Iowa Automobile Dealers Foundation
- Assets
- $1.1m
- Revenue
- $55.1k
- Investments
- $0.0
- Employees
- 0
- Location
- West Des Moines, IA
- Founding
- 02/1999
- Data as of
- 05/2024
- EIN
- 42-1445192
Organization Overview
Iowa Automobile Dealers Foundation is located in West Des Moines, IA. The organization was established in 1999. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Automobile Dealers 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 05/2024, Iowa Automobile Dealers Foundation generated $55.1k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $123.1k during the year ending 05/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Iowa Automobile Dealers Foundation has awarded 33 individual grants totaling $242,406. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO INVEST IN THE FUTURE OF THE MOTOR VEHICLE SALES & SERVICE INDUSTRY THROUGH SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE IOWA AUTOMOBILE DEALERS FOUNDATION FOR EDUCATION SOLICITED APPLICATIONS FOR SCHOLARSHIPS FROM EMPLOYEES OF IOWA DEALERS, AREA HIGH SCHOOL STUDENTS, AND COMMUNITY COLLEGES THAT OFFER TRAINING IN AUTOMOTIVE TECHNOLOGIES. 15 HIGH SCHOOL GRADUATES WERE AWARDED SCHOLARSHIPS OF $3,000 EACH FOR THE 2024/25 SCHOOL YEAR. THE SCHOLARSHIPS ARE PAID UPON PROOF OF TUITION. THE IOWA AUTO DEALERS FOUNDATION FOR EDUCATION ALSO SOLICITED GRANT APPLICATIONS FROM COMMUNITY COLLEGES THAT OFFER TRAINING IN AUTOMOTIVE TECHNOLOGIES IN IOWA. 15 GRANTS WERE AWARDED RANGING FROM $1,800 TO $8,821 FOR A TOTAL OF $59,633 DURING THE YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul White President | OfficerTrustee | 1 | $0 |
Heather Mcnamara Vice-President | OfficerTrustee | 1 | $0 |
Blake Colwell Secretary-Treasurer | OfficerTrustee | 1 | $0 |
Mike Clemons Director (thru 4/2024) | Trustee | 1 | $0 |
Mark Hummel Director | Trustee | 1 | $0 |
Gary Junge 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 | $38,100 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,100 |
| Total Program Service Revenue | $0 |
| Investment income | $25,940 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$8,923 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $55,117 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $59,633 |
| Grants and other assistance to domestic individuals. | $48,250 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,395 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,721 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,831 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,250 |
| Total functional expenses | $123,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,614 |
| Savings and temporary cash investments | $2,753 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $282 |
| Investments—publicly traded securities | $1,057,310 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,077,959 |
| Accounts payable and accrued expenses | $282 |
| Grants payable | $45,000 |
| 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 | $45,282 |
| Net assets without donor restrictions | $1,032,677 |
| 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 | $1,077,959 |
Grants Awarded
Over the last fiscal year, Iowa Automobile Dealers Foundation has awarded $19,691 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
DES MOINES AREA COMMUNITY PURPOSE: AUTO TECH PROGRAM FOR A DIAGNOSTIC KIT, 4-CHANNEL SCOPE, & OPTICAL SENSOR KIT & COLLISION REPAIR PROGRAM FOR VARIOUS EQUIPMENT | $8,821 |
KIRKWOOD COMMUNITY COLLEGE PURPOSE: AUTO TECH PROGRAM FOR VARIOUS EQUIPMENT & COLLISION REPAIR PROGRAM FOR TWO PARTS CARTS | $5,260 |
NORTHWEST IOWA COMMUNITY COLLEGE PURPOSE: AUTO TECH PROGRAM FOR A DRIVE SHAFT ANGLE TRAINER | $5,610 |