Michels Fam Educational Tr

Muscatine, IA
Tax-exempt since Aug. 1998
EIN: 42-6570941

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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: Philanthropy, Voluntarism and Grantmaking Foundations / Private Grantmaking Foundations (NTEE)

Donations to this organization are tax deductible.

Revenue

$9.27k (2024)

Expenses

$13.6k (2024)

Total Assets

$289k (2024)

Total Liabilities

$0 (2024)

Source: Form 990 tax filings from 2011 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

Revenue

$9,270

Expenses

$13,606

Net Income

-$4,336

Net Assets

$289,032

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$708	7.6%
Dividends	$8,567	92.4%
Sales of Assets	-$1,380
Other Income	$1,375	14.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$2,978	21.9%
Compensation of Officers*	$3,256	23.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$289,032
Total Liabilities	$0
Net Assets	$289,032

Compensation

Key Employees and Officers	Compensation	Other
Midwestone Bank (Trustee)	$0	$0

990-PF

Filed on March 23, 2025

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

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Fiscal Year Ending Dec.
2023

Revenue

$90,187

Expenses

$17,363

Net Income

$72,824

Net Assets

$295,897

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$963	1.1%
Dividends	$7,463	8.3%
Sales of Assets	$81,761	90.7%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$15,861	91.3%
Compensation of Officers*	$3,004	17.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$295,897
Total Liabilities	$0
Net Assets	$295,897

Compensation

Key Employees and Officers	Compensation	Other
Midwestone Bank (Trustee)	$0	$0

990-PF

Filed on Sept. 25, 2024

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

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Fiscal Year Ending Dec.
2022

Revenue

$17,755

Expenses

$18,587

Net Income

-$832

Net Assets

$237,164

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$534	3.0%
Dividends	$6,065	34.2%
Sales of Assets	$6,873	38.7%
Other Income	$4,283	24.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$16,981	91.4%
Compensation of Officers*	$3,213	17.3%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$237,164
Total Liabilities	$0
Net Assets	$237,164

Compensation

Key Employees and Officers	Compensation	Other
Midwestone Bank (Trustee)	$0	$0

990-PF

Filed on May 3, 2023

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

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Fiscal Year Ending Dec.
2021

Revenue

$20,205

Expenses

$35,294

Net Income

-$15,089

Net Assets

$225,613

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$654	3.2%
Dividends	$8,953	44.3%
Sales of Assets	$10,598	52.5%
Other Income	$0

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$33,590	95.2%
Compensation of Officers*	$3,407	9.7%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$225,613
Total Liabilities	$0
Net Assets	$225,613

Compensation

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

990-PF

Filed on May 18, 2022

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

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Fiscal Year Ending Dec.
2020

Revenue

$18,265

Expenses

$11,318

Net Income

$6,947

Net Assets

$240,710

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$777	4.3%
Dividends	$5,464	29.9%
Sales of Assets	$6,274	34.3%
Other Income	$5,750	31.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$9,816	86.7%
Compensation of Officers*	$2,931	25.9%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$240,711
Total Liabilities	$1
Net Assets	$240,710

Compensation

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

990-PF

Filed on May 10, 2021

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

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Fiscal Year Ending Dec.
2019

Revenue

$16,118

Expenses

$16,872

Net Income

-$754

Net Assets

$240,237

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$556	3.4%
Dividends	$7,152	44.4%
Sales of Assets	$910	5.6%
Other Income	$7,500	46.5%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$12,650	75.0%
Compensation of Officers*	$2,872	17.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$240,238
Total Liabilities	$1
Net Assets	$240,237

Compensation

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

990-PF

Filed on March 24, 2020

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

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Fiscal Year Ending Dec.
2018

Revenue

$15,905

Expenses

$18,818

Net Income

-$2,913

Net Assets

$242,816

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,749	42.4%
Sales of Assets	$5,156	32.4%
Other Income	$4,000	25.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$15,994	85.0%
Compensation of Officers*	$2,968	15.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$242,816
Total Liabilities	$0
Net Assets	$242,816

Compensation

Key Employees and Officers	Compensation	Other
First National Bank (Trustee)	$2,870	$0

990-PF

Filed on March 21, 2019

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

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Fiscal Year Ending Dec.
2017

Revenue

$11,360

Expenses

$18,402

Net Income

-$7,042

Net Assets

$247,160

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,066	53.4%
Sales of Assets	$3,294	29.0%
Other Income	$2,000	17.6%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$16,185	88.0%
Compensation of Officers*	$2,870	15.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$247,160
Total Liabilities	$0
Net Assets	$247,160

