IOWA CORN PROMOTION BOARD

EIN: 421113939

JOHNSTON, IA

Total Revenue
$23,708,518
Total Expenses
$25,232,234
Total Assets
$21,044,256
Net Assets
$20,787,727
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1977
Legal Domicile
IA
Principal Officer
CRAIG FLOSS
Phone
5152259242
Tax Period
2024-09-01 to 2025-08-31

IOWA CORN PROMOTION BOARD, founded in 1977, is a mid-sized nonprofit that reported $23.7M in total revenue in fiscal year 2024.

Mission

THE IOWA CORN PROMOTION BOARD (ICPB) WORKS TO DEVELOP AND DEFEND MARKETS, FUND RESEARCH, AND PROVIDE EDUCATION ABOUT CORN AND CORN PRODUCTS. ICPB'S MISSION IS TO CREATE OPPORTUNITIES FOR LONG TERM IOWA CORN GROWER PROFITABILITY.

Program Service Accomplishments

Program 1

RESEARCH: THE IOWA CORN PROMOTION BOARD INVESTS IN RESEARCH AND BUSINESS DEVELOPMENT TO DEVELOP HIGHER VALUE INDUSTRIAL USES FOR CORN TO INCREASE THE DEMAND AND THE VALUE OF CORN AS A RAW MATERIAL...

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RESEARCH: THE IOWA CORN PROMOTION BOARD INVESTS IN RESEARCH AND BUSINESS DEVELOPMENT TO DEVELOP HIGHER VALUE INDUSTRIAL USES FOR CORN TO INCREASE THE DEMAND AND THE VALUE OF CORN AS A RAW MATERIAL. THE RESEARCH PROGRAMS ALSO PUT CORN GROWER DOLLARS TO WORK BY DEVELOPING CORN TRAITS TO IMPROVE PRODUCTION EFFICIENCY OF GROWING CORN. SEVERAL PATENTS HAVE BEEN AWARDED FOR THE DEVELOPMENT OF BIOPLASTICS AND BIOCHEMICALS TO MAKE REVEWABLE PLASTIC MATERIAL. THE BUSINESS DEVELOPMENT PROGRAMS INVEST IN COMPANIES AND LEVERAGE THE PATENTS TO CREATE OPPORTUNITIES FOR LONG TERM PROFITABILITY OF CORN GROWERS.

Program 2

MARKET DEVELOPMENT: THE IOWA CORN PROMOTION BOARD (ICPB) PARTICIPATES IN ACTIVITIES AND PROGRAMS THAT EXPAND DOMESTIC AND INTERNATIONAL MARKETS TO INCREASE DEMAND FOR CORN IN ALL FORMS. ICPB PARTNERS...

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MARKET DEVELOPMENT: THE IOWA CORN PROMOTION BOARD (ICPB) PARTICIPATES IN ACTIVITIES AND PROGRAMS THAT EXPAND DOMESTIC AND INTERNATIONAL MARKETS TO INCREASE DEMAND FOR CORN IN ALL FORMS. ICPB PARTNERS WITH THE US MEAT EXPORT FEDERATION AND THE US GRAINS COUNCIL TO BUILD DEMAND INTERNATIONALLY FOR CORN AND CORN PRODUCTS/MEAT. ICPB INVESTMENT IN THOSE TRADE PARTNERS IS MULTIPLIED THROUGH THE INVOLVEMENT OF MANY CORN STATES AND MATCHED WITH GOVERNMENTAL SUPPORT. IN STATE, ICPB WORKS TO MAINTAIN AND GROW IOWA'S LIVESTOCK INDUSTRY THROUGH THE COALITION TO SUPPORT IOWA'S FARMERS (CSIF), A COALITION EFFORT WITH 7 OTHER COMMODITY GROUPS. ETHANOL IS A LEADING MARKET FOR IOWA CORN AND THE ICPB WORKS TO PROMOTE THE USE OF CORN ETHANOL THROUGH PUBLIC EVENTS AS WELL AS MULTI-PLATFORM ADVERTISING CAMPAIGNS THAT INCLUDE BROADCAST, PRINT, RADIO, DIRECT MAIL, DIGITAL AND SOCIAL MEDIA. ICPB IS ALSO WORKING TO INCREASE HIGHER BLENDS OF ETHANOL IN IOWA AND ACROSS THE U.S. WITH INFRASTRUCTURE PROGRAMS.

Program 3

EDUCATION/PROMOTIONS: THE IOWA CORN PROMOTION BOARD (ICPB) EDUCATIONAL PROGRAMS WORK TO REACH BOTH PRODUCER AND CONSUMER AUDIENCES ABOUT THE ECONOMIC AND ENVIRONMENTAL VITALITY OF THE CORN INDUSTRY...

