Iaa Foundation
- Assets
- $8.5m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomington, IL
- Founding
- 10/1987
- Data as of
- 12/2021
- EIN
- 37-1211315
Organization Overview
Iaa Foundation is located in Bloomington, IL. The organization was established in 1987. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iaa 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, Iaa Foundation generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $898.7k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (8.5%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Iaa Foundation has awarded 490 individual grants totaling $4,420,986. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO FUND EDUCATION, RESEARCH, AND CHARITABLE ACTIVITIES THAT BENEFIT ILLINOIS FARM FAMILIES AND AGRICULTURE.
Describe the Organization's Program Activity:
THE ORGANIZATION PROVIDES FUNDS TO HELP EDUCATE ELEMENTARY SCHOOL STUDENTS AND TEACHERS ABOUT THE IMPORTANCE OF AGRICULTURE.
THE ORGANIZATION PROVIDES SCHOLARSHIPS TO STUDENTS ATTENDING A COLLEGE, UNIVERSITY OR VOCATIONAL SCHOOL AND WHO ARE SEEKING EDUCATION IN AN AGRICULTURAL RELATED FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Guebert Jr President | OfficerTrustee | 0.25 | $0 |
Brian Duncan Vice President | OfficerTrustee | 0.25 | $0 |
Tammy Halterman Treasurer | OfficerTrustee | 0.25 | $0 |
Alan Dodds Ass't Treasurer | Officer | 2 | $0 |
Susan Moore Director | Officer | 40 | $0 |
Jennifer Vance Ass't Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $72,619 |
| Related organizations | $221,500 |
| Government grants | $241,675 |
| All other contributions, gifts, grants, and similar amounts not included above | $507,395 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,043,189 |
| Total Program Service Revenue | $0 |
| Investment income | $165,500 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $19,168 |
| Net Gain/Loss on Asset Sales | $100,714 |
| Net Income from Fundraising Events | $1,944 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $23,605 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,354,120 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $613,610 |
| Grants and other assistance to domestic individuals. | $255,055 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $1,811 |
| Insurance | $3,902 |
| All other expenses | $0 |
| Total functional expenses | $898,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $62,122 |
| Savings and temporary cash investments | $557,360 |
| Pledges and grants receivable | $163,025 |
| Accounts receivable, net | $17,425 |
| 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 | $1,620 |
| Net Land, buildings, and equipment | $3,690,864 |
| Investments—publicly traded securities | $4,001,823 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,494,239 |
| Accounts payable and accrued expenses | $53 |
| 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 | $4,774 |
| Total liabilities | $4,827 |
| Net assets without donor restrictions | $4,865,890 |
| Net assets with donor restrictions | $3,623,522 |
| 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 | $8,494,239 |
Grants Awarded
Over the last fiscal year, Iaa Foundation has awarded $613,610 in support to 69 organizations.
| Grant Recipient | Amount |
|---|---|
Urbana, IL PURPOSE: Ag Literacy | $38,984 |
Springfield, IL PURPOSE: Ag Literacy | $22,740 |
SALINE CFB FOUNDATION PURPOSE: Ag Literacy | $14,007 |
Martinsville, IL PURPOSE: Ag Literacy | $9,343 |
Rockford, IL PURPOSE: Ag Literacy | $9,343 |
Mount Carmel, IL PURPOSE: Ag Literacy | $9,343 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Iaa Foundation has recieved totaling $5,297.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,297 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Farm Bureau Federation West Des Moines, IA | $1,514,260,280 | $86,995,533 |
American Soybean Association St Louis, MO | $22,612,610 | $31,372,473 |
Iowa Corn Promotion Board Johnston, IA | $28,871,996 | $24,524,776 |
Iowa Corn Growers Association Johnston, IA | $20,295,827 | $19,989,952 |
National Corn Growers Association Chesterfield, MO | $16,422,383 | $19,831,099 |
Midwest Oper Engineers Construction Industry Research & Serv Tr Fund Countryside, IL | $12,085,029 | $17,769,884 |
Illinois Soybean Board Bloomington, IL | $24,441,630 | $21,800,549 |
Food Export Association Of The Midwest Usa Chicago, IL | $3,109,779 | $15,548,836 |
Illinois Corn Marketing Board Bloomington, IL | $11,624,886 | $11,889,515 |
Kentucky Farm Bureau Federation Louisville, KY | $26,799,792 | $14,351,168 |
Illinois Farm Business Farm Management Association Urbana, IL | $13,036,050 | $15,163,165 |
Indiana Farm Bureau Indianapolis, IN | $22,690,251 | $11,074,675 |