Civic Intelligence

Whiterock Conservancy

990 • Fiscal year 2015 • EIN 27-0110952

Jan 01, 2015 to Dec 31, 2015 • Filed on Jul 26, 2016

1436 Highway 141Coon Rapids, IA 50058

(712) 684-2697

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

18th percentile

0.02x

Higher debt load relative to assets than 18% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

16th percentile

0.05x

Higher debt load relative to revenue than 16% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

98th percentile

87%

Higher net margin than 98% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2015

Asset Growth

96th percentile

69%

Faster asset growth than 96% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

99th percentile

587%

Faster revenue growth than 99% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Up

$18,001,727

Up $7,321,147 (+69%) from 2014

Net Assets

Up

$17,564,603

Up $7,228,702 (+70%) from 2014

Liabilities

Up

$437,124

Up $92,445 (+27%) from 2014

Revenue

Up

$8,432,467

Up $7,204,498 (+587%) from 2014

Expenses

Up

$1,116,006

Up $131,954 (+13%) from 2014

Net Income

Up

$7,316,461

Up $7,072,544 (+2900%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2012: $9,404,579Liabilities 2012: $93,236Net Assets 2012: $9,311,3432012Assets 2014: $10,680,580Liabilities 2014: $344,679Net Assets 2014: $10,335,9012014Assets 2015: $18,001,727Liabilities 2015: $437,124Net Assets 2015: $17,564,6032015Assets 2016: $18,454,633Liabilities 2016: $398,082Net Assets 2016: $18,056,5512016Assets 2017: $18,633,440Liabilities 2017: $470,171Net Assets 2017: $18,163,2692017Assets 2018: $19,141,604Liabilities 2018: $562,037Net Assets 2018: $18,579,5672018Assets 2019: $19,775,905Liabilities 2019: $376,553Net Assets 2019: $19,399,3522019Assets 2020: $19,919,774Liabilities 2020: $381,628Net Assets 2020: $19,538,1462020Assets 2021: $23,838,581Liabilities 2021: $315,148Net Assets 2021: $23,523,4332021Assets 2022: $22,807,016Liabilities 2022: $281,244Net Assets 2022: $22,525,7722022Assets 2024: $24,570,269Liabilities 2024: $182,352Net Assets 2024: $24,387,9172024

Highlighted filing

2015

Assets$18,001,727
Liabilities$437,124
Net Assets$17,564,603

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2012: $767,8312012Revenue 2014: $1,227,969Expenses 2014: $984,052Net Income 2014: $243,9172014Revenue 2015: $8,432,467Expenses 2015: $1,116,006Net Income 2015: $7,316,4612015Revenue 2016: $1,258,245Expenses 2016: $1,186,844Net Income 2016: $71,4012016Revenue 2017: $1,172,506Expenses 2017: $1,240,782Net Income 2017: -$68,2762017Revenue 2018: $1,886,142Expenses 2018: $1,318,770Net Income 2018: $567,3722018Revenue 2019: $1,809,355Expenses 2019: $1,340,137Net Income 2019: $469,2182019Revenue 2020: $1,190,267Expenses 2020: $1,305,279Net Income 2020: -$115,0122020Revenue 2021: $11,211,658Expenses 2021: $7,273,417Net Income 2021: $3,938,2412021Revenue 2022: $1,511,759Expenses 2022: $1,632,829Net Income 2022: -$121,0702022Revenue 2024: $1,363,058Expenses 2024: $1,660,874Net Income 2024: -$297,8162024

Highlighted filing

2015

Revenue$8,432,467
Expenses$1,116,006
Net Income$7,316,461
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Jul 26, 2016
Return Version
2015v2.1
Gross Receipts
$8,688,732
Mission and Program Overview

Mission

Whiterock conservancy is a 5,500 acre non-profit land trust that balances sustainable agriculture, natural resource protection and public recreation on the landscape. Whiterock conservancy works for a resilient future by helping land flourish and transforming people's relationship to agriculture and nature.whiterock conservancy assists and supports the iowa department of natural resources, the leopold center for sustainable agriculture and the iowa natural heritage foundation (the supported organizations) in carrying out their purposes relating to land preservation, land restoration, conservation, sustainable agriculture, education and recreation.

