Civic Intelligence

Iowa Corn Promotion Board

990 • Fiscal year 2014 • EIN 42-1113939

Sep 01, 2013 to Aug 31, 2014 • Filed on Mar 07, 2015

Organization ProfileWWW.IOWACORN.ORG
5505 NW 88th Street No 10050131

(515) 225-9242

Siviq Scores

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

Liabilities / Assets

37th percentile

0.01x

Higher debt load relative to assets than 37% of similar nonprofits.

2014 filings • 501(c)5 • $10M-$25M nonprofits • Source year 2014

Liabilities / Revenue

24th percentile

0.01x

Higher debt load relative to revenue than 24% of similar nonprofits.

2014 filings • 501(c)5 • $10M-$25M nonprofits • Source year 2014

Net Margin

53rd percentile

6.3%

Higher net margin than 53% of similar nonprofits.

2014 filings • 501(c)5 • $10M-$25M nonprofits • Source year 2014

Top Officer Pay

88th percentile

$373,313

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2014 filings • 501(c)5 • $10M-$25M nonprofits • Source year 2014

Asset Growth

6th percentile

-10%

Faster asset growth than 6% of similar nonprofits.

2014 filings • 501(c)5 • $10M-$25M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Balance Sheet
Liabilities / Assets37th percentile

Assets

Down

$10,656,630

Down $1,232,292 (-10%) from 2013

Net Assets

Up

$10,502,715

Up $1,153,766 (+12%) from 2013

Liabilities

Down

$153,915

Down $2,386,058 (-94%) from 2013

Revenue And Expenses
Liabilities / Revenue24th percentileNet Margin53rd percentile

Revenue

$18,368,870

No earlier filing loaded for comparison.

Expenses

Down

$17,215,104

Down $948,034 (-5.2%) from 2013

Net Income

$1,153,766

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset Growth6th percentile

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

$30M$20M$10M$0Assets 2010: $10,062,167Liabilities 2010: $678,917Net Assets 2010: $9,383,2502010Assets 2011: $10,628,766Liabilities 2011: $75,600Net Assets 2011: $10,553,1662011Assets 2012: $11,668,453Liabilities 2012: $114,623Net Assets 2012: $11,553,8302012Assets 2013: $11,888,922Liabilities 2013: $2,539,973Net Assets 2013: $9,348,9492013Assets 2014: $10,656,630Liabilities 2014: $153,915Net Assets 2014: $10,502,7152014Assets 2015: $11,846,533Liabilities 2015: $113,169Net Assets 2015: $11,733,3642015Assets 2016: $13,991,144Liabilities 2016: $249,437Net Assets 2016: $13,741,7072016Assets 2017: $16,538,897Liabilities 2017: $3,224,971Net Assets 2017: $13,313,9262017Assets 2018: $19,489,371Liabilities 2018: $2,367,112Net Assets 2018: $17,122,2592018Assets 2019: $20,845,483Liabilities 2019: $1,221,006Net Assets 2019: $19,624,4772019Assets 2020: $23,359,548Liabilities 2020: $286,268Net Assets 2020: $23,073,2802020Assets 2021: $25,536,822Liabilities 2021: $162,512Net Assets 2021: $25,374,3102021Assets 2022: $28,871,996Liabilities 2022: $167,953Net Assets 2022: $28,704,0432022Assets 2023: $28,599,152Liabilities 2023: $210,517Net Assets 2023: $28,388,6352023

