2025-09-03T13:24:39-05:00 2025-05-31 421186197 GARDINER COMPANY PC 10555 NEW YORK AVENUE SUITE 200 DES MOINES IA 50322 990 2024-06-01 421305677 IOWA COOPERATIVE FOUNDATION IOWA 5152922667 2515 UNIVERSITY BLVD AMES IA 50010 DR BOBBY MARTENS STAFF LIAISON 5152922667 2025-09-03 1 1 ROBERT BELL CPA P02410354 5152701446 2024 2025-03-06 01:10:19Z DR BOBBY MARTENS 2515 UNIVERSITY BLVD AMES IA 50010 55222 0 X N/A X 1987 IA THE IOWA COOPERATIVE FOUNDATION IS ORGANIZED FOR CHARITABLE, SCIENTIFIC AND EDUCATION PURPOSES. THE FOUNDATION IS ORGANIZED, AND WILL BE OPERATED BY, EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE CHARITABLE PURPOSE OF THE IOWA INSTITUTE FOR COOPERATIVES, AN IOWA NONPROFIT CORPORATION. 7 7 0 0 0 0 35874 31300 0 0 21972 23922 1518 0 59364 55222 31000 72500 0 0 0 0 0 0 0 1518 0 32518 72500 26846 -17278 524598 472724 0 40000 524598 432724 X THE IOWA COOPERATIVE FOUNDATION IS ORGANIZED FOR CHARITABLE, SCIENTIFIC AND EDUCATION PURPOSES. THE FOUNDATION IS ORGANIZED, AND WILL BE OPERATED BY, EXCLUSIVELY FOR THE BENEFIT OF, TO PERFORM THE FUNCTIONS OF, OR TO CARRY OUT THE CHARITABLE PURPOSE OF THE IOWA INSTITUTE FOR COOPERATIVES, AN IOWA NONPROFIT CORPORATION. 0 0 72500 72500 PRIORITY FOR WORK CONDUCTED BY OR SUPPORTED BY THE FOUNDATION SHALL BE GIVEN TO RURAL COOPERATIVE DEVELOPMENT WITH EMPHASIS ON NEW OR YOUNG COMPANIES. ACTIVITIES MAY INCLUDE RESEARCH AND EDUCATION ABOUT RURAL NEEDS, ASSISTANCE IN CREATING COOPERATIVES WHEN APPROPRIATE AND TRAINING PROGRAMS FOR MANAGEMENT AND DIRECTORS. PRIORTY WILL ALSO BE GIVEN TO PROVIDNG YOUTH SCHOLARSHIPS TO YOUTHS LIVING IN RURAL COMMUNITIES.DONATED SERVICES, VALUED AT $1,665, WERE PROVIDED BY THE IOWA INSTITUTE FOR COOPERATIVES DURING THE 2024 TAX YEAR. 72500 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 1 1 0 0 0 X DR BOBBY MARTENS 5152922667 2515 UNIVERSITY BLVD AMES IA 50010 TAYLOR JANS PRESIDENT 0.20 0.60 X X 0 0 0 JASON BERKLAND VICE PRESIDENT 0.20 0.60 X X 0 0 0 WIL MANWEILER SECRETARY 0.20 0.60 X X 0 0 0 BRIAN THILGES DIRECTOR 0.20 0.60 X 0 0 0 BRIAN LARSEN DIRECTOR 0.20 0.60 X 0 1800 0 COZY NELSEN DIRECTOR 0.20 0.60 X 0 0 0 GREG HANSHAW DIRECTOR 0.20 0.60 X 0 0 0 DR BOBBY MARTENS STAFF LIAISON (CURRENT) 0.20 40.00 X 0 0 0 DAVE HOLM STAFF LIAISON (FORMER) 0.20 40.00 X 0 275316 30997 0 277116 30997 0 1 1 0 0 16300 15000 31300 23922 23922 55222 0 0 23922 42500 42500 30000 30000 72500 72500 0 0 55653 54682 468945 418042 524598 472724 10000 30000 0 40000 X 524598 432724 524598 432724 524598 472724 X -17278 -34596 -40000 X X 0 1 X 1 0 X X 1 IOWA INSTITUTE FOR COOPERATIVES 420711488 10 1 15000 0 1 15000 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 SECTION A, LINE 3B THE IOWA COOPERATIVE FOUNDATION CONFIRMED THAT THE SUPPORTED