Civic Intelligence

Iowa Able Foundation

990 • Fiscal year 2019 • EIN 42-1438621

Oct 01, 2018 to Sep 30, 2019 • Filed on Mar 02, 2020

Organization ProfileWWW.IOWAABLE.ORG
130 S Sheldon Ave Ste 201Ames, IA 50014

(515) 292-2972

Siviq Scores

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

Liabilities / Assets

70th percentile

0.03x

Higher debt load relative to assets than 70% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

77th percentile

0.05x

Higher debt load relative to revenue than 77% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

77th percentile

21%

Higher net margin than 77% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

83rd percentile

$17,205

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 6.1% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

70th percentile

18%

Faster asset growth than 70% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

95th percentile

164%

Faster revenue growth than 95% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets70th percentile

Assets

Up

$435,173

Up $67,823 (+18%) from 2018

Net Assets

Up

$422,508

Up $59,207 (+16%) from 2018

Liabilities

Up

$12,665

Up $8,616 (+213%) from 2018

Revenue And Expenses
Liabilities / Revenue77th percentileNet Margin77th percentile

Revenue

Up

$281,434

Up $174,965 (+164%) from 2018

Expenses

Up

$222,277

Up $44,140 (+25%) from 2018

Net Income

Up

$59,157

Up $130,825 (+183%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth70th percentile

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

$1.5M$1.0M$500K$0Assets 2011: $1,171,804Liabilities 2011: $0Net Assets 2011: $1,171,8042011Assets 2012: $1,016,581Liabilities 2012: $192Net Assets 2012: $1,016,3892012Assets 2013: $876,618Liabilities 2013: $0Net Assets 2013: $876,6182013Assets 2014: $762,375Liabilities 2014: $0Net Assets 2014: $762,3752014Assets 2015: $593,601Liabilities 2015: $2,523Net Assets 2015: $591,0782015Assets 2016: $526,849Liabilities 2016: $12,432Net Assets 2016: $514,4172016Assets 2017: $441,979Liabilities 2017: $7,010Net Assets 2017: $434,9692017Assets 2018: $367,350Liabilities 2018: $4,049Net Assets 2018: $363,3012018Assets 2019: $435,173Liabilities 2019: $12,665Net Assets 2019: $422,5082019Assets 2020: $498,901Liabilities 2020: $9,805Net Assets 2020: $489,0962020Assets 2021: $797,537Liabilities 2021: $72,100Net Assets 2021: $725,4372021Assets 2022: $718,508Liabilities 2022: $15,108Net Assets 2022: $703,4002022Assets 2023: $723,157Liabilities 2023: $158,476Net Assets 2023: $564,6812023Assets 2024: $717,867Liabilities 2024: $106,832Net Assets 2024: $611,0352024

Highlighted filing

2019

Assets$435,173
Liabilities$12,665
Net Assets$422,508
Open 2019 Filing

Operations Trend

Revenue Growth95th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $163,465Expenses 2011: $304,738Net Income 2011: -$141,2732011Revenue 2012: $62,192Expenses 2012: $217,607Net Income 2012: -$155,4152012Revenue 2013: $64,920Expenses 2013: $204,691Net Income 2013: -$139,7712013Revenue 2014: $59,474Expenses 2014: $173,717Net Income 2014: -$114,2432014Revenue 2015: $68,144Expenses 2015: $239,441Net Income 2015: -$171,2972015Revenue 2016: $121,652Expenses 2016: $198,313Net Income 2016: -$76,6612016Revenue 2017: $129,620Expenses 2017: $209,068Net Income 2017: -$79,4482017Revenue 2018: $106,469Expenses 2018: $178,137Net Income 2018: -$71,6682018Revenue 2019: $281,434Expenses 2019: $222,277Net Income 2019: $59,1572019Revenue 2020: $315,470Expenses 2020: $249,181Net Income 2020: $66,2892020Revenue 2021: $561,573Expenses 2021: $325,232Net Income 2021: $236,3412021Revenue 2022: $246,307Expenses 2022: $279,231Net Income 2022: -$32,9242022Revenue 2023: $221,382Expenses 2023: $292,334Net Income 2023: -$70,9522023Revenue 2024: $189,752Expenses 2024: $288,699Net Income 2024: -$98,9472024

Highlighted filing

2019

Revenue$281,434
Expenses$222,277
Net Income$59,157
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2018 to Sep 30, 2019
Signed
Mar 2, 2020
Return Version
2018v3.1
Gross Receipts
$285,416
Mission and Program Overview

Mission

The iowa able foundation empowers iowans with disabilities, their families, and the aging to achieve and maintain independence through lending, educating, and advancing.

Administer loan programs for iowans with disabilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$214,265$201,553▼ $12,712
Other Notes and Loans Receivable, Net$131,274$129,696▼ $1,578
Cash and Non-Interest-Bearing Accounts$12,013$78,136▲ $66,123
Accounts Receivable$8,933$12,780▲ $3,847
Investments in Publicly Traded Securities-$10,486-
Prepaid Expenses and Deferred Charges$865$2,522▲ $1,657
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$367,350$435,173▲ $67,823
Other Assets Total-$0-
Liabilities
Deferred Revenue-$8,000-
Accounts Payable and Accrued Expenses$4,049$4,665▲ $616
Total Liabilities$4,049$12,665▲ $8,616
Net Assets / Fund Balance
Unrestricted Net Assets$363,301$412,022▲ $48,721
Temporarily Rstr Net Assets-$10,486-
Total Net Assets Fund Balance$363,301$422,508▲ $59,207
Total Liabilities and Net Assets / Fund Balance$367,350$435,173▲ $67,823

