Civic Intelligence

Iowa Farm Bureau Federation

EIN 42-0680706 • 501(c)5 • Centerville, IA

Profile

To create a vibrant future for agriculture, farm families their communities.

110 N 18th Street Suite 200Centerville, IA 52544-1812
Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

27th percentile

0.00x

Higher debt load relative to assets than 27% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

36th percentile

0.00x

Higher debt load relative to revenue than 36% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Net Margin

90th percentile

36%

Higher net margin than 90% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

22nd percentile

$75

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Asset Growth

31st percentile

0.8%

Faster asset growth than 31% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

42nd percentile

3.8%

Faster revenue growth than 42% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,103,452

Up $9,219 (+0.8%) from 2023

Liabilities

Down

$286

Down $52 (-15%) from 2023

Net Assets

Up

$1,103,166

Up $9,271 (+0.8%) from 2023

Revenue

Up

$100,076

Up $3,621 (+3.8%) from 2023

Expenses

Down

$64,544

Down $3,022 (-4.5%) from 2023

Net Income

Up

$35,532

Up $6,643 (+23%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0Assets 2011: $244,267Liabilities 2011: $132,8112011Assets 2012: $246,709Liabilities 2012: $126,2652012Assets 2013: $240,961Liabilities 2013: $117,0672013Assets 2014: $235,862Liabilities 2014: $108,0792014Assets 2015: $226,747Liabilities 2015: $98,1912015Assets 2016: $223,055Liabilities 2016: $87,8232016Assets 2017: $219,364Liabilities 2017: $83,6222017Assets 2018: $77,656Liabilities 2018: $1,572Net Assets 2018: $76,0842018Assets 2019: $78,280Liabilities 2019: $4,7972019Assets 2020: $80,853Liabilities 2020: $423Net Assets 2020: $80,4302020Assets 2021: $88,583Liabilities 2021: $4542021Assets 2022: $1,090,458Liabilities 2022: $362Net Assets 2022: $1,090,0962022Assets 2023: $1,094,233Liabilities 2023: $338Net Assets 2023: $1,093,8952023Assets 2024: $1,103,452Liabilities 2024: $286Net Assets 2024: $1,103,1662024

Highlighted filing

2024

Assets$1,103,452
Liabilities$286
Net Assets$1,103,166

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $87,316Expenses 2011: $86,315Net Income 2011: $1,0012011Revenue 2012: $113,066Expenses 2012: $104,078Net Income 2012: $8,9882012Revenue 2013: $110,874Expenses 2013: $107,424Net Income 2013: $3,4502013Revenue 2014: $113,076Expenses 2014: $109,187Net Income 2014: $3,8892014Revenue 2015: $108,513Expenses 2015: $107,740Net Income 2015: $7732015Revenue 2016: $107,147Expenses 2016: $100,471Net Income 2016: $6,6762016Revenue 2017: $93,169Expenses 2017: $92,659Net Income 2017: $5102017Revenue 2018: $34,984Expenses 2018: $94,642Net Income 2018: -$59,6582018Revenue 2019: $86,635Expenses 2019: $89,236Net Income 2019: -$2,6012019Revenue 2020: $69,046Expenses 2020: $62,099Net Income 2020: $6,9472020Revenue 2021: $66,332Expenses 2021: $58,633Net Income 2021: $7,6992021Revenue 2022: $1,064,799Expenses 2022: $62,832Net Income 2022: $1,001,9672022Revenue 2023: $96,455Expenses 2023: $67,566Net Income 2023: $28,8892023Revenue 2024: $100,076Expenses 2024: $64,544Net Income 2024: $35,5322024

