﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2023v5.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-11-13T08:50:03-00:00</ReturnTs>
    <TaxPeriodEndDt>2023-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>421468867</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Jacobsen &amp; Company LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>14225 University Ave Ste 206</AddressLine1Txt>
        <CityNm>Waukee</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>50263</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>426075767</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>Iowa Pharmacy Association Foundation</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>IOWA</BusinessNameControlTxt>
      <PhoneNum>5152700713</PhoneNum>
      <USAddress>
        <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
        <CityNm>Urbandale</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>50322</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Kate Gainer</PersonNm>
      <PersonTitleTxt>CEO</PersonTitleTxt>
      <PhoneNum>5152700713</PhoneNum>
      <SignatureDt>2024-11-13</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>David R Jacobsen</PreparerPersonNm>
      <PTIN>P00831781</PTIN>
      <PhoneNum>5152239393</PhoneNum>
      <PreparationDt>2024-11-13</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2024-10-15 13:58:12Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="13">
    <IRS990PF documentId="990PF" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <AddressChangeInd>X</AddressChangeInd>
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2433125</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>97363</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>291</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>291</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>291</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>33852</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>33852</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>33852</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>11822</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>1973455</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>11822</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="990PF:110">46996</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeAdjNetIncmAmt>46996</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>190324</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>45965</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>81139</TotalAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="990PF:112">14047</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>1405</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>5619</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>7023</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="990PF:113">65448</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>13473</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>17325</OtherProfFeesAdjNetIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>34650</OtherProfFeesDsbrsChrtblAmt>
        <DeprecAndDpltnRevAndExpnssAmt referenceDocumentId="990PF:129">413</DeprecAndDpltnRevAndExpnssAmt>
        <DeprecAndDpltnAdjNetIncmAmt>413</DeprecAndDpltnAdjNetIncmAmt>
        <OccupancyRevAndExpnssAmt>4800</OccupancyRevAndExpnssAmt>
        <OccupancyAdjNetIncmAmt>1920</OccupancyAdjNetIncmAmt>
        <OccupancyDsbrsChrtblAmt>2880</OccupancyDsbrsChrtblAmt>
        <TravConfMeetingRevAndExpnssAmt>9863</TravConfMeetingRevAndExpnssAmt>
        <TravConfMeetingDsbrsChrtblAmt>9863</TravConfMeetingDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="990PF:115">54269</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesAdjNetIncmAmt>28903</OtherExpensesAdjNetIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>25366</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>148840</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>14878</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>54180</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>79782</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>33300</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>33300</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>182140</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>14878</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>54180</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>113082</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>8184</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>31087</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>26959</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>80439</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>172069</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>172069</SavAndTempCashInvstEOYFMVAmt>
        <AcctRcvblAmt>24127</AcctRcvblAmt>
        <AcctRcvblEOYAmt>24127</AcctRcvblEOYAmt>
        <AcctRcvblEOYFMVAmt>24127</AcctRcvblEOYFMVAmt>
        <PledgesRcvblAmt>143237</PledgesRcvblAmt>
        <PledgesRcvblBOYAmt>160155</PledgesRcvblBOYAmt>
        <PledgesRcvblEOYAmt>143237</PledgesRcvblEOYAmt>
        <PledgesRcvblEOYFMVAmt>143237</PledgesRcvblEOYFMVAmt>
        <PrepaidExpensesBOYAmt>1843</PrepaidExpensesBOYAmt>
        <CorporateStockBOYAmt>547072</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="990PF:122">841741</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>841741</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>10670</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="990PF:123">441254</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>441254</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>657949</OtherInvestmentsBOYAmt>
        <LandBldgEquipCostOrOtherBssAmt>51139</LandBldgEquipCostOrOtherBssAmt>
        <LandBldgEquipAccumDeprecAmt>50829</LandBldgEquipAccumDeprecAmt>
        <LandBOYAmt>724</LandBOYAmt>
        <LandEOYAmt referenceDocumentId="990PF:132">310</LandEOYAmt>
        <LandEOYFMVAmt>310</LandEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="990PF:117">743391</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="990PF:117">810387</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="990PF:117">810387</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>2202243</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>2433125</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2433125</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>57672</AccountsPayableBOYAmt>
        <AccountsPayableEOYAmt>63732</AccountsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>57672</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>63732</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>631944</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>846156</NoDonorRstrNetAssestsEOYAmt>
