Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service
Return of Private Foundation
or Section 4947(a)(1) Nonexempt Charitable Trust
Treated as a Private Foundation
Note. The foundation may be able to use a copy of this return to satisfy state reporting requirements.
OMB No. 1545-0052
2011
For calendar year 2011, or tax year beginning 01-01-2011 , and ending 12-31-2011
G
Check all that apply:
Name of foundation
IOWA FOUNDATION FOR AGRICULTURAL
ADVANCEMENT

Number and street (or P.O. box number if mail is not delivered to street address)1440 NW 134TH AVE C/O LINDA WELDON   Room/suite
City or town, state, and ZIP code
SLATER, IA50244
A Employer identification number

42-1183067
B Telephone number (see page 10 of the instructions)

(515) 685-3719
C bullet
D 1. bullet
H Check type of organization:
2. bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$0J Accounting method:
 
(Part I, column (d) must be on cash basis.)
E bullet
F bullet
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see page 11 of the instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 122,141
2 Check bullet
3 Interest on savings and temporary cash investments 1,409 1,409 1,409
4 Dividends and interest from securities......      
5a Gross rents..............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10  
b Gross sales price for all assets on line 6a  
7 Capital gain net income (from Part IV, line 2)...  
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances 284,011
b Less: Cost of goods sold.... 185,475
c Gross profit or (loss) (attach schedule)..... Click to see attachment 98,536 98,536
11 Other income (attach schedule)....... Click to see attachment 62,950    
12 Total. Add lines 1 through 11........ 285,036 1,409 99,945
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 16,380      
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 2,000 2,000 2,000 2,000
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see page 14 of the instructions)        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications.......... 4,128   4,128 4,128
23 Other expenses (attach schedule)....... Click to see list of attachments 61,146   40,939 40,939
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 83,654 2,000 47,067 47,067
25 Contributions, gifts, grants paid........ 149,500 149,500
26 Total expenses and disbursements. Add lines 24 and 25 233,154 2,000 47,067 196,567
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 51,882
b Net investment income (if negative, enter -0-) 0
c Adjusted net income (if negative, enter -0-)... 52,878
For Privacy Act and Paperwork Reduction Act Notice, see page 30 of the instructions.
Cat. No. 11289X Form 990-PF (2011)
Form 990-PF (2011)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.)		 Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing............... 39,409 29,584  
2 Savings and temporary cash investments.......... 187,559 249,266  
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see page 15 of the
instructions)....................      
7 Other notes and loans receivable (attach schedule) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use...............      
9 Prepaid expenses and deferred charges...........      
10a Investments—U.S. and state government obligations (attach schedule)      
b Investments—corporate stock (attach schedule)........      
c Investments—corporate bonds (attach schedule)........      
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans..............      
13 Investments—other (attach schedule)...........      
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 226,968 278,850 0
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable...................    
19 Deferred revenue..................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe bullet)    
23 Total liabilities (add lines 17 through 22)..........   0
Net Assets or Fund Balances bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted....................    
25 Temporarily restricted................    
26 Permanently restricted................    
bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds.........    
28 Paid-in or capital surplus, or land, bldg., and equipment fund    
29 Retained earnings, accumulated income, endowment, or other funds 226,968 278,850
30 Total net assets or fund balances (see page 17 of the
instructions).................... 226,968 278,850
31 Total liabilities and net assets/fund balances (see page 17 of
the instructions).................. 226,968 278,850
Part III Analysis of Changes in Net Assets or Fund Balances
1 Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
with end-of-year figure reported on prior year’s return)............... 1 226,968
2 Enter amount from Part I, line 27a..................... 2 51,882
3 Other increases not included in line 2 (itemize) bullet 3  
4 Add lines 1, 2, and 3.......................... 4 278,850
5 Decreases not included in line 2 (itemize) bullet 5  
6 Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30. 6 278,850
Form 990-PF (2011)
Form 990-PF (2011)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.) 		(b) How acquired
P—Purchase
D—Donation 		(c) Date acquired
(mo., day, yr.) 		(d) Date sold
(mo., day, yr.)
1a
b
c
d
e
(e) Gross sales price (f) Depreciation allowed
(or allowable) 		(g) Cost or other basis
plus expense of sale 		(h) Gain or (loss)
(e) plus (f) minus (g)
a
b
c
d
e
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l) Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i) F.M.V. as of 12/31/69 (j) Adjusted basis
as of 12/31/69 		(k) Excess of col. (i)
over col. (j), if any
a
b
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2  
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see pages 13 and 17 of the instructions).
If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . 		Bracket 3  
Part V
Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income
(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.
Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period?
If “Yes,” the foundation does not qualify under section 4940(e). Do not complete this part.
1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a)
Base period years Calendar
year (or tax year beginning in) 		(b)
Adjusted qualifying distributions 		(c)
Net value of noncharitable-use assets 		(d)
Distribution ratio
(col. (b) divided by col. (c))
2010 162,957 228,410 0.71344
2009 159,281 186,822 0.85258
2008 152,861 159,987 0.95546
2007 143,302 160,173 0.89467
2006 120,669 154,490 0.78108
2 Total of line 1, column (d) ...................... 2 4.19723
3 Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by
the number of years the foundation has been in existence if less than 5 years. . . 		3 0.83945
4 Enter the net value of noncharitable-use assets for 2011 from Part X, line 5..... 4 249,115
5 Multiply line 4 by line 3....................... 5 209,119
6 Enter 1% of net investment income (1% of Part I, line 27b)........... 6  
7 Add lines 5 and 6......................... 7 209,119
8 Enter qualifying distributions from Part XII, line 4.............. 8 196,567
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See
the Part VI instructions on page 18.
Form 990-PF (2011)
Form 990-PF (2011)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)
1a Bulletand enter “N/A” on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 0
hereBulletand enter 1% of Part I, line 27b...................
c All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2  
3 Add lines 1 and 2............................ 3  
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-). 4  
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5  
6 Credits/Payments:
a 2011 estimated tax payments and 2010 overpayment credited to 2011 6a  
b Exempt foreign organizations—tax withheld at source....... 6b
c Tax paid with application for extension of time to file (Form 8868) 6c  
d Backup withholding erroneously withheld ........... 6d  
7 Total credits and payments. Add lines 6a through 6d.............. 7  
8 Enter any penalty for underpayment of estimated tax. if Form 2220 is attached. 8  
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10  
11 Enter the amount of line 10 to be: Credited to 2012 estimated taxBullet   Refunded Bullet 11  
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of
the instructions for definition)?............................
1b
 
