Civic Intelligence

Iowa Farm Bureau Federation

EIN 42-0685010 • 501(c)5 • Spencer, IA

Profile

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

508 Grand AveSpencer, IA 51301

n/A

Siviq Scores

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

Liabilities / Assets

43rd percentile

0.00x

Higher debt load relative to assets than 43% of similar nonprofits.

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

Liabilities / Revenue

65th percentile

0.04x

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

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

Net Margin

44th percentile

5.4%

Higher net margin than 44% of similar nonprofits.

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

Top Officer Pay

21st percentile

$40

Higher top officer pay than 21% of similar nonprofits.

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

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

Asset Growth

30th percentile

0.8%

Faster asset growth than 30% of similar nonprofits.

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

Revenue Growth

39th percentile

3.2%

Faster revenue growth than 39% of similar nonprofits.

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

Assets

Up

$1,173,175

Up $9,071 (+0.8%) from 2023

Liabilities

Up

$3,853

Up $202 (+5.5%) from 2023

Net Assets

Up

$1,169,322

Up $8,869 (+0.8%) from 2023

Revenue

Up

$85,905

Up $2,639 (+3.2%) from 2023

Expenses

Down

$81,294

Down $8,946 (-9.9%) from 2023

Net Income

Up

$4,611

Up $11,585 (+166%) 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: $112,413Liabilities 2011: $1,7152011Assets 2012: $106,033Liabilities 2012: $1,4582012Assets 2013: $99,906Liabilities 2013: $1,3322013Assets 2014: $107,998Liabilities 2014: $2,8662014Assets 2015: $131,180Liabilities 2015: $11,1712015Assets 2016: $135,478Liabilities 2016: $2,4972016Assets 2017: $137,355Liabilities 2017: $3,0612017Assets 2018: $150,440Liabilities 2018: $3,1202018Assets 2019: $168,090Liabilities 2019: $4,0812019Assets 2020: $173,002Liabilities 2020: $2,063Net Assets 2020: $170,9392020Assets 2021: $173,376Liabilities 2021: $1,953Net Assets 2021: $171,4232021Assets 2022: $1,166,290Liabilities 2022: $3,628Net Assets 2022: $1,162,6622022Assets 2023: $1,164,104Liabilities 2023: $3,651Net Assets 2023: $1,160,4532023Assets 2024: $1,173,175Liabilities 2024: $3,853Net Assets 2024: $1,169,3222024

Highlighted filing

2024

Assets$1,173,175
Liabilities$3,853
Net Assets$1,169,322

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $82,683Expenses 2011: $92,985Net Income 2011: -$10,3022011Revenue 2012: $74,137Expenses 2012: $80,260Net Income 2012: -$6,1232012Revenue 2013: $75,088Expenses 2013: $81,089Net Income 2013: -$6,0012013Revenue 2014: $85,355Expenses 2014: $78,797Net Income 2014: $6,5582014Revenue 2015: $92,277Expenses 2015: $77,400Net Income 2015: $14,8772015Revenue 2016: $99,749Expenses 2016: $86,777Net Income 2016: $12,9722016Revenue 2017: $94,092Expenses 2017: $92,779Net Income 2017: $1,3132017Revenue 2018: $94,987Expenses 2018: $81,961Net Income 2018: $13,0262018Revenue 2019: $90,893Expenses 2019: $74,204Net Income 2019: $16,6892019Revenue 2020: $79,448Expenses 2020: $72,518Net Income 2020: $6,9302020Revenue 2021: $79,415Expenses 2021: $78,931Net Income 2021: $4842021Revenue 2022: $1,075,224Expenses 2022: $76,651Net Income 2022: $998,5732022Revenue 2023: $83,266Expenses 2023: $90,240Net Income 2023: -$6,9742023Revenue 2024: $85,905Expenses 2024: $81,294Net Income 2024: $4,6112024