        <DonorRstrNetAssetsBOYAmt>1512627</DonorRstrNetAssetsBOYAmt>
        <DonorRstrNetAssetsEOYAmt>1523237</DonorRstrNetAssetsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>2144571</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>2369393</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2202243</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>2433125</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>2144571</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>8184</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="990PF:133">216638</OtherIncreasesAmt>
        <SubtotalAmt>2369393</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>2369393</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>Publicly Traded Securities - various LT</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-01-01</AcquiredDt>
          <SoldDt>2023-12-31</SoldDt>
          <GrossSalesPriceAmt>1973455</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1961633</CostOrOtherBasisAmt>
          <GainOrLossAmt>11822</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>11822</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>11822</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>432</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>432</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>432</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>733</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>733</TotalPaymentsAndCreditsAmt>
        <OriginalReturnTaxPaidAmt>733</OriginalReturnTaxPaidAmt>
        <OverpaymentAmt>301</OverpaymentAmt>
        <AppliedToESTaxAmt>301</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>IA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>true</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>www.iarx.org</WebsiteAddressTxt>
        <IndividualWithBooksNm>Kate Gainer</IndividualWithBooksNm>
        <PhoneNum>5152700713</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
          <CityNm>Urbandale</CityNm>
          <StateAbbreviationCd>IA</StateAbbreviationCd>
          <ZIPCd>50322</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>John Swegle</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Rick Knudson</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Vice President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Kate Gainer</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Secretary/Treasurer</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Gary Milavetz</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Bob Greenwood</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Craig Logemann</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Renae Chesnut</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Michele Evink</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Cheryl Clarke</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Connie Connolly</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Diane Reist</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Chris Clayton</PersonNm>
          <USAddress>
            <AddressLine1Txt>2570 106th St Unit D</AddressLine1Txt>
            <CityNm>Urbandale</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>001.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>See statement - IPA Executive Internship and Student Leadership Conference.</Description1Txt>
        <Expenses1Amt>113082</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>1288159</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>87438</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>943183</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2318780</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2318780</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>34782</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2283998</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>114200</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <Sect4942j3j5FndtnAndFrgnOrgInd>X</Sect4942j3j5FndtnAndFrgnOrgInd>
        <DistributableAsAdjustedAmt>0</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt referenceDocumentId="990PF:151">113082</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>113082</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp></UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp>
        <LessorAdjNetIncmMinInvstRetGrp>
          <CurrentYearAmt>26959</CurrentYearAmt>
          <Year1Amt>25663</Year1Amt>
          <Year2Amt>53460</Year2Amt>
          <Year3Amt>12623</Year3Amt>
          <TotalAmt>118705</TotalAmt>
        </LessorAdjNetIncmMinInvstRetGrp>
        <Pct85LessorAdjIncmOrMinRetGrp>
          <CurrentYearAmt>22915</CurrentYearAmt>
          <Year1Amt>21814</Year1Amt>
          <Year2Amt>45441</Year2Amt>
          <Year3Amt>10730</Year3Amt>
          <TotalAmt>100900</TotalAmt>
        </Pct85LessorAdjIncmOrMinRetGrp>
        <QualifyingDistributionsGrp>
          <CurrentYearAmt>113082</CurrentYearAmt>
          <Year1Amt>109093</Year1Amt>
          <Year2Amt>130040</Year2Amt>
          <Year3Amt>83492</Year3Amt>
          <TotalAmt>435707</TotalAmt>
        </QualifyingDistributionsGrp>
        <QualifyingDistriMadeDrtGrp>
          <CurrentYearAmt>113082</CurrentYearAmt>
          <Year1Amt>109093</Year1Amt>
          <Year2Amt>130040</Year2Amt>
          <Year3Amt>83492</Year3Amt>
          <TotalAmt>435707</TotalAmt>
        </QualifyingDistriMadeDrtGrp>
        <TwoThirdsMinimumInvstRetGrp>
          <CurrentYearAmt>76133</CurrentYearAmt>
          <Year1Amt>75015</Year1Amt>
          <Year2Amt>80769</Year2Amt>
          <Year3Amt>74349</Year3Amt>
          <TotalAmt>306266</TotalAmt>
        </TwoThirdsMinimumInvstRetGrp>
      </PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Iowa</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>College of Pharmacy</AddressLine1Txt>
            <CityNm>Iowa City</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52242</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>n/a</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Outcomes grants</GrantOrContributionPurposeTxt>
          <Amt>14300</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Drake University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>College of Pharmacy</AddressLine1Txt>
            <CityNm>Des Moines</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50311</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>n/a</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarships Fund</GrantOrContributionPurposeTxt>
          <Amt>9500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Iowa</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>College of Pharmacy</AddressLine1Txt>
            <CityNm>Iowa City</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52242</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>n/a</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarships Fund</GrantOrContributionPurposeTxt>