No
If the answer is “Yes” to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$   (2) On foundation managers.bullet$  
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$  
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If “Yes,” attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If “Yes,” attach a conformed copy of the changes....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If “Yes,” has it filed a tax return on Form 990-T for this year?...................
4b
 
No
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If “Yes,” attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
  • By language in the governing instrument, or
  • By state legislation that effectively amends the governing instrument so that no mandatory directions
    • that conflict with the state law remain in the governing instrument?................
    6
    Yes
     
    7
    Did the foundation have at least $5,000 in assets at any time during the year? If “Yes,” complete Part II, col. (c), and Part XV.
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see page 19 of the
    instructions)bulletIA
    b
    If the answer is “Yes” to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
    General (or designate) of each state as required by General Instruction G? If “No,” attach explanation .
    8b
    Yes
     
    9
    Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
    or 4942(j)(5) for calendar year 2011 or the taxable year beginning in 2011 (see instructions for Part XIV on
    page 27)? If “Yes,” complete Part XIV..........................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If “Yes,” attach a schedule listing their names and addresses.
    10
     
    No
    11
    At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
    meaning of section 512(b)(13)? If "Yes," attach schedule. (see page 20 of the instructions) .......
    11
     
    No
    12
    Did the foundation acquire a direct or indirect interest in any applicable insurance contract before August 17, 2008?
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletwww.ifaa.org
    14
    The books are in care ofbulletSCOTT WILEY Telephone no.bullet (563) 320-6764
    Located atbullet914 SIXTH AVENUEDEWITTIA ZIP+4bullet52742
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041.........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ......bullet
    15  
    16
    At any time during calendar year 2011, did the foundation have an interest in or a signature or other authority over
    a bank, securities, or other financial account in a foreign country? .................
    16
     