Highlighted filing

2024

Revenue$85,905
Expenses$81,294
Net Income$4,611

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.00$1.17$0.09$0.08$0.00
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.16$0.00$1.16$0.08$0.09$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.17$0.00$1.16$1.08$0.08$1.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.17$0.00$0.17$0.08$0.08$0.00
2020Detailed filing. Detailed filing data is available for this year.$0.17$0.00$0.17$0.08$0.07$0.01
2019Summary only. Only limited summary data is available for this year.$0.17$0.00$0.09$0.07$0.02
2018Summary only. Only limited summary data is available for this year.$0.15$0.00$0.09$0.08$0.01
2017Summary only. Only limited summary data is available for this year.$0.14$0.00$0.09$0.09$0.00
2016Summary only. Only limited summary data is available for this year.$0.14$0.00$0.10$0.09$0.01
2015Summary only. Only limited summary data is available for this year.$0.13$0.01$0.09$0.08$0.01
2014Summary only. Only limited summary data is available for this year.$0.11$0.00$0.09$0.08$0.01
2013Summary only. Only limited summary data is available for this year.$0.10$0.00$0.08$0.08$0.01
2012Summary only. Only limited summary data is available for this year.$0.11$0.00$0.07$0.08$0.01
2011Summary only. Only limited summary data is available for this year.$0.11$0.00$0.08$0.09$0.01
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 21, 2025
Return Version
2024v5.2
Gross Receipts
$89,517
Mission and Program Overview

Mission

Schedule O

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,058,237$1,059,493▲ $1,256
Savings and Temporary Cash Investments$75,630$79,314▲ $3,684
Investments in Publicly Traded Securities$27,968$32,262▲ $4,294
Accounts Receivable$2,269$2,106▼ $163
Land, Buildings, and Equipment, Net$0$0→ $0
Total Assets$1,164,104$1,173,175▲ $9,071
Liabilities
Accounts Payable and Accrued Expenses$3,651$3,853▲ $202
Total Liabilities$3,651$3,853▲ $202
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,160,453$1,169,322▲ $8,869
Total Net Assets Fund Balance$1,160,453$1,169,322▲ $8,869
Total Liabilities and Net Assets / Fund Balance$1,164,104$1,173,175▲ $9,071

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$689$689
Land$0--
Other Securities$995,176--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$1,035,200-▲ $55,670$25,215$1,065,494
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
Ray FoersterVoting Delegate$40$40
Tim SchwennekerDirector$30$30
Casey SchomakerVice President$20$20
Kevin GoekenPresident$20$20
Tyler TessumTreasurer$20$20
Mike MaurerDirector$20$20
Leo StephasDirector$10$10

Board Members and Trustees

NameTitle
Ben PullenDirector
Nick SmithDirector
Anthony MyersDirector (11/24)
Steve SteinbeckFormer Director (10/24)
Barb SchomakerSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$13,149
Program Service Revenue
$42,770
Investment Income
$29,986
Other Revenue
$0
Change in Net Assets
$4,611
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$64,175
Salaries, Compensation, and Employee Benefits$13,783
Grants and Similar Amounts Paid$3,336
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$0$0$0$20,020
Fees for Services Other$0$0$0$13,474
Other Salaries and Wages$0$0$0$12,572
Office Expenses$0$0$0$6,124
Conferences and Meetings$0$0$0$5,836
Travel$0$0$0$5,246
Occupancy$0$0$0$5,079
Grants to Domestic Orgs$0--$2,336
Fees for Services Accounting$0$0$0$1,160
Advertising$0$0$0$1,097
Payroll Taxes$0$0$0$1,004
Grants to Domestic Individuals$0--$1,000
Fees for Services Management$0$0$0$910
Insurance$0$0$0$868
Fees for Service Investment Mgmnt Fees$0$0$0$302
Current Officers, Directors, Trustees, and Key Employees$0$0$0$160
Other Expenses$0$0$0$104
Other Employee Benefits$0$0$0$47
Total Functional Expenses$0$0$0$81,294
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
42-0685010
Phone
7122625708
Address
508 Grand Ave, Spencer, IA 51301
Doing Business As
Clay County Farm Bureau

Signing Officer

Name
Kevin Goeken
Title
President
Phone
7122625708
Signed
2025-10-21
Discuss with paid preparer
Yes

Organization Details

Formed
1913
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
1
Volunteers
302

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

The organization has members. Any person may be a county Farm Bureau member. All county Farm Bureau members have voting rights and the same access to member benefits.

Pt VI, Line 7A

The organizations members elect the Board of Directors.

