IOWA FIRST FUND (EIN 842210613) - Form 990 Financial Analysis & Trantor Score

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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

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.

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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 (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

Governance

Voting Members

Independent Members

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

$30,000

Total Directors

$30,000

Key Employees

Highest Compensated

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

IOWA FIRST FUND