Civic Intelligence

Blanche Johnson Trust Midwestone Bank Trustee

990 • Fiscal year 2019 • EIN 42-6613277

Jan 01, 2019 to Dec 31, 2019 • Filed on May 14, 2020

Organization ProfileN/A
PO Box 1700Iowa City, IA 52244-1700

(319) 248-5146

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Higher debt load relative to assets than 17% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

20th percentile

0.00x

Higher debt load relative to revenue than 20% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

64th percentile

9.6%

Higher net margin than 64% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

41st percentile

$33,471

Higher top officer pay than 41% of similar nonprofits.

Top officer pay equals 13.1% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

43rd percentile

1.0%

Faster asset growth than 43% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

77th percentile

24%

Faster revenue growth than 77% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$2,431,632

Up $24,442 (+1.0%) from 2018

Net Assets

Up

$2,430,381

Up $24,441 (+1.0%) from 2018

Liabilities

Up

$1,251

Up $1 (+0.1%) from 2018

Revenue And Expenses
Liabilities / Revenue20th percentileNet Margin64th percentile

Revenue

Up

$255,101

Up $48,589 (+24%) from 2018

Expenses

Up

$230,660

Up $13,267 (+6.1%) from 2018

Net Income

Up

$24,441

Up $35,322 (+325%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$3.0M$2.0M$1.0M$0Assets 2010: $2,445,747Liabilities 2010: $0Net Assets 2010: $2,445,7472010Assets 2012: $2,472,061Liabilities 2012: $0Net Assets 2012: $2,472,0612012Assets 2013: $2,465,696Liabilities 2013: $0Net Assets 2013: $2,465,6962013Assets 2014: $2,509,006Liabilities 2014: $1,750Net Assets 2014: $2,507,2562014Assets 2015: $2,490,460Liabilities 2015: $1,247Net Assets 2015: $2,489,2132015Assets 2016: $2,429,458Liabilities 2016: $1,249Net Assets 2016: $2,428,2092016Assets 2017: $2,418,071Liabilities 2017: $1,250Net Assets 2017: $2,416,8212017Assets 2018: $2,407,190Liabilities 2018: $1,250Net Assets 2018: $2,405,9402018Assets 2019: $2,431,632Liabilities 2019: $1,251Net Assets 2019: $2,430,3812019Assets 2020: $2,378,185Liabilities 2020: $1,252Net Assets 2020: $2,376,9332020Assets 2021: $2,356,095Liabilities 2021: $1,252Net Assets 2021: $2,354,8432021Assets 2022: $2,319,618Liabilities 2022: $1,251Net Assets 2022: $2,318,3672022Assets 2023: $2,287,471Liabilities 2023: $1,252Net Assets 2023: $2,286,2192023Assets 2024: $2,262,475Liabilities 2024: $1,253Net Assets 2024: $2,261,2222024

Highlighted filing

2019

Assets$2,431,632
Liabilities$1,251
Net Assets$2,430,381
Open 2019 Filing

Operations Trend

Revenue Growth77th percentile

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

$300K$200K$100K$0-$100KExpenses 2010: $231,1722010Revenue 2012: $205,233Expenses 2012: $181,642Net Income 2012: $23,5912012Revenue 2013: $210,650Expenses 2013: $217,015Net Income 2013: -$6,3652013Revenue 2014: $260,386Expenses 2014: $217,226Net Income 2014: $43,1602014Revenue 2015: $229,660Expenses 2015: $247,703Net Income 2015: -$18,0432015Revenue 2016: $185,418Expenses 2016: $246,422Net Income 2016: -$61,0042016Revenue 2017: $228,355Expenses 2017: $239,743Net Income 2017: -$11,3882017Revenue 2018: $206,512Expenses 2018: $217,393Net Income 2018: -$10,8812018Revenue 2019: $255,101Expenses 2019: $230,660Net Income 2019: $24,4412019Revenue 2020: $212,156Expenses 2020: $265,604Net Income 2020: -$53,4482020Revenue 2021: $232,977Expenses 2021: $255,067Net Income 2021: -$22,0902021Revenue 2022: $197,049Expenses 2022: $233,525Net Income 2022: -$36,4762022Revenue 2023: $220,709Expenses 2023: $252,857Net Income 2023: -$32,1482023Revenue 2024: $256,597Expenses 2024: $281,594Net Income 2024: -$24,9972024

Highlighted filing

2019

Revenue$255,101
Expenses$230,660
Net Income$24,441
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 14, 2020
Return Version
2019v5.0
Gross Receipts
$703,602
Mission and Program Overview

