Iowa Sports Foundation
- Assets
- $1.3m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 14
- Location
- Ames, IA
- Founding
- 02/1988
- Data as of
- 09/2023
- EIN
- 42-1278326
Organization Overview
Iowa Sports Foundation is located in Ames, IA. The organization was established in 1988. According to its NTEE Classification (N12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Iowa Sports Foundation employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Sports Foundation 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 09/2023, Iowa Sports Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $1.6m during the year ending 09/2023. 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
TO PROVIDE SPORTS, RECREATION, HEALTH AND WELLNESS OPPORTUNITIES FOR IOWANS OF ALL ABILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ISF IS COMPRISED OF THE IOWA GAMES, LIVE HEALTHY IOWA, ADAPTIVE SPORTS IOWA AND THE IOWA SENIOR GAMES. TO PROMOTE AMATEUR SPORTS WITHIN THE STATE OF IOWA; HOST OLYMPIC-STYLE FESTIVALS AND COMPETITIONS; CREATE AWARENESS, EMPHASIZE AND EDUCATE IOWANS CONCERNING THE NUMEROUS BENEFITS OF GOOD HEALTH, PHYSICAL FITNESS, SPORTSMANSHIP AND COMPETITION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Blake Boldon Director | Trustee | 0.5 | $0 |
Tom Keating Director | Trustee | 0.5 | $0 |
Chris Verlengia Vice President | Trustee | 0.5 | $0 |
Lynn Walz Treasurer | Trustee | 0.5 | $0 |
Jess Vilsack Past Chair | Trustee | 0.5 | $0 |
Barb Baker Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $89,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $661,088 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $750,388 |
| Total Program Service Revenue | $655,301 |
| Investment income | $11,902 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,970 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,590 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $136,018 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,648,618 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,000 |
| 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. | $178,167 |
| Compensation of current officers, directors, key employees. | $17,816 |
| Compensation to disqualified persons | $484,080 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $47,653 |
| Payroll taxes | $38,520 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $24,405 |
| Advertising and promotion | $160,104 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,637 |
| Travel | $49,758 |
| 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 | $15,793 |
| Insurance | $29,924 |
| All other expenses | $47,069 |
| Total functional expenses | $1,632,342 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $236,738 |
| Savings and temporary cash investments | $285,865 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,994 |
| 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 | $7,564 |
| Net Land, buildings, and equipment | $81,912 |
| Investments—publicly traded securities | $299,564 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $358,162 |
| Total assets | $1,281,799 |
| Accounts payable and accrued expenses | $21,540 |
| Grants payable | $0 |
| Deferred revenue | $51,000 |
| 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 | $72,540 |
| Net assets without donor restrictions | $1,177,643 |
| Net assets with donor restrictions | $31,616 |
| 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 | $1,281,799 |