Wrc is a 5,500 acre iowa non-profit land trust that balances sustainable agriculture, natural resource protection and public recreation on the landscape. Wrc works for a resilient future by helping land flourish and transforming people's relationship to agriculture and nature. Wrc assists and supports the iowa department of natural resources, the leopold center for sustainable agriculture and the iowa natural heritage foundation (the supported organizations) in carrying out their purposes relating to land preservation, land restoration, conservation, sustainable agriculture, education and recreation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$8,436,228$16,071,473▲ $7,635,245
Investments in Publicly Traded Securities$1,647,891$1,551,535▼ $96,356
Pledges and Grants Receivable$141,075$173,678▲ $32,603
Savings and Temporary Cash Investments$408,058$122,518▼ $285,540
Cash and Non-Interest-Bearing Accounts$25,865$56,042▲ $30,177
Accounts Receivable$10,034$13,391▲ $3,357
Inventories for Sale or Use$6,284$8,329▲ $2,045
Prepaid Expenses and Deferred Charges$3,889$2,611▼ $1,278
Total Assets$10,680,580$18,001,727▲ $7,321,147
Other Assets Total$1,256$2,150▲ $894
Liabilities
Mortgage Notes Payable Secured by Investment Property$222,437$289,299▲ $66,862
Accounts Payable and Accrued Expenses$68,394$89,442▲ $21,048
Other Liabilities$53,848$50,883▼ $2,965
Deferred Revenue-$7,500-
Total Liabilities$344,679$437,124▲ $92,445
Net Assets / Fund Balance
Unrestricted Net Assets$8,373,156$15,956,703▲ $7,583,547
Permanently Rstr Net Assets$1,200,000$1,202,000▲ $2,000
Temporarily Rstr Net Assets$762,745$405,900▼ $356,845
Total Net Assets Fund Balance$10,335,901$17,564,603▲ $7,228,702
Total Liabilities and Net Assets / Fund Balance$10,680,580$18,001,727▲ $7,321,147

Asset Categories

AssetBook ValueDepreciationBasis
Land$12,813,985-$12,813,985
Other Land Buildings$1,905,199$567,557$2,472,756
Buildings$1,044,160$270,602$1,314,762
Equipment$308,129$218,891$527,020

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$1,647,891$2,000▼ $8,866-$1,551,535
2014$1,634,311-▲ $98,629$73,438$1,647,891
2013$1,488,214-▲ $227,442$69,897$1,634,311
2012$1,367,627$28,000▲ $174,661$76,328$1,488,214
2011$1,431,242-▲ $4,359$64,200$1,367,627
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joseph a McgovernPresident--$135,529$135,529
Fred KirschenmannDirector--$125,585$125,585
Todd CoffeltVice Preside--$96,600$96,600
Duane SandDirector asPT-$66,926$66,926
Conrad KramerExecutive Di-$61,388-$61,388

Board Members and Trustees

NameTitle
Robert Riley JrDirector
Ryan HanserDirector
Sarah GarstDirector
Brett FrevertDirector as
Teresa OpheimDirector as
Ken HerringDirector Fin
Jennifer GarstSecretary
Elizabeth GarstTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Singletrack Trails INCConstruction417 CAMINO DEL MUNDO, Fort Collins, CO 80524$399,435
Revenue and Support

Revenue Composition

Contributions and Grants
$7,679,456
Program Service Revenue
$648,798
Investment Income
$97,269
Other Revenue
$6,944
All Other Contributions
$7,200,510
Change in Net Assets
$7,316,461

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Other4$6,940,997Market Value Opinion
Securities Publicly Traded3$32,020Market Value
Other Non Cash Contri Table1$4,220Approximate Actual Cost
Total Noncash Contributions8$6,977,237-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,432,467
Revenue Not Reported on Form 990
$-79,789
Total Revenue per Audited Statements
$8,352,678
Total Revenue per Form 990
$8,432,467
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$721,470
Salaries, Compensation, and Employee Benefits$394,536
Total Fundraising Expense$122,613
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$209,721$25,203$54,755$289,679
Depreciation Depletion$200,079$3,672$4,716$208,467
Fees for Services Other$76,123$17,267$21,328$114,718
Current Officers, Directors, Trustees, and Key Employees$6,188$41,377$13,823$61,388
Insurance$34,083$15,368$3,275$52,726
Occupancy$43,627$5,233$1,596$50,456
All Other Expenses$28,107$12,380$2,053$42,540
Payroll Taxes$16,048$5,040$4,666$25,754
Other Expenses$12,995$4,976$1,054$19,025
Travel$14,521$3,859$595$18,975
Other Employee Benefits$14,495$356$2,864$17,715
Fees for Services Accounting-$16,435-$16,435
Office Expenses$8,210$2,700$2,811$13,721
Fees for Service Investment Mgmnt Fees-$11,951-$11,951
Interest$9,325$1,668-$10,993
Advertising$2,008$192$5,779$7,979
Information Technology$1,100$46$3,218$4,364
Conferences and Meetings$1,389$1,072$80$2,541
Total Functional Expenses$824,598$168,795$122,613$1,116,006