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EDUCATION/PROMOTIONS: THE IOWA CORN PROMOTION BOARD (ICPB) EDUCATIONAL PROGRAMS WORK TO REACH BOTH PRODUCER AND CONSUMER AUDIENCES ABOUT THE ECONOMIC AND ENVIRONMENTAL VITALITY OF THE CORN INDUSTRY IN THE STATE OF IOWA. EDUCATION ABOUT CORN AND THE PRODUCTS MADE FROM CORN HAPPENS THROUGH ADVERTISING, EARNED MEDIA, AND VARIOUS PROMOTIONAL EVENTS. THROUGH A MULTI-PLATFORM PROMOTION AND OUTREACH CAMPAIGN CALLED THE IOWA CORN CYHAWK SERIES, THE ICPB PROMOTES IOWA CORN AND THE FARMERS THAT GROW IT. THE IOWA CORN MOBILE EDUCATION CENTER (ICMEC) TELLS THE STORY OF FARMERS AND THE OVER 4,000 PRODUCTS MADE FROM CORN. THE ICMEC TRAVELS THE STATE TO REACH CONSUMERS, FARMERS, AND STUDENTS. DISTRICT AND COUNTY ORGANIZATIONS USE CORN MATERIALS TO TALK WITH STUDENTS AND CONSUMERS ABOUT FARMERS AND FOOD, FEED AND FUEL MADE FROM CORN. EDUCATION OF CONSUMERS AND PRODUCERS HAPPENS IN STATE AND ON A NATIONAL LEVEL THROUGH WORKING WITH NATIONAL AND OTHER STATE CORN ASSOCIATIONS ON JOINT PROGRAMS, SUCH AS COMMONGROUND. IN IOWA, EDUCATION ALSO TAKES PLACE BY LEVERAGING PEOPLE AND INVESTMENTS WITH AFFILIATE ORGANIZATIONS WITHIN AGRICULTURE.

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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 $23,146,710
Investment Income $561,808
Other Revenue $0
TOTAL REVENUE $23,708,518

Expense Breakdown

Grants Paid $23,654,916
Salaries & Benefits $45,500
Fundraising Expenses $0
Other Expenses $1,531,818
TOTAL EXPENSES $25,232,234

Year-over-Year Comparison

2024 2023 Change
Revenue $23,708,518 $22,905,648 +0.0%
Expenses $25,232,234 $28,982,840 -0.1%
Net Income $-1,523,716 $-6,077,192 -0.7%
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
12
Independent Members
12
Employees
N/A
Volunteers
459

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
5
$697,325
Total Directors
12
$29,800
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RALPH LENTS PRESIDENT 5.00
Officer Director
$7,000 $0 $7,000
JOE ROBERTS VICE PRESIDENT 5.00
Officer Director
$3,300 $0 $3,300
STAN NELSON CHAIR 5.00
Officer Director
$7,400 $0 $7,400
MIKAYLA COLEHOUR DIRECTOR 5.00
Director
$0 $0 $0
JEROD FLAHERTY DIRECTOR 5.00
Director
$0 $0 $0
PAUL GIESELMAN DIRECTOR 5.00
Director
$4,200 $0 $4,200
CHAD HARMS DIRECTOR 5.00
Director
$800 $0 $800
DEREK KEMPER DIRECTOR 5.00
Director
$600 $0 $600
JERRY MAIER DIRECTOR 5.00
Director
$300 $0 $300
JASON ORR DIRECTOR 5.00
Director
$2,700 $0 $2,700
DARIN PROFFIT DIRECTOR 5.00
Director
$600 $0 $600
RYAN STEFFENSEN DIRECTOR 5.00
Director
$2,900 $0 $2,900
CRAIG FLOSS CHIEF EXECUTIVE OFFICER 40.00
Officer
$491,342 $68,329 $559,671
VALERIE SANCHEZ SENIOR DIRECTOR OF FINANCE 40.00
Officer
$97,634 $22,320 $119,954
JULIE KIRBY VP OF FINANCE (THRU 7/24) 0.00
$153,123 $30,226 $183,349
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 $23,708,518 $25,232,234 $21,044,256 $-1,523,716
2024 $22,905,648 $28,982,840 $22,730,958 $-6,077,192
2023 $21,595,790 $21,911,198 $28,599,152 $-315,408
2022 $24,524,776 $21,195,043 $28,871,996 $3,329,733
2021 $21,209,650 $18,908,620 $25,536,822 $2,301,030
2020 $22,013,466 $18,564,664 $23,359,548 $3,448,802
2019 $21,226,169 $18,723,951 $20,845,483 $2,502,218
2018 $23,705,800 $19,897,467 $19,489,371 $3,808,333
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