TAX EDUCATION SUPPORT ORGANIZATION

EIN: 421245565 501(c)(3) Public & Societal Benefit

MUSCATINE, IA

Total Revenue
$1,916,112
Total Expenses
$2,356,970
Total Assets
$45,991,484
Net Assets
$45,983,528
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1984
Legal Domicile
IA
Principal Officer
ROBERT SOLT
Phone
5632648080
Tax Period
2023-01-01 to 2023-12-31

TAX EDUCATION SUPPORT ORGANIZATION, founded in 1984, is a community nonprofit in the Public & Societal Benefit sector that reported $1.9M in total revenue in fiscal year 2023. Revenue decreased 8% compared to the prior year. Expenses of $2.4M exceeded revenue, resulting in a 23% operating deficit.

Mission

OUR MISSION IS TO SUPPORT THE ACTIVITIES OF THE IOWANS FOR TAX RELIEF FOUNDATION (ITR FOUNDATION), AN IRC 501(C)(3) ORGANIZATION. ITR FOUNDATION'S MISSION IS TO EDUCATE THE GENERAL PUBLIC ABOUT THE TAX AND SPENDING PRACTICES OF STATE AND LOCAL GOVERNMENT IN IOWA. THEY ALSO COMPILE RESEARCH ON FISCAL TOPICS AND PROVIDE STATE BY STATE COMPARATIVE DATA.ITR FOUNDATION DISTRIBUTES THIS RESEARCH THROUGH PUBLICATIONS, SOCIAL MEDIA, SPEAKING ENGAGEMENTS, AND OUR WEBSITE.

Program Service Accomplishments

Program 1
Expenses: $1,970,654

SUPPORT IOWANS FOR TAX RELIEF FOUNDATION BY PROVIDING STAFF, SERVICES, EQUIPMENT, DATA PROCESSING, WEBSITE, EDUCATIONAL MEETINGS, PRINTING, POSTAGE, AND OTHER ASSISTANCE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $1,886,485
Other Revenue $29,627
TOTAL REVENUE $1,916,112

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,937,703
Fundraising Expenses $107,544
Program Expenses $1,970,654
Other Expenses $419,267
TOTAL EXPENSES $2,356,970

Year-over-Year Comparison

2023 2022 Change
Revenue $1,916,112 $2,081,225 -0.1%
Expenses $2,356,970 $2,193,209 +0.1%
Net Income $-440,858 $-111,984 +2.9%
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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Governance

Voting Members
5
Independent Members
3
Employees
12
Volunteers
3

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
3
$731,946
Total Directors
5
$731,946
Key Employees
0
$0
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT H SOLT PRESIDENT 39.00
Officer Director
$424,605 $22,756 $447,361
RICHARD R PHILLIPS VP, SECRETARY, TREASURER 20.00
Officer Director
$262,893 $21,692 $284,585
PETER E VOORHEES CHAIRMAN 2.00
Officer Director
$0 $0 $0
CHARLES ESPY DIRECTOR 2.00
Director
$0 $0 $0
BRYAN OGHE DIRECTOR 2.00
Director
$0 $0 $0
CHRISTOPHER S INGSTAD ASSISTANT TREASURER 20.00
Highest
$211,328 $22,597 $233,925
DAN G STEELE EMPLOYEE 18.00
Highest
$81,827 $11,656 $188,554
CHRISTOPHER W NICHOLS EMPLOYEE 40.00
Highest
$147,621 $22,067 $169,688
CHRISTOPHER HAGENOW EMPLOYEE 18.00
Highest
$73,076 $22,597 $193,381
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 No data No data No data No data
2024 No data No data No data No data
2023 $1,916,112 $2,356,970 $45,991,484 $-440,858
2022 $2,081,225 $2,193,209 $40,260,726 $-111,984
2021 $3,841,089 $2,112,221 $50,122,645 $1,728,868
2020 $2,078,981 $1,878,534 $45,972,282 $200,447
2019 $3,769,437 $1,880,069 $41,082,708 $1,889,368
2018 $3,025,820 $1,627,797 $36,118,641 $1,398,023
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