    No
    See page 20 of the instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the foreign country bullet  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 5
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required
    File Form 4720 if any item is checked in the “Yes” column, unless an exception applies.
    Yes
    No
    1a
    During the year did the foundation (either directly or indirectly):
    (1) Engage in the sale or exchange, or leasing of property with a disqualified person?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?.........................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (5) Transfer any income or assets to a disqualified person (or make any of either available
    for the benefit or use of a disqualified person)?.................
    (6) Agree to pay money or property to a government official? (Exception. Check “No”
    if the foundation agreed to make a grant to or to employ the official for a period
    after termination of government service, if terminating within 90 days.).........
    b
    If any answer is “Yes” to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
    section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...
    1b
     
    No
    .........bullet
    c
    Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
    that were not corrected before the first day of the tax year beginning in 2011?.............
    1c
     
    No
    2
    Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
    operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
    a
    At the end of tax year 2011, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2011?...............
    If “Yes,” list the years bullet20, 20, 20, 20
    b
    Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
    (relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
    to all years listed, answer “No” and attach statement—see page 20 of the instructions.) .........
    2b
     
    No
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business
    enterprise at any time during the year?.....................
    b
    If “Yes,” did it have excess business holdings in 2011 as a result of (1) any purchase by the foundation
    or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
    by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
    the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
    if the foundation had excess business holdings in 2011.)....................
    3b
     
    No
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
    charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2011?
    4b
     
    No
    5a
    During the year did the foundation pay or incur any amount to:
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?...............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see page 22 of the instructions)...
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?........
    b
    If any answer is “Yes” to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
    Regulations section 53.4945 or in a current notice regarding disaster assistance (see page 22 of the instructions)?
    5b
     
    No
    .........bullet
    c
    If the answer is “Yes” to question 5a(4), does the foundation claim exemption from the
    tax because it maintained expenditure responsibility for the grant?............
    If “Yes,” attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay
    premiums on a personal benefit contract?....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....
    6b
     
    No
    If “Yes” to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
    No
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 6
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors
    1 List all officers, directors, trustees, foundation managers and their compensation (see page 22 of the instructions).
    (a) Name and address (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation
     (If not paid, enter
    -0-)     		(d) Contributions to
    employee benefit plans
    and deferred compensation     		(e) Expense account,
    other allowances
    GARY VANAERNAM Director
    0.00     		0    
    2810 28TH STREET
    EXIRA,IA50076
    STEPHEN WELDON Director
    0.00     		0    
    1440 NW 134TH AVE
    SLATER,IA50244
    LINDA WELDON Director
    0.00     		16,380    
    1440 NW 134TH AVE
    SLATER,IA50244
    MICHAEL PETZENHAUSER Director
    0.00     		0    
    62750 150TH ST
    ROLAND,IA50236
    CAT PENTON Director
    0.00     		0    
    1013 SE DELAWARE AVE
    ANKENY,IA50021
    HAROLD HODSON Director
    0.00     		0    
    3207 NE RENAISSANCE DR
    ANKENY,IA50021
    LINDSAY GREINER Director
    0.00     		0    
    2355 BIRCH AVE
    KEOTA,IA52248
    DICK DANIELSON Director
    0.00     		0    
    910 11TH AVE NORTH
    HUMBOLDT,IA50548
    ROB BOHNSACK Director
    0.00     		0    
    2063 VERMONT AVE
    WILTON,IA52778
    SCOTT WILEY Treasurer
    0.00     		0    
    PO BOX 183
    DONAHUE,IA52746
    DUSTIN FORD Secretary
    0.00     		0    
    1810 SILVER MAPLE TRAIL
    NORTH LIVERTY,IA52317
    JAY NELSON Vice President
    0.00     		0    
    14983 150TH ST
    PERRY,IA50220
    JACK BAIR President
    0.00     		0    
    4462 NE 150TH AVE
    ELKHART,IA50073
    2 Compensation of five highest-paid employees (other than those included on line 1—see page 23 of the instructions).
    If none, enter “NONE.”
    (a) Name and address of each employee paid more than $50,000 (b) Title, and average
    hours per week
    devoted to position     		(c) Compensation (d) Contributions to
    employee benefit
    plans and deferred
    compensation     		(e) Expense account,
    other allowances
    NONE
    Total number of other employees paid over $50,000...................bullet  
    3 Five highest-paid independent contractors for professional services (see page 23 of the instructions). If none, enter "NONE".
    (a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
    NONE
    Total number of others receiving over $50,000 for professional services.............bullet  
    Part IX-A
    Summary of Direct Charitable Activities
    List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
    1 SCHOLARSHIPS AND GRANTS (WHICH DO NOT HAVE SIGNIFICANT ONGOING INVOLVEMENT). 0
    2  
    3  
    4  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 7
    Part IX-B
    Summary of Program-Related Investments (see page 23 of the instructions)
    Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
    1  
    2  
    All other program-related investments. See page 24 of the instructions.
    3  
    Total. Add lines 1 through 3..........................bullet  
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
    see page 24 of the instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    0
    b
    Average of monthly cash balances.......................
    1b
    252,909
    c
    Fair market value of all other assets (see page 24 of the instructions)............
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    252,909
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
     