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,123,976
Expenses per Audited Statements$1,116,006
Total Expenses per Form 990$1,116,006
Expenses Not Reported on Form 990$7,970
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Excess Grant Reimbursement$39,004
Customer Deposits$5,967
Payroll Taxes Payable$3,558
Sales Tax Payable$1,468
Gift Certificates Payable$586
Rental Deposits$300
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

Elizabeth garst jennifer & sarah garst b director b director sister, business partner sarah garst elizabeth & jennifer garst b director b director sister, business partner jennifer garst elizabeth & sarah garst b director b director sister, business partner

Form 990, Page 6, Part VI, Line 4

As noted in the 2014 form 990 return, on february 15, 2015, the bylaws of the organization were amended in relation to a quorum and manner of acting. Significant changes are that the board of directors can approve of actions by email as long as every board member casts a vote and the approval is unanimous. If an action receives any dissenting votes or abstentions, the action does not pass. In addition, notice of special meetings of the board of directors can be emailed to their usual email address and any director can waive notice of such meeting by email. The number of voting members of the organization increased from 9 to 10 in 2015 as reported on form 990, part i, line 3 and part vi, section a, line 1a; however, the bylaws were not officially revised until march 21, 2016 when the board voted to increase the maximum number of board members from 9 to 13 consisting of 10 class a directors and 3 class b directors.

Form 990, Page 6, Part VI, Line 7A

Each class a director serves for a term of three years. The terms of the class a directors are staggered so that the terms of two class a directors expire each year. When there is a vacancy for a class a director, the existing class a directors designate a successor class a director, subject to the right of the "supported organizations" to veto any designee. In addition, the "supported organizations" have the right to remove any class a director. Each class b director serves for a term of three years. The terms of the class b directors are staggered so that the term of one class b director expires each year. When there is a vacancy for a class b director, the existing class b directors designate a successor class b director, subject to the right of the "garst family advising committee" (as defined in the bylaws of wrc) to veto any designee. In addition, the "garst family advising committee" has the right to remove any class b director.

Form 990, Page 6, Part VI, Line 7B

As noted in the response to part vi, line 7a, the "supported organizations" of wrc have the right to veto any successor class a designee. In addition, the "supported organizations" have the right to remove any class a director from the board. The "garst family advising committee" has the right to veto any successor class b designee. In addition, the "garst family advising committee" has the right to remove any class b director from the board.

Form 990, Page 6, Part VI, Line 9

Ken herring 28330 j avenue adel, ia 50003 joseph a mcgovern 505 fifth ave., suite 444 des moines, ia 50309 fred kirschenmann 309 curtiss hall ames, ia 50011 robert riley, jr. 2910 cayuga point des moines, ia 50321 todd coffelt 502 e 9th street des moines, ia 50319 ryan hanser 4401 westown parkway, suite 212 west des moines, ia 50266-1037 teresa opheim 3129 36th ave s minneapolis, mn 55406 brett frevert 10832 old mill rd, ste 2 omaha, ne 68154 duane sand 8998 golden valley drive norwalk, ia 50211 elizabeth garst 1313 fig avenue coon rapids, ia 50058 jennifer garst 708 brookridge avenue ames, ia 50010 sarah garst 1063 21st st west des moines, ia 50265

Form 990, Page 6, Part VI, Line 11B

All aspects of the return were carefully reviewed by the finance committee consisting of treasurer elizabeth garst and board member brett frevert; executive director conrad kramer; and accountant sara grove. All proposed changes were incorporated in the return and the revisions were reviewed and approved by the treasurer and executive director prior to submission to the internal revenue service. All board members were provided a draft copy of the 2015 form 990 return for their consideration. The members were given the opportunity to examine the entire return with various sections highlighted for in-depth review, including conflict of interest related questions.

Form 990, Page 6, Part VI, Line 12C

The board performs a review of the policy and policy adherence at their annual meeting each march. The executive director also reviews each board member's signed "annual statement regarding conflict of interest policy and disclosure". In addition, board members are supplied with detail transaction histories of account activity at each board meeting to facilitate ongoing review.

Form 990, Page 6, Part VI, Line 15A

The executive director's compensation is set by the board of directors by consideration of compensation levels at other state-wide conservation non- profit organizations and state agencies. The organization maintained contemporaneous substantiation of the deliberation and decision through their record of the board of directors minutes. The organization has no other key employees or paid officer positions besides the executive director.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents, financial statements and conflict of interest policy are available during normal business hours for any individual who requests them.