Pt VI, Line 7B

Certain rights are reserved to members of the organization, including: 1) elect the Board of Directors, including the voting delegate to the Iowa Farm Bureau Federation, 2) adopt amendments to the Articles of Incorporation, and 3) adopt amendments to those bylaws designated as member bylaws.

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 - Policy - The company was active in achieving their goal of influencing public policy for the benefit of their 850 members in the county. The board of directors generated an opinionnaire to distribute to all of their members so they could voice their views on issues that are important to their members. These were distributed via email, and paper versions were made available to members at the companys office. The results were tabulated, and policy was approved by members at their Policy Development Meeting in June and reviewed at the companys Annual Meeting in August.

Other

Part III, Line 4b - Ag Promotion - The company promoted agriculture to members and the general public in various ways. The company purchased print and radio advertising throughout the year that promoted livestock and row crop production, as well as advocating for agriculture to the 16,150 residents of the county. The company hosts an appreciation meal and social gathering in December for all 850 members, with 115 attending. The company also promotes agriculture through activities it hosts and sponsors during the County Fair in September, reaching over 300,000 attendees.

Other

Part III, Line 4c - Agriculture Education - The company is a strong supporter of agriculture education to people of all ages, but especially elementary students at the four public and parochial schools in the county. The company provides monthly in-person school visits plus materials and books to over 550 students in the county. Scholarships were awarded to four eligible high school students, and the company takes part in a STEM program at a middle school in the county that impacted 175 youth in grades 6 through 8. The company also develops relationships with the Spencer and Sioux Central FFA Chapter reaching an additional 95 high school youth.

Pt VI, Line 2

Barb Schomaker and Casey Schomaker 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/PersonNm2Barb Schomaker
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IRS990/Form990PartVIISectionAGrp/TitleTxt2Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Voting Delegate
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IRS990/Form990PartVIISectionAGrp/TitleTxt6Director (11/24)
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
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IRS990/MissionDesc0To create a vibrant future for agriculture, farm families and their communities.
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IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Kevin Goeken
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IRS990/ProgSrvcAccomActy2Grp/Desc0See Schedule O.
IRS990/ProgSrvcAccomActy3Grp/Desc0See Schedule O.
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IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0Part III-A, Line 1. 90% of dues came from persons, families, or entities who paid annual dues of $140 or less in 2024. See Rev. Proc. 2023-34.
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IRS990ScheduleD/OtherSecuritiesGrp/Desc0FBL Deferred Annuity Investment
IRS990ScheduleD/OtherSecuritiesGrp/Desc1CFBRDT, LLC
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization has members. Any person may be a county Farm Bureau member. All county Farm Bureau members have voting rights and the same access to member benefits.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The organizations members elect the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Certain rights are reserved to members of the organization, including: 1) elect the Board of Directors, including the voting delegate to the Iowa Farm Bureau Federation, 2) adopt amendments to the Articles of Incorporation, and 3) adopt amendments to those bylaws designated as member bylaws.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Management 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4On 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Part III, Line 4a - Policy - The company was active in achieving their goal of influencing public policy for the benefit of their 850 members in the county. The board of directors generated an opinionnaire to distribute to all of their members so they could voice their views on issues that are important to their members. These were distributed via email, and paper versions were made available to members at the companys office. The results were tabulated, and policy was approved by members at their Policy Development Meeting in June and reviewed at the companys Annual Meeting in August.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Part III, Line 4b - Ag Promotion - The company promoted agriculture to members and the general public in various ways. The company purchased print and radio advertising throughout the year that promoted livestock and row crop production, as well as advocating for agriculture to the 16,150 residents of the county. The company hosts an appreciation meal and social gathering in December for all 850 members, with 115 attending. The company also promotes agriculture through activities it hosts and sponsors during the County Fair in September, reaching over 300,000 attendees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Part III, Line 4c - Agriculture Education - The company is a strong supporter of agriculture education to people of all ages, but especially elementary students at the four public and parochial schools in the county. The company provides monthly in-person school visits plus materials and books to over 550 students in the county. Scholarships were awarded to four eligible high school students, and the company takes part in a STEM program at a middle school in the county that impacted 175 youth in grades 6 through 8. The company also develops relationships with the Spencer and Sioux Central FFA Chapter reaching an additional 95 high school youth.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Barb Schomaker and Casey Schomaker have a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Other
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Other
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