Civic Intelligence

Iowa Able Foundation

990 • Fiscal year 2022 • EIN 42-1438621

Oct 01, 2021 to Sep 30, 2022 • Filed on Aug 15, 2023

Organization ProfileWWW.ABLEUPIOWA.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

51st percentile

0.02x

Higher debt load relative to assets than 51% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

62nd percentile

0.06x

Higher debt load relative to revenue than 62% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

20th percentile

-13%

Higher net margin than 20% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$61,800

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 25.1% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

22nd percentile

-9.9%

Faster asset growth than 22% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

6th percentile

-56%

Faster revenue growth than 6% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$718,508

Down $79,029 (-9.9%) from 2021

Net Assets

Down

$703,400

Down $22,037 (-3.0%) from 2021

Liabilities

Down

$15,108

Down $56,992 (-79%) from 2021

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin20th percentile

Revenue

Down

$246,307

Down $315,266 (-56%) from 2021

Expenses

Down

$279,231

Down $46,001 (-14%) from 2021

Net Income

Down

-$32,924

Down $269,265 (-114%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth22nd 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

2022

Assets$718,508
Liabilities$15,108
Net Assets$703,400
Open 2022 Filing

Operations Trend

Revenue Growth6th 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

2022

Revenue$246,307
Expenses$279,231
Net Income-$32,924
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Aug 15, 2023
Return Version
2021v4.1
Gross Receipts
$246,307
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
Other Notes and Loans Receivable, Net$255,932$352,276▲ $96,344
Savings and Temporary Cash Investments$498,555$312,055▼ $186,500
Cash and Non-Interest-Bearing Accounts$10,244$33,874▲ $23,630
Accounts Receivable$13,875$0▼ $13,875
Investments in Publicly Traded Securities$12,621$11,474▼ $1,147
Prepaid Expenses and Deferred Charges$6,310$8,829▲ $2,519
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$797,537$718,508▼ $79,029
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$5,063$10,108▲ $5,045
Deferred Revenue$67,037$5,000▼ $62,037
Total Liabilities$72,100$15,108▼ $56,992
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$388,167$430,263▲ $42,096
Net Assets With Donor Restrictions$337,270$273,137▼ $64,133
Total Net Assets Fund Balance$725,437$703,400▼ $22,037
Total Liabilities and Net Assets / Fund Balance$797,537$718,508▼ $79,029
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Anna MagnussonExecutive DirectorFT$61,800$61,800

Board Members and Trustees

NameTitle
Kyle GuldenpfennigPresident
Nicole LarsonVice President
Brian SmithDirector
Gina DavidDirector
Jacki FoleyDirector
John MccalleyDirector
John MikelsonDirector
Lekeisha VeasleyDirector
Mark EdelmanDirector
Shelley GarringtonDirector
Vienna HoangDirector
Virginia StadlerTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$203,185
Program Service Revenue
$5,218
Investment Income
$-1,215
Other Revenue
$39,119
All Other Contributions
$203,185
Change in Net Assets
$-32,924
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$168,275
Other Expenses$110,956
Total Fundraising Expense$11,184
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$90,789$1,104-$91,893
Current Officers, Directors, Trustees, and Key Employees$46,350$15,450-$61,800
Fees for Services Other$16,177$25,624$8,958$50,759
Payroll Taxes$6,178$2,059-$8,237
Advertising$5,509-$2,226$7,735
Occupancy$7,187--$7,187
Other Employee Benefits$4,759$1,586-$6,345
All Other Expenses$4,845--$4,845
Office Expenses$4,035--$4,035
Other Expenses$3,295--$3,295
Insurance$2,940--$2,940
Total Functional Expenses$222,224$45,823$11,184$279,231
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
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
Yes
Other officer compensation reviewed
Yes
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 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
Jeffrey Williams
Title
Interim Director
Signed
2023-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brian Smith
Formed
1993
Legal Domicile
Ia
Voting Board Members
12
Independent Board Members
12
Employees
5

Preparer

Firm
Houston & Seeman PC
Address
724 Story St 601, Boone, IA 50036
Preparer
Eric G Seeman
Phone
5154321176
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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/ExplanationTxt1FORM 990, PART VI, SECTION C, LINE 19:THE FOUNDATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$718,508
Liabilities
$15,108
Net assets
$703,400
Revenue
$246,307
Expenses
$279,231
Net income
-$32,924
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