IOWA LIMESTONE PRODUCERS ASSOCIATION INC

EIN: 420633191

URBANDALE, IA

Total Revenue
$571,195
Total Expenses
$643,638
Total Assets
$283,059
Net Assets
$249,827
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1945
Legal Domicile
IA
Principal Officer
RANDY OLSON
Phone
5152628668
Tax Period
2022-07-01 to 2023-06-30

IOWA LIMESTONE PRODUCERS ASSOCIATION INC, founded in 1945, is a small nonprofit that reported $571K in total revenue in fiscal year 2022. Revenue surged 20% from the prior year, signaling strong growth momentum. Expenses of $644K exceeded revenue, resulting in a 13% operating deficit.

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.

Program Service Accomplishments

Program 1

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...

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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.

Program 2

ONE OF THE ASSOCIATIONS PRIMARY FUNCTIONS IS THE PROMOTION OF THE BENEFITS AND USES OF LIMESTONE. THE ASSOCIATION EXHIBITS AT THE IOWA COUNTY ENGINEERS CONFERENCE, COUNTY SUPERVISORS CONFERENCE AND...

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ONE OF THE ASSOCIATIONS PRIMARY FUNCTIONS IS THE PROMOTION OF THE BENEFITS AND USES OF LIMESTONE. THE ASSOCIATION EXHIBITS AT THE IOWA COUNTY ENGINEERS CONFERENCE, COUNTY SUPERVISORS CONFERENCE AND SCIENCE TEACHERS CONFERENCE, HAY AND FOLIAGE EXPO, FARM PROGRESS SHOW, AND A DAY AT THE STATE CAPITOL.

Program 3

THE ASSOCIATION PROMOTES THE LIMESTONE INDUSTRY IMAGE THROUGH EDUCATION AND TRAINING, INVOLVEMENT WITH PLANNING AND ZONING ISSUES, AND STRENGTHENING GOVERNMENT RELATIONS. THESE EDUCATIONAL PROGRAMS...

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THE ASSOCIATION PROMOTES THE LIMESTONE INDUSTRY IMAGE THROUGH EDUCATION AND TRAINING, INVOLVEMENT WITH PLANNING AND ZONING ISSUES, AND STRENGTHENING GOVERNMENT RELATIONS. THESE EDUCATIONAL PROGRAMS ARE ALSO RELATED TO MINING SAFETY AND RELATED ISSUES. THE ASSOCIATION INITIATED A LEADERSHIP DEVELOPMENT PROGRAM IN 2019 FOR INDIVIDUALS REPRESENTING MEMBER COMPANIES. LED BY A FACILITATOR, THE PROGRAM IS DESIGNED TO ENHANCE SKILLS USEFUL IN BUSINESS AND ASSOCIATION LEADERSHIP.

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Trantor Score

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $14,500
Program Service Revenue $542,136
Investment Income $1,063
Other Revenue $13,496
TOTAL REVENUE $571,195

Expense Breakdown

Grants Paid $16,000
Salaries & Benefits $237,736
Fundraising Expenses $0
Other Expenses $389,902
TOTAL EXPENSES $643,638

Year-over-Year Comparison

2022 2021 Change
Revenue $571,195 $474,084 +0.2%
Expenses $643,638 $483,146 +0.3%
Net Income $-72,443 $-9,062 +7.0%
Key Indicators
✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
3
Volunteers
120

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
$124,771
Total Directors
16
$124,771
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RANDY OLSON EXECUTIVE DI 45.00
Officer Director
$119,007 $5,764 $124,771
ROB MANATT DIRECTOR 0.30
Director
$0 $0 $0
BRIAN DOCKERY DIRECTOR 0.30
Director
$0 $0 $0
MIKE BUSH DIRECTOR 0.30
Director
$0 $0 $0
SHAWN KRIVACHEK DIRECTOR 0.30
Director
$0 $0 $0
CHUCK MANSON DIRECTOR 0.30
Director
$0 $0 $0
ERIK AMUNSON DIRECTOR 0.30
Director
$0 $0 $0
BEN SCHMIDTLEIN DIRECTOR 0.30
Director
$0 $0 $0
BRAD HELMERSON DIRECTOR 0.30
Director
$0 $0 $0
LINDSEY FALK LEFT FEBRUARY 2023 DIRECTOR 0.30
Director
$0 $0 $0
TERRY WINN LEFT FEBRUARY 2023 DIRECTOR 0.30
Director
$0 $0 $0
DAN JAYNES LEFT FEBRUARY 2023 DIRECTOR 0.30
Director
$0 $0 $0
TIM BAIER LEFT MAY 2023 DIRECTOR 0.30
Director
$0 $0 $0
TODD CLOCK PRESIDENT 0.30
Officer Director
$0 $0 $0
GARY RANKIN PRESIDENT EL 0.30
Officer Director
$0 $0 $0
KYLE TIMMER PAST PRESIDE 0.30
Officer 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
2023 $571,195 $643,638 $283,059 $-72,443
2022 $474,084 $483,146 $339,270 $-9,062
2021 $394,832 $340,504 $346,332 $54,328
2020 $517,905 $486,615 $287,655 $31,290
2019 $427,995 $406,562 $255,190 $21,433
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