ASPHALT PAVING ASSOCIATION OF IOWA

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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

1955

Legal Domicile

Principal Officer

MIKE KVACH

Phone

5152230015

Tax Period

2024-02-01 to 2025-01-31

ASPHALT PAVING ASSOCIATION OF IOWA, founded in 1955, is a small nonprofit that reported $823K in total revenue in fiscal year 2024. Expenses of $979K exceeded revenue, resulting in a 19% operating deficit.

Mission

THE MISSION OF THE ASPHALT PAVING ASSOCIATION IS TO PROMOTE THE USE OF HOT MIX ASPHALT CONSTRUCTION, AND IS DEDICATED TO PROVIDING ITS MEMBERS WITH TECHNICAL, EDUCATIONAL AND MARKETING SUPPORT THAT WILL BEST AID THEM IN THE PRODUCTION AND CONSTRUCTION OF QUALITY ASPHALT.

Program Service Accomplishments

Program 1

MEMBERS ADVANCE THEIR KNOWLEDGE AND THE PUBLIC'S KNOWLEDGE OF USES OF ASPHALTIC ROAD MATERIALS BY THE EXCHANGEOF INFORMATION REGARDING ITS USES, VALUE, AND FUTURE DEVELOPMENTS OF THE PRODUCT.

Program 2

THE ASSOCIATION HOLDS AN ANNUAL CONVENTION FOR ITS MEMBERS, WHICH IS DESIGNED TO PROVIDE MEMBERS WITH THE LATEST INFORMATION IN THE HOT-MIX ASPHALT (HMA) INDUSTRY, AS WELL AS ALLOW THE MEMBERS TO...

THE ASSOCIATION HOLDS AN ANNUAL CONVENTION FOR ITS MEMBERS, WHICH IS DESIGNED TO PROVIDE MEMBERS WITH THE LATEST INFORMATION IN THE HOT-MIX ASPHALT (HMA) INDUSTRY, AS WELL AS ALLOW THE MEMBERS TO DEVELOP LEADERSHIP AND NETWORKING OPPORTUNITIES.

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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 $452,836

Program Service Revenue $346,348

Investment Income $14,715

Other Revenue $8,917

TOTAL REVENUE $822,816

Expense Breakdown

Grants Paid $0

Salaries & Benefits $457,769

Fundraising Expenses $0

Other Expenses $521,511

TOTAL EXPENSES $979,280

Year-over-Year Comparison

	2024	2023	Change
Revenue	$822,816	$829,194	0.0%
Expenses	$979,280	$843,621	+0.2%
Net Income	$-156,464	$-14,427	+9.8%

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

N/A

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

$136,975

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH MANATT	PRESIDENT	0.30	Director	$0	$0	$0
DAN ROBERTS	VICE PRESIDENT	0.30	Director	$0	$0	$0
CHRIS WINKEL	PAST PRESIDENT	0.30	Director	$0	$0	$0
TYLER BESSMER	DIRECTOR	0.30	Director	$0	$0	$0
ANDY ADAMCIK	DIRECTOR	0.30	Director	$0	$0	$0
CHRIS JESSEN	DIRECTOR	0.30	Director	$0	$0	$0
JOEL GRYP	SECRETARY/TREASURER	0.30	Director	$0	$0	$0
BRAD HENNINGSEN	DIRECTOR	0.30	Director	$0	$0	$0
LIZ BALOUN	DIRECTOR	0.30	Director	$0	$0	$0
MIKE KVACH	EXECUTIVE VICE PRESIDENT	40.00	Officer	$67,600	$0	$67,600
SCOTT DOCKSTADER	PAST EXECUTIVE VICE PRESIDENT	40.00	Officer	$69,375	$0	$69,375

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	$822,816	$979,280	$481,118	$-156,464
2023	$870,137	$887,041	$664,266	$-16,904
2022	$777,097	$778,846	$624,459	$-1,749
2021	$809,845	$669,223	$573,132	$140,622
2020	$1,003,499	$986,883	$489,188	$16,616
2019	$896,965	$927,772	$476,410	$-30,807