Mission

Support william penn university.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$2,405,940$2,430,381▲ $24,441
Land, Buildings, and Equipment, Net$1,381,182$1,372,430▼ $8,752
Investments in Publicly Traded Securities$761,165$766,080▲ $4,915
Savings and Temporary Cash Investments$264,843$293,122▲ $28,279
Total Assets$2,407,190$2,431,632▲ $24,442
Liabilities
Accounts Payable and Accrued Expenses$1,250$1,251▲ $1
Total Liabilities$1,250$1,251▲ $1
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,405,940$2,430,381▲ $24,441
Total Liabilities and Net Assets / Fund Balance$2,407,190$2,431,632▲ $24,442

Asset Categories

AssetBook ValueDepreciationBasis
Land$1,290,418-$1,290,418
Buildings$66,982$141,707$208,689
Leasehold Improvements$15,030$50,557$65,587
Compensation and Service Providers
Top Officer Pay41st percentile

Employees

NameTitleBaseTotal
-Trustee$33,471$33,471
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$62,467
Other Revenue
$192,634
Change in Net Assets
$24,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$214,709
Other Expenses$9,850
Salaries, Compensation, and Employee Benefits$6,101
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$214,709--$214,709
Current Officers, Directors, Trustees, and Key Employees-$6,101-$6,101
Fees for Services Management-$3,544-$3,544
Fees for Service Investment Mgmnt Fees-$2,034-$2,034
Fees for Services Legal-$1,827-$1,827
Fees for Services Accounting-$1,785-$1,785
Advertising-$660-$660
Total Functional Expenses$214,709$15,951$0$230,660
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
William Penn UniversityOskaloosa, IA501c3Annual Distribution$214,709
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Page 6, Part VI, Line 11B

“Draft of from 990 is reviewed by sandra morrow, vice president of trust services for midwestone bank, the institutional trustee. A copy of form 990 will also be provided to the beneficiary this organization supports.”

Form 990, Page 6, Part VI, Line 12C

“Midwestone bank, the institutional trustee, has a conflict of interest policy in place for all entities they manage. All conflicts are monitored through their policies and procedures.”

Form 990, Page 6, Part VI, Line 15A

“Fees for the institutional trustee are computed per fixed schedule applied to all entities they manage. These fees are also approved by the iowa district court and the supported organizations before payment.”

Form 990, Page 6, Part VI, Line 19

“The institutional trustees policies and procedures would be available upon request. The governing documents are filed with the iowa district court on an annual basis. These are public records.”

Filing and Contact Details

Filer

Filer Name
Blanche Johnson Trust
EIN
42-6613277
Phone
3192485146
Address
PO BOX 1700, IOWA CITY, IA 52244-1700

Signing Officer

Name
Midwestone Bank
Title
Trustee
Phone
3192485146
Signed
2020-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
Ia
Voting Board Members
1
Independent Board Members
0
Employees
0

