Iowa Golf Association Foundation
- Assets
- $1.5m
- Revenue
- $967.2k
- Investments
- $578.6k
- Employees
- 0
- Location
- Ankeny, IA
- Founding
- 12/2010
- Data as of
- 12/2021
- EIN
- 27-1856546
Organization Overview
Iowa Golf Association Foundation is located in Ankeny, IA. The organization was established in 2010. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Golf Association Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Iowa Golf Association Foundation generated $967.2k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.7% each year . All expenses for the organization totaled $96.7k during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE IOWA GOLF ASSOCIATION FOUNDATION PRESERVES, PROTECTS AND PROMOTES THE BEST INTERESTS AND SPIRIT OF THE GAME OF GOLF. IT'S MOST SIGNIFICANT ACTIVITIES ARE THE GENERATION OF TAX DEDUCTIBLE CONTRIBUTIONS TO FUND ITS CHARITABLE PURPOSES WHICH INCLUDE THE GRANTING OF COLLEGE SCHOLARSHIPS, ADMINISTERING THE IOWA GOLF HALL OF FAME AND SUPPORTING JUNIOR GOLF, TURFGRASS RESEARCH, AND OTHER PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARD HERMAN SANI COLLEGE SCHOLARSHIPS - FOUR 4-YEAR SCHOLARSHIPS ARE AWARDED EACH YEAR.AWARD ANN GRIFFEL COLLEGE SCHOLARSHIPS - FIVE 1-YEAR SCHOLARSHIPS ARE AWARDED EACH YEAR.
IOWA GOLF HALL OF FAME - APPROXIMATELY 135 PEOPLE ATTENDED THE 2021 INDUCTION CEREMONY WHERE SIX NEW MEMBERS WERE INDUCTED.
THE ORGANIZATION MADE GRANTS TO SUPPORT TURFGRASS RESEARCH AND JUNIOR GOLF PROGRAMS AND RECEIVED MEMBERSHIP REVENUE FROM ITS YOUTH ON COURSE JUNIOR GOLF PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Jermier President & Director | OfficerTrustee | 1 | $0 |
Mark Gambaiana Secretary & Director | OfficerTrustee | 1 | $0 |
John Matovina Treasurer & Director | OfficerTrustee | 1 | $0 |
Charles Taylor Vice President & Director | OfficerTrustee | 1 | $0 |
Chad Pitts Executive Director | Officer | 5 | $0 |
Mike Pape Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $30,893 |
| Related organizations | $7,415 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $870,970 |
| Noncash contributions included in lines 1a–1f | $247,580 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $909,278 |
| Total Program Service Revenue | $13,249 |
| Investment income | $12,889 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $31,709 |
| Net Income from Fundraising Events | $103 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $967,228 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,000 |
| Grants and other assistance to domestic individuals. | $42,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $15,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,140 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,850 |
| Fees for services: Other | $4,500 |
| Advertising and promotion | $0 |
| Office expenses | $2,995 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,028 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $286 |
| Insurance | $0 |
| All other expenses | $604 |
| Total functional expenses | $96,695 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,475 |
| Savings and temporary cash investments | $904,563 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,775 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,000 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $578,604 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,862 |
| Total assets | $1,508,279 |
| Accounts payable and accrued expenses | $18 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $18 |
| Net assets without donor restrictions | $1,508,261 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,508,279 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Iowa Golf Association Foundation has recieved totaling $188,000.
| Awarding Organization | Amount |
|---|---|
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION -2020 GIFT | $100,000 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: MARSHALLTOWN MURAL PROGRAM'S FIRST MURAL (CFMC) | $50,000 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION FOR THE CAPITAL CAMPAIGN | $25,000 |
Voorhees Family Foundation Cedar Falls, IA PURPOSE: CAPITAL PROJECT | $9,000 |
Kenneth K Kinsey Family Foundation Iowa City, IA PURPOSE: HERMAN SANI SCHOLARSHIP FUND | $2,500 |
Kenneth K Kinsey Family Foundation Iowa City, IA PURPOSE: GENERAL OPERATING FUND | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
AbbVie Employee Assistance Fund Inc North Chicago, IL | $0 | $8,759,468 |
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Alfred I Dupont Awards Foundation Chicago, IL | $0 | $4,985,997 |
Accenture Foundation Inc Chicago, IL | $134,926,823 | $15,596,009 |
Rooted Alliance Inc Chicago, IL | $2,335,555 | $4,487,602 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Cleveland Avenue Foundation For Education Group Chicago, IL | $12,236,345 | $15,309,295 |
Western Illinois Regional Council Community Action Agency Macomb, IL | $2,081,443 | $6,378,655 |
Foundation For Educational Funding Lincoln, NE | $161,530,703 | $9,132,107 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Guaranteed Rate Foundation Nfp Chicago, IL | $1,798,790 | $5,812,096 |