Compensation

Key Employees and Officers	Compensation	Other
First National Bank (Trustee)	$2,870	$0

990-PF

Filed on Feb. 23, 2018

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

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Fiscal Year Ending Dec.
2016

Revenue

$8,500

Expenses

$19,717

Net Income

-$11,217

Net Assets

$253,911

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$18	0.2%
Dividends	$6,190	72.8%
Sales of Assets	$772	9.1%
Other Income	$1,520	17.9%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$17,733	89.9%
Compensation of Officers*	$2,767	14.0%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$253,911
Total Liabilities	$0
Net Assets	$253,911

Compensation

Key Employees and Officers	Compensation	Other
First National Bank Of Muscatine Michael Wilson (Trustee)	$2,767	$0

990-PF

Filed on Sept. 13, 2017

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

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Fiscal Year Ending Dec.
2015

Revenue

$13,876

Expenses

$23,960

Net Income

-$10,084

Net Assets

$265,128

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1	0.0%
Dividends	$6,420	46.3%
Sales of Assets	$2,830	20.4%
Other Income	$4,625	33.3%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$20,967	87.5%
Compensation of Officers*	$2,915	12.2%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$265,128
Total Liabilities	$0
Net Assets	$265,128

Compensation

Key Employees and Officers	Compensation	Other
First National Bank Of Muscatine Michael Wilson (Trustee)	$2,915	$0
Michael Wilson (Trust Mgr)	$0	$0

990-PF

Filed on July 19, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$62,951

Expenses

$27,643

Net Income

$35,308

Net Assets

$275,212

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$2	0.0%
Dividends	$6,282	10.0%
Sales of Assets	$46,748	74.3%
Other Income	$9,919	15.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$25,561	92.5%
Compensation of Officers*	$2,925	10.6%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$275,212
Total Liabilities	$0
Net Assets	$275,212

Compensation

Key Employees and Officers	Compensation	Other
First National Bank Muscatine (Trustee)	$2,925	$0

990-PF

Filed on May 14, 2015

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

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Fiscal Year Ending Dec.
2013

Revenue

$18,427

Expenses

$26,289

Net Income

-$7,862

Net Assets

$239,904

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$1	0.0%
Dividends	$6,668	36.2%
Sales of Assets	$10,508	57.0%
Other Income	$1,250	6.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$23,584	89.7%
Compensation of Officers*	$2,832	10.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$239,904
Total Liabilities	$0
Net Assets	$239,904

Compensation

Key Employees and Officers	Compensation	Other
First National Bank Muscatine (Trustee)	$2,832	$0

990-PF

Filed on May 14, 2014

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

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Fiscal Year Ending Dec.
2012

Revenue

$14,046

Expenses

$13,437

Net Income

$609

Net Assets

$247,765

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$7,497	53.4%
Sales of Assets	$3,299	23.5%
Other Income	$3,250	23.1%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$11,682	86.9%
Compensation of Officers*	$2,660	19.8%
* Officer compensation may be included in charitable disbursements, so Percent of Total Expenses may add up to greater than 100%.

Assets/Debt
Total Assets	$247,766
Total Liabilities	$1
Net Assets	$247,765

990-PF

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$9,987

Expenses

$22,250

Net Income

-$12,263

Net Assets

$247,156

Notable Sources of Revenue		Percent of Total Revenue
Contributions Received	$0
Interest Revenue	$0
Dividends	$6,012	60.2%
Sales of Assets	$0
Other Income	$3,975	39.8%

Notable Expenses		Percent of Total Expenses
Charitable Disbursements	$19,500	87.6%
Compensation of Officers*	$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	$247,157
Total Liabilities	$1
Net Assets	$247,156

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Updated January 26, 2026

Michels Fam Educational Tr

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $9.27k (2024)

Expenses $13.6k (2024)

Total Assets $289k (2024)

Total Liabilities $0 (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

990-PF

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990-PF

Compensation

Document Links

Revenue

$9.27k (2024)

Expenses

$13.6k (2024)

Total Assets

$289k (2024)

Total Liabilities

$0 (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

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2022

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2021

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2020

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2019

Fiscal Year Ending Dec.
2018

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2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
2009

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Fiscal Year Ending Dec.
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Fiscal Year Ending Dec.
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