Iowa Farm Business Association
- Assets
- $555.0k
- Revenue
- $253.4k
- Investments
- $0.0
- Employees
- 3
- Location
- Ames, IA
- Founding
- 06/1970
- Data as of
- 06/2021
- EIN
- 42-0943984
Organization Overview
Iowa Farm Business Association is located in Ames, IA. The organization was established in 1970. According to its NTEE Classification (K28) the organization is classified as: Farm Bureaus & Granges, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2021, Iowa Farm Business Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Farm Business 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 06/2021, Iowa Farm Business Association generated $253.4k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $130.7k during the year ending 06/2021. 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
PROVIDE TRAINING & DEVELPEMNT TOOLS FOR LOCAL CONSULTANTS WHO PROMOTE RECORD KEEPING AN FARM MANAGEMNT SKILLS IN COOPERATION WITH IOWA STATE UNIVERSITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP-PROMOTION OF MEMBERSHIP & SERVICE DEVELOPEMENT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kent Vickre Executive Direc | OfficerTrustee | 60 | $34,652 |
Steve Berger Director, Pres. | OfficerTrustee | 0.5 | $0 |
Gregg Hora Director | OfficerTrustee | 0.5 | $0 |
David Swailes Director, VP | OfficerTrustee | 0.5 | $0 |
Roger Kempers Director | Trustee | 0.5 | $0 |
Jim Hawkins Director | Trustee | 0.5 | $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 | $25,582 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,582 |
| Total Program Service Revenue | $226,620 |
| Investment income | $1,151 |
| 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 | $253,353 |
| 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. | $36,264 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $20,326 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,413 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,788 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,061 |
| Office expenses | $5,612 |
| Information technology | $15,211 |
| Royalties | $0 |
| Occupancy | $4,370 |
| Travel | $60 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,906 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,153 |
| Insurance | $390 |
| All other expenses | $0 |
| Total functional expenses | $130,738 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $201,631 |
| Savings and temporary cash investments | $172,235 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $86,596 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,804 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $30,945 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,790 |
| Total assets | $555,001 |
| Accounts payable and accrued expenses | $3,033 |
| 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 | $3,033 |
| Net assets without donor restrictions | $0 |
| 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 | $551,968 |
| Total liabilities and net assets/fund balances | $555,001 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
German Farmers Mutual Assessment Insurance Assoc Of Hall County Inc Cairo, NE | $1,959,468 | $2,974,512 |
Iowa-Nebraska Farm Equipment Association Inc Johnston, IA | $8,633,028 | $3,095,740 |
Buffalo County Agricultural Association Kearney, NE | $14,912,793 | $2,842,209 |
South Dakota Farm Bureau Federation Huron, SD | $2,922,262 | $2,176,457 |
Dekalb County Farm Bureau Sycamore, IL | $2,798,652 | $1,236,356 |
National Assn Of Farm Broadcasters Platte City, MO | $5,376,583 | $1,403,716 |
Fox Valley Cooperative Farm Management Association Appleton, WI | $1,517,902 | $1,296,929 |
Mississippi Valley Farm Bus Assn Fairfield, IA | $0 | $944,274 |
Farm Equipment Manufacturers Association Saint Louis, MO | $4,847,175 | $923,223 |
Central Iowa Farm Business Assn Jefferson, IA | $566,912 | $990,824 |
Fayette County Agricultural Society West Union, IA | $1,416,189 | $1,190,275 |
Morgan County Agricultural Fair Association Jacksonville, IL | $905,083 | $1,324,759 |