Highlighted filing

2014

Assets$10,656,630
Liabilities$153,915
Net Assets$10,502,715
Open 2014 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$30M$20M$10M$0-$10MExpenses 2010: $13,049,2722010Expenses 2011: $12,882,8652011Expenses 2012: $13,856,1052012Expenses 2013: $18,163,1382013Revenue 2014: $18,368,870Expenses 2014: $17,215,104Net Income 2014: $1,153,7662014Revenue 2015: $19,463,097Expenses 2015: $18,232,448Net Income 2015: $1,230,6492015Revenue 2016: $21,264,258Expenses 2016: $19,255,915Net Income 2016: $2,008,3432016Revenue 2017: $22,107,878Expenses 2017: $22,535,659Net Income 2017: -$427,7812017Revenue 2018: $23,705,800Expenses 2018: $19,897,467Net Income 2018: $3,808,3332018Revenue 2019: $21,226,169Expenses 2019: $18,723,951Net Income 2019: $2,502,2182019Revenue 2020: $22,013,466Expenses 2020: $18,564,664Net Income 2020: $3,448,8022020Revenue 2021: $21,209,650Expenses 2021: $18,908,620Net Income 2021: $2,301,0302021Revenue 2022: $24,524,776Expenses 2022: $21,195,043Net Income 2022: $3,329,7332022Revenue 2023: $21,595,790Expenses 2023: $21,911,198Net Income 2023: -$315,4082023

Highlighted filing

2014

Revenue$18,368,870
Expenses$17,215,104
Net Income$1,153,766
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2013 to Aug 31, 2014
Signed
Mar 7, 2015
Return Version
2013v4.0
Gross Receipts
$18,369,495
Mission and Program Overview

Mission

The iowa corn promotion board (icpb) works to develop and defend markets, fund research, and provide education about corn and corn products. Icpb's mission is to create opportunities for long term iowa corn grower profitability.

Creating opportunities for long-term iowa corn grower profitability.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$5,770,258$5,776,015▲ $5,757
Cash and Non-Interest-Bearing Accounts$4,664,636$2,453,279▼ $2,211,357
Loans From Officers Directors$2,429,009$0▼ $2,429,009
Accounts Receivable$1,205,894$2,099,305▲ $893,411
Land, Buildings, and Equipment, Net$243,941$323,664▲ $79,723
Prepaid Expenses and Deferred Charges$4,193$4,367▲ $174
Total Assets$11,888,922$10,656,630▼ $1,232,292
Liabilities
Accounts Payable and Accrued Expenses$94,453$135,209▲ $40,756
Other Liabilities$16,511$18,706▲ $2,195
Total Liabilities$2,539,973$153,915▼ $2,386,058
Net Assets / Fund Balance
Unrestricted Net Assets$9,348,949$10,502,715▲ $1,153,766
Total Net Assets Fund Balance$9,348,949$10,502,715▲ $1,153,766
Total Liabilities and Net Assets / Fund Balance$11,888,922$10,656,630▼ $1,232,292

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$323,664$591,950$915,614
Leasehold Improvements$0$15,053$15,053
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Craig FlossCheif Executive OfficerFT$322,473$50,840$373,313
Julie KirbyDirector of Finance & BusiFT$146,130$27,000$173,130
Wayne HumphreysDirectorPT$7,808-$7,808
Chris EdgingtonVice-presidentPT$7,786-$7,786
Larry KleverDirectorPT$7,003-$7,003
Kevin RemppChairPT$6,728-$6,728
Roscoe EggersDirectorPT$6,089-$6,089
Deb KellerDirectorPT$4,917-$4,917
Duane AistropeDirectorPT$4,553-$4,553
Nick LeiboldDirectorPT$3,581-$3,581
Bob BowmanPresidentPT$2,920-$2,920
Lowell AppletonDirectorPT$2,701-$2,701
Mark HeckmanDirectorPT$1,600-$1,600
Don HunerdosseDirectorPT$1,558-$1,558

Board Members and Trustees

NameTitle
Chris WeydertDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Iowa Corn Growers AssociationAdministrative Contract Fee-$973,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$18,239,221
Investment Income
$5,132
Other Revenue
$124,517
Change in Net Assets
$1,153,766

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,368,870
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$18,368,870
Total Revenue per Form 990
$18,368,870
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$16,203,408
Other Expenses$942,616
Salaries, Compensation, and Employee Benefits$69,080
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$16,203,408
Travel---$207,515
Insurance---$183,091
Depreciation Depletion---$132,001
Office Expenses---$125,210
Occupancy---$75,573
Current Officers, Directors, Trustees, and Key Employees---$69,080
Fees for Services Accounting---$54,989
Fees for Services Other---$49,412
Conferences and Meetings---$31,688
Other Expenses---$22,804
Fees for Services Legal---$7,231
Interest---$1,694
All Other Expenses---$1,573
Total Functional Expenses$0$0$0$17,215,104

