Iowa Limestone Producers Association Inc

Nonprofit profile at a glance

EIN
420633191
IRS 990 coverage
2012–2022
Forms available
Form 990 2022
Location
Urbandale, IA, USA
Phone
5152628668
Rating
50
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$571,195
Expenses
$643,638
Assets
$283,059
Liabilities
$33,232

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • TODD CLOCK (PRESIDENT)
  • GARY RANKIN (PRESIDENT EL)

Highest reported compensation

  • RANDY OLSON (EXECUTIVE DI): $124,771 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promoting and advancing the general welfare of the crushed limestone industry and affiliated construction aggregate industry consistent with public interest and to perform all desirable and lawful functions necessary for the efficient, constructive and beneficial operations of the industry.

What it reported doing in 2022

The organization annually holds a golf outing and a summer outing. Both outings provide members with an opportunity to network and share their knowledge and expertise. These are also a venue for two of six annual board of director meetings. The association holds an annual conference and expo providing a venue for social member interaction and education programs. Members are able to show the benefits of their products as well as see what is available in the current technology market.

Operating model

Revenue model
Earned-program. 95% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 94
  • Accountability: 90
  • Sustainability: 19
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • 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: Fail

Sustainability

  • Operating margin: -12.7%; rating input score 15; 15th percentile among comparable filings
  • Total-asset coverage ratio: 0.44; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.12; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 19.4%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.4% per year; rating input score 100; 44th percentile among comparable filings
  • Asset growth: 7.4% per year; rating input score 100; 50th percentile among comparable filings

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 11 of 11 board members independent · 6 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $125K · 16 people listed
  • Consistency: 13 of 15 current checks pass · 2 findings to review
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 10 filing years from 2012 to 2022
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 15/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Sustainability: Officer compensation ratio scored 15/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.