IOWA FIRST FUND

EIN: 842210613

West Des Moines, IA

Total Revenue
$364,750
Total Expenses
$121,480
Total Assets
$891,835
Net Assets
$891,835
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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
2019
Legal Domicile
IA
Principal Officer
W CHARLES SMITHSON
Phone
5156812354
Tax Period
2023-01-01 to 2023-12-31

IOWA FIRST FUND, founded in 2019, is a small nonprofit that reported $365K in total revenue in fiscal year 2023. Revenue fell 49% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $243K, a strong 67% operating margin.

Mission

IOWA FIRST FUND WAS ORGANIZED FOR THE PURPOSE OF EDUCATING AND INFORMING IOWA VOTERS ABOUT LIMITED GOVERNMENT AND EXPANDING ECONOMIC OPPORTUNITY.

Program Service Accomplishments

Program 1
Expenses: $115,580 Revenue: $364,750

PROVIDING EDUCATION AND INFORMATION FOR IOWA VOTERS ABOUT LIMITED GOVERNMENT AND EXPANDING ECONOMIC OPPORTUNITY.

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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 $364,750
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $364,750

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $115,580
Other Expenses $121,480
TOTAL EXPENSES $121,480

Year-over-Year Comparison

2023 2022 Change
Revenue $364,750 $722,050 -0.5%
Expenses $121,480 $336,400 -0.6%
Net Income $243,270 $385,650 -0.4%
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

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Governance

Voting Members
2
Independent Members
2
Employees
N/A
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
2
$30,000
Total Directors
2
$30,000
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
W CHARLES SMITHSON PRESIDENT AND TREASURER 2.00
Officer Director Highest
$30,000 $0 $30,000
GEOFF JENSEN SECRETARY 1.00
Officer 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
2024 No data No data No data No data
2023 $364,750 $121,480 $891,835 $243,270
2022 $722,050 $336,400 $648,565 $385,650
2021 $231,175 $53,740 $262,916 $177,435
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