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$17,215,104
Total Expenses per Audited Statements$17,215,104
Total Expenses per Form 990$17,215,104
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
42-1036179-501(c)(5)Grant to Carry Out Programs of the Iowa Corn Promotion Board$16,203,408
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$2,429,009$0▼ $2,429,009
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Leasehold Payable$18,706
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
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 A, Line 7A

“Statutory authority for the iowa corn promotion board (icpb) is established under chapter 185c of the code of iowa. Directors of icpb are elected by eligible qualified corn producers in the state of iowa. A qualified corn producer is any individual or entity engaged in the production of a minimum of two hundred fifty (250) bushels of corn in the state of iowa. A nominating committee is designated by the board and is made up of five qualified corn producers in the district in which the election will take place. The nominating committee nominates two resident producers as candidates for each director position that is to be filled. Additional candidates may be nominated by a written petition of twenty-five (25) producers. Notice of elections for directors of icpb are made public. Each qualfied corn producer is entitled to one vote within the corn district in which they reside. The candidate receiving the highest number of votes is elected to board of directors for icpb for a three year term.”

Form 990, Part VI, Section B, Line 11

“The form 990 is reviewed by the director of finance with the external accountant. The final form 990 is reviewed by the executive committee and is provided to the board of directors prior to filing with the irs.”

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

“Iowa corn promotion board (icpb) has a conflict of interest policy. Board members and officers annually complete and sign a conflict of interest statement. To the extent a board member, committee member, or officer has a conflict of interest, they leave the room and abstain from voting on such matter. Identified conflict of interest situations and deliberations are contemporaneously documented in the board minutes.”

Form 990, Part VI, Section C, Line 19

“The financial statements of the organization are available at the organization's office, in the state of iowa auditor's office, and on the state of iowa auditor's website. Conflict of interest statement and other governing documents available upon request.”

990, Part VI, Section B, Line 15

“Icpb relies on iowa corn growers association (an affiliate through common management) for establishing compensation of the chief executive officer (ceo). The ceo annual performance is reviewed by all members of the board. The independent ceo review committee uses an independent 3rd party to evaluate the performance feedback and comparability data, also provided by an independent 3rd party, to determine a recommendation of ceo compensation to be presented and voted on by the board. The recommendation and board approval is contemporaneously documented in the board minutes. Documentation of the board's compensation recommendation, signed by the board chair, is provided to the payroll department. Key employees, other than the ceo, go through an annual review process. Comparability data, provided by an independent 3rd party, is used for each position. The ceo reviews key employee performance and compensation information with the executive committee. Compensation changes are documented and retained by the organization's payroll department. The organization had an independent compensation study performed on the ceo in august 2014. A review of other officers and key employees is done on a 3 year rotation and was completed by an independent consultant in 2013.”

990, Part VI, Section A , Line 3

“Statutory authority for the iowa corn promotion board (icpb) is established under chapter 185c of the code of iowa. The icpb may carry out the purposes specified in iowa code section 185c.11 either directly or through contract with other qualified organizations. The icpb has contracted with the iowa corn growers association to develop, maintain and expand markets for u.s. Corn and to work toward a better public understanding of corn and agriculture in order to achieve increased profitability for corn growers. In addition, certain administrative expenses are paid by the iowa corn growers association and reimbursed by the icpb under a contractual agreement.”

990, Part VII, Section A

“Officer hours: average hours per week devoted to position with iowa corn growers association - affiliate through common management: julie kirby - 12 hrs craig floss - 16 hrs”

Filing and Contact Details

Filer

EIN
42-1113939
Phone
5152259242

Signing Officer

Name
Craig Floss
Title
CEO
Phone
5152259242
Signed
2015-03-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Floss
Formed
1977
Legal Domicile
Ia
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
397

Preparer

Preparer
Kathy Fairchild
Phone
5155586600
Supplemental Narrative

Additional Explanations

FORM 990, PART I, LINE 6:

“Volunteers consist of board members and committee members.”

