Iowa Educators Corporation

Nonprofit profile at a glance

EIN
421511625
IRS 990 coverage
2011–2014
Forms available
Form 990 2014
Location
Cedar Falls, IA, USA
Phone
3192689000
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$447,333
Expenses
$1,096,838
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • DR JOY PROTHERO (PRESIDENT)
  • DR EARL BRIDGEWATER (VICE PRESIDENT)
  • DR ROBERT VITTENGL (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DR ROBERT VITTENGL (EXECUTIVE DIRECTOR): $107,932 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide supporting services to Iowa area education agencies, public and parochial schools.

What it reported doing in 2014

The primary function of the Iowa educators corporation (iec) is to support the area education agencies in providing a voluntary cooperative purchasing program for Iowa k-12 school districts. In addition to aggressive pricing, the iec provides product research, procurement and training to support the educational functions.the iec dissolved effective june 30, 2015 and all programmatic activity and assets were transferred to the Iowa association of educational purchasing (iaep) a tax-exempt governmental unit with a significant educational mission similar to the mission that iec was organized and operated to support.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 41% for direct work, and 59% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 93
  • Accountability: 84
  • Sustainability: 5
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 92.8%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 79th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -145.2%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 5.7%; rating input score 39; 39th percentile among comparable filings

Growth

  • Program expense growth: 59.8% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: -8.9% per year; rating input score 0; 15th percentile among comparable filings
  • Asset growth: -43.5% per year; rating input score 0; 2nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 92.8% of spending went to programs
  • Governance: 9 of 9 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1M in reported program spending
  • Leadership: top reported pay $108K · 10 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 6 filed schedules · includes grants
  • Filing history: 4 filing years from 2011 to 2014
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 39/100.