Highlighted filing

2024

Revenue$100,076
Expenses$64,544
Net Income$35,532

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.10$0.00$1.10$0.10$0.06$0.04
2023Summary only. Only limited summary data is available for this year.$1.09$0.00$1.09$0.10$0.07$0.03
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.00$1.09$1.06$0.06$1.00
2021Summary only. Only limited summary data is available for this year.$0.09$0.00$0.07$0.06$0.01
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.08$0.00$0.08$0.07$0.06$0.01
2019Summary only. Only limited summary data is available for this year.$0.08$0.00$0.09$0.09$0.00
2018Summary only. Only limited summary data is available for this year.$0.08$0.00$0.08$0.03$0.09$0.06
2017Summary only. Only limited summary data is available for this year.$0.22$0.08$0.09$0.09$0.00
2016Summary only. Only limited summary data is available for this year.$0.22$0.09$0.11$0.10$0.01
2015Summary only. Only limited summary data is available for this year.$0.23$0.10$0.11$0.11$0.00
2014Summary only. Only limited summary data is available for this year.$0.24$0.11$0.11$0.11$0.00
2013Summary only. Only limited summary data is available for this year.$0.24$0.12$0.11$0.11$0.00
2012Summary only. Only limited summary data is available for this year.$0.25$0.13$0.11$0.10$0.01
2011Summary only. Only limited summary data is available for this year.$0.24$0.13$0.09$0.09$0.00
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 18, 2023
Return Version
2022v5.0
Gross Receipts
$1,064,799
Mission and Program Overview

Mission

To create a vibrant future for agriculture, farm families their communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$84,909$91,911▲ $7,002
Accounts Receivable$2,091$2,127▲ $36
Land, Buildings, and Equipment, Net$1,483$1,144▼ $339
Cash and Non-Interest-Bearing Accounts$100$100→ $0
Total Assets$88,583$1,090,458▲ $1,001,875
Other Assets Total-$995,176-
Liabilities
Accounts Payable and Accrued Expenses$454$362▼ $92
Total Liabilities$454$362▼ $92
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$995,176-
Net Assets Without Donor Restrictions$88,129$94,920▲ $6,791
Total Net Assets Fund Balance$88,129$1,090,096▲ $1,001,967
Total Liabilities and Net Assets / Fund Balance$88,583$1,090,458▲ $1,001,875

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,144$7,536$8,680
Other Assets Org$995,176--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Cody KorthausPresident
Zachary GuinnVice President
Blake WhiteDirector
Jim SchweizerDirector
Mark HainesDirector
Scott VanroekelDirector
Zeb GuinnDirector
Craig SwabySecretary
Brian DavisTreasurer
Dan Furlin JrVoting Delegate
Revenue and Support

Revenue Composition

Contributions and Grants
$998,186
Program Service Revenue
$20,970
Investment Income
$24,043
Other Revenue
$21,600
Change in Net Assets
$1,001,967

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Secur Prtnrshp Trust Intrsts1$995,176Fair Market Value (FMV)
Total Noncash Contributions1$995,176-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,064,799
Total Revenue per Audited Statements
$1,064,799
Total Revenue per Form 990
$1,064,799
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$32,614
Salaries, Compensation, and Employee Benefits$26,094
Grants and Similar Amounts Paid$2,350
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$19,536
Payments to Affiliates---$10,252
Occupancy---$6,527
Office Expenses---$5,765
Other Employee Benefits---$5,006
Advertising---$2,299
Grants to Domestic Orgs---$2,100
Benefits to Members---$1,774
Payroll Taxes---$1,552
Conferences and Meetings---$1,407
Insurance---$863
Fees for Services Accounting---$815
Fees for Services Management---$466
Depreciation Depletion---$339
Grants to Domestic Individuals---$250
Travel---$241
Other Expenses---$25
Total Functional Expenses$0$0$0$62,832

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$62,832
Total Expenses per Audited Statements$62,832
Total Expenses per Form 990$62,832
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Any person may be a Farm Bureau member. All Farm Bureau members have the same vote and access to member benefits.

Form 990, Part VI, Section A, Line 7A

The organizations members elect the Board of Directors. In order to hold an officer position within Farm Bureau, the member must be actively engaged in farming, which must be their primary interest.

Form 990, Part VI, Section A, Line 7B

Decisions of the governing body subject to approval by members include setting annual membership dues and nominating voting delegates to the Iowa Farm Bureau Federation.

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

After the organizations CPA firm prepares the documentation and return, management reviews the documents and presents the return to all members of the governing body. Following final approval, the return is signed by an officer and submitted to the IRS.

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

On an annual basis, the organization requires the governing body and key employees to sign a conflicts of interest policy certification stating that they have received, read and agree to comply with the provisions set forth in the organizations conflicts of interest policy.

