Menlo Development Corporation

Nonprofit profile at a glance

EIN
237391179
IRS 990-EZ coverage
2020–2025
Forms available
Form 990 2015, Form 990-EZ 2025
Location
Algona, IA, USA
Phone
5152952927
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$80,988
Expenses
$59,052
Assets
$128,084
Liabilities
$6,839

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Keryl Grasty (President)
  • Shirley Guisinger (Vice President)

People named in this filing

  • Keryl Grasty (President)
  • Shirley Guisinger (Vice President)
  • Deanna Berger (Secretary/Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide low rent housing in Menlo, Iowa.

What it reported doing in 2025

To provide low rent housing for the elderly, disabled, and families. Rent is based on 30% of the applicant's yearly income with the remainder subsidized by USDA/Rural Development. This organization made it possible for 13 families to find safe and affordable housing in Menlo.

Operating model

Revenue model
Earned-program. 97% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Liabilities are high compared with assets and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 82
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.4%; rating input score 72
  • Program expense ratio: 100%; rating input score 100

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 27.1%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 2.17; rating input score 67; 67th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 12.7% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 16.5% per year; rating input score 100; 81st percentile among comparable filings

Details

  • Where the money goes: 72.4% of revenue deployed · 100% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $59K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 9 of 9 current checks pass
  • Schedules: 1 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Liabilities to assets ratio scored 18/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.