Iowa-Nebraska Farm Equipment Association Inc

EIN: 420332550

Johnston, IA

Total Revenue
$3,771,465
Total Expenses
$3,277,924
Total Assets
$12,821,774
Net Assets
$8,694,844
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1927
Legal Domicile
IA
Phone
5152235119
Tax Period
2024-10-01 to 2025-09-30

Iowa-Nebraska Farm Equipment Association Inc, founded in 1927, is a community nonprofit that reported $3.8M in total revenue in fiscal year 2024. Expenses of $3.3M left a modest 13% surplus.

Mission

THE ASSOCIATION IS A NONPROFIT CORPORATION ENGAGED IN THE JOINING, THROUGH MEMBERSHIP, OF VARIOUS FARM, INDUSTRIAL AND OUTDOOR POWER EQUIPMENT DEALERS THROUGHOUT IOWA AND NEBRASKA TO PROMOTE AND DISSEMINATE KNOWLEDGE AND INFORMATION CONCERNING FARM IMPLEMENT AND EQUIPMENT DEALERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $3,563,927
Investment Income $207,538
Other Revenue $0
TOTAL REVENUE $3,771,465

Expense Breakdown

Grants Paid $99,430
Salaries & Benefits $1,484,463
Fundraising Expenses $0
Program Expenses $0
Other Expenses $1,694,031
TOTAL EXPENSES $3,277,924

Year-over-Year Comparison

2024 2023 Change
Revenue $3,771,465 $3,777,476 0.0%
Expenses $3,277,924 $3,212,255 +0.0%
Net Income $493,541 $565,221 -0.1%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
8
Independent Members
8
Employees
N/A
Volunteers
8

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$295,950
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVE MCCARTHY VICE CHAIRMAN 0.4
Officer Director
$0 $0 $0
JAY FUNKE PAST CHAIRMAN 0.4
Officer Director
$0 $0 $0
KEVIN CLARK CHAIRMAN 0.4
Officer Director
$0 $0 $0
BRUCE BOWMAN DIRECTOR 0.4
Director
$0 $0 $0
CLAY HALEY DIRECTOR 0.4
Director
$0 $0 $0
KEITH KREPS DIRECTOR 0.4
Director
$0 $0 $0
KENT GROSSHANS DIRECTOR 0.4
Director
$0 $0 $0
MARK PLACEK DIRECTOR 0.4
Director
$0 $0 $0
MARK HENNESSEY CEO 40.0
Officer
$0 $53,258 $295,950
CINDY FELDMAN MARKETING DIRECTOR 40.0
Highest
$0 $31,270 $157,612
DONNA MILLER OPERATIONS MANAGER 40.0
Highest
$0 $18,732 $141,509
JAMES MERTZ Director of Dealer and Government Affairs 40.0
Highest
$0 $42,061 $200,630
PHILIP ERDMAN DIRECTOR OF DEALER RELATIONSHIPS 40.0
Highest
$0 $58,191 $224,032
TOM JUNGE IA FIELD DIRECTOR 40.0
Highest
$0 $45,715 $206,594
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $3,771,465 $3,277,924 $12,821,774 $493,541
2024 $3,777,476 $3,212,255 $11,447,526 $565,221
2023 $3,573,450 $3,069,664 $9,522,882 $503,786
2022 $3,095,740 $2,796,443 $8,633,028 $299,297
2021 $2,287,220 $2,523,728 $8,214,656 $-236,508
2020 $3,033,249 $2,680,427 $7,842,226 $352,822
2019 $2,880,158 $2,721,858 $7,915,729 $158,300
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