ORGANIZATION (IOWA INSTITUTE FOR COOPERATIVES 41-0711488) QUALIFIED UNDER SECTION 501(C)(6) AND SATISFIED THE PUBLIC SUPPORT TESTS (MORE THAN ONE-THIRD SUPPORT REQUIREMENT TEST AND THE GROSS INVESTMENT INCOME AND UNRELATED BUSINESS INCOME TEST) UNDER SECTION 509(A)(2). AN ANALYSIS OF THE SUPPORTED ORGANIZATION'S REVENUE SOURCE REVEALED THAT MORE THAN ONE-THIRD OF ITS SUPPORT CAME FROM THE RECEIPT OF FEES FROM ITS MEMBERS. FURTHERMORE, IT WAS DETERMINED THAT THE FEES FROM MEMBERS MET THE IRS' CRITERIA OF BEING PROPERLY CLASSIFIED AS "MEMBERSHIP FEES" RATHER THAN 'GROSS RECEIPTS". HENCE, NO LIMITATIONS ON INCLUDIBLE SUPPORT IN THE NUMERATOR OF THE ONE-THIRD SUPPORT TEST. FOR THE 2024 TAX YEAR BOTH THE MORE THAN ONE-THIRD SUPPORT REQUIREMENT TEST AND THE GROSS INVESTMENT INCOME TEST WERE MET. SECTION A, LINE 3C THE IOWA COOPERATIVE FOUNDATION HAS SUFFICIENT SAFEGUARDS IN PLACE TO ENSURE ITS SUPPORT IS USED EXCLUSIVELY FOR CHARITABLE PURPOSES. TO ENSURE THAT IT RETAINS CONTROL AND DISCRETION OVER THE USE OF ITS FUNDS FOR CHARITABLE PURPOSES, CHARITABLE GIFTING TO EDUCATION INSTITUTIONS ARE PAID DIRECTLY FROM THE FOUNDATION. FUNDS ARE NOT PAID TO THE SUPPORTING ORGANIZATION IN FURTHERANCE OF THE SUPPORTING ORGANIZATION'S CHARITABLE PURPOSES. FOR THE 2024 TAX YEAR $35,000 IN AWARDED SCHOLARSHIPS ($30,000) AND DONATIONS ($5,000) WERE PAID TO VARIOUS UNIVERSITIES STEMMING FROM THE IOWA COOPERATIVE FOUNDATION. A PLEDGE FOR $77,500 WAS AWARDED TO THE IOWA FFA ASSOCIATION TO BE PAID OVER A COURSE OF FIVE YEARS ENDING IN 2029. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 56886 1664 1664 55222 0 55222 148761 76261 76261 72500 0 72500 PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C) 3 AND FILES A FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX. THE FOUNDATION IS NOT CLASSIFIED AS A PRIVATE FOUNDATION. THE FOUNDATION EVALUATES UNCERTAIN TAX BENEFITS ARISING FROM TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN BASED UPON THE LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY APPLICABLE TAX AUTHORITIES. IF THE FOUNDATION DETERMINES THAT A TAX POSITION IS MORE LIKELY THAN NOT OF BEING SUSTAINED, IT RECOGNIZES THE LARGEST AMOUNT OF THE ARISING BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON SETTLEMENT IN THE FINANCIAL STATEMENTS. ANY TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT DO NOT PASS THE MORE THAN LIKELY THAN NOT TEST, THE FOUNDATION ESTABLISHES RESERVES OFFSETTING THE BENEFITS RELATED TO SUCH POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE INCLUDED IN THE CURRENT PERIOD PROVISION FOR INCOME TAXES IN THE FOUNDATION'S STATMENTS OF ACTIVITIES AND ARE INCLUDED AS A CURRENT LIABILITY IN THE STATEMENT OF FINACIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: DONATED SERVICES 1,665. AUDIT ROUNDING ADJUSTMENT -1. