Iowa Turkey Federation Inc
- Assets
- $540.2k
- Revenue
- $483.7k
- Investments
- $0.0
- Employees
- 8
- Location
- Ames, IA
- Founding
- 06/1974
- Data as of
- 12/2022
- EIN
- 42-0815721
Organization Overview
Iowa Turkey Federation Inc is located in Ames, IA. The organization was established in 1974. According to its NTEE Classification (K26) the organization is classified as: Animal Husbandry, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2022, Iowa Turkey Federation Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Turkey Federation Inc 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 Turkey Federation Inc generated $483.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $484.6k during the year ending 12/2022. While expenses have increased by 7.0% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE IOWA TURKEY FEDERATION REPRESENTS, SUPPORTS, AND PROMOTES THE TURKEY INDUSTRY AND ITS MEMBERS. THE FEDERATION COORDINATES AND ORGANIZES EDUCATIONAL AND PROMOTIONAL ACTIVITIES FOR THE TURKEY INDUSTRY BETWEEN THEIR MEMBERS AS WELL AS THE INDUSTRY'S RELATIONSHIP WITH THE GENERAL PUBLIC, GOVERNMENTAL AND EDUCATIONAL ENTITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE EDUCATIONAL WORK AND DEVELOP THE INTEREST OF THE TURKEY INDUSTRY FOR THE GENERAL BETTERMENT OF SUCH INDUSTRY. TO PROVIDE A MEANS OF COOPERATION WITH FEDERAL AND STATE GOVERNMENTS AND ALL EDUCATIONAL INSTITUTIONS IN MATTERS OF GENERAL CONCERN OF THE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Slinger President | OfficerTrustee | 2 | $0 |
Brad Moline Vice-President | OfficerTrustee | 2 | $0 |
Lynn Schable Past-President | Trustee | 1 | $0 |
Brandon Achen Director | Trustee | 1 | $0 |
Josh Berg Director | Trustee | 1 | $0 |
Tanner Evans Director | Trustee | 1 | $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 | $61,148 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,148 |
| Total Program Service Revenue | $395,592 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,060 |
| Net Gain/Loss on Asset Sales | $2,451 |
| Net Income from Fundraising Events | $270 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $483,687 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $33,500 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $161,411 |
| Pension plan accruals and contributions | $4,466 |
| Other employee benefits | $7,135 |
| Payroll taxes | $12,328 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $442 |
| Fees for services: Accounting | $5,360 |
| 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 | $5,292 |
| Office expenses | $3,590 |
| Information technology | $2,144 |
| Royalties | $0 |
| Occupancy | $11,920 |
| Travel | $9,214 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $59,183 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $27,032 |
| Insurance | $7,384 |
| All other expenses | $4,778 |
| Total functional expenses | $484,583 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $245,720 |
| Savings and temporary cash investments | $10,921 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $36,294 |
| 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 | $3,094 |
| Net Land, buildings, and equipment | $244,187 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $540,216 |
| Accounts payable and accrued expenses | $7,075 |
| 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 | $7,075 |
| Net assets without donor restrictions | $522,649 |
| Net assets with donor restrictions | $10,492 |
| 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 | $540,216 |
Grants Awarded
Over the last fiscal year, Iowa Turkey Federation Inc has awarded $33,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
COALITION TO SUPPORT IOWA'S FARMERS PURPOSE: ASSIST MISSION | $7,500 |
IOWA STATE UNIVERSITY FOUNDATION PURPOSE: ASSIST MISSION | $20,000 |
IOWA AGRICULTURE LITERACY FOUNDATION PURPOSE: ASSIST MISSION | $6,000 |