    3
    Subtract line 2 from line 1d.........................
    3
    252,909
    4
    Cash deemed held for charitable activities. Enter 1 1⁄2% of line 3 (for greater amount, see page 25
    of the instructions) ...........................
    4
    3,794
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    249,115
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    12,456
    Part XI
    Distributable Amount bullet and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    12,456
    2a
    Tax on investment income for 2011 from Part VI, line 5......
    2a
     
    b
    Income tax for 2011. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
     
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    12,456
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    12,456
    6
    Deduction from distributable amount (see page 25 of the instructions)...........
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,
    line 1................................
    7
    12,456
    Part XII
    Qualifying Distributions (see page 25 of the instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    196,567
    b
    Program-related investments—total from Part IX-B..................
    1b
     
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    196,567
    5
    Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment
    income. Enter 1% of Part I, line 27b (see page 26 of the instructions)............
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    196,567
    Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
    the section 4940(e) reduction of tax in those years.
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 8
    Part XIII
    Undistributed Income (see page 26 of the instructions)
    (a)
    Corpus     		(b)
    Years prior to 2010     		(c)
    2010     		(d)
    2011
    1 Distributable amount for 2011 from Part XI, line 7 12,456
    2 Undistributed income, if any, as of the end of 2011:
    a Enter amount for 2010 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2011:
    a From 2006....... 112,944
    b From 2007....... 135,293
    c From 2008....... 144,862
    d From 2009....... 149,940
    e From 2010....... 151,536
    fTotal of lines 3a through e......... 694,575
    4Qualifying distributions for 2011 from Part
    XII, line 4: bullet$ 196,567
    a Applied to 2010, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see page 26 of the instructions)    		  
    c Treated as distributions out of corpus (Election
    required—see page 26 of the instructions)...     		0
    d Applied to 2011 distributable amount..... 12,456
    e Remaining amount distributed out of corpus 184,111
    5 Excess distributions carryover applied to 2011.    
    (If an amount appears in column (d), the
    same amount must be shown in column (a).)
    6Enter the net total of each column as
    indicated below:
    a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 878,686
    b Prior years’ undistributed income. Subtract
    line 4b from line 2b ...........     		 
    c Enter the amount of prior years’ undistributed
    income for which a notice of deficiency has
    been issued, or on which the section 4942(a)
    tax has been previously assessed......     		 
    d Subtract line 6c from line 6b. Taxable
    amount—see page 27 of the instructions ...     		 
    e Undistributed income for 2010. Subtract line
    4a from line 2a. Taxable amount—see page 27
    of the instructions ...........     		 
    f Undistributed income for 2011. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2011 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (see page 27
    of the instructions) ...........     		 
    8Excess distributions carryover from 2006 not
    applied on line 5 or line 7 (see page 27 of the
    instructions) .............     		112,944
    9Excess distributions carryover to 2012.
    Subtract lines 7 and 8 from line 6a ......     		765,742
    10 Analysis of line 9:
    a Excess from 2007.... 135,293
    b Excess from 2008.... 144,862
    c Excess from 2009.... 149,940
    d Excess from 2010.... 151,536
    e Excess from 2011.... 184,111
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 9
    Part XIV
    Private Operating Foundations (see page 27 of the instructions and Part VII-A, question 9)
    1a If the foundation has received a ruling or determination letter that it is a private operating
    foundation, and the ruling is effective for 2011, enter the date of the ruling.......bullet
     
