Civic Intelligence

Iowa Able Foundation

990 • Fiscal year 2020 • EIN 42-1438621

Oct 01, 2019 to Sep 30, 2020 • Filed on May 12, 2021

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

65th percentile

0.02x

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

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

68th percentile

0.03x

Higher debt load relative to revenue than 68% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

70th percentile

21%

Higher net margin than 70% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

94th percentile

$60,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 19.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

62nd percentile

15%

Faster asset growth than 62% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

74th percentile

12%

Faster revenue growth than 74% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets65th percentile

Assets

Up

$498,901

Up $63,728 (+15%) from 2019

Net Assets

Up

$489,096

Up $66,588 (+16%) from 2019

Liabilities

Down

$9,805

Down $2,860 (-23%) from 2019

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin70th percentile

Revenue

Up

$315,470

Up $34,036 (+12%) from 2019

Expenses

Up

$249,181

Up $26,904 (+12%) from 2019

Net Income

Up

$66,289

Up $7,132 (+12%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth62nd 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

2020

Assets$498,901
Liabilities$9,805
Net Assets$489,096
Open 2020 Filing

Operations Trend

Revenue Growth74th 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

2020

Revenue$315,470
Expenses$249,181
Net Income$66,289
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2019 to Sep 30, 2020
Signed
May 12, 2021
Return Version
2019v5.0
Gross Receipts
$315,470
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$201,553$216,867▲ $15,314
Other Notes and Loans Receivable, Net$129,696$151,923▲ $22,227
Cash and Non-Interest-Bearing Accounts$78,136$99,956▲ $21,820
Prepaid Expenses and Deferred Charges$2,522$13,313▲ $10,791
Investments in Publicly Traded Securities$10,486$10,549▲ $63
Accounts Receivable$12,780$6,293▼ $6,487
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$435,173$498,901▲ $63,728
Other Assets Total-$0-
Liabilities
Deferred Revenue$8,000$5,000▼ $3,000
Accounts Payable and Accrued Expenses$4,665$4,805▲ $140
Total Liabilities$12,665$9,805▼ $2,860
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$412,022$373,608▼ $38,414
Net Assets With Donor Restrictions$10,486$115,488▲ $105,002
Total Net Assets Fund Balance$422,508$489,096▲ $66,588
Total Liabilities and Net Assets / Fund Balance$435,173$498,901▲ $63,728

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$10,486-▲ $563-$10,549
2018-$10,500▲ $111-$10,486
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Anna MagnussonExecutive DirectorFT$60,000$60,000

Board Members and Trustees

NameTitle
Brian SmithPresident
Nicole LarsonVice President
Jacki FoleyDirector
John MccalleyDirector
John MikelsonDirector
Lisa BakerDirector
Rik ShannonDirector
Tracy KenigerDirector
Vienna HoangDirector
Kyle GuldenpfennigSecretary
George KlotzbachTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$271,820
Program Service Revenue
$14,370
Investment Income
$2,191
Other Revenue
$27,089
All Other Contributions
$271,820
Change in Net Assets
$66,289

Audited Revenue Reconciliation

Revenue per Audited Statements
$315,470
Revenue Not Reported on Form 990
$299
Total Revenue per Audited Statements
$315,769
Total Revenue per Form 990
$315,470
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$158,722
Other Expenses$90,459
Total Fundraising Expense$7,410
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$86,175--$86,175
Current Officers, Directors, Trustees, and Key Employees$45,000$15,000-$60,000
Fees for Services Other$7,000$11,143-$18,143
All Other Expenses$9,588$1,337-$10,925
Advertising$6,548--$6,548
Occupancy$6,519--$6,519
Payroll Taxes$4,750$1,583-$6,333
Other Employee Benefits$4,660$1,554-$6,214
Office Expenses$5,433--$5,433
Other Expenses$3,144-$7,410$3,144
Insurance$2,749--$2,749
Total Functional Expenses$211,154$30,617$7,410$249,181

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$249,181
Total Expenses per Audited Statements$249,181
Total Expenses per Form 990$249,181
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
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
Audit committee
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
No
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 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
2021-05-12
Discuss with paid preparer
Yes

Organization Details

Formed
1993
Legal Domicile
Ia
Voting Board Members
11
Independent Board Members
11
Employees
6

Preparer

Firm
Houston & Seeman PC
Address
724 Story St 601, Boone, IA 50036
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 481 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/OtherEmployeeBenefitsGrp/TotalAmt06214
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IRS990/OtherExpensesGrp/Desc2CONTRACT LABOR
IRS990/OtherExpensesGrp/Desc3BANK CHARGES
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IRS990/OtherExpensesGrp/ProgramServicesAmt15500
IRS990/OtherExpensesGrp/ProgramServicesAmt23144
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IRS990/OtherExpensesGrp/TotalAmt17410
IRS990/OtherExpensesGrp/TotalAmt25500
IRS990/OtherExpensesGrp/TotalAmt33144
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IRS990/OtherSalariesAndWagesGrp/TotalAmt086175
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0129696
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01583
IRS990/PayrollTaxesGrp/ProgramServicesAmt04750
IRS990/PayrollTaxesGrp/TotalAmt06333
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt013313
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/BusinessCd1522291
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IRS990/ProgramServiceRevenueGrp/Desc1LOAN INTEREST INCOME
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt114121
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt02766
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IRS990/PYOtherExpensesAmt089446
IRS990/PYOtherRevenueAmt028318
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IRS990/PYRevenuesLessExpensesAmt059157
IRS990/PYSalariesCompEmpBnftPaidAmt0132831
IRS990/PYTotalExpensesAmt0222277
IRS990/PYTotalRevenueAmt0281434
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt066289
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt014370
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0201553
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0216867
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt080630
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt098650
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt082204
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0768810
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02191
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02766
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01842
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01671
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt01688
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt010158
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt027089
IRS990ScheduleA/OtherIncome170Grp/TotalAmt027089
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.95380
IRS990ScheduleA/PublicSupportPY170Pct00.98510
IRS990ScheduleA/PublicSupportTotal170Amt0768810
IRS990ScheduleA/SubstantialContributorsTotAmt00
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IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0768810
IRS990ScheduleA/TotalSupportAmt0806057
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0563
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0111
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IRS990ScheduleD/RevenueNotReportedAmt0299
IRS990ScheduleD/RevenueSubtotalAmt0315470
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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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$498,901
Liabilities
$9,805
Net assets
$489,096
Revenue
$315,470
Expenses
$249,181
Net income
$66,289
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