Form 990, Part VI, Section C, Line 19

The organization does not make its governing documents, conflicts of interest policy, or financial statements available for public inspection. Pursuant to state law, some documents may be available to members.

Filing and Contact Details

Filer

Filer Name
Iowa Farm Bureau Federation
EIN
42-0680706
Phone
6414374333
Address
110 N 18TH STREET SUITE 200, CENTERVILLE, IA 52544-1812
Doing Business As
Appanoose County Farm Bureau

Signing Officer

Name
Cody Korthaus
Title
President
Phone
6414374333
Signed
2023-07-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Cody Korthaus
Formed
1918
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
1
Volunteers
15

Preparer

Firm
Gardinercompany Pc
Address
10555 NEW YORK AVE, DES MOINES, IA 50322
Preparer
Max N Studer CPA
Phone
5152701446
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

The Company has various programs that are aimed at providing information to members on current agricultural issues through newsletters, meetings, etc. 485 members were benefitted in this manner during 2022.

Financial Statement Notes

X 2

FOOTNOTES IN FINANCIAL STATEMENTS Summary of Significant Accounting Policies In accordance with the Income Taxes Topic FASB ASC, the Company evaluates uncertain tax benefits arising from tax positions taken or expected to be taken based on the liklihood of being sustained upon examination by applicable tax authorities. If the Company determines that a tax position is more likely than not of being sustained, it recognizes the largest amount of the arising benefit that is greater than 50 of being realized upon settlement in the financial statements. Any tax positions taken or expected to be taken that do not pass the more likely than not test, the Company establishes reserves offsetting the benefits related to such positions. Interest and penalties if any, are included in the current provision for income taxes in the Companys statements of activities and are included as a current liability in the statement of financial position. Income Tax Footnote The Company has evaluated its tax positions and has concluded that the organization had taken no uncertain tax positions that require adjustment to the financial statements nor was there any unrelated business income for the year ending December 31, 2022.

Raw XML AppendixShowing 400 of 408 raw XML fields

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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FOOTNOTES IN FINANCIAL STATEMENTS Summary of Significant Accounting Policies In accordance with the Income Taxes Topic FASB ASC, the Company evaluates uncertain tax benefits arising from tax positions taken or expected to be taken based on the liklihood of being sustained upon examination by applicable tax authorities. If the Company determines that a tax position is more likely than not of being sustained, it recognizes the largest amount of the arising benefit that is greater than 50 of being realized upon settlement in the financial statements. Any tax positions taken or expected to be taken that do not pass the more likely than not test, the Company establishes reserves offsetting the benefits related to such positions. Interest and penalties if any, are included in the current provision for income taxes in the Companys statements of activities and are included as a current liability in the statement of financial position. Income Tax Footnote The Company has evaluated its tax positions and has concluded that the organization had taken no uncertain tax positions that require adjustment to the financial statements nor was there any unrelated business income for the year ending December 31, 2022.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Company has various programs that are aimed at providing information to members on current agricultural issues through newsletters, meetings, etc. 485 members were benefitted in this manner during 2022.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Any person may be a Farm Bureau member. All Farm Bureau members have the same vote and access to member benefits.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organizations members elect the Board of Directors. In order to hold an officer position within Farm Bureau, the member must be actively engaged in farming, which must be their primary interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Decisions of the governing body subject to approval by members include setting annual membership dues and nominating voting delegates to the Iowa Farm Bureau Federation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4After the organizations CPA firm prepares the documentation and return, management reviews the documents and presents the return to all members of the governing body. Following final approval, the return is signed by an officer and submitted to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5On an annual basis, the organization requires the governing body and key employees to sign a conflicts of interest policy certification stating that they have received, read and agree to comply with the provisions set forth in the organizations conflicts of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The organization does not make its governing documents, conflicts of interest policy, or financial statements available for public inspection. Pursuant to state law, some documents may be available to members.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Cody Korthaus
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06414374333
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-07-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IOWA FARM BUREAU FEDERATION
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ReturnHeader/Filer/USAddress/AddressLine1Txt0110 N 18TH STREET SUITE 200
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GARDINERCOMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010555 NEW YORK AVE
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