Civic Intelligence

Iowa Farm Bureau Federation

990 • Fiscal year 2023 • EIN 42-0680717

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 11, 2024

1321 Olive Avenue PO Box 316Hampton, IA 50441

(641) 456-4767

Siviq Scores

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

Liabilities / Assets

45th percentile

0.00x

Higher debt load relative to assets than 45% of similar nonprofits.

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

Liabilities / Revenue

65th percentile

0.05x

Higher debt load relative to revenue than 65% of similar nonprofits.

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

Net Margin

59th percentile

9.6%

Higher net margin than 59% of similar nonprofits.

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

Top Officer Pay

22nd percentile

$292

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

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

Asset Growth

45th percentile

3.5%

Faster asset growth than 45% of similar nonprofits.

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

Revenue Growth

1st percentile

-89%

Faster revenue growth than 1% of similar nonprofits.

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

Assets

Flat

$1,360,417

Flat from 2023

Net Assets

Flat

$1,354,069

Flat from 2023

Liabilities

Flat

$6,348

Flat from 2023

Revenue

Flat

$122,154

Flat from 2023

Expenses

Flat

$110,488

Flat from 2023

Net Income

Flat

$11,666

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $146,302Liabilities 2011: $22011Assets 2012: $167,214Liabilities 2012: $1,7242012Assets 2013: $199,420Liabilities 2013: $1,9972013Assets 2014: $206,487Liabilities 2014: $2,1362014Assets 2015: $211,498Liabilities 2015: $8,6072015Assets 2016: $204,232Liabilities 2016: $5,8552016Assets 2017: $222,609Liabilities 2017: $2,3722017Assets 2018: $209,863Liabilities 2018: $5,2442018Assets 2019: $247,827Liabilities 2019: $3,4542019Assets 2020: $288,389Liabilities 2020: $1,112Net Assets 2020: $287,2772020Assets 2021: $335,369Liabilities 2021: $1,991Net Assets 2021: $333,3782021Assets 2022: $1,315,029Liabilities 2022: $6,333Net Assets 2022: $1,308,6962022Assets 2023: $1,360,417Liabilities 2023: $6,348Net Assets 2023: $1,354,0692023Assets 2023: $1,360,417Liabilities 2023: $6,348Net Assets 2023: $1,354,0692023Assets 2024: $1,404,227Liabilities 2024: $7,556Net Assets 2024: $1,396,6712024

Highlighted filing

2023

Assets$1,360,417
Liabilities$6,348
Net Assets$1,354,069

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $125,550Expenses 2011: $125,514Net Income 2011: $362011Revenue 2012: $120,308Expenses 2012: $112,028Net Income 2012: $8,2802012Revenue 2013: $123,015Expenses 2013: $120,820Net Income 2013: $2,1952013Revenue 2014: $122,255Expenses 2014: $121,585Net Income 2014: $6702014Revenue 2015: $121,947Expenses 2015: $117,175Net Income 2015: $4,7722015Revenue 2016: $120,709Expenses 2016: $129,052Net Income 2016: -$8,3432016Revenue 2017: $125,247Expenses 2017: $118,058Net Income 2017: $7,1892017Revenue 2018: $122,899Expenses 2018: $115,058Net Income 2018: $7,8412018Revenue 2019: $128,806Expenses 2019: $118,377Net Income 2019: $10,4292019Revenue 2020: $126,568Expenses 2020: $107,672Net Income 2020: $18,8962020Revenue 2021: $147,863Expenses 2021: $117,940Net Income 2021: $29,9232021Revenue 2022: $1,108,382Expenses 2022: $92,601Net Income 2022: $1,015,7812022Revenue 2023: $122,154Expenses 2023: $110,488Net Income 2023: $11,6662023Revenue 2023: $122,154Expenses 2023: $110,488Net Income 2023: $11,6662023Revenue 2024: $144,822Expenses 2024: $121,162Net Income 2024: $23,6602024

Highlighted filing

2023

Revenue$122,154
Expenses$110,488
Net Income$11,666
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 11, 2024
Return Version
2023v5.1
Gross Receipts
$139,799
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$995,176$995,176→ $0
Investments in Publicly Traded Securities$231,735$271,766▲ $40,031
Savings and Temporary Cash Investments$45,179$53,586▲ $8,407
Land, Buildings, and Equipment, Net$38,285$35,561▼ $2,724
Accounts Receivable$4,627$4,301▼ $326
Cash and Non-Interest-Bearing Accounts$27$27→ $0
Total Assets$1,315,029$1,360,417▲ $45,388
Liabilities
Accounts Payable and Accrued Expenses$6,333$6,348▲ $15
Total Liabilities$6,333$6,348▲ $15
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,308,696$1,354,069▲ $45,373
Total Net Assets Fund Balance$1,308,696$1,354,069▲ $45,373
Total Liabilities and Net Assets / Fund Balance$1,315,029$1,360,417▲ $45,388

