Iowa Corn Promotion Board

Nonprofit profile at a glance

EIN: 421113939
IRS 990 coverage: 2009–2024
Forms available: Form 990 2024
Location: Johnston, IA, USA
Phone: 5152259242
Rating confidence: Limited

Official website

Reported finances

Revenue: $23,708,518
Expenses: $25,232,234
Assets: $21,044,256
Liabilities: $256,529

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

RALPH LENTS (PRESIDENT)
JOE ROBERTS (VICE PRESIDENT)
CRAIG FLOSS (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

CRAIG FLOSS (CHIEF EXECUTIVE OFFICER): $559,671 total reported compensation
JULIE KIRBY (VP OF FINANCE (THRU 7/24)): $183,349 total reported compensation
VALERIE SANCHEZ (SENIOR DIRECTOR OF FINANCE): $119,954 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The Iowa corn promotion board (icpb) works to develop and defend markets, fund research, and provide education about corn and corn products. Icpb's mission is to create opportunities for long term Iowa corn grower profitability.

What it reported doing in 2024

Education/promotions: the Iowa corn promotion board (icpb) educational programs work to reach both producer and consumer audiences about the economic and environmental vitality of the corn industry in the state of Iowa. Education about corn and the products made from corn happens through advertising, earned media, and various promotional events. Through a multi-platform promotion and outreach campaign called the Iowa corn cyhawk series, the icpb promotes Iowa corn and the farmers that grow it. The Iowa corn mobile education center (icmec) tells the story of farmers and the over 4,000 products made from corn. The icmec travels the state to reach consumers, farmers, and students. District and county organizations use corn materials to talk with students and consumers about farmers and food, feed and fuel made from corn. Education of consumers and producers happens in state and on a national level through working with national and other state corn associations on joint programs, such as commonground. In Iowa, education also takes place by leveraging people and investments with affiliate organizations within agriculture.

Operating model

Revenue model: Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model: Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

Financial Efficiency: NotEnoughData
Transparency & Controls: 68
Accountability: 91
Sustainability: 34
Growth: 60

Detailed rating inputs

Financial Efficiency

Mission deployment rate: Limited
Program expense ratio: Limited
Fundraising efficiency: Limited

Transparency & Controls

Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
Foreign activity oversight: Limited
Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
Major donor itemization: Limited
Related-party transparency: Limited

Accountability

Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass

Sustainability

Operating margin: -6.4%; rating input score 14; 14th percentile among comparable filings
Total-asset coverage ratio: 0.83; rating input score 30; 30th percentile among comparable filings
Liabilities to assets ratio: 0.01; rating input score 92; 92nd percentile among comparable filings
Officer compensation ratio: 3.5%; rating input score 63; 63rd percentile among comparable filings

Growth

Program expense growth: Limited
Revenue growth: 3.1% per year; rating input score 100; 27th percentile among comparable filings
Asset growth: 6.9% per year; rating input score 100; 48th percentile among comparable filings

Details

Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
Governance: 12 of 12 board members independent · 7 of 9 filing controls reported
Programs: 3 filed program accomplishments
Leadership: top reported pay $560K · 15 people listed · 0 of 6 pay-setting controls reported
Highest-paid contractors: 1 contractor listed · $1.9M reported
Consistency: 14 of 14 current checks pass
Schedules: 4 filed schedules · includes grants and executive pay
Filing history: 16 filing years from 2009 to 2024
Contacts: How to reach this organization
Money network: 14 filed money-flow records
Related organizations: 1 filed related-organization link
Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

High — Transparency & Controls: Pay-setting controls scored 0/100.
High — Sustainability: Operating margin scored 14/100.
Review — Accountability: Governance controls: 2 of 9 not reported.
Moderate — Sustainability: Total-asset coverage ratio scored 30/100.