IOWA TECHNOLOGY AND EDUCATION CONN… - Form 990 Financial Data

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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

1988

Legal Domicile

Principal Officer

JOSEPH WAKEMAN

Phone

7122746000

Tax Period

2024-07-01 to 2025-06-30

IOWA TECHNOLOGY AND EDUCATION CONNECTION, founded in 1988, is a small nonprofit that reported $164K in total revenue in fiscal year 2024. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $197K exceeded revenue, resulting in a 21% operating deficit.

Mission

USE OF TECHNOLOGY TO IMPROVE EDUCATION AND LEARNING

Program Service Accomplishments

Program 1

Expenses: $157,064

ANNUAL ITEC CONFERENCE WITH PURPOSE OF EDUCATING MEMBERS AND OTHER ATTENDEES REGARDING USE OF TECHNOLOGY TO SUPPORT STUDENT ACHIEVEMENT.

Program 2

ITEC WEBSITE & MEMBERSHIP COMMUNICATION. COMMUNICATE IDEAS AND INFORMATION TO MEMBERS.

Program 3

WORKSHOPS FOR HANDS-ON TRAINING IN NEW AND DEVELOPING TECHNOLOGIES TO PROMOTE EFFECTIVE USE OF TECHNOLOGY IN CLASSROOMS. IT SUPPORT STAFF ATTENDED THE FALL CONFERENCE WITH THE PURPOSE OF EDUCATING...

WORKSHOPS FOR HANDS-ON TRAINING IN NEW AND DEVELOPING TECHNOLOGIES TO PROMOTE EFFECTIVE USE OF TECHNOLOGY IN CLASSROOMS. IT SUPPORT STAFF ATTENDED THE FALL CONFERENCE WITH THE PURPOSE OF EDUCATING THE ATTENDEES IN EFFECTIVE SUPPORT FOR TECHNOLOGY BASED LEARNING.

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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 $163,640

Investment Income $10

Other Revenue $0

TOTAL REVENUE $163,650

Expense Breakdown

Grants Paid $0

Salaries & Benefits $24,316

Fundraising Expenses $0

Program Expenses $157,064

Other Expenses $173,027

TOTAL EXPENSES $197,343

Year-over-Year Comparison

	2024	2023	Change
Revenue	$163,650	$242,789	-0.3%
Expenses	$197,343	$217,592	-0.1%
Net Income	$-33,693	$25,197	-2.3%

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

$17,500

Total Directors

$24,000

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH WAKEMAN	EXECUTIVE DI	8.00	Officer Director	$17,500	$0	$17,500
LANCE LENNON	EVENTS COORD	5.00	Director	$6,500	$0	$6,500
ANDY BELAND	DIRECTOR	1.00	Director	$0	$0	$0
MARISA DAHL	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK DONOVAN	DIRECTOR	1.00	Director	$0	$0	$0
ANDREW FENSTERMAKER	PRESIDENT	1.00	Director	$0	$0	$0
SHAWNA HARRIS	DIRECTOR	1.00	Director	$0	$0	$0
JAMIE ISRAEL	DIRECTOR	1.00	Director	$0	$0	$0
LYNN KLEINMEYER	PAST PRESIDE	1.00	Director	$0	$0	$0
DAN RADER	DIRECTOR	1.00	Director	$0	$0	$0
DEVIN SCHOENING	DIRECTOR	1.00	Director	$0	$0	$0
PHIL TRIMBLE	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN UNRUH	DIRECTOR/SEC	1.00	Director	$0	$0	$0
LAURA WILLIAMS	DIRECTOR	1.00	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
2025	$163,650	$197,343	$213,478	$-33,693
2024	$242,789	$217,592	$247,171	$25,197
2023	$287,927	$203,949	$221,974	$83,978
2022	$217,389	$191,766	$137,996	$25,623
2021	$43,927	$106,131	$112,373	$-62,204
2020	$220,008	$267,775	$174,577	$-47,767
2019	$269,906	$270,668	$222,344	$-762
2018	$282,852	$277,068	$223,106	$5,784

IOWA TECHNOLOGY AND EDUCATION CONNECTION