Civic Intelligence

Iowa State Fairgrounds Tr

990 • Fiscal year 2023 • EIN 37-6570972

Nov 01, 2022 to Oct 31, 2023 • Filed on Feb 14, 2024

PO Box 57130Des Moines, IA 50317

(515) 262-3111

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

98th percentile

96%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

72nd percentile

16%

Faster asset growth than 72% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

58th percentile

12%

Faster revenue growth than 58% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$1,598,895

Up $217,333 (+16%) from 2022

Net Assets

Up

$1,598,895

Up $217,333 (+16%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue

Up

$227,455

Up $24,603 (+12%) from 2022

Expenses

Up

$9,669

Up $538 (+5.9%) from 2022

Net Income

Up

$217,786

Up $24,065 (+12%) from 2022

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2015: $596,296Liabilities 2015: $249,282Net Assets 2015: $347,0142015Assets 2016: $438,540Liabilities 2016: $0Net Assets 2016: $438,5402016Assets 2017: $577,690Liabilities 2017: $0Net Assets 2017: $577,6902017Assets 2018: $613,719Liabilities 2018: $0Net Assets 2018: $613,7192018Assets 2019: $915,729Liabilities 2019: $0Net Assets 2019: $915,7292019Assets 2020: $1,235,837Liabilities 2020: $0Net Assets 2020: $1,235,8372020Assets 2021: $1,578,462Liabilities 2021: $0Net Assets 2021: $1,578,4622021Assets 2022: $1,381,562Liabilities 2022: $0Net Assets 2022: $1,381,5622022Assets 2023: $1,598,895Liabilities 2023: $0Net Assets 2023: $1,598,8952023Assets 2024: $2,054,902Liabilities 2024: $0Net Assets 2024: $2,054,9022024

Highlighted filing

2023

Assets$1,598,895
Liabilities$0
Net Assets$1,598,895

Operations Trend

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

$300K$200K$100K$0Revenue 2015: $270,074Expenses 2015: $2,805Net Income 2015: $267,2692015Revenue 2016: $86,435Expenses 2016: $2,334Net Income 2016: $84,1012016Revenue 2017: $233,784Expenses 2017: $3,348Net Income 2017: $230,4362017Revenue 2018: $226,161Expenses 2018: $4,127Net Income 2018: $222,0342018Revenue 2019: $137,534Expenses 2019: $4,956Net Income 2019: $132,5782019Revenue 2020: $290,531Expenses 2020: $5,696Net Income 2020: $284,8352020Revenue 2021: $196,158Expenses 2021: $8,742Net Income 2021: $187,4162021Revenue 2022: $202,852Expenses 2022: $9,131Net Income 2022: $193,7212022Revenue 2023: $227,455Expenses 2023: $9,669Net Income 2023: $217,7862023Revenue 2024: $202,948Expenses 2024: $11,827Net Income 2024: $191,1212024

Highlighted filing

2023

Revenue$227,455
Expenses$9,669
Net Income$217,786
Jump To
Filing Snapshot
Filing Period
Nov 1, 2022 to Oct 31, 2023
Signed
Feb 14, 2024
Return Version
2022v5.0
Gross Receipts
$227,455
Mission and Program Overview

Mission

An endowment trust to be used exclusively for the maintenance and improvement of the Iowa State Fairgrounds

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$1,381,562$1,598,895▲ $217,333
Investments in Publicly Traded Securities$1,359,032$1,586,124▲ $227,092
Cash and Non-Interest-Bearing Accounts$22,530$12,771▼ $9,759
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,381,562$1,598,895▲ $217,333
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,381,562$1,598,895▲ $217,333
Total Liabilities and Net Assets / Fund Balance$1,381,562$1,598,895▲ $217,333

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,381,562$105,852▲ $111,481$0$1,598,895
2022$1,578,462$38,542▼ $235,442$0$1,381,562
2021$1,235,836$13,399▲ $329,227$0$1,578,462
2020$915,729$270,773▲ $49,334$0$1,235,836
2019$749,696$85,120▲ $80,913$0$915,729
Compensation and Service Providers

Board Members and Trustees

NameTitle
Darwin GaudianPresident
Wendy WintersteenPresident of Iowa State University
Curtis ClaeysVice President
Alan BrownDirector
CW ThomasDirector
Gary McConnellDirector
Gary Van AernamDirector
Jo ReynoldsDirector
John HarmsDirector
Randy BrownDirector
Tennie CarlsonDirector
VerDon SchmidtDirector
Peter CownieExecutive Director
Kim ReynoldsGovernor
Jeremy ParsonsSecretary
Michael NaigSecretary of Agriculture
Deb ZumbachTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$171,865
Program Service Revenue
$0
Investment Income
$55,590
Other Revenue
$0
All Other Contributions
$105,852
Change in Net Assets
$217,786

Audited Revenue Reconciliation

Revenue per Audited Statements
$227,455
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$227,455
Total Revenue per Form 990
$227,455
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,669
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees$0$9,669$0$9,669
Total Functional Expenses$0$9,669$0$9,669

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$9,669
Total Expenses per Audited Statements$9,669
Total Expenses per Form 990$9,669
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Woodcarvers Auction$66,013$66,013$0$66,013
Total Events$66,013$66,013$0$66,013
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The Trust delivers a copy of the Form 990 to all of its Board of Directors before filing with the IRS.

Form 990, Part VI, Section B, Line 12C

Each Director completes an annual disclosure statement disclosing potential conflicts and business.

Form 990, Part VI, Section C, Line 19

The Trust's governing documents and its most recent Form 990 are made available through its principal office upon request.

Filing and Contact Details

Filer

Filer Name
Iowa State Fairgrounds Tr
EIN
37-6570972
Phone
5152623111
Address
PO Box 57130, Des Moines, IA 50317

Signing Officer

Name
Peter Cownie
Title
Executive Director
Phone
5152623111
Signed
2024-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Cownie
Formed
2012
Legal Domicile
Ia
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
15

Preparer

Firm
Brick Gentry PC
Address
6701 Westown Parkway Ste 100, West Des Moines, IA 50266
Preparer
Julie Vyskocil
Phone
5152715909
Supplemental Narrative

Financial Statement Notes

Schedule D, Part V, Line 4

To be used exclusively for the maintenance and improvement of the Iowa State Fairgrounds.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm11Wendy Wintersteen
IRS990/Form990PartVIISectionAGrp/PersonNm12Peter Cownie
IRS990/Form990PartVIISectionAGrp/PersonNm13Tennie Carlson
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
IRS990/Form990PartVIISectionAGrp/TitleTxt0Director
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Governor
IRS990/Form990PartVIISectionAGrp/TitleTxt10Secretary of Agriculture
IRS990/Form990PartVIISectionAGrp/TitleTxt11President of Iowa State University
IRS990/Form990PartVIISectionAGrp/TitleTxt12Executive Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14President
IRS990/Form990PartVIISectionAGrp/TitleTxt15Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt16Secretary
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IRS990/FormationYr02012
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IRS990/MinutesOfCommitteesInd01
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