Iowa-Nebraska Farm Equipment Association Inc
- Assets
- $8.6m
- Revenue
- $3.1m
- Investments
- $900.2k
- Employees
- 0
- Location
- Johnston, IA
- Founding
- 02/1960
- Data as of
- 09/2022
- EIN
- 42-0332550
Organization Overview
Iowa-Nebraska Farm Equipment Association Inc is located in Johnston, IA. The organization was established in 1960. According to its NTEE Classification (K28) the organization is classified as: Farm Bureaus & Granges, 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. Iowa-Nebraska Farm Equipment Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2022, Iowa-Nebraska Farm Equipment Association Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $2.8m during the year ending 09/2022. While expenses have increased by 3.7% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION IS A NONPROFIT CORPORATION ENGAGED IN THE JOINING, THROUGH MEMBERSHIP, OF VARIOUS FARM, INDUSTRIAL AND OUTDOOR POWER EQUIPMENT DEALERS THROUGHOUT IOWA AND NEBRASKA TO PROMOTE AND DISSEMINATE KNOWLEDGE AND INFORMATION CONCERNING FARM IMPLEMENT AND EQUIPMENT DEALERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONVENTION AND SHOW HELD FOR FARM EQUIPMENT DEALER MEMBERS AND THEIR ASSOCIATES. SUPPLIERS PROVIDE DEALERS/MEMBERS WITH INFORMATION ON NEW DEVELOPMENTS AND PRODUCTS IN THE FARM IMPLEMENT, CONSTRUCTION AND INDUSTRIAL EQUIPMENT INDUSTRY.
ANNUAL DEALER MEETINGS FOR FARM EQUIPMENT DEALER MEMBERS AND THEIR ASSOCIATES. THE ORGANIZATION EDUCATES PARTICIPANTS ON NEW DEVELOPMENTS AND PRODUCTS IN THE FARM, CONSTRUCTION, AND INDUSTRIAL EQUIPMENT INDUSTRY.
ASSOCIATION HOLDS EDUCATIONAL OPPORTUNITIES WHERE MEMBERS/DEALERS CAN LEARN ABOUT NEW DEVELOPMENTS AND PRODUCTS IN THE FARM IMPLEMENT, CONSTRUCTION AND INDUSTRIAL EQUIPMENT INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Beach Past Chairma | OfficerTrustee | 0.46 | $0 |
Tim Kayton Chairman | OfficerTrustee | 0.46 | $0 |
Scott Raber Left June 2022 Vice Chairma | OfficerTrustee | 0.46 | $0 |
Mark Hennessey CEO | Officer | 40 | $0 |
Jay Funke Director | Trustee | 0.46 | $0 |
Kevin Clark Director | Trustee | 0.46 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lancaster Event Center Conference Svc. | 9/29/20 | $137,078 |
Iowa Events Center Conference Svc. | 9/29/20 | $136,648 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,904,662 |
| Investment income | $192,707 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,629 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,095,740 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $78,372 |
| 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 | $11,265 |
| Fees for services: Accounting | $26,070 |
| Fees for services: Lobbying | $92,551 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,344 |
| Fees for services: Other | $12,134 |
| Advertising and promotion | $28,345 |
| Office expenses | $31,151 |
| Information technology | $33,484 |
| Royalties | $0 |
| Occupancy | $68,482 |
| Travel | $44,983 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $757,818 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $76,865 |
| Insurance | $0 |
| All other expenses | $31,144 |
| Total functional expenses | $2,796,443 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $5,304,030 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $212,182 |
| 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 | $0 |
| Net Land, buildings, and equipment | $979,978 |
| Investments—publicly traded securities | $1,190,948 |
| Investments—other securities | $900,166 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $45,724 |
| Total assets | $8,633,028 |
| Accounts payable and accrued expenses | $29,668 |
| Grants payable | $0 |
| Deferred revenue | $1,665,979 |
| 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 | $937,380 |
| Total liabilities | $2,633,027 |
| Net assets without donor restrictions | $6,000,001 |
| Net assets with donor restrictions | $0 |
| 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 | $8,633,028 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
German Farmers Mutual Assessment Insurance Assoc Of Hall County Inc Cairo, NE | $1,959,468 | $2,974,512 |
Iowa-Nebraska Farm Equipment Association Inc Johnston, IA | $8,633,028 | $3,095,740 |
Buffalo County Agricultural Association Kearney, NE | $14,912,793 | $2,842,209 |
South Dakota Farm Bureau Federation Huron, SD | $2,922,262 | $2,176,457 |
Dekalb County Farm Bureau Sycamore, IL | $2,798,652 | $1,236,356 |
National Assn Of Farm Broadcasters Platte City, MO | $5,376,583 | $1,403,716 |
Fox Valley Cooperative Farm Management Association Appleton, WI | $1,517,902 | $1,296,929 |
Mississippi Valley Farm Bus Assn Fairfield, IA | $0 | $944,274 |
Farm Equipment Manufacturers Association Saint Louis, MO | $4,847,175 | $923,223 |
Central Iowa Farm Business Assn Jefferson, IA | $566,912 | $990,824 |
Fayette County Agricultural Society West Union, IA | $1,416,189 | $1,190,275 |
Morgan County Agricultural Fair Association Jacksonville, IL | $905,083 | $1,324,759 |