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018-$10,500▲ $111-$10,486
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Anna MagnussonExecutive DirectorFT$17,205$17,205

Board Members and Trustees

NameTitle
Brian SmithPresident
John MccalleyDirector
John MikelsonDirector
Lisa BakerDirector
Nicole LarsonDirector
Rik ShannonDirector
Tracy KenigerDirector
Paige EastinSecretary
George KlotzbachTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$235,506
Program Service Revenue
$14,844
Investment Income
$2,766
Other Revenue
$28,318
All Other Contributions
$235,506
Change in Net Assets
$59,157

Audited Revenue Reconciliation

Revenue per Audited Statements
$281,434
Revenue Not Reported on Form 990
$50
Total Revenue per Audited Statements
$281,484
Total Revenue per Form 990
$281,434
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$132,831
Other Expenses$89,446
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$89,447$10,032-$99,479
Current Officers, Directors, Trustees, and Key Employees$12,904$4,301-$17,205
Fees for Services Other$6,700$8,456-$15,156
All Other Expenses$14,514$625-$15,139
Advertising$10,444--$10,444
Payroll Taxes$7,210$2,404-$9,614
Other Employee Benefits$4,900$1,633-$6,533
Occupancy$6,254--$6,254
Other Expenses$3,261$1,334-$4,595
Office Expenses$3,601--$3,601
Insurance$3,073--$3,073
Total Functional Expenses$193,492$28,785$0$222,277

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$222,277
Total Expenses per Audited Statements$222,277
Total Expenses per Form 990$222,277
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$7,300
Fundraising Direct Expenses$3,982
Professional Fundraising Fees$0
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
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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
No
CEO compensation reviewed
Yes
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, Line 11B: Form 990 Review Process

“Form 990, part vi, section b, line 11:the 990 was reviewed at a meeting of the board of directors for approval before filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The organization requires a signed written statement from directors and management regarding the conflict of interest policy.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The board reviews the compensation of the executive director annually and does comparisons with similar organizations.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Form 990, part vi, section c, line 19:the foundation's governing documents and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Iowa Able Foundation
EIN
42-1438621
Phone
5152922972
Address
130 S SHELDON AVE STE 201, AMES, IA 50014

Signing Officer

Name
Brian Smith
Title
President
Signed
2020-03-02
Discuss with paid preparer
Yes

Organization Details

Formed
1993
Legal Domicile
Ia
Voting Board Members
9
Independent Board Members
9
Employees
9

Preparer

Firm
Houston & Seeman PC
Address
724 Story St 601, Boone, IA 50036-2871
Preparer
Eric G Seeman
Phone
5154321176
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“Form 990, part xii, lince 2c:the board of directors assumes responsibility for oversight of audit of financial statements and selection of the independent audit firm.”

Financial Statement Notes

Part X : FIN48 Footnote

“The organization does not believe it has any income derived from unrelated business activities. The organization believes that it has appropriate support for any tax positions taken, and as such, does not have any uncertain tax positions that are material to the financial statements.”

Raw XML AppendixShowing 400 of 459 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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IRS990/PayrollTaxesGrp/TotalAmt09614
IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/RegularMonitoringEnfrcInd0true
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IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
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IRS990ScheduleD/RevenueNotReportedAmt050
IRS990ScheduleD/RevenueSubtotalAmt0281434
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT BELIEVE IT HAS ANY INCOME DERIVED FROM UNRELATED BUSINESS ACTIVITIES. THE ORGANIZATION BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990, PART VI, SECTION B, LINE 11:THE 990 WAS REVIEWED AT A MEETING OF THE BOARD OF DIRECTORS FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REQUIRES A SIGNED WRITTEN STATEMENT FROM DIRECTORS AND MANAGEMENT REGARDING THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD REVIEWS THE COMPENSATION OF THE EXECUTIVE DIRECTOR ANNUALLY AND DOES COMPARISONS WITH SIMILAR ORGANIZATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990, PART VI, SECTION C, LINE 19:THE FOUNDATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FORM 990, PART XII, LINCE 2C:THE BOARD OF DIRECTORS ASSUMES RESPONSIBILITY FOR OVERSIGHT OF AUDIT OF FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT AUDIT FIRM.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XII, Line 2: Change of Oversight or Selection Process
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$435,173
Liabilities
$12,665
Net assets
$422,508
Revenue
$281,434
Expenses
$222,277
Net income
$59,157
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.72$0.11$0.61$0.19$0.29$0.10
2023Detailed filing. Detailed filing data is available for this year.$0.72$0.16$0.56$0.22$0.29$0.07
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.02$0.70$0.25$0.28$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.80$0.07$0.73$0.56$0.33$0.24
2020Detailed filing. Detailed filing data is available for this year.$0.50$0.01$0.49$0.32$0.25$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.44$0.01$0.42$0.28$0.22$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.37$0.00$0.36$0.11$0.18$0.07
2017Detailed filing. Detailed filing data is available for this year.$0.44$0.01$0.43$0.13$0.21$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.53$0.01$0.51$0.12$0.20$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.59$0.00$0.59$0.07$0.24$0.17
2014Summary only. Only limited summary data is available for this year.$0.76$0.00$0.76$0.06$0.17$0.11
2013Summary only. Only limited summary data is available for this year.$0.88$0.00$0.88$0.06$0.20$0.14
2012Summary only. Only limited summary data is available for this year.$1.02$0.00$1.02$0.06$0.22$0.16
2011Summary only. Only limited summary data is available for this year.$1.17$0.00$1.17$0.16$0.30$0.14