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Grand Mound Cooperative Telephone Association

  • Grand Mound, IA
  • Tax-exempt since April 1949
  • EIN: 42-0652325

Organization summary

Type of Nonprofit

Designated as a Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
$2.76M (2024)

Expenses
$2.77M (2024)

Total Assets
$7.47M (2024)

Total Liabilities
$947k (2024)

Source: Form 990 tax filings from 2017 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,758,745
Expenses
$2,774,911
Net Income
-$16,166
Net Assets
$6,519,453
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,687,272
97.4%
Investment Income $63,196
2.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $8,277
0.3%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $117,740
4.2%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $7,466,256
Total Liabilities $946,803
Net Assets $6,519,453
Club or Co-Op Income
Income From Members $2,198,386
Income From Other Sources $16,379
Compensation
Key Employees and Officers Compensation Related Other
Terri Bumann (Office Manager/Cfo) $86,050 $0 $20,065
Harry Slaymaker (President) $1,875 $0 $0
David Schnack (Vice President) $1,875 $0 $0
Kurt Crosthwaite (Director) $1,750 $0 $0
Kurt Olson (Director) $1,625 $0 $0
Ashley Smith (Director) $1,625 $0 $0
Greg Adams (Secretary/Treasurer) $1,500 $0 $0
Tom Michoski (Director) $1,375 $0 $0
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Document Links

990
Filed on Oct. 10, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,628,159
Expenses
$2,239,604
Net Income
$388,555
Net Assets
$5,938,506
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,552,097
97.1%
Investment Income $61,629
2.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $14,433
0.5%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $109,510
4.9%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $6,976,098
Total Liabilities $1,037,592
Net Assets $5,938,506
Club or Co-Op Income
Income From Members $2,050,004
Income From Other Sources $22,121
Compensation
Key Employees and Officers Compensation Related Other
Terri Bumann (Office Manager/Cfo) $79,450 $0 $19,185
Harry Slaymaker (President) $1,750 $0 $0
Tom Michoski (Director) $1,625 $0 $0
David Schnack (Vice President) $1,500 $0 $0
Greg Adams (Secretary/Treasurer) $1,500 $0 $0
Kurt Olson (Director) $1,500 $0 $0
Kurt Crosthwaite (Director) $1,500 $0 $0
Ashley Smith (Director) $1,500 $0 $0
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Document Links

990
Filed on Nov. 15, 2024

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,486,757
Expenses
$2,638,706
Net Income
-$151,949
Net Assets
$5,350,699
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,354,345
94.7%
Investment Income $108,267
4.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $24,145
1.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $109,324
4.1%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $6,498,449
Total Liabilities $1,147,750
Net Assets $5,350,699
Club or Co-Op Income
Income From Members $1,828,972
Income From Other Sources $78,873
Compensation
Key Employees and Officers Compensation Related Other
Terri Bumann (Office Manager/Cfo) $75,803 $0 $24,956
Harry Slaymaker (President) $1,425 $0 $0
David Schnack (Vice President) $1,325 $0 $0
Kurt Crosthwaite (Director) $1,255 $0 $0
Ashley Smith (Director) $1,255 $0 $0
Greg Adams (Secretary/Treasurer) $1,225 $0 $0
Tom Michoski (Director) $1,165 $0 $0
Kurt Olson (Director) $915 $0 $0
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Document Links

990
Filed on Sept. 26, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,296,344
Expenses
$2,450,100
Net Income
-$153,756
Net Assets
$4,765,210
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $2,212,377
96.3%
Investment Income $61,470
2.7%
Bond Proceeds $0
Royalties $0
Rental Property Income $22,497
1.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $99,185
4.0%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $6,056,260
Total Liabilities $1,291,050
Net Assets $4,765,210
Club or Co-Op Income
Income From Members $1,700,344
Income From Other Sources $30,315
Compensation
Key Employees and Officers Compensation Related Other
Terri Bumann (Office Manager/Cfo) $72,263 $0 $19,012
Harry Slaymaker (President) $1,300 $0 $0
David Schnack (Vice President) $1,300 $0 $0
Kurt Crosthwaite (Director) $1,170 $0 $0
Ashley Smith (Director) $1,080 $0 $0
Kurt Olson (Director) $990 $0 $0
Greg Adams (Secretary/Treasurer) $900 $0 $0
Tom Michoski (Director) $810 $0 $0
Deb Olson (Director (Through March 2021)) $360 $0 $0
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Document Links

