Iowa Institute For Cooperatives
- Assets
- $1.1m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Ames, IA
- Founding
- 09/1952
- Data as of
- 05/2024
- EIN
- 42-0711488
Organization Overview
Iowa Institute For Cooperatives is located in Ames, IA. The organization was established in 1952. According to its NTEE Classification (K03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 05/2024, Iowa Institute For Cooperatives employed 4 individuals. This organization is the central organization for a national or regional group of organizations. Iowa Institute For Cooperatives is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 05/2024, Iowa Institute For Cooperatives generated $1.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $998.5k during the year ending 05/2024. While expenses have increased by 2.9% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE OBJECTIVE, POWERS, AND PURPOSES OF THIS ASSOCIATION SHALL BE TO ASSOCIATE THE MEMBERS THEREOF TOGETHER INTO A SOCIETY FOR THE PURPOSE OF PROMOTING THE INTERESTS AND WELFARE OF IOWA COOPERATIVES BY ANY APPROPRIATE MEANS AND TO EDUCATE AND BRING ABOUT A BETTER UNDERSTANDING OF THE COOPERATIVE TYPE OF BUSINESS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COOPERATIVES PROVIDE A PROVEN BUSINESS MODEL THAT HAS FOSTERED ECONOMIC PROGRESS IN IOWA FOR DECADES. THE IOWA INSTITUTE FOR COOPERATIVES (IIC) HAS BEEN LIGHTING THE WAY FOR COOPERATIVES ACROSS THE STATE SINCE 1951.OUR MEMBERS COME FROM A VARIETY OF INDUSTRIES, INCLUDING AGRICULTURE, CREDIT UNIONS, RURAL ELECTRIC, RURAL TELEPHONE, FARM CREDIT, PETROLEUM, AND MORE. WE DEVELOP EDUCATIONAL AND TRAINING PROGRAMS FOR OUR MEMBERS, PROVIDE TIMELY NEWS UPDATES, AND GUIDE LEGISLATIVE ACTIONS THAT BUILD UPON THE STRENGTH OF THE COOPERATIVE SYSTEM. WE ALSO PROMOTE NEW COOPERATIVE DEVELOPMENT AND VALUE-ADDED PRODUCTION.COOPERATIVES ALSO RELY ON US FOR SPECIAL PROJECTS, INCLUDING:(CONTINUE) - ASSISTANCE WITH BOARD RETREATS, LONG-RANGE PLANNING, MERGERS, CONSOLIDATIONS, ACQUISITIONS, AND CORPORATE RESTRUCTURING. - RESOURCES TO HELP DEVELOP NEW COOPERATIVES, INCLUDING INITIAL START-UP PLANS, FEASIBILITY STUDIES, PROJECT COORDINATION, AND RESULTS ANALYSIS. - COOPERATIVE BENCHMARKING THAT PROVIDES TIMELY UPDATES TO FINANCIAL PERFORMANCE BENCHMARKS FOR GRAIN AND FARM SUPPLY COOPERATIVES THROUGHOUT THE MIDWEST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doyle Anderson President | OfficerTrustee | 0.6 | $1,450 |
Ruben Skow Vice President | OfficerTrustee | 0.6 | $1,200 |
Dan Dietzenbach Secretary | OfficerTrustee | 0.6 | $1,450 |
Brian Larsen Director | Trustee | 0.6 | $1,200 |
Ed Anderson Director | Trustee | 0.6 | $1,000 |
Terry Panbecker Director | Trustee | 0.6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,050,179 |
| Investment income | $48,121 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,098,455 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $252,342 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $288,873 |
| Pension plan accruals and contributions | $22,525 |
| Other employee benefits | $32,004 |
| Payroll taxes | $37,779 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $960 |
| Fees for services: Accounting | $5,600 |
| Fees for services: Lobbying | $15,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,727 |
| Office expenses | $24,261 |
| Information technology | $11,819 |
| Royalties | $0 |
| Occupancy | $4,127 |
| 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 | $4,135 |
| Depreciation, depletion, and amortization | $26,540 |
| Insurance | $12,554 |
| All other expenses | $28,178 |
| Total functional expenses | $998,462 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $177,265 |
| Savings and temporary cash investments | $482,146 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $13,984 |
| Net Land, buildings, and equipment | $13,418 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $458,079 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,144,892 |
| Accounts payable and accrued expenses | $32,110 |
| 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 | $18,257 |
| Total liabilities | $50,367 |
| Net assets without donor restrictions | $1,094,525 |
| 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 | $1,144,892 |