Iaa Foundation
- Assets
- $9.2m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomington, IL
- Founding
- 10/1987
- Data as of
- 12/2023
- EIN
- 37-1211315
Organization Overview
Iaa Foundation is located in Bloomington, IL. The organization was established in 1987. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iaa Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Iaa Foundation generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $1.0m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Iaa Foundation has awarded 708 individual grants totaling $6,319,003. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FUND EDUCATION, RESEARCH, AND CHARITABLE ACTIVITIES THAT BENEFIT ILLINOIS FARM FAMILIES AND AGRICULTURE.
Describe the Organization's Program Activity:
THE ORGANIZATION PROVIDES FUNDS TO HELP EDUCATE ELEMENTARY SCHOOL STUDENTS AND TEACHERS ABOUT THE IMPORTANCE OF AGRICULTURE.
THE ORGANIZATION PROVIDES SCHOLARSHIPS TO STUDENTS ATTENDING A COLLEGE, UNIVERSITY OR VOCATIONAL SCHOOL AND WHO ARE SEEKING EDUCATION IN AN AGRICULTURAL RELATED FIELD.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Vance Ass't Secretary | Officer | 2 | $0 |
Alan Dodds Ass't Treasurer | Officer | 2 | $0 |
Richard Guebert Jr President | OfficerTrustee | 0.25 | $0 |
Geneva Aberle Ass't Treasurer | Officer | 2 | $0 |
Garret Thalgott Ass't Secretary | Officer | 2 | $0 |
Susan Moore Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $109,415 |
| Related organizations | $121,500 |
| Government grants | $26,871 |
| All other contributions, gifts, grants, and similar amounts not included above | $705,832 |
| Noncash contributions included in lines 1a–1f | $34,757 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $963,618 |
| Total Program Service Revenue | $0 |
| Investment income | $191,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $41,650 |
| Net Gain/Loss on Asset Sales | -$14,622 |
| Net Income from Fundraising Events | $2,650 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $51,828 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,236,892 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $632,180 |
| Grants and other assistance to domestic individuals. | $384,244 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,621 |
| Insurance | $2,250 |
| All other expenses | $0 |
| Total functional expenses | $1,045,595 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $99,698 |
| Savings and temporary cash investments | $1,112,793 |
| Pledges and grants receivable | $259,500 |
| Accounts receivable, net | $39,922 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,722 |
| Net Land, buildings, and equipment | $4,223,067 |
| Investments—publicly traded securities | $3,443,550 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $358 |
| Total assets | $9,180,610 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,307 |
| Total liabilities | $12,307 |
| Net assets without donor restrictions | $4,998,120 |
| Net assets with donor restrictions | $4,170,183 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $9,180,610 |
Grants Awarded
Over the last fiscal year, Iaa Foundation has awarded $632,180 in support to 70 organizations.
| Grant Recipient | Amount |
|---|---|
ADAMS CFB FOUNDATION PURPOSE: Ag Literacy | $9,105 |
AGRICULTURAL EDU PARTNERSHIP PURPOSE: Ag Literacy | $24,315 |
BOND COUNTY SWCD PURPOSE: Ag Literacy | $8,505 |
BUREAU CFB PURPOSE: Ag Literacy | $8,305 |
CASS-MORGAN CFB PURPOSE: Ag Literacy | $8,505 |
CHAMPAIGN CFB FOUNDATION PURPOSE: Ag Literacy | $8,905 |