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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/Desc0MARKET DEVELOPMENT: THE IOWA CORN PROMOTION BOARD (ICPB) PARTICIPATES IN ACTIVITIES AND PROGRAMS THAT IMPROVE THE UTILIZATION OF CORN THROUGH THE DEVELOPMENT OF NEW OR EXPANDED DOMESTIC AND FOREIGN MARKETS AND TO PROVIDE FOR THE PREVENTION, MODIFICATION, AND ELIMINATION OF TRADE BARRIERS. AN EXAMPLE OF MARKET DEVELOPMENT PROGRAMS INCLUDE PARTNERSHIP WITH THE US GRAINS COUNCIL AND THE US MEAT EXPORT FEDERATION TO BUILD DEMAND INTERNATIONALLY FOR CORN AND CORN PRODUCTS/MEAT. ICPB INVESTMENT IN THOSE FOREIGN TRADE PARTNERS IS MULTIPLIED THROUGH THE INVOLVEMENT OF MANY CORN STATES AND MATCHED WITH GOVERNMENTAL SUPPORT. IN STATE, ICPB WORKS TO DEVELOP MARKETS SUCH AS LIVESTOCK THROUGH A COALITION EFFORT WITH 7 OTHER COMMMODITY GROUPS. ETHANOL IS A LEADING MARKET FOR IOWA CORN AND THE ICPB WORKS TO PROMOTE THE USE OF CORN ETHANOL THROUGH PUBLIC EVENTS SUCH AS PUMP PROMOTIONS, NASCAR AND THE IOWA CORN 300. AS WELL AS MULTI-PLATFORM ADVERTISING CAMPAIGNS INCLUDING BROADCAST, PRINT, RADIO AND SOCIAL MEDIA. ICPB IS ALSO WORKING TO INCREASE HIGHER BLENDS OF ETHANOL IN IOWA AND ACROSS THE U.S.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE-PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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 OF FINANCE & BUSI
IRS990/Form990PartVIISectionAGrp/TitleTxt14CHEIF EXECUTIVE OFFICER
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0THE IOWA CORN PROMOTION BOARD WORKS TO DEVELOP AND DEFEND MARKETS, FUND RESEARCH, AND PROVIDE EDUCATION ABOUT CORN AND CORN PRODUCTS. THE ORGANIZATION'S MISSION IS TO CREATE OPPORTUNITIES FOR LONG TERM IOWA CORN GROWER PROFITABILITY.
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IRS990/OperateHospitalInd00
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IRS990/OtherExpensesGrp/Desc1CHECKOFF COLLECTION
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IRS990/OtherExpensesGrp/TotalAmt122804
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IRS990/OtherLiabilitiesGrp/EOYAmt018706
IRS990/PartialLiquidationInd00
IRS990/PoliticalCampaignActyInd00
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt018239221
IRS990/ProgSrvcAccomActy2Grp/Desc0RESEARCH: THE IOWA CORN PROMOTION BOARD (ICPB) INVESTS IN RESEARCH AND BUSINESS DEVELOPMENT TO DEVELOP HIGHER VALUE INDUSTRIAL USES FOR CORN TO INCREASE THE DEMAND AND THE VALUE OF CORN AS A RAW MATERIAL. THE RESEARCH PROGRAMS ALSO PUT CORN GROWER DOLLARS TO WORK BY DEVELOPING CORN TRAITS TO IMPROVE CORN PRODUCTION AND VALUE ADDED PROCESSING. THE BUSINESS DEVELOPMENT PROGRAMS AT ICPB LEVERAGE THE TECHNOLOGY, PATENTS, AND UPCOMING RESEARCH TO BETTER THE OPPORTUNITIES AVAILABLE TO IOWA'S CORN GROWERS. ULTIMATELY, THESE PROGRAMS WILL DEVELOP INNOVATIONS TO EXPAND THE MARKET FOR THE CORN INDUSTRY AND INCREASE RURAL DEVELOPMENT OPPORTUNITIES.