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$32,033$116,008$148,041
Equipment$46$9,221$9,267
Land$3,482-$3,482
Other Securities$995,176--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$1,006,715-▲ $53,223$24,600$1,035,200
2022$0$995,176▲ $11,539-$1,006,715
Compensation and Service Providers

Employees

NameTitleOtherTotal
Becky DohlmanSecretary$292$292

Board Members and Trustees

NameTitle
Mike BorcherdingPresident
Tanner BrassVice President
Andrew BenningDirector
Brian BorcherdingDirector
Callie EricksonDirector
Carolyn OlesonDirector
Ian PlaggeDirector
Jacob ShowalterDirector
Jim DannenDirector
Josh ShowalterDirector
Kaitlyn PorterDirector
Lacey PetersDirector
Mark BauschDirector
Nathan CrawfordDirector
Rodney PetersDirector
Tara PralleDirector
Nathan DohlmanTreasurer
David PingelVoting Delegate
Revenue and Support

Revenue Composition

Contributions and Grants
$17,226
Program Service Revenue
$54,900
Investment Income
$30,738
Other Revenue
$19,290
Change in Net Assets
$11,666
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$62,302
Salaries, Compensation, and Employee Benefits$44,219
Grants and Similar Amounts Paid$3,967
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$0$0$0$40,615
Payments to Affiliates$0$0$0$26,840
Office Expenses$0$0$0$11,504
Conferences and Meetings$0$0$0$7,915
Other Expenses$0$0$0$5,576
Payroll Taxes$0$0$0$3,149
Grants to Domestic Individuals$0--$3,000
Travel$0$0$0$2,081
Fees for Services Accounting$0$0$0$1,470
Fees for Services Management$0$0$0$1,220
Grants to Domestic Orgs$0--$967
Advertising$0$0$0$889
Insurance$0$0$0$772
Current Officers, Directors, Trustees, and Key Employees$0$0$0$292
Depreciation Depletion$0$0$0$285
Occupancy$0$0$0$240
Other Employee Benefits$0$0$0$163
Total Functional Expenses$0$0$0$110,488
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
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Filing and Contact Details

Filer

Filer Name
Iowa Farm Bureau Federation
EIN
42-0680717
Phone
6414564767
Address
1321 Olive Avenue PO Box 316, Hampton, IA 50441
Doing Business As
Franklin County Farm Bureau

Signing Officer

Name
Mike Borcherding
Title
President
Phone
6414564767
Signed
2024-04-11
Discuss with paid preparer
Yes

Organization Details

Formed
1917
Legal Domicile
Ia
Voting Board Members
19
Independent Board Members
19
Employees
2
Volunteers
22

Preparer

Firm
Iowa Farm Bureau Federation
Address
5400 University Ave, West Des Moines, IA 50266
Preparer
Timothy Bigley
Phone
5152255400
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

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

Pt VI, Line 7A

The Organizations members elect the Board of Directors each year at the annual meeting. In order to hold an officer position within Farm Bureau, the member must be actively engaged in farming, which must be his/her primary interest.

Pt VI, 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.

Pt VI, Line 11B

Management reviews the documents and presents the return to all members of the governing body. Following final board approval, the return is signed by an officer and submitted to the IRS.

Pt VI, Line 12C

On an annual basis, all officers, directors, and key employees are required to sign a statement which affirms that they have: 1) received a copy of the conflict of interest policy, 2) read and understood the policy, 3) agreed to comply with the policy, 4) understand that the Organization is tax-exempt and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish its tax-exempt purpose. A sub-committee, comprised of non-conflicted Board of Directors, annually receives all conflict of interest information, reviews, and determines if there are conflicts of interest. The committee then reports its findings back to the Board.

Pt VI, Line 19

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

Other

Part III, Line 4a - Ag Education - The organizations outreach coordinator was able to be in 6 classrooms in a local school doing Embryology units to hatch chicks. The board hosted the Ag Learning Center at the Franklin County Fair to promote ag education including showcasing livestock, animal magnet games to learn proper terms, and a honey bee exhibit. They partnered with Little Hands on the Farm to send kids to both locations to learn about livestock and grain farming at the Fair. They also supported the Pleasant Hill Dairy at the Fair. It features live milking demonstrations twice/day where fairgoers can talk to dairy farmers and see milking in progress. The organization is a member of North Central Iowa Ag in the Classroom which conducts Ag Weeks in Franklin County Schools. Board members and the outreach coordinator participate in local library story times to share about agriculture with young children. They also support FFA chapters and present ag trivia during FFA week.