    b Check box to indicate whether the organization is a private operating foundation described in section or
    2a Enter the lesser of the adjusted net
    income from Part I or the minimum
    investment return from Part X for each
    year listed ..........     		Tax year Prior 3 years (e) Total
    (a) 2011 (b) 2010 (c) 2009 (d) 2008
             
    b 85% of line 2a .........          
    c Qualifying distributions from Part XII,
    line 4 for each year listed .....     		         
    d Amounts included in line 2c not used directly
    for active conduct of exempt activities ....     		         
    e Qualifying distributions made directly
    for active conduct of exempt activities.
    Subtract line 2d from line 2c ....     		         
    3 Complete 3a, b, or c for the
    alternative test relied upon:
    a “Assets” alternative test—enter:
    (1) Value of all assets ......          
    (2) Value of assets qualifying
    under section 4942(j)(3)(B)(i)    		          
    b “Endowment” alternative test— enter 2⁄3
    of minimum investment return shown in
    Part X, line 6 for each year listed...     		         
    c “Support” alternative test—enter:
    (1) Total support other than gross
    investment income (interest,
    dividends, rents, payments
    on securities loans (section
    512(a)(5)), or royalties) ....     		         
    (2) Support from general public
    and 5 or more exempt
    organizations as provided in
    section 4942(j)(3)(B)(iii)....     		         
    (3) Largest amount of support
    from an exempt organization    		          
    (4) Gross investment income          
    Part XV
    Supplementary Information (Complete this part only if the organization had $5,000 or more in
    assets at any time during the year—see page 27 of the instructions.)
    1Information Regarding Foundation Managers:
    aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
    before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
    bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
    ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    aThe name, address, and telephone number of the person to whom applications should be addressed:
    WINNER'S CIRCLE SCHOLARSHIP
    30805 595TH AVE
    CAMBRIDGE,IA50046
    (515) 383-4386
    bThe form in which applications should be submitted and information and materials they should include:
    APPLICATION FORM AVAILABLE FROM DR. HODSON OR ONLINE.
    cAny submission deadlines:
    JUNE 1
    dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
    factors:
    AWARDED TO RECIPIENTS WHO ARE PURSUING A COURSE OF STUDY RELATED TO THE ANIMAL INDUSTRY AT ANY TWO YEAR OR FOUR YEAR POST SECONDARY EDUCATIONAL INSTITUTION IN IOWA.
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 10
    Part XV
    Supplementary Information (continued)
    3 Grants and Contributions Paid During the Year or Approved for Future Payment
    Recipient If recipient is an individual,
    show any relationship to
    any foundation manager
    or substantial contributor
    		 Foundation
    status of