IRS990/ProgSrvcAccomActy3Grp/Desc0EDUCATION/PROMOTIONS: THE IOWA CORN PROMOTION BOARD (ICPB) EDUCATIONAL PROGRAMS WORK TO REACH BOTH PRODUCER AND CONSUMER AUDIENCES ABOUT THE ECONOMIC AND ENVIRONMENTAL VITALITY OF THE CORN INDUSTRY IN THE STATE OF IOWA. EDUCATION ABOUT CORN AND THE PRODUCTS MADE FROM CORN HAPPENS THROUGH ADVERTISING, EARNED MEDIA, AND VARIOUS PROMOTIONAL EVENTS. THROUGH A MULTI PLATFORM PROMOTION AND OUTREACH CAMPAIGN CALLED THE IOWA CORN CYHAWK SERIES, THE ICPB PRODUCED A POSITIVE STATEWIDE FOOD AND FUEL CAMPAIGN. SCHOOL PROGRAMS, GRASSROOTS EVENTS AND COUNTY ORGANIZATIONS USE CORN RELATED MATERIALS TO TALK WITH STUDENTS AND ATTENDEES ABOUT WHERE THEIR FOOD AND FUEL COMES FROM. EDUCATION OF CONSUMERS AND PRODUCERS HAPPENS IN STATE AND ON A NATIONAL LEVEL THROUGH WORKING WITH OTHER CORN STATE ASSOCIATIONS ON JOINT PROMOTIONS. IN IOWA, EDUCATION ALSO TAKES PLACE BY LEVERAGING PEOPLE AND INVESTMENTS WITH AFFILIATE ORGANIZATIONS WITHIN AGRICULTURE.
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IRS990/RegularMonitoringEnfrcInd01
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IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
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IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt0124517
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt05776015
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt015053
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt018706
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASEHOLD PAYABLE
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt018368870
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0323664
IRS990ScheduleD/TotalExpensesPerForm990Amt017215104
IRS990ScheduleD/TotalLiabilityAmt018706
IRS990ScheduleD/TotalRevenuePerForm990Amt018368870
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt018368870
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt017215104
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt016203408
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(5)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GRANT TO CARRY OUT PROGRAMS OF THE IOWA CORN PROMOTION BOARD
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine10IOWA CORN GROWERS ASSOCIATION
IRS990ScheduleI/RecipientTable/RecipientEIN0421036179
IRS990ScheduleI/RecipientTable/USAddress/AddressLine105505 NW 88TH STREET
IRS990ScheduleI/RecipientTable/USAddress/City0JOHNSTON
IRS990ScheduleI/RecipientTable/USAddress/State0IA
IRS990ScheduleI/RecipientTable/USAddress/ZIPCode050131
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE IOWA CORN PROMOTION BOARD (ICPB) HAS CONTRACTED THE IOWA CORN GROWERS ASSOCIATION (ICGA) TO CARRY OUT THE PROGRAMS OF THE ICPB THROUGH A GRANT. THE ICPB AND ICGA CARRY OUT THE PROGRAMS OF THE ICPB THROUGH THE USE OF JOINT COMMITTEES.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/Total501c3OrgCnt00
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0146130
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt1322473
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount09207
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt08104
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt116750
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt09689
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt125615
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt18475
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0JULIE KIRBY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CRAIG FLOSS
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0DIRECTOR OF FINANCE & BUSI
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1CHEIF EXECUTIVE OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0173130
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt1373313
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt10