Other

Part III, Line 4b - Ag Promotion - The board hosted the annual Breakfast Battle during National Ag Week to promote agricultural and raise awareness for food insecurity. The groceries and funds raised were donated to local food pantries. This event was covered by the local newspaper and on local radio. Their exhibits at the Franklin County Fair tell the modern ag story to fairgoers regarding livestock, dairy, crops, and how they feed the world. The board donates to support 4-H, the Governors Steer Show, and various other organizations that support agriculture. The FCFB has an active Facebook page with more than 675 followers and regularly shares ag information via posts. The FCFB promotes real meat during Octobers Pork Month by giving away weekly pork bundles. Information is shared on social media on the benefits of meat in the diet.

Other

Part III, Line 4c - Policy - The organization had members attend legislative forums with legislators present to discuss policy items prior to session beginning and they send a voting delegate to attend policy conferences to advocate for local views. The organization sends out an opinionnaire to gather input from members before setting county resolutions for the year. The resolutions are used to influence policy. They reached out to district superintendents/school officials in the area to allow the administrators to share ideas on policy issues affecting educations in rural areas. Several members participate in the process to raise and prioritize issues along with other counties across the state. Board members attend IFBF Days at the Capitol to promote policy.

Pt VI, Line 2

Tanner Brass and Tara Pralle have a family relationship. Mike Borcherding and Brian Borcherding have a family relationship. Nathan Dohlman and Becky Dohlman have a family relationship. Rodney Peters and Lacey Peters have a family relationship.

Financial Statement Notes

Pt V, Line 4

The Board designated funds are invested in a diversified portfolio that will provide a source of investment income to support the Organizations programs on a long-term basis.

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IRS990/Form990PartVIISectionAGrp/PersonNm17Josh Showalter
IRS990/Form990PartVIISectionAGrp/PersonNm18Kaitlyn Porter
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Voting Delegate
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
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IRS990/GainOrLossGrp/SecuritiesAmt04277
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IRS990/GrossReceiptsAmt0139799
IRS990/GrossRentsGrp/RealAmt014153
IRS990/GroupExemptionNum00626
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IRS990/IncludeFIN48FootnoteInd0false
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IRS990/InfoInScheduleOPartVIInd0X
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IRS990/InsuranceGrp/ManagementAndGeneralAmt00
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IRS990/InsuranceGrp/TotalAmt0772
IRS990/InvestmentIncomeGrp/ExclusionAmt026839
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IRS990/InvestmentsPubTradedSecGrp/BOYAmt0231735
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IRS990/IRPDocumentCnt02
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt038285
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IRS990/LessRentalExpensesGrp/RealAmt017267
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0To create a vibrant future for agriculture, farm families and their communities.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt01354069
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt03899
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetRentalIncomeOrLossGrp/ExclusionAmt0-3114
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt0-3114
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt01354069
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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherExpensesGrp/Desc1Membership acquisition
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IRS990/OtherExpensesGrp/FundraisingAmt20
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt00
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt20
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IRS990/OtherExpensesGrp/ProgramServicesAmt20
IRS990/OtherExpensesGrp/TotalAmt02883
IRS990/OtherExpensesGrp/TotalAmt1627
IRS990/OtherExpensesGrp/TotalAmt25576
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Mike Borcherding
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IRS990/ProgSrvcAccomActy3Grp/Desc0See Schedule O.
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IRS990/PYGrantsAndSimilarPaidAmt02772
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IRS990/PYTotalRevenueAmt01108382
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0false
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0true
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0Part III-A, Line 1. 90% of dues came from persons, families, or entities who paid annual dues of $132 or less in 2023. See Rev. Proc. 2022-38.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0Other
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0116008
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IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0138
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt01006715
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01035200

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.40$0.01$1.40$0.14$0.12$0.02
2023Detailed filing. Detailed filing data is available for this year.$1.36$0.01$1.35$0.12$0.11$0.01
2023Summary only. Only limited summary data is available for this year.$1.36$0.01$1.35$0.12$0.11$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.32$0.01$1.31$1.11$0.09$1.02
2021Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.33$0.15$0.12$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.29$0.00$0.29$0.13$0.11$0.02
2019Summary only. Only limited summary data is available for this year.$0.25$0.00$0.13$0.12$0.01
2018Summary only. Only limited summary data is available for this year.$0.21$0.01$0.12$0.12$0.01
2017Summary only. Only limited summary data is available for this year.$0.22$0.00$0.13$0.12$0.01
2016Summary only. Only limited summary data is available for this year.$0.20$0.01$0.12$0.13$0.01
2015Summary only. Only limited summary data is available for this year.$0.21$0.01$0.12$0.12$0.00
2014Summary only. Only limited summary data is available for this year.$0.21$0.00$0.12$0.12$0.00
2013Summary only. Only limited summary data is available for this year.$0.20$0.00$0.12$0.12$0.00
2012Summary only. Only limited summary data is available for this year.$0.17$0.00$0.12$0.11$0.01
2011Summary only. Only limited summary data is available for this year.$0.15$0.00$0.13$0.13$0.00