Iowa Soybean Association
- Assets
- $49.1m
- Revenue
- $53.1m
- Investments
- $1.8m
- Employees
- 93
- Location
- Ankeny, IA
- Founding
- 11/1991
- Data as of
- 09/2023
- EIN
- 42-6127197
Organization Overview
Iowa Soybean Association is located in Ankeny, IA. The organization was established in 1991. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Iowa Soybean Association employed 93 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa Soybean 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 09/2023, Iowa Soybean Association generated $53.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $48.1m during the year ending 09/2023. While expenses have increased by 4.1% 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
TO AID IN THE PROMOTION OF THE SOYBEAN INDUSTRY THROUGH PROJECTS AND PROGRAMS INCLUDING BUT NOT LIMITED TO RESEARCH, EDUCATION, AND MARKET DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPLY - CONDUCT ON-FARM RESEARCH TO STABILIZE AND INCREASE YIELD WHILE IMPROVING PRODUCTION EFFICIENCY AND THE ENVIRONMENT. THE PRIMARY FOCUS OF THIS OBJECTIVE IS TO HELP GROWERS BECOME MORE PROFITABLE BY COLLECTING SCIENCE-BASED INFORMATION RELATING TO CROP PRODUCTION.
ORGANIZATIONAL - PARTNERSHIP OPPORTUNITIES TO SUPPORT ISA PROGRAMS; PUBLIC AFFAIRS AND MEMBERSHIP - WORK ON MATTERS AFFECTING SOYBEAN PRODUCERS RELATED TO PUBLIC POLICY AND INDUSTRY RELATIONS, COMMUNICATION WITH ELECTED OFFICIALS AND GOVERNMENTAL REPRESENTATIVES, AND ASSOCIATION POLICY MEMBERSHIP RECRUITMENT.; COMPETITIVENESS AND MONITORING - THE KEY FOCUS AREA OF THE PROGRAM IS TO MONITOR ISSUES RELATED TO THE COMPETITIVENESS OF IOWA'S SOYBEAN FARMERS AS PART OF A GLOBAL MARKETPLACE IN SUCH AREAS AS TRADE AGREEMENTS, SUSTAINABILITY, DOMESTIC FARM PROGRAMS AND ENVIRONMENT REGULATIONS.
INFORMATION AND EDUCATION - THE INFORMATION AND EDUCATION OBJECTIVE IS DRIVEN TO DELIVER GROWTH AND ENGAGEMENT OF FARMER MEMBERS IN ASSOCIATION ACTIVITIES, GREATER AWARENESS OF IOWA SOYBEAN ASOCIATION AMONG TARGET AUDIENCES, COMPELLING CONTENT THAT EMPOWERS SOYBEAN FARMERS TO BE MORE PRODUCTIVE AND PROFITABLE AND INCREASED TRUST AMONG FOOD-MINDED IOWANS IN MODERN AGRICULTURE AND ALL THINGS RELATED TO SOYBEAN PRODUCTION AND CONSUMPTION.
DEMAND - INCREASE DEMAND OF IOWA SOYBEANS BY MEETING THE NEEDS OF OUR CUSTOMERS. THIS PROGRAM'S MAIN GOAL IS TO INCREASE AND MAINTAIN EXPORT OF WHOLE SOYBEAN, SOYBEAN MEAL, AND PORK AND POULTRY PRODUCTS THROUGH MARKET DEVELOPMENT AND PROMOTIONAL EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lindsay Greiner Director, Through 9/7 | Trustee | 1 | $1,541 |
Tim Bardole Director | Trustee | 1 | $4,200 |
Dave Walton Director | Trustee | 1 | $2,465 |
Suzanne Shirbroun President, Beginning 9/7 | OfficerTrustee | 1 | $1,800 |
Morey Hill Director, Through 9/7 | Trustee | 1 | $2,900 |
Randy Miller President, Through 9/7 | OfficerTrustee | 1 | $4,544 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cyclone Sports Properties Llc Co Learf Marketing | 9/29/16 | $178,550 |
Kitchen Table Advertising Llc Advertising | 9/29/16 | $118,261 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $162,250 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,480,240 |
| All other contributions, gifts, grants, and similar amounts not included above | $766,872 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,409,362 |
| Total Program Service Revenue | $47,369,116 |
| Investment income | $829,499 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $21,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,121,070 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $425,000 |
| 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. | $755,926 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,541,895 |
| Pension plan accruals and contributions | $543,432 |
| Other employee benefits | $1,117,560 |
| Payroll taxes | $434,271 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,899 |
| Fees for services: Accounting | $37,905 |
| Fees for services: Lobbying | $63,010 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,099,539 |
| Advertising and promotion | $4,036,830 |
| Office expenses | $850,750 |
| Information technology | $250,160 |
| Royalties | $0 |
| Occupancy | $101,900 |
| Travel | $941,889 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $468,867 |
| Interest | $1,104 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $294,526 |
| Insurance | $103,723 |
| All other expenses | $380,525 |
| Total functional expenses | $48,138,913 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,695,722 |
| Savings and temporary cash investments | $3,340,962 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,128,802 |
| 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 | $180,036 |
| Net Land, buildings, and equipment | $9,459,954 |
| Investments—publicly traded securities | $11,964 |
| Investments—other securities | $1,831,208 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $414,918 |
| Total assets | $49,063,566 |
| Accounts payable and accrued expenses | $9,426,849 |
| Grants payable | $0 |
| Deferred revenue | $477,626 |
| 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 | $506,239 |
| Total liabilities | $10,410,714 |
| Net assets without donor restrictions | $38,616,650 |
| Net assets with donor restrictions | $36,202 |
| 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 | $49,063,566 |