Preparer

Firm
Tdt Cpas and Advisors Pc
Address
317 HIGH AVE E, OSKALOOSA, IA 52577-2823
Preparer
Darcee M Ayers CPA
Phone
6416722523
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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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0SUPPORTED ORGANIZATION IS PROVIDED QUARTERLY FINANCIAL STATEMENTS FOLLOWED BY PERIODIC COMMUNICATION REGARDING TRUST ACTIVITY. ANNUALLY THE SUPPORTED ORGANIZAITON MEETS WITH THE TRUSTEE OF THE SUPPORTING ORGANIZATION TO REVIEW FARM MARKET TRENDS AND HOW THEY ARE IMPACTING RENTAL INCOME RATES. RENTAL INCOME IS THE MAJORITY OF THE INCOME GENERATED BY THE SUPPORTING ORGANIZATION. THE SUPPORTED ORGANIZATION'S AUDITORS ALSO CONTACT THE SUPPORTING ORGANIZATION TO TEST INVESTMENTS AND CONTROLS EXISTING BETWEEN THE TWO ORGANIZATIONS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE SUPPORTED ORGANIZATION'S BOARD HAS THE POWER TO INFLUENCE INVESTMENT MIX INCLUDING THE INVESTMENT PORTFOLIO WHICH IS CURRENTLY 80% FIXED INCOME AND 20% EQUITY PER THE 2018 REPORT PROVIDED TO THE SUPPORTED ORGANIZATION. RENTAL REAL ESTATE LEASES ARE ALSO PROVIDED AND APPROVED BY THE SUPPORTED ORGANIZATION. THE SUPPORTED ORGANIZATION RELYS ON THE DISTRIBUTIONS FROM THE TRUST TO FUND SCHOLARSHIPS WHICH ARE SPECIFICALLY PROVIDED FOR IN THE SUPPORTING ORGANIZATION'S BUDGET.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE OTHER NON-EXEMPT USE ASSETS IS FARMLAND. PER THE TERMS OF THE TRUST AGREEMENT, THE FARMLAND MAY NOT EVER BE SOLD. CONSEQUENTLY, AN APPRAISAL OF THE FARMLAND BASED ON COMPRABLE SALES SEEMS OVERSTATED. MARKET VALUE HAS BEEN CALCULATED BASED ON PRESENT VALUE OF NET CASH FLOW FROM THE FARMING ACTIVITY. THE CALCULATION RESULTED IN A 2019 DISCOUNT OF 997,300.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt3DISTRIBUTIONS TO COLLEGE NAMED IN THE ORGANIZATIONAL DOCUMENTS WHO RELY ON THE CONTRIBUTION TO FUND THEIR SCHOLARSHIP PROGRAM. THE SCHOLARSHIP AND ESTIMATED REVENUES ARE INCLUDED IN THE COLLEGE ANNUAL BUDGET.
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0TRUST DOCUMENT REQUIRES NET INCOME BE DISTRIBUTED TO THIS CHARITY FOR SCHOLARSHIP OR OTHER PURPOSES. TRUSTEE DOES MEET WITH CHARITY PERIODICALLY TO REVIEW THE TRUST ADMINISTRATION WITH THE SUPPORTED ORGANIZATION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DRAFT OF FROM 990 IS REVIEWED BY SANDRA MORROW, VICE PRESIDENT OF TRUST SERVICES FOR MIDWESTONE BANK, THE INSTITUTIONAL TRUSTEE. A COPY OF FORM 990 WILL ALSO BE PROVIDED TO THE BENEFICIARY THIS ORGANIZATION SUPPORTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MIDWESTONE BANK, THE INSTITUTIONAL TRUSTEE, HAS A CONFLICT OF INTEREST POLICY IN PLACE FOR ALL ENTITIES THEY MANAGE. ALL CONFLICTS ARE MONITORED THROUGH THEIR POLICIES AND PROCEDURES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FEES FOR THE INSTITUTIONAL TRUSTEE ARE COMPUTED PER FIXED SCHEDULE APPLIED TO ALL ENTITIES THEY MANAGE. THESE FEES ARE ALSO APPROVED BY THE IOWA DISTRICT COURT AND THE SUPPORTED ORGANIZATIONS BEFORE PAYMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE INSTITUTIONAL TRUSTEES POLICIES AND PROCEDURES WOULD BE AVAILABLE UPON REQUEST. THE GOVERNING DOCUMENTS ARE FILED WITH THE IOWA DISTRICT COURT ON AN ANNUAL BASIS. THESE ARE PUBLIC RECORDS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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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
$2,431,632
Liabilities
$1,251
Net assets
$2,430,381
Revenue
$255,101
Expenses
$230,660
Net income
$24,441
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.26$0.00$2.26$0.26$0.28$0.02
2023Detailed filing. Detailed filing data is available for this year.$2.29$0.00$2.29$0.22$0.25$0.03
2022Detailed filing. Detailed filing data is available for this year.$2.32$0.00$2.32$0.20$0.23$0.04
2021Detailed filing. Detailed filing data is available for this year.$2.36$0.00$2.35$0.23$0.26$0.02
2020Detailed filing. Detailed filing data is available for this year.$2.38$0.00$2.38$0.21$0.27$0.05
2019Detailed filing. Detailed filing data is available for this year.$2.43$0.00$2.43$0.26$0.23$0.02
2018Detailed filing. Detailed filing data is available for this year.$2.41$0.00$2.41$0.21$0.22$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.42$0.00$2.42$0.23$0.24$0.01
2016Detailed filing. Detailed filing data is available for this year.$2.43$0.00$2.43$0.19$0.25$0.06
2015Detailed filing. Detailed filing data is available for this year.$2.49$0.00$2.49$0.23$0.25$0.02
2014Detailed filing. Detailed filing data is available for this year.$2.51$0.00$2.51$0.26$0.22$0.04
2013Detailed filing. Detailed filing data is available for this year.$2.47$0.00$2.47$0.21$0.22$0.01
2012Summary only. Only limited summary data is available for this year.$2.47$0.00$2.47$0.21$0.18$0.02
2010Detailed filing. Detailed filing data is available for this year.$2.45$0.00$2.45$0.23