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← IOWA LEADERS IN EDUCATION AND ADVOCACY

Form 990 for tax year 2023

Filed by IOWA LEADERS IN EDUCATION AND ADVOCACY.

Totals

Total revenue
$91,025
Total expenses
$90,000
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$91,025
Investment income
$0
Other revenue
$0
Total assets, end of year
$55,013
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$55,013
Program services expenses (Part IX)
$90,000
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$90,000

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ISSUE ADVOCACY SUPPORT

    total $91,025 · related or exempt $91,025

Functional expenses

Part IX, the statement of functional expenses.

  • 12 · Advertising and promotion

    total $90,000 · program services $90,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $53,988 · end of year $55,013

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $53,988 · end of year $55,013

Mission and programs · 2023

Mission

THE PRIMARY PURPOSE OF IOWA LEADERS IN EDUCATION AND ADVOCACY, INC. "I-LEAD" IS TO PROMOTE SOCIAL WELFARE WITHIN THE MEANING OF SECTION 501(C)(4) OF THE IRC BY EDUCATING THE GENERAL PUBLIC ON THE ROLE IOWA'S FINANCIAL INSTITUTIONS PLAY IN IOWA AND THE NATION'S ECONOMY.

  • I-LEAD WAS FORMED ON APRIL 24, 2014 AND FUNDING FOR I-LEAD IS USED FOR VARIOUS PURPOSES OF PROMOTING THE BANKING INDUSTRY ACROSS THE STATE OF IOWA. MOST NOTABLY FUNDING FOR ILEAD HAS BEEN USED FOR INDUSTRY ISSUE ADVOCACY CAMPAIGNS SUCH AS TAX REFORM AND TAX FAIRNESS, AS WELL AS PUBLIC IMAGE CAMPAIGNS USING VARIOUS FORMS OF MEDIA COMMUNICATION.

    Expenses $90,000 · Revenue $91,025

As filed on the 2023 return.

Listed in Part VII

  • John Sorensen

    SECRETARY

    Total calculated
    $735,827
    From this org
    $0
    From related orgs
    $546,739
    Other
    $189,088
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $435,046 related
    Bonus
    $0 + $94,295 related
    Other
    $0 + $17,398 related
    Deferred
    $0 + $168,884 related
    Nontaxable benefits
    $0 + $20,204 related
    Filer's total
    $0 + $735,827 related

  • Aaron Kness End 923

    PAST CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.25 + 2 related

  • Jim Plagge

    CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Kim Greenland End 923

    TREASURER

    Total calculated
    $0
    Hours/week
    0.25 + 2 related

  • Mary Kay Bates

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.25 + 2 related

  • Matt Lujano

    PAST CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.25 + 2 related

  • Melissa Ballard

    TREASURER

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Sharon Presnall

    EXECUTIVE DIRECTOR

    Total calculated
    $302,850
    From this org
    $0
    From related orgs
    $272,733
    Other
    $30,117
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $228,724 related
    Bonus
    $0 + $32,916 related
    Other
    $0 + $11,093 related
    Deferred
    $0 + $7,342 related
    Nontaxable benefits
    $0 + $22,775 related
    Filer's total
    $0 + $302,850 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A:
CLUB DUES AND TRAVEL FOR SPOUSE WERE PROVIDED TO JOHN SORENSEN AS TAXABLE COMPENSATION BY A RELATED ORGANIZATION.
PART I, LINE 3:
THE ORGANIZATION RELIES UPON THE METHODS USED BY THE RELATED ORGANIZATION TO DETERMINE COMPENSATION.
PART I, LINE 4B:
JOHN SORENSEN PARTICIPATED IN A NON-QUALIFIED PENSION RESTORATION PLAN AND RECEIVED NO PAYMENTS FROM THE PLAN DURING THE YEAR.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • IOWA BANKERS INSURANCE & SERVICES INC

    C · SALES-INSURANCE & MARKETING · IA · controlled entity

  • MID AMERICA BANKERS INSURANCE SERVICES

    C · INSURANCE · IA · controlled entity

  • IOWA BANKERS MORTGAGE CORPORATION

    C · MORTGAGE BANKING · IA · controlled entity

Provenance

Return type
form_990
Tax year
2023
Filed
28 August 2024
IRS schema version
2023v5.1
Source object
202402499349300515

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