Iowa Optometric Association (EIN 420659875) - Form 990 Financial Analysis & Trantor Score

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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

1898

Legal Domicile

Phone

5152225679

Tax Period

2024-05-01 to 2025-04-30

Iowa Optometric Association, founded in 1898, is a community nonprofit that reported $1.3M in total revenue in fiscal year 2024. Revenue decreased 6% compared to the prior year. Net assets of $4.0M represent 37 months of operating reserves.

Mission

THE IOWA OPTOMETRIC ASSOCIATION IS A STATEWIDE PROFESSIONAL ASSOCIATION OF OPTOMETRISTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,199,979

Investment Income $70,242

Other Revenue $36,690

TOTAL REVENUE $1,306,911

Expense Breakdown

Grants Paid $12,000

Salaries & Benefits $229,476

Fundraising Expenses $0

Program Expenses $0

Other Expenses $1,055,290

TOTAL EXPENSES $1,296,766

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,306,911	$1,387,468	-0.1%
Expenses	$1,296,766	$1,376,400	-0.1%
Net Income	$10,145	$11,068	-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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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

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

$206,952

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Benjamin Uhl OD	Secretary/Treasurer	2.0	Officer Director	$0	$0	$0
DONALD FURMAN OD	Past-President	2.0	Officer Director	$0	$0	$0
JASON MAASDAM OD	Vice President	2.0	Officer Director	$0	$0	$0
KEITH SCHRUNK OD	President-Elect	2.0	Officer Director	$0	$0	$0
MICHAEL KRUGER OD	PRESIDENT	2.0	Officer Director	$0	$0	$0
Chad Klein OD	Trustee	2.0	Director	$0	$0	$0
JAYME WILHELM OD	TRUSTEE	2.0	Director	$0	$0	$0
Jeffrey Manternach OD	Trustee	2.0	Director	$0	$0	$0
MELISSA BILLINGS OD	TRUSTEE	2.0	Director	$0	$0	$0
MOLLY WALKER OD	TRUSTEE	2.0	Director	$0	$0	$0
GARY ELLIS	EXECUTIVE DIRECTOR	40.0	Officer	$162,612	$44,340	$206,952

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	$1,306,911	$1,296,766	$3,980,219	$10,145
2024	$1,387,468	$1,376,400	$3,823,315	$11,068
2023	$1,275,378	$1,310,003	$3,778,833	$-34,625
2022	$1,289,293	$1,264,726	$3,760,263	$24,567
2021	$1,007,708	$888,701	$3,657,857	$119,007
2020	$1,142,897	$1,153,155	$3,428,109	$-10,258
2019	$1,239,981	$1,190,105	$3,089,176	$49,876

Iowa Optometric Association