    recipient     		Purpose of grant or
    contribution     		Amount
    Name and address (home or business)
    aPaid during the year
    KYLE HUBER
    WELLMAN
    WELLMAN,IA52356     		NONE N/A AWARD 500
    MARC JOHNSON
    ALLISON
    ALLISON,IA50602     		NONE N/A AWARD 500
    WYATT ORR
    MEDIAPOLIS
    MEDIAPOLIS,IA52637     		NONE N/A AWARD 500
    HUNTER KINGSBURY
    INDIANOLA
    INDIANOLA,IA50125     		NONE N/A AWARD 1,000
    JAKE KEPPY
    DURANT
    DURANT,IA52747     		NONE N/A AWARD 500
    LAUREN HOUSKA
    SAC CITY
    SAC CITY,IA50583     		NONE N/A AWARD 200
    ZACK LEAR
    SPENCER
    SPENCER,IA51301     		NONE N/A AWARD 300
    CLAYTON ROBISON
    WINFIELD
    WINFIELD,IA52659     		NONE N/A AWARD 500
    AUSTIN LANE
    SPRAGUEVLLE
    SPRAGUEVLLE,IA52074     		NONE N/A AWARD 1,000
    ROSS LILIENTHAL
    DURANT
    DURANT,IA52747     		NONE N/A AWARD 1,500
    CHELSEA HEAD
    DERBY
    DERBY,IA50068     		NONE N/A AWARD 250
    GARRETT GOURLEY
    WEBSTER CITY
    WEBSTER CITY,IA50595     		NONE N/A AWARD 500
    CHELSEA NELSON
    EXIRA
    EXIRA,IA50076     		NONE N/A AWARD 1,000
    DUSTIE TIBBOOEL
    PLEASANTVILLE
    PLEASANTVILLE,IA50225     		NONE N/A AWARD 250
    MASON LEWIS
    MONROE
    MONROE,IA50170     		NONE N/A AWARD 500
    ERIN STEELE
    ANITA
    ANITA,IA50020     		NONE N/A AWARD 1,000
    CAITY JOHNSON
    WEBSTER CITY
    WEBSTER CITY,IA50595     		NONE N/A AWARD 250
    PAIGE EDWARDS
    MONROE
    MONROE,IA50170     		NONE N/A AWARD 500
    JESSICA FAUST
    DEXTER
    DEXTER,IA50070     		NONE N/A AWARD 500
    DANIEL COLLINS
    THORNBURG
    THORNBURG,IA50255     		NONE N/A AWARD 500
    JESSICA FAUST
    DEXTER
    DEXTER,IA50070     		NONE N/A AWARD 500
    JAKE KEPPY
    DURANT
    DURANT,IA52747     		NONE N/A AWARD 500
    LIZ EDGINGTON
    ST ANSGAR
    ST ANSGAR,IA50472     		NONE N/A AWARD 1,000
    BETH STEFFENSMEIER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 100
    SHANNON STEWART
    WAVERLY
    WAVERLY,IA50677     		NONE N/A AWARD 100
    BETH STEFFENSMEIER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 100
    NATHAN BREDEMEYER
    BONAPARTE
    BONAPARTE,IA52620     		NONE N/A AWARD 100
    BETH STEFFENSMEIER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 100
    REBECCA STEFFENSMEIER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 100
    NATHAN BREDEMEYER
    BONAPARTE
    BONAPARTE,IA52620     		NONE N/A AWARD 150
    LARAME BOYSEN
    CLOUMBUS JUNCTION
    CLOUMBUS JUNCTION,IA52738     		NONE N/A AWARD 250
    BETH STEFEFNSMEIER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 500
    KELLI STEFFENSMEIER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 1,000
    CONNOR DEBRUIN
    OSKALOOSA
    OSKALOOSA,IA52577     		NONE N/A AWARD 250
    BETH STEFFENSMEIER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 500
    LOGAN SIEREN
    KEOTA
    KEOTA,IA52248     		NONE N/A AWARD 400
    BETH STEFFENSMEIER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 600
    COLE MOELLER
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 500
