Iowa Turfgrass Institute
- Assets
- $392.5k
- Revenue
- $299.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Ankeny, IA
- Founding
- 11/1993
- Data as of
- 03/2023
- EIN
- 42-1221206
Organization Overview
Iowa Turfgrass Institute is located in Ankeny, IA. The organization was established in 1993. As of 03/2023, Iowa Turfgrass Institute employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Turfgrass Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, Iowa Turfgrass Institute generated $299.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $281.2k during the year ending 03/2023. While expenses have increased by 2.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PURPOSE IS TO FOSTER RESEARCH, EDUCATION, AND DISSEMINATION OF INFORMATION ON TURFGRASS SO AS TO BENEFIT THE PEOPLE OF IOWA AND THE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SPONSORS AN ANNUAL CONFERENCE AND TRADESHOW FOR PROMOTION OF THE TURFGRASS INDUSTRY, EDUCATION AND RESEARCH IN IOWA.
THE ORGANIZATION SPONSORS AN ANNUAL FIELD DAY WHICH INCLUDES EDUCATIONAL SESSIONS, DEMONSTRATIONS, AND TOURS OF TURFGRASS FIELDS.
RESEARCH GRANTS AND SCHOLARSHIPS ARE AWARDED BASED ON APPLICATION AND THE SIGNIFICANCE OF THE RESEARCH OR FIELD OF STUDY TO PROMOTE BETTER TURFGRASS DEVELOPMENT IN IOWA.
THE ORGANIZATION CO-SPONSORS AN ANNUAL GOLF TOURNAMENT. ALL PROCEEDS BENEFIT SCHOLARSHIPS, RESEARCH, AND EXTENSION PROGRAMS AT IOWA STATE UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Lamoureux Executive Di | Officer | 40 | $61,692 |
Matt Kruse President | OfficerTrustee | 1 | $0 |
Brian Abels Vice Preside | OfficerTrustee | 1 | $0 |
Elliott Josephson Treasurer | OfficerTrustee | 1 | $0 |
Neric Smith Director | Trustee | 1 | $0 |
Darrin Johnson 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 | $1,700 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,700 |
| Total Program Service Revenue | $195,102 |
| Investment income | $44 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,084 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $299,910 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,750 |
| Grants and other assistance to domestic individuals. | $23,700 |
| 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 | $61,692 |
| Other salaries and wages | $17,928 |
| Pension plan accruals and contributions | $2,148 |
| Other employee benefits | $0 |
| Payroll taxes | $5,370 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,323 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,128 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,845 |
| Travel | $7,031 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $119,620 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,197 |
| All other expenses | $0 |
| Total functional expenses | $281,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,685 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $310 |
| 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 | $261,734 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,802 |
| Total assets | $392,531 |
| Accounts payable and accrued expenses | $3,392 |
| 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 | $31,950 |
| Total liabilities | $35,342 |
| Net assets without donor restrictions | $357,189 |
| 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 | $392,531 |