          <Amt>9500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>33300</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>291</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>33852</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>11822</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp>
          <ExclusionCd>01</ExclusionCd>
          <ExclusionAmt>46996</ExclusionAmt>
        </NetIncomeLossFromSpecialEvtGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>92961</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>92961</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>true</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <TransferScheduleDetail>
          <LineNumberTxt>1b(6)</LineNumberTxt>
          <InvolvedAmt>57750</InvolvedAmt>
          <NoncharitableExemptOrgName>
            <BusinessNameLine1Txt>Iowa Pharmacy Association</BusinessNameLine1Txt>
          </NoncharitableExemptOrgName>
          <TransfersTransAndShrArrngmDesc>Management arrangement, employee sharing</TransfersTransAndShrArrngmDesc>
        </TransferScheduleDetail>
        <RelationshipsNonchrtblEOInd>true</RelationshipsNonchrtblEOInd>
        <RelationshipScheduleDetail>
          <OrganizationBusinessName>
            <BusinessNameLine1Txt>Iowa Pharmacy Association</BusinessNameLine1Txt>
          </OrganizationBusinessName>
          <OrganizationTypeDesc>501C6</OrganizationTypeDesc>
          <RelationshipDescriptionTxt>common board members and executive director</RelationshipDescriptionTxt>
        </RelationshipScheduleDetail>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="990B" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>Main Locust Pharmacy</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>2151 Kimberly Rd</AddressLine1Txt>
          <CityNm>Bettendorf</CityNm>
          <StateAbbreviationCd>IA</StateAbbreviationCd>
          <ZIPCd>52722</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>20000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="990PF:112" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <AccountingFeesDetail>
        <CategoryTxt>Accounting</CategoryTxt>
        <Amt>14047</Amt>
        <NetInvestmentIncomeAmt>1405</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>5619</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>7023</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="990PF:129" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <DepreciationPropertyGrp>
        <PropertyDesc>Equipment</PropertyDesc>
        <AcquiredDt>2017-09-01</AcquiredDt>
        <CostOrOtherBasisAmt>2895</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>2171</PriorYearDepreciationAmt>
        <ComputationMethodTxt>S/L</ComputationMethodTxt>
        <LifeRt>0000000007.000000000000</LifeRt>
        <CurrentYearExpenseAmt>413</CurrentYearExpenseAmt>
        <AdjustedNetIncomeAmt>413</AdjustedNetIncomeAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpBondsSchedule documentId="990PF:123" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <InvestmentsCorporateBondsGrp>
        <BondNm>Publicly traded fixed income</BondNm>
        <EOYBookValueAmt>441254</EOYBookValueAmt>
        <EOYFMVAmt>441254</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="990PF:122" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <InvestmentsCorporateStockGrp>
        <StockNm>Publicly traded equities</StockNm>
        <EOYBookValueAmt>841741</EOYBookValueAmt>
        <EOYFMVAmt>841741</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="990PF:131" softwareId="23017659" softwareVersionNum="23.1.0.0"></InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="990PF:132" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <LandEtcGrp>
        <CostOrOtherBasisAmt>51139</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>50829</AccumulatedDepreciationAmt>
        <BookValueAmt>310</BookValueAmt>
        <EOYFMVAmt>310</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherAssetsSchedule documentId="990PF:117" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <OtherAssetsScheduleGrp>
        <Desc>Beneficial Interest - CFGDM</Desc>
        <BOYBookValueAmt>743391</BOYBookValueAmt>
        <EOYBookValueAmt>810387</EOYBookValueAmt>
        <EOYFMVAmt>810387</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="990PF:115" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <OtherExpensesScheduleGrp>
        <Desc>Office operations</Desc>
        <RevenueAndExpensesPerBooksAmt>9456</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>3782</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5674</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Student leadership conference</Desc>
        <RevenueAndExpensesPerBooksAmt>19692</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>19692</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Silent auction</Desc>
        <RevenueAndExpensesPerBooksAmt>6595</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>6595</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Fundraising</Desc>
        <RevenueAndExpensesPerBooksAmt>1515</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>1515</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Golf classic</Desc>
        <RevenueAndExpensesPerBooksAmt>16781</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>16781</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Other</Desc>
        <RevenueAndExpensesPerBooksAmt>230</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>230</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="990PF:110" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <OtherIncomeDetail>
        <Desc>Fundraising events</Desc>
        <RevenueAndExpensesPerBooksAmt>46996</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>46996</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="990PF:133" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <OtherIncreasesDetail>
        <Desc>Unrealized gains on investments</Desc>
        <Amt>112473</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>Unrealized gain - beneficial interest</Desc>
        <Amt>104165</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="990PF:113" softwareId="23017659" softwareVersionNum="23.1.0.0">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Management fees</CategoryTxt>
        <Amt>57750</Amt>
        <NetInvestmentIncomeAmt>5775</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>17325</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>34650</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Investment fees</CategoryTxt>
        <Amt>7698</Amt>
        <NetInvestmentIncomeAmt>7698</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
  </ReturnData>
</Return>