Iowa Pharmacy Association

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1905

Legal Domicile

Principal Officer

Kate Gainer

Phone

5152700713

Tax Period

2023-01-01 to 2023-12-31

Iowa Pharmacy Association, founded in 1905, is a community nonprofit in the Health Care sector that reported $1.5M in total revenue in fiscal year 2023. Revenue decreased 18% compared to the prior year. Expenses of $1.8M exceeded revenue, resulting in a 20% operating deficit.

Mission

Preserve and advance the interests of the profession of pharmacy and to serve the professional needs of member pharmacists, pharmacy technicians, student pharmacists, and pharmacy owners.

Program Service Accomplishments

Program 1

Legislative support In 2023 the IPA advocated for legislation to modernize the Iowa pharmacy practice act and to increase PBM pharmacy benefits managers regulation and enforcement in Iowa.

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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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,424,745

Investment Income $14,588

Other Revenue $57,750

TOTAL REVENUE $1,497,083

Expense Breakdown

Grants Paid $0

Salaries & Benefits $868,901

Fundraising Expenses $0

Other Expenses $928,393

TOTAL EXPENSES $1,797,294

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,497,083	$1,831,999	-0.2%
Expenses	$1,797,294	$1,706,262	+0.1%
Net Income	$-300,211	$125,737	-3.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

147

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

$205,091

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Kate Gainer	Executive VP CEO	040.00	Officer	$173,690	$31,401	$205,091
Cheri Schmit	Chair	001.00	Officer Director	$0	$0	$0
John Hamiel	President	001.00	Officer Director	$0	$0	$0
Kristin Meyer	Treasurer	001.00	Officer Director	$0	$0	$0
Wesley Pilkington	Speaker of the House	001.00	Officer Director	$0	$0	$0
Kayla Batdorf	Trustee	001.00	Director	$0	$0	$0
Connie Bentrott	Trustee	001.00	Director	$0	$0	$0
Brett Faine	Trustee	001.00	Director	$0	$0	$0
Cory Garvin	Trustee	001.00	Director	$0	$0	$0
John Hamiel	Trustee	001.00	Director	$0	$0	$0
Morgan Herring	Trustee	001.00	Director	$0	$0	$0
Jim Hoehns	Trustee	001.00	Director	$0	$0	$0
Natalie Hunter	Trustee	001.00	Director	$0	$0	$0
Wendy Kinne	Trustee	001.00	Director	$0	$0	$0
Laura Knockel	Trustee	001.00	Director	$0	$0	$0
John L'Estrange	Trustee	001.00	Director	$0	$0	$0
Micaela Maeyaert	Trustee	001.00	Director	$0	$0	$0
Robert Nichols	Trustee	001.00	Director	$0	$0	$0
Marilyn Osterhaus	Trustee	001.00	Director	$0	$0	$0
Rebecca Scribano	Trustee	001.00	Director	$0	$0	$0

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
2024	No data	No data	No data	No data
2023	$1,497,083	$1,797,294	$1,062,665	$-300,211
2022	$1,831,999	$1,706,262	$1,251,733	$125,737
2021	$1,421,685	$1,256,303	$1,272,304	$165,382
2020	$1,294,773	$1,310,854	$920,908	$-16,081
2019	$1,482,786	$1,495,747	$960,683	$-12,961
2018	$1,559,220	$1,471,517	$918,375	$87,703