Filing and Contact Details

Filer

Filer Name
Whiterock Conservancy
EIN
27-0110952
Phone
7126842697
Address
1436 HIGHWAY 141, COON RAPIDS, IA 50058

Signing Officer

Name
Conrad Kramer
Title
Executive Director
Phone
7126842697
Signed
2016-07-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Conrad Kramer
Formed
2004
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
27
Volunteers
100

Preparer

Firm
Olsen Muhlbauer & Co Llp
Address
PO BOX 545, CARROLL, IA 51401
Preparer
Karla L Fulton
Phone
7127924314
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Wrc is a 5,500 acre iowa non-profit land trust that balances sustainable agriculture, natural resource protection and public recreation on the landscape. Wrc works for a resilient future by helping land flourish and transforming people's relationship to agriculture and nature. Wrc assists and supports the iowa department of natural resources, the leopold center for sustainable agriculture and the iowa natural heritage foundation (the supported organizations) in carrying out their purposes relating to land preservation, land restoration, conservation, sustainable agriculture, education and recreation.

Form 990, Part IX, Line 11G

Other outside services 0 95 10,980 professional services 0 17,172 10,348 farm/cons professional srvs 630 0 0 farm/cons contract services 150 0 0 farm/cons custom farming 37,957 0 0 recr contract services 16,067 0 0 recr professional services 594 0 0 recr outside services 15,725 0 0 farm/cons outside services 5,000 0 0

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The net earnings of the endowment fund are available to be used to support the land stewardship / conservation and outdoor recreation / environmental education program services of the organization.

Schedule D, Page 3, Part X

In evaluating uncertain tax positions, it is the organization's intention to only take a position that it feels would be upheld under revenue service scrutiny.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR FIN
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IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDE
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IRS990/MissionDesc0WRC IS A 5,500 ACRE IOWA NON-PROFIT LAND TRUST THAT BALANCES SUSTAINABLE AGRICULTURE, NATURAL RESOURCE PROTECTION AND PUBLIC RECREATION ON THE LANDSCAPE. WRC WORKS FOR A RESILIENT FUTURE BY HELPING LAND FLOURISH AND TRANSFORMING PEOPLE'S RELATIONSHIP TO AGRICULTURE AND NATURE. WRC ASSISTS AND SUPPORTS THE IOWA DEPARTMENT OF NATURAL RESOURCES, THE LEOPOLD CENTER FOR SUSTAINABLE AGRICULTURE AND THE IOWA NATURAL HERITAGE FOUNDATION (THE SUPPORTED ORGANIZATIONS) IN CARRYING OUT THEIR PURPOSES RELATING TO LAND PRESERVATION, LAND RESTORATION, CONSERVATION, SUSTAINABLE AGRICULTURE, EDUCATION AND RECREATION.
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IRS990/ProgSrvcAccomActy2Grp/Desc0OUTDOOR RECREATION AND ENVIRONMENTAL EDUCATION: A GOAL OF WRC IS TO PROVIDE THE PUBLIC WITH OPPORTUNITIES TO ACCESS AND ENGAGE WITH THE OUTDOORS FOR RECREATION, RENEWAL, AND EDUCATION TO INCREASE APPRECIATION OF THE CULTURAL, NATURAL, AND SCENIC RESOURCES OF RURAL IOWA. THIS GOAL IS ACCOMPLISHED THROUGH THE OPERATION OF WHITEROCK GUEST SERVICES, DESIGNED TO FACILITATE ACCESS & ENGAGEMENT BY PROVIDING VAROUS OVERNIGHT ACCOMODATIONS AND A RANGE OF PROGRAMS FROM GUIDED TOURS, NATURE WALKS, FISHING, BOATING, BIRD WATCHING, ETC., ALONG WITH RECREATIONAL EQUIPMENT RENTALS. WHITEROCK GRUEST SERVICES OPERATES AS A FEE FOR SERVICE PROGRAM; HOWEVER, MANY ACTIVITIES ARE AVAILABLE AT NO CHARGE. FUNDS RAISED HAVE BEEN USED FOR CONSTRUCTION AND MAINTENANCE OF RECREATIONAL TRAILS THROUGHOUT WRC'S LAND.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE "SUPPORTED ORGANIZATIONS" DIRECTORS DO NOT HAVE THE POWER TO REGULARLY APPOINT OR ELECT ANY OF WRC DIRECTORS. HOWEVER, WHEN THERE IS A VACANCY FOR A CLASS A DIRECTOR AND THE EXISTING CLASS A DIRECTORS DESIGNATE A SUCCESSOR CLASS A DIRECTOR, THE SELECTED INDIVIDUAL IS SUBJECT TO THE RIGHT OF ANY OF THE THREE "SUPPORTED ORGANIZATIONS" TO VETO THE DESIGNEE. IN ADDITION, ANY OF THE THREE "SUPPORTED ORGANIZATIONS" HAVE THE RIGHT TO REMOVE ANY CLASS A DIRECTOR.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART IV, SECTION B, LINE 1
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