Iowa West Foundation
- Assets
- $461.6m
- Revenue
- $34.4m
- Investments
- $385.6m
- Employees
- 0
- Location
- Council Bluffs, IA
- Founding
- 01/1994
- Data as of
- 12/2022
- EIN
- 42-1391990
Organization Overview
Iowa West Foundation is located in Council Bluffs, IA. The organization was established in 1994. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa West 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 12/2022, Iowa West Foundation generated $34.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (7.0%) each year. All expenses for the organization totaled $22.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Iowa West Foundation has awarded 434 individual grants totaling $84,698,340. 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
2022
Describe the Organization's Program Activity:
CITY OF COUNCIL BLUFFS STREETSCAPE MAINTENANCE (CASH PAID)
SOUTHWEST IOWA COVID-19 RELIEF FUND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Gronstal Chairman | 1 | $0 | |
Tara Slevin Vice Chairman | 1 | $0 | |
Tammy Pavich Secretary/treasurer | 1 | $0 | |
Ron Dickinson Board Member | 1 | $0 | |
Jason James Board Member | 1 | $0 | |
Rick Killion Board Member | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mercer Investment Consultants | 12/30/22 | $375,000 |
Mulhall's | 12/30/22 | $323,420 |
Sherbondy's | 12/30/22 | $187,963 |
Kpmg Llp | 12/30/22 | $141,031 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $8,906,970 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,859,382 |
| Net Rental Income | $329,380 |
| Net Gain on Sale of Assets | $12,135,516 |
| Capital Gain Net Income | $12,135,516 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $8,159,698 |
| Total Revenue | $34,390,946 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $264,666 |
| Other employee salaries and wages | $783,303 |
| Pension plans, employee benefits | $345,553 |
| Interest | $643,311 |
| Taxes | $0 |
| Depreciation | $2,068,986 |
| Occupancy | $321,814 |
| Travel, conferences, and meetings | $15,743 |
| Printing and publications | $74,752 |
| Other expenses | $677,536 |
| Total operating and administrative expenses | $6,791,695 |
| Contributions, gifts, grants paid | $15,996,201 |
| Total expenses and disbursements | $22,787,896 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,729,499 |
| Savings and temporary cash investments | $5,607,977 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $152,712 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $12,089,083 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $206,900,911 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $55,433,504 |
| Total assets | $461,641,781 |
| Accounts payable and accrued expenses | $1,311,533 |
| Grants payable | $15,498,083 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $18,118,554 |
| Other liabilities | $1,242,866 |
| Total liabilities | $36,171,036 |
Grants Awarded
Over the last fiscal year, Iowa West Foundation has awarded $32,706,443 in support to 219 organizations.
| Grant Recipient | Amount |
|---|---|
712 INITIATIVE PURPOSE: DOWNTOWN REVITALIZATION FUND - WORTH & 100 WB | $1,000,000 |
712 INITIATIVE PURPOSE: 530 WEST BROADWAY | $340,000 |
712 INITIATIVE PURPOSE: OPERATING SUPPORT | $187,500 |
AMERICAN MIDWEST BALLET PURPOSE: MULTI-YEAR FUNDING 2022 | $125,000 |
712 INITIATIVE PURPOSE: OPERATING SUPPORT | $187,500 |
ANAWIM HOUSING PURPOSE: SUPPORTIVE HOUSING PLAN | $12,694 |