Iowa Pharmacy Foundation
- Assets
- $2.2m
- Revenue
- $149.4k
- Investments
- $1.2m
- Employees
- 0
- Location
- Urbandale, IA
- Founding
- 07/2018
- Data as of
- 12/2022
- EIN
- 42-6075767
Organization Overview
Iowa Pharmacy Foundation is located in Urbandale, IA. The organization was established in 2018. According to its NTEE Classification (T23) the organization is classified as: Private Operating Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Pharmacy 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 12/2022, Iowa Pharmacy Foundation generated $149.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (20.6%) each year. All expenses for the organization totaled $172.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Iowa Pharmacy Foundation has awarded 45 individual grants totaling $581,320. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
BACKGROUND:THE IPA FOUNDATION IS A NOT FOR PROFIT 501(C)3 CHARITABLE ORGANIZATION HEADQUARTERED IN DES MOINES, IOWA. IT IS AFFILIATED WITH THE IOWA PHARMACY ASSOCIATION, THE STATE PROFESSIONAL SOCIETY OF PHARMACISTS, STUDENT PHARMACISTS AND PHARMACY TECHNICIANS. THE IPA FOUNDATION WAS ESTABLISHED IN 1960 AS A CHARITABLE, NON-PROFIT FOUNDATION TO OFFER LOANS AND SCHOLARSHIPS TO DESERVING PHARMACY STUDENTS. THE MISSION STATEMENT OF THE IPA FOUNDATION IS INSPIRING GENEROSITY AND FULFILLING THE ASPIRATIONS OF THE PHARMACY PROFESSION THROUGH SUPPORT OF EDUCATION, PRACTICE BASED RESEARCH, AND PRACTICE DEVELOPMENT. THIS MISSION IS ACCOMPLISHED THROUGH: - STUDENT PHARMACIST SUPPORT: PROVIDING SCHOLARSHIPS AND FACILITATING PROFESSIONAL DEVELOPMENT PROGRAMS FOR STUDENT PHARMACISTS IN IOWA. - LEADERSHIP DEVELOPMENT: FACILITATING PROGRAMS OF LEADERSHIP SKILL DEVELOPMENT FOR STUDENT PHARMACISTS AND NEW PHARMACIST-PRACTITIONERS. -CONTINUING PROFESSIONAL EDUCATION: SUPPORTING THE DEVELOPMENT, IN COOP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Renae Chesnut Member | 0.25 | $0 | |
Julie Kuhle Member | 0.25 | $0 | |
Gary Milavetz Member | 0.25 | $0 | |
Bob Greenwood Member | 0.25 | $0 | |
Craig Logemann Member | 0.25 | $0 | |
Cheryl Clarke Member | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $57,557 |
| Interest on Savings | $0 |
| Dividends & Interest | $34,608 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $22,484 |
| Capital Gain Net Income | $22,484 |
| Net ST Capital Gain | $1,562 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $34,780 |
| Total Revenue | $149,429 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,000 |
| Depreciation | $414 |
| Occupancy | $3,600 |
| Travel, conferences, and meetings | $196 |
| Printing and publications | $0 |
| Other expenses | $54,511 |
| Total operating and administrative expenses | $137,123 |
| Contributions, gifts, grants paid | $35,070 |
| Total expenses and disbursements | $172,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $80,439 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $160,155 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,843 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $657,949 |
| Net Land, buildings, and equipment | $724 |
| Other assets | $743,391 |
| Total assets | $2,202,243 |
| Accounts payable and accrued expenses | $57,672 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $57,672 |
Grants Awarded
Over the last fiscal year, Iowa Pharmacy Foundation has awarded $35,070 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
DRAKE UNIVERSITY PURPOSE: SCHOLARSHIP FUND CONTRIBUTION | $9,500 |
UNIVERSITY OF IOWA PURPOSE: OUTCOMES GRANT | $5,000 |
UNIVERSITY OF IOWA PURPOSE: SCHOLARSHIP FUND CONTRIBUTION | $9,500 |
SPENCER MUNICIPAL HOSPITAL PURPOSE: OUTCOMES GRANT | $11,070 |