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE FILING ORGANIZATION RELIES ON IOWA CORN GROWERS ASSOCIATION (AN AFFILIATE THROUGH COMMON MANAGEMENT) FOR ESTABLISHING THE CHIEF EXECUTIVE OFFICER'S COMPENSATION. SEE CORE FORM 990, PART VI, SECTION B, LINE 15 SCHEDULE O DISCLOSURE FOR FURTHER INFORMATION REGARDING THE PROCESS UTILIZED.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J PART 1 LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS CONSIST OF BOARD MEMBERS AND COMMITTEE MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STATUTORY AUTHORITY FOR THE IOWA CORN PROMOTION BOARD (ICPB) IS ESTABLISHED UNDER CHAPTER 185C OF THE CODE OF IOWA. DIRECTORS OF ICPB ARE ELECTED BY ELIGIBLE QUALIFIED CORN PRODUCERS IN THE STATE OF IOWA. A QUALIFIED CORN PRODUCER IS ANY INDIVIDUAL OR ENTITY ENGAGED IN THE PRODUCTION OF A MINIMUM OF TWO HUNDRED FIFTY (250) BUSHELS OF CORN IN THE STATE OF IOWA. A NOMINATING COMMITTEE IS DESIGNATED BY THE BOARD AND IS MADE UP OF FIVE QUALIFIED CORN PRODUCERS IN THE DISTRICT IN WHICH THE ELECTION WILL TAKE PLACE. THE NOMINATING COMMITTEE NOMINATES TWO RESIDENT PRODUCERS AS CANDIDATES FOR EACH DIRECTOR POSITION THAT IS TO BE FILLED. ADDITIONAL CANDIDATES MAY BE NOMINATED BY A WRITTEN PETITION OF TWENTY-FIVE (25) PRODUCERS. NOTICE OF ELECTIONS FOR DIRECTORS OF ICPB ARE MADE PUBLIC. EACH QUALFIED CORN PRODUCER IS ENTITLED TO ONE VOTE WITHIN THE CORN DISTRICT IN WHICH THEY RESIDE. THE CANDIDATE RECEIVING THE HIGHEST NUMBER OF VOTES IS ELECTED TO BOARD OF DIRECTORS FOR ICPB FOR A THREE YEAR TERM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS REVIEWED BY THE DIRECTOR OF FINANCE WITH THE EXTERNAL ACCOUNTANT. THE FINAL FORM 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE AND IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3IOWA CORN PROMOTION BOARD (ICPB) HAS A CONFLICT OF INTEREST POLICY. BOARD MEMBERS AND OFFICERS ANNUALLY COMPLETE AND SIGN A CONFLICT OF INTEREST STATEMENT. TO THE EXTENT A BOARD MEMBER, COMMITTEE MEMBER, OR OFFICER HAS A CONFLICT OF INTEREST, THEY LEAVE THE ROOM AND ABSTAIN FROM VOTING ON SUCH MATTER. IDENTIFIED CONFLICT OF INTEREST SITUATIONS AND DELIBERATIONS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FINANCIAL STATEMENTS OF THE ORGANIZATION ARE AVAILABLE AT THE ORGANIZATION'S OFFICE, IN THE STATE OF IOWA AUDITOR'S OFFICE, AND ON THE STATE OF IOWA AUDITOR'S WEBSITE. CONFLICT OF INTEREST STATEMENT AND OTHER GOVERNING DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ICPB RELIES ON IOWA CORN GROWERS ASSOCIATION (AN AFFILIATE THROUGH COMMON MANAGEMENT) FOR ESTABLISHING COMPENSATION OF THE CHIEF EXECUTIVE OFFICER (CEO). THE CEO ANNUAL PERFORMANCE IS REVIEWED BY ALL MEMBERS OF THE BOARD. THE INDEPENDENT CEO REVIEW COMMITTEE USES AN INDEPENDENT 3RD PARTY TO EVALUATE THE PERFORMANCE FEEDBACK AND COMPARABILITY DATA, ALSO PROVIDED BY AN INDEPENDENT 3RD PARTY, TO DETERMINE A RECOMMENDATION OF CEO COMPENSATION TO BE PRESENTED AND VOTED ON BY THE BOARD. THE RECOMMENDATION AND BOARD APPROVAL IS CONTEMPORANEOUSLY DOCUMENTED IN THE BOARD MINUTES. DOCUMENTATION OF THE BOARD'S COMPENSATION RECOMMENDATION, SIGNED BY THE BOARD CHAIR, IS PROVIDED TO THE PAYROLL DEPARTMENT. KEY EMPLOYEES, OTHER THAN THE CEO, GO THROUGH AN ANNUAL REVIEW PROCESS. COMPARABILITY DATA, PROVIDED BY AN INDEPENDENT 3RD PARTY, IS USED FOR EACH POSITION. THE CEO REVIEWS KEY EMPLOYEE PERFORMANCE AND COMPENSATION INFORMATION WITH THE EXECUTIVE COMMITTEE. COMPENSATION CHANGES ARE DOCUMENTED AND RETAINED BY THE ORGANIZATION'S PAYROLL DEPARTMENT. THE ORGANIZATION HAD AN INDEPENDENT COMPENSATION STUDY PERFORMED ON THE CEO IN AUGUST 2014. A REVIEW OF OTHER OFFICERS AND KEY EMPLOYEES IS DONE ON A 3 YEAR ROTATION AND WAS COMPLETED BY AN INDEPENDENT CONSULTANT IN 2013.