M | $11.8M | $30.9M | $19.9M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $13.2M, expenses of $12.6M, and assets of $44.5M (revenue -0.5% year-over-year).
- 2022: Revenue of $13.3M, expenses of $13.0M, and assets of $42.6M (revenue +3.0% year-over-year).
- 2021: Revenue of $12.9M, expenses of $12.9M, and assets of $40.6M (revenue +0.1% year-over-year).
- 2020: Revenue of $12.9M, expenses of $12.9M, and assets of $39.6M (revenue -3.1% year-over-year).
- 2019: Revenue of $13.3M, expenses of $13.3M, and assets of $38.0M (revenue -1.2% year-over-year).
- 2018: Revenue of $13.4M, expenses of $13.4M, and assets of $36.4M (revenue +3.7% year-over-year).
- 2017: Revenue of $13.0M, expenses of $13.0M, and assets of $35.4M (revenue +1.1% year-over-year).
- 2016: Revenue of $12.8M, expenses of $12.8M, and assets of $34.2M (revenue +1.2% year-over-year).
- 2015: Revenue of $12.7M, expenses of $12.7M, and assets of $33.4M (revenue -4.8% year-over-year).
- 2014: Revenue of $13.3M, expenses of $13.3M, and assets of $33.4M (revenue +2.7% year-over-year).
- 2013: Revenue of $12.9M, expenses of $12.9M, and assets of $31.9M (revenue +2.7% year-over-year).
- 2012: Revenue of $12.6M, expenses of $12.6M, and assets of $31.9M (revenue +6.7% year-over-year).
- 2011: Revenue of $11.8M, expenses of $11.8M, and assets of $30.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southwest Iowa Rec:
Data Sources and Methodology
This transparency report for Southwest Iowa Rec is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.