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED LOSSES ON MARKETABLE SECURITIES 34,596. DONATED SERVICES 1,665. ACCRUED BUT UNPAID UNCONDITIONAL PROMISE TO GIVE TO FFA 40,000. 1 IOWA FFA FOUNDATION 1055 SW PRAIRIE TRAIL PARKWAY ANKENY IA 50023 421305468 37500 0 MULTI YEAR COMMITMENT (2025, 2026, 2027, 2028 & 2029) FOR THE GOLD STANDARD PROGRAM. 1 1 SCHOLARSHIPS FOR STUDENTS ATTENDING MIDWEST UNIVERSITIES 12 2500 PART I, LINE 2: A DONATION OF $5,000 WAS APPROVED AND PAID TO THE IOWA ASSOCIATION OF ELECTRIC COOPERATIVES,(IAEC) AND TWELVE SCHOLARSHIPS OF $2,500 WERE APPROVED BY BOARD MEMBERS. THEIR DECISIONS WERE DULY NOTED IN THE BOARD MINUTES. SCHOLARSHIP FUNDS ARE SENT TO UNIVERSITIES ON BEHALF OF STUDENTS. SCHOLARSHIPS ARE AWARDED TO STUDENTS THAT HAVE WORK EXPERIENCE OR SERVED AN INTERNSHIP AT AN IOWA INSTITUE FOR COOPERATIVE MEMBER COOPERATIVE. IN DECEMBER OF 2024 THE IOWA COOPERATIVE FOUNDATION AGREED TO CONTRIBUTE A TOTAL OF $77,500 TO THE IOWA FFA ASSOCIATION, RAN THROUGH THE IOWA FFA FOUNDATION BETWEEN 2025 AND 2029. $37,500 WAS PAID IN CASH FOR THE 2024 YEAR. 0 0 0 0 0 0 0 0 0 DAVE HOLM STAFF LIAISON (FORMER) 0 275316 0 0 0 0 0 20234 0 10763 0 306313 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE INFORMATION USED TO PREPARE THE FORM 990 COMES DIRECTLY FROM THE AUDITED FINANCIAL STATEMENTS THAT THE COMMITTEE OVERSEES AND ULTIMATELY, SIGNS OFF ON. THE RETURN IS REVIEWED AND SIGNED BY THE STAFF LIAISON BEFORE ITS FILING TO THE IRS. AS A WHOLE, THE BOARD OF DIRECTORS DOES NOT REVIEW THE FORM 990 PRIOR TO ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C IT IS THE FOUNDATION'S POLICY TO CONDUCT BUSINESS ETHICALLY AND TO AVOID CONFLICTS OF INTEREST OR EVEN THE APPEARANCE OF SUCH CONFLICTS. DIRECTORS ARE REQUIRED TO REPORT CONFLICTS OF INTEREST TO THE ENTIRE BOARD IMMEDIATELY UPON DISCOVERY. THE BOARD WILL REVIEW EACH SITUATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES AVAILABLE TO THE PUBLIC FINANCIAL STATEMENTS, THE CONFLICT OF INTEREST POLICY AND ITS GOVERNING DOCUMENTS UPON REQUEST. FORM 990, PART XI, LINE 9: ACCRUED BUT UNPAID UNCONDITIONAL PROMISE TO GIVE TO FFA -40,000. FORM 990, PART XII, LINE 2C THE PROCESS OF SELECTING AN INDEPENDENT ACCOUNTANT AND THE RESPONSIBILITY OF OVERSIGHT OF THE AUDIT HAS NOT CHANGED FROM PRIOR YEARS. IOWA INSTITUTE FOR COOPERATIVES 2515 UNIVERSITY BLVD AMES IA 50010 420711488 PROMOTING THE INTEREST & WELFARE OF IOWA COOPERATIVES IA 501(C)(6) N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 SCHEDULE R/PART V/PAGE 3 THERE WERE NO TRANSACTIONS TO REPORT FOR THE 2024 TAX YEAR THAT EXCEEDED THE $50,000 THRESHOLD BETWEEN THE RELATED TAX EXEMPT ORGANIZATIONS.