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6STATUTORY AUTHORITY FOR THE IOWA CORN PROMOTION BOARD (ICPB) IS ESTABLISHED UNDER CHAPTER 185C OF THE CODE OF IOWA. THE ICPB MAY CARRY OUT THE PURPOSES SPECIFIED IN IOWA CODE SECTION 185C.11 EITHER DIRECTLY OR THROUGH CONTRACT WITH OTHER QUALIFIED ORGANIZATIONS. THE ICPB HAS CONTRACTED WITH THE IOWA CORN GROWERS ASSOCIATION TO DEVELOP, MAINTAIN AND EXPAND MARKETS FOR U.S. CORN AND TO WORK TOWARD A BETTER PUBLIC UNDERSTANDING OF CORN AND AGRICULTURE IN ORDER TO ACHIEVE INCREASED PROFITABILITY FOR CORN GROWERS. IN ADDITION, CERTAIN ADMINISTRATIVE EXPENSES ARE PAID BY THE IOWA CORN GROWERS ASSOCIATION AND REIMBURSED BY THE ICPB UNDER A CONTRACTUAL AGREEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7OFFICER HOURS: AVERAGE HOURS PER WEEK DEVOTED TO POSITION WITH IOWA CORN GROWERS ASSOCIATION - AFFILIATE THROUGH COMMON MANAGEMENT: JULIE KIRBY - 12 HRS CRAIG FLOSS - 16 HRS
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 6:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6990, PART VI, SECTION A , LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7990, PART VII, SECTION A
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt011888922
IRS990/TotalAssetsEOYAmt010656630
IRS990/TotalAssetsGrp/BOYAmt011888922
IRS990/TotalAssetsGrp/EOYAmt010656630
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt017215104
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02539973
IRS990/TotalLiabilitiesEOYAmt0153915
IRS990/TotalLiabilitiesGrp/BOYAmt02539973
IRS990/TotalLiabilitiesGrp/EOYAmt0153915
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt09348949
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010502715

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,656,630
Liabilities
$153,915
Net assets
$10,502,715
Revenue
$18,368,870
Expenses
$17,215,104
Net income
$1,153,766
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$28.6$0.21$28.4$21.6$21.9$0.32
2022Summary only. Only limited summary data is available for this year.$28.9$0.17$28.7$24.5$21.2$3.33
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.5$0.16$25.4$21.2$18.9$2.30
2020Summary only. Only limited summary data is available for this year.$23.4$0.29$23.1$22.0$18.6$3.45
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.8$1.22$19.6$21.2$18.7$2.50
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.5$2.37$17.1$23.7$19.9$3.81
2017Summary only. Only limited summary data is available for this year.$16.5$3.22$13.3$22.1$22.5$0.43
2016Detailed filing. Detailed filing data is available for this year.$14.0$0.25$13.7$21.3$19.3$2.01
2015Detailed filing. Detailed filing data is available for this year.$11.8$0.11$11.7$19.5$18.2$1.23
2014Detailed filing. Detailed filing data is available for this year.$10.7$0.15$10.5$18.4$17.2$1.15
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.9$2.54$9.35$18.2
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.7$0.11$11.6$13.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$0.08$10.6$12.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.1$0.68$9.38$13.0