Jepsen Educational Trust

Storm Lake, IA
Tax-exempt since Dec. 1994
EIN: 42-6507732

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Category: Educational Institutions and Related Activities / Scholarships, Student Financial Aid Services, Awards (NTEE)

Donations to this organization are tax deductible.

Revenue

$6.86k (2025)

Expenses

$7.84k (2025)

Total Assets

$105k (2025)

Total Liabilities

$0 (2025)

Source: Form 990 tax filings from 2012 to 2025

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 June
2025

Revenue

$6,858

Expenses

$7,837

Net Income

-$979

Net Assets

$105,338

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$425	6.2%
Dividends	$3,729	54.4%
Sales of Assets	$2,704	39.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,301	67.6%
Compensation of Officers*	$2,536	32.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$105,338
Total Liabilities	$0
Net Assets	$105,338

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$2,536	$0

990-PF

Filed on July 22, 2025

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Fiscal Year Ending June
2024

Revenue

$4,361

Expenses

$7,613

Net Income

-$3,252

Net Assets

$106,317

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$392	9.0%
Dividends	$3,447	79.0%
Sales of Assets	$522	12.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,051	66.3%
Compensation of Officers*	$2,562	33.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$106,317
Total Liabilities	$0
Net Assets	$106,317

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$2,562	$0

990-PF

Filed on Aug. 19, 2024

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Fiscal Year Ending June
2023

Revenue

$4,738

Expenses

$8,113

Net Income

-$3,375

Net Assets

$109,569

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$325	6.9%
Dividends	$3,684	77.8%
Sales of Assets	$729	15.4%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$6,153	75.8%
Compensation of Officers*	$1,960	24.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$109,569
Total Liabilities	$0
Net Assets	$109,569

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,960	$0

990-PF

Filed on Nov. 9, 2023

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Fiscal Year Ending June
2022

Revenue

$5,578

Expenses

$7,720

Net Income

-$2,142

Net Assets

$112,944

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$325	5.8%
Dividends	$3,672	65.8%
Sales of Assets	$1,581	28.3%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$6,015	77.9%
Compensation of Officers*	$1,705	22.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$112,944
Total Liabilities	$0
Net Assets	$112,944

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,705	$0

990-PF

Filed on July 25, 2022

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Fiscal Year Ending June
2021

Revenue

$4,691

Expenses

$7,579

Net Income

-$2,888

Net Assets

$115,085

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$535	11.4%
Dividends	$3,711	79.1%
Sales of Assets	$445	9.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,948	78.5%
Compensation of Officers*	$1,631	21.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$115,086
Total Liabilities	$1
Net Assets	$115,085

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,631	$0

990-PF

Filed on Sept. 2, 2021

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Fiscal Year Ending June
2020

Revenue

$4,809

Expenses

$7,483

Net Income

-$2,674

Net Assets

$117,973

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$736	15.3%
Dividends	$3,695	76.8%
Sales of Assets	$378	7.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,951	79.5%
Compensation of Officers*	$1,532	20.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$117,974
Total Liabilities	$1
Net Assets	$117,973

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,532	$0

990-PF

Filed on Aug. 12, 2020

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Fiscal Year Ending June
2019

Revenue

$5,076

Expenses

$7,616

Net Income

-$2,540

Net Assets

$120,648

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$711	14.0%
Dividends	$4,220	83.1%
Sales of Assets	$145	2.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,949	78.1%
Compensation of Officers*	$1,667	21.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$120,648
Total Liabilities	$0
Net Assets	$120,648

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,667	$0

990-PF

Filed on Oct. 7, 2019

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Fiscal Year Ending June
2018

Revenue

$4,822

Expenses

$8,263

Net Income

-$3,441

Net Assets

$123,188

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$685	14.2%
Dividends	$4,190	86.9%
Sales of Assets	-$53
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$6,488	78.5%
Compensation of Officers*	$1,775	21.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$123,188
Total Liabilities	$0
Net Assets	$123,188

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,775	$0

990-PF

Filed on July 25, 2018

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Fiscal Year Ending June
2017

Revenue

$5,315

Expenses

$9,200

Net Income

-$3,885

Net Assets

$126,629

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$314	5.9%
Dividends	$4,969	93.5%
Sales of Assets	$32	0.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$7,405	80.5%
Compensation of Officers*	$1,795	19.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$126,629
Total Liabilities	$0
Net Assets	$126,629

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,795	$0

990-PF

Filed on Aug. 15, 2017

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Fiscal Year Ending June
2016

Revenue

$5,305

Expenses

$7,288

Net Income

-$1,983

Net Assets

$130,514

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$5,420	> 100%
Sales of Assets	-$115
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$5,462	74.9%
Compensation of Officers*	$1,826	25.1%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$130,514
Total Liabilities	$0
Net Assets	$130,514

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,826	$0

990-PF

Filed on Aug. 1, 2016

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Fiscal Year Ending June
2015

Revenue

$5,616

Expenses

$4,842

Net Income

$774

Net Assets

$132,497

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$5,616	100%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$3,972	82.0%
Compensation of Officers*	$870	18.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$132,497
Total Liabilities	$0
Net Assets	$132,497

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$870	$0

990-PF

Filed on Sept. 21, 2015

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Fiscal Year Ending June
2014

Revenue

$6,448

Expenses

$5,995

Net Income

$453

Net Assets

$131,723

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,448	100%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,995	83.3%
Compensation of Officers*	$1,000	16.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$131,723
Total Liabilities	$0
Net Assets	$131,723

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,000	$0

990-PF

Filed on Oct. 8, 2014

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Fiscal Year Ending June
2013

Revenue

$5,093

Expenses

$5,564

Net Income

-$471

Net Assets

$131,269

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$5,093	100%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,824	86.7%
Compensation of Officers*	$740	13.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$131,270
Total Liabilities	$1
Net Assets	$131,269

990-PF

Filed on Oct. 28, 2013

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Fiscal Year Ending June
2012

Revenue

$5,540

Expenses

$5,433

Net Income

$107

Net Assets

$131,740

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$5,540	100%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,801	88.4%
Compensation of Officers*	$632	11.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$131,741
Total Liabilities	$1
Net Assets	$131,740

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

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Jepsen Educational Trust

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $6.86k (2025)

Expenses $7.84k (2025)

Total Assets $105k (2025)

Total Liabilities $0 (2025)

Tax Filings by Year

Fiscal Year Ending June 2025

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending June 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$6.86k (2025)

Expenses

$7.84k (2025)

Total Assets

$105k (2025)

Total Liabilities

$0 (2025)

Fiscal Year Ending June
2025

Fiscal Year Ending June
2024

Fiscal Year Ending June
2023

Fiscal Year Ending June
2022

Fiscal Year Ending June
2021

Fiscal Year Ending June
2020

Fiscal Year Ending June
2019

Fiscal Year Ending June
2018

Fiscal Year Ending June
2017

Fiscal Year Ending June
2016

Fiscal Year Ending June
2015

Fiscal Year Ending June
2014

Fiscal Year Ending June
2013

Fiscal Year Ending June
2012

Fiscal Year Ending June
2011

Fiscal Year Ending June
2010

Fiscal Year Ending June
2009

Fiscal Year Ending June
2008

Fiscal Year Ending June
2007

Fiscal Year Ending June
2006

Fiscal Year Ending June
2005

Fiscal Year Ending June
2004

Fiscal Year Ending June
2003

Fiscal Year Ending June
2002