Iowa State Aberdeen Angus Breeders Association
- Assets
- $162.8k
- Revenue
- $496.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Boone, IA
- Founding
- 11/1990
- Data as of
- 12/2022
- EIN
- 42-0733448
Organization Overview
Iowa State Aberdeen Angus Breeders Association is located in Boone, IA. The organization was established in 1990. According to its NTEE Classification (D60) the organization is classified as: Animal Services N.E.C., under the broad grouping of Animal-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa State Aberdeen Angus Breeders Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2022, Iowa State Aberdeen Angus Breeders Association generated $496.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.2%) each year. All expenses for the organization totaled $474.4k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AND IMPROVE THROUGH EDUCATION THE ABERDEEN ANGUS BREED OF CATTLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BEEF EXPOSITION - EACH FEBRUARY, IOWA ANGUS HOLDS A BEEF EXPOSITION FOR MEMBERS OF THE ASSOCIATION TO BRING THEIR CATTLE TO SHOW AND SELL TO BEEF BUYERS.
BULL TESTING - EACH MARCH, THE ASSOCIATION HOLDS A SHOW TO TEST MEMBERS BULLS FOR PERFORMANCE AND GENETICS.
GENERAL PROMOTION/DIRECTORY & NEWSPAPER - EVERY WEEKEND IN JUNE, THE ASSOCIATION HOLDS CATTLE SHOWS FOR JUNIOR MEMBERS (TEENAGERS) TO SHOW THEIR CATTLE AND HELP THEM GO TO THE NATIONAL CATTLE CONVENTION. THEY ALSO PROVIDE ONE JUNIOR WITH A $500 SCHOLARSHIP TOWARD THE PURCHASE OF A HEIFER. A DIRECTORY IS PRINTED EACH YEAR WITH MEMBERS NAMES AND CONTACT INFORMATION WHICH IS DISTRIBUTED TO MEMBERS AND BEEF BUYERS. APPROXIMATELY 6,000 DIRECTORIES ARE PUBLISHED. A NEWSPAPER IS PRINTED SIX TIMES A YEAR WITH INFORMATION ON THE ANGUS BREED OF CATTLE AND MEMBER INFORMATION ABOUT THE ASSOCIATION SUCH AS MINUTES OF THE LAST MEETING AND UPCOMING ASSOCIATION EVENTS. THESE ARE DISTRIBUTED TO MEMBERS AND BUYERS WITH APPROXIMATELY 4,500 COPIES PRINTED. MEMBERS ALSO ATTEND TRADE SHOWS AND FAIRS TO PROMOTE THE ANGUS BREED OF CATTLE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tricia Holmes Past Secretary | OfficerTrustee | 20 | $23,229 |
Lauren Britton Secretary | OfficerTrustee | 10 | $12,700 |
Colby Holmes Past Secretary | OfficerTrustee | 10 | $11,220 |
Bubba Chapman President | OfficerTrustee | 1 | $0 |
John Prasil Vice President | OfficerTrustee | 1 | $0 |
Ed Wiederstein Past President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $12,703 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,710 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,413 |
| Total Program Service Revenue | $481,793 |
| Investment income | $918 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$2,296 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $496,828 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $46,849 |
| Compensation of current officers, directors, key employees. | $12,000 |
| 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 | $2,076 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,303 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,034 |
| 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 | $0 |
| Insurance | $836 |
| All other expenses | $15,544 |
| Total functional expenses | $474,426 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,746 |
| Savings and temporary cash investments | $97,796 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,246 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $162,788 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $162,788 |
| 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 | $162,788 |