After watching many political commercials, I felt compelled to write about one that has meaning for Maquoketa and Jackson County. I have watched Senator Bowman come up with ways to attack and discredit his opponent.
Since some people call me a tax nerd, and as a CPA that does prepare some tax returns, I decided to test Senator Bowman’s theory on his opponent’s handling of government money.
First, his opponent works for a non-profit controlled by a board of directors. This board is responsible for budgeting and approving expenditures, not the executive director. Second, Senator Bowman is trying to tell constituents that this organization doesn’t know how to be good stewards of government funds.
I, like any other person with a computer and internet service, pulled up the organization’s available Form 990 filed with the IRS.
Access to the forms from 2004 through 2016 can be found at https://www.propublica.org/.
Here’s what I discovered. In 2004 the deficit was ($8,818) but the net fund balance was a positive $41,391. In 2005 there was a deficit of ($5,162) and a positive net fund balance of $36,229. In 2006 the deficit was ($15), yes fifteen bucks, and the net fund balance was positive $36,214. In the remaining years, the deficit was gone but the net fund balances were never close to a deficit. As a matter of fact, fundraising has increased with this organization and brought with it a lot of tourism dollars into Eastern Iowa which translates into cash for small businesses like those located here in Jackson County.
If we want more growth and opportunity in Jackson County, and see a Senator who cares and listens to constituents, vote for Carrie Koelker on Tuesday, November 6. She’s got my vote.
Monica J. McHugh