Jepsen Trust

Co Citizens First National Bank

Storm Lake, IA
Tax-exempt since Dec. 1994
EIN: 42-6507733

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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.

Donations to this organization are tax deductible.

Revenue

$41.4k (2025)

Expenses

$31.1k (2025)

Total Assets

$553k (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

$41,430

Expenses

$31,109

Net Income

$10,321

Net Assets

$552,665

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$70	0.2%
Dividends	$22,317	53.9%
Sales of Assets	$18,543	44.8%
Other Income	$500	1.2%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$25,620	82.4%
Compensation of Officers*	$5,489	17.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$552,665
Total Liabilities	$0
Net Assets	$552,665

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$5,489	$0

990-PF

Filed on July 22, 2025

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2024

Revenue

$26,140

Expenses

$33,502

Net Income

-$7,362

Net Assets

$542,344

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$21,243	81.3%
Sales of Assets	$4,897	18.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$27,925	83.4%
Compensation of Officers*	$5,577	16.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$542,344
Total Liabilities	$0
Net Assets	$542,344

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$5,577	$0

990-PF

Filed on Aug. 19, 2024

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2023

Revenue

$31,457

Expenses

$37,300

Net Income

-$5,843

Net Assets

$549,706

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$21,531	68.4%
Sales of Assets	$9,926	31.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$33,776	90.6%
Compensation of Officers*	$3,524	9.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$549,706
Total Liabilities	$0
Net Assets	$549,706

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$3,524	$0

990-PF

Filed on Nov. 9, 2023

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2022

Revenue

$31,762

Expenses

$32,461

Net Income

-$699

Net Assets

$555,549

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$410	1.3%
Dividends	$20,515	64.6%
Sales of Assets	$10,837	34.1%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$29,000	89.3%
Compensation of Officers*	$3,461	10.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$555,549
Total Liabilities	$0
Net Assets	$555,549

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$3,461	$0

990-PF

Filed on Aug. 1, 2022

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2021

Revenue

$26,987

Expenses

$32,523

Net Income

-$5,536

Net Assets

$556,247

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,037	3.8%
Dividends	$16,551	61.3%
Sales of Assets	$9,399	34.8%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$29,307	90.1%
Compensation of Officers*	$3,216	9.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$556,248
Total Liabilities	$1
Net Assets	$556,247

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$3,216	$0

990-PF

Filed on Sept. 2, 2021

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2020

Revenue

$22,660

Expenses

$25,386

Net Income

-$2,726

Net Assets

$561,783

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,852	8.2%
Dividends	$16,686	73.6%
Sales of Assets	$4,122	18.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$21,700	85.5%
Compensation of Officers*	$3,686	14.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$561,784
Total Liabilities	$1
Net Assets	$561,783

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$3,686	$0

990-PF

Filed on Aug. 12, 2020

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2019

Revenue

$25,107

Expenses

$40,429

Net Income

-$15,322

Net Assets

$564,510

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,872	7.5%
Dividends	$18,419	73.4%
Sales of Assets	$4,816	19.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$36,960	91.4%
Compensation of Officers*	$3,469	8.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$564,510
Total Liabilities	$0
Net Assets	$564,510

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$3,469	$0

990-PF

Filed on Oct. 7, 2019

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2018

Revenue

$25,596

Expenses

$15,793

Net Income

$9,803

Net Assets

$579,832

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,570	6.1%
Dividends	$19,706	77.0%
Sales of Assets	$4,320	16.9%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$12,236	77.5%
Compensation of Officers*	$3,557	22.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$579,832
Total Liabilities	$0
Net Assets	$579,832

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$3,557	$0

990-PF

Filed on July 25, 2018

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2017

Revenue

$22,425

Expenses

$37,790

Net Income

-$15,365

Net Assets

$570,029

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,283	5.7%
Dividends	$19,297	86.1%
Sales of Assets	$1,845	8.2%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$34,695	91.8%
Compensation of Officers*	$3,095	8.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$570,029
Total Liabilities	$0
Net Assets	$570,029

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$3,095	$0

990-PF

Filed on Aug. 15, 2017

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2016

Revenue

$22,899

Expenses

$32,337

Net Income

-$9,438

Net Assets

$585,394

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$15,055	65.7%
Dividends	$4,939	21.6%
Sales of Assets	$2,905	12.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$28,141	87.0%
Compensation of Officers*	$4,196	13.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$585,394
Total Liabilities	$0
Net Assets	$585,394

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$4,196	$0

990-PF

Filed on Aug. 1, 2016

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2015

Revenue

$25,180

Expenses

$50,709

Net Income

-$25,529

Net Assets

$594,832

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$933	3.7%
Dividends	$24,247	96.3%
Sales of Assets	$0
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$49,304	97.2%
Compensation of Officers*	$1,405	2.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$594,832
Total Liabilities	$0
Net Assets	$594,832

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,405	$0

990-PF

Filed on Sept. 21, 2015

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Fiscal Year Ending June
2014

Revenue

$31,511

Expenses

$8,848

Net Income

$22,663

Net Assets

$620,361

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2,247	7.1%
Dividends	$29,259	92.9%
Sales of Assets	$5	0.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$6,943	78.5%
Compensation of Officers*	$1,905	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	$620,361
Total Liabilities	$0
Net Assets	$620,361

Compensation

Key Employees and Officers	Compensation	Other
Citizens First National Bank (Trustee)	$1,905	$0

990-PF

Filed on Oct. 8, 2014

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2013

Revenue

$23,645

Expenses

$5,155

Net Income

$18,490

Net Assets

$597,697

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1,783	7.5%
Dividends	$21,857	92.4%
Sales of Assets	$5	0.0%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$4,251	82.5%
Compensation of Officers*	$904	17.5%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$597,698
Total Liabilities	$1
Net Assets	$597,697

990-PF

Filed on Sept. 26, 2013

Primary tax return for a private foundation's activities, finances, and governance

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Fiscal Year Ending June
2012

Revenue

$26,576

Expenses

$19,831

Net Income

$6,745

Net Assets

$579,207

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$3	0.0%
Dividends	$24,832	93.4%
Sales of Assets	$1,741	6.6%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$18,766	94.6%
Compensation of Officers*	$1,065	5.4%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$579,208
Total Liabilities	$1
Net Assets	$579,207

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 Trust

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $41.4k (2025)

Expenses $31.1k (2025)

Total Assets $553k (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

$41.4k (2025)

Expenses

$31.1k (2025)

Total Assets

$553k (2025)

Total Liabilities

$0 (2025)

Fiscal Year Ending June
2025

Fiscal Year Ending June
2024

Fiscal Year Ending June
2023

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2022

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2021

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2020

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2019

Fiscal Year Ending June
2018

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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

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2011

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2010

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2009

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2008

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2007

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2006

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2005

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2004

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2003

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2002