990
Filed on Nov. 14, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,252,550
Expenses
$2,258,469
Net Income
-$5,919
Net Assets
$4,405,604
Notable Sources of Revenue Percent of Total Revenue
Contributions $71,135
3.2%
Program Services $2,088,480
92.7%
Investment Income $70,088
3.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $22,847
1.0%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $101,098
4.5%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $5,664,781
Total Liabilities $1,259,177
Net Assets $4,405,604
Club or Co-Op Income
Income From Members $1,555,092
Income From Other Sources $38,039
Compensation
Key Employees and Officers Compensation Related Other
Terri Bumann (Office Manager/Cfo) $71,262 $0 $20,596
David Schnack (Vice President) $1,500 $0 $0
Harry Slaymaker (President) $1,400 $0 $0
Greg Adams (Secretary/Treasurer) $1,300 $0 $0
Deb Olson (Director) $1,260 $0 $0
Kurt Olson (Director) $1,260 $0 $0
Kurt Crosthwaite (Director) $1,260 $0 $0
Ashley Smith (Director) $1,260 $0 $0
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990
Filed on Oct. 19, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$2,030,175
Expenses
$2,096,053
Net Income
-$65,878
Net Assets
$3,169,926
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,983,828
97.7%
Investment Income $24,139
1.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $22,208
1.1%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $95,446
4.6%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $4,493,938
Total Liabilities $1,324,012
Net Assets $3,169,926
Club or Co-Op Income
Income From Members $1,407,352
Income From Other Sources $38,391
Compensation
Key Employees and Officers Compensation Related Other
Terri Bumann (Office Manager/Cfo) $67,580 $0 $19,966
Harry Slaymaker (President) $1,350 $0 $0
David Schnack (Vice President) $1,350 $0 $0
Greg Adams (Secretary/Treasurer) $1,150 $0 $0
Kurt Olson (Director) $1,080 $0 $0
Kurt Crosthwaite (Director) $990 $0 $0
Deb Olson (Director) $900 $0 $0
Ashley Smith (Director (Starting March 2019)) $810 $0 $0
Sue Warren (Director (Through March 2019)) $270 $0 $0
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990
Filed on July 15, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,743,684
Expenses
$1,562,656
Net Income
$181,028
Net Assets
$2,842,770
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,660,028
95.2%
Investment Income $61,857
3.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $21,799
1.3%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $103,277
6.6%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $4,383,051
Total Liabilities $1,540,281
Net Assets $2,842,770
Club or Co-Op Income
Income From Members $1,343,478
Income From Other Sources $38,007
Compensation
Key Employees and Officers Compensation Related Other
Terri Bumann (Office Manager/Cfo) $62,852 $0 $31,945
Harry Slaymaker (President) $1,460 $0 $0
David Schnack (Vice President) $1,400 $0 $0
Kurt Crosthwaite (Director) $1,350 $0 $0
Greg Adams (Secretary/Treasurer) $1,200 $0 $0
Sue Warren (Director) $1,170 $0 $0
Deb Olson (Director) $950 $0 $0
Kurt Olson (Director) $950 $0 $0
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Document Links

990
Filed on Nov. 5, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing
PDF XML

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$1,588,960
Expenses
$1,712,756
Net Income
-$123,796
Net Assets
$2,695,125
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $1,546,496
97.3%
Investment Income $20,355
1.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $22,109
1.4%
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $200,228
11.7%
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $3,544,781
Total Liabilities $849,656
Net Assets $2,695,125
Club or Co-Op Income
Income From Members $1,235,610
Income From Other Sources $44,881

Document Links

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

What Is This Data?

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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Nonprofit Explorer

Browse millions of annual returns filed by tax-exempt organizations with ProPublica’s Nonprofit Explorer. See details like executive compensation, revenue, expenses and more. Search for an organization or a person, or search the full text of filings.

By Andrea Suozzo, Alec Glassford, Ash Ngu and Brandon Roberts.

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E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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