Iowa Farm Business Association
- Assets
- $650.8k
- Revenue
- $220.5k
- Investments
- $0.0
- Employees
- 3
- Location
- Ames, IA
- Founding
- 06/1970
- Data as of
- 06/2022
- 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 06/2022, 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 06/2022, Iowa Farm Business Association generated $220.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (6.7%) each year. All expenses for the organization totaled $121.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 2 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
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 | $38,428 |
Jim Hawkins Director | Trustee | 0.5 | $0 |
Russ Richard Director | Trustee | 0.5 | $0 |
David Lubben Director | Trustee | 0.5 | $0 |
David Swailes Director, VP | OfficerTrustee | 0.5 | $0 |
Roger Kempers 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 | $39,451 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,451 |
| Total Program Service Revenue | $180,627 |
| Investment income | $423 |
| 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 | $220,501 |
| 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. | $43,768 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $26,366 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $15,547 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,199 |
| Office expenses | $6,656 |
| Information technology | $4,507 |
| Royalties | $0 |
| Occupancy | $4,698 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,545 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,372 |
| Insurance | $390 |
| All other expenses | $0 |
| Total functional expenses | $121,803 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $194,043 |
| Savings and temporary cash investments | $272,619 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,755 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,004 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $26,573 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $58,790 |
| Total assets | $650,784 |
| Accounts payable and accrued expenses | $117 |
| 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 | $1 |
| Total liabilities | $118 |
| 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 | $650,666 |
| Total liabilities and net assets/fund balances | $650,784 |