    GRETCHEN LILIENTHAL
    NEW LIBERTY
    NEW LIBERTY,IA52765     		NONE N/A AWARD 1,000
    CLAIRE PETZENHAUSER
    ROLAND
    ROLAND,IA50236     		NONE N/A AWARD 500
    NATHAN KAUFMAN
    ANAMOSA
    ANAMOSA,IA52205     		NONE N/A AWARD 400
    JAKE KEPPY
    DURANT
    DURANT,IA52747     		NONE N/A AWARD 600
    KEATON LANE
    ELKADER
    ELKADER,IA52043     		NONE N/A AWARD 400
    AUSTIN LANE
    SPRAGUEVILLE
    SPRAGUEVILLE,IA52074     		NONE N/A AWARD 600
    CODY VANTIGER
    MEDIAPOLIS
    MEDIAPOLIS,IA52637     		NONE N/A AWARD 500
    HUNTER KINGSBURY
    INDIANOLA
    INDIANOLA,IA50125     		NONE N/A AWARD 1,000
    MORGAN BRINNING
    KEOTA
    KEOTA,IA52248     		NONE N/A AWARD 500
    KALE BOYSEN
    MORNING SUN
    MORNING SUN,IA52640     		NONE N/A AWARD 1,000
    NICK BANGERT
    BLUE GRASS
    BLUE GRASS,IA52726     		NONE N/A AWARD 500
    LOGAN SIEREN
    KEOTA
    KEOTA,IA52248     		NONE N/A AWARD 1,000
    JAKE KEPPY
    DURANT
    DURANT,IA52747     		NONE N/A AWARD 1,000
    TRISTEN RUPPERT
    MALLARD
    MALLARD,IA50562     		NONE N/A AWARD 500
    NICHOLAS SULLIVAN
    DUNLAP
    DUNLAP,IA51529     		NONE N/A AWARD 1,000
    NICHOLAS SULLIVAN
    DUNLAP
    DUNLAP,IA51529     		NONE N/A AWARD 1,500
    CASSANDRA GRADERT
    SIBLEY
    SIBLEY,IA51249     		NONE N/A AWARD 500
    ASHLEY VOGEL
    HARTLEY
    HARTLEY,IA51346     		NONE N/A AWARD 1,000
    CHRIS SIEVERS
    ALBERT CITY
    ALBERT CITY,IA50510     		NONE N/A SCHOLARSHIP 500
    HEIDI REYNOLDS
    ROCKWELL CITY
    ROCKWELL CITY,IA50579     		NONE N/A SCHOLARSHIP 500
    SARA MORINE
    LAMONT
    LAMONT,IA50650     		NONE N/A SCHOLARSHIP 500
    AMANDA HOUGE
    LAS VEGAS
    LAS VEGAS,NV89044     		NONE N/A SCHOLARSHIP 500
    ANDREW FILITI
    DAZEY
    DAZEY,NE58429     		NONE N/A SCHOLARSHIP 500
    SANDY DION
    COLUMBUS JUNCTION
    COLUMBUS JUNCTION,IA52738     		NONE N/A SCHOLARSHIP 500
    CHELSEY BRANDERHORST
    PRAIRIE CITY
    PRAIRIE CITY,IA50228     		NONE N/A SCHOLARSHIP 500
    DAWEYN ALBERTSEN
    TOLEDO
    TOLEDO,IA52342     		NONE N/A SCHOLARSHIP 500
    ADAM CARROTHERS
    CAMBRIDGE
    CAMBRIDGE,IA50046     		NONE N/A SCHOLARSHIP 500
    KYLE DICE
    AVILLA
    AVILLA,IN46710     		NONE N/A SCHOLARSHIP 500
    MATTHEW PEMBERTON
    WASHINGTON
    WASHINGTON,IA52353     		NONE N/A SCHOLARSHIP 500
    BRANDON LEDGER
    STOCKPORT
    STOCKPORT,IA52651     		NONE N/A SCHOLARSHIP 500
    AMANDA VON FORELL
    WHEATLAND
    WHEATLAND,WY82201     		NONE N/A SCHOLARSHIP 500
    BRADY MCNEIL
    GRAND MOUND
    GRAND MOUND,IA52751     		NONE N/A SCHOLARSHIP 500
    JACLYN AMISS
    CLAYPOOL
    CLAYPOOL,IN46510     		NONE N/A SCHOLARSHIP 500
    COLE DANNER
    MUSCATINE
    MUSCATINE,IA52761     		NONE N/A SCHOLARSHIP 500
    LOGAN WORDEN
    OELWEIN
    OELWEIN,IA50662     		NONE N/A SCHOLARSHIP 1,000
    JESICA VANDE VORDE
    AURORA
    AURORA,IA50607     		NONE N/A SCHOLARSHIP 1,000
    KYLE LARSEN
    CLARE
    CLARE,IA50524     		NONE N/A SCHOLARSHIP 1,000
    SARAH DOESE
    FAIRBANK
    FAIRBANK,IA50629     		NONE N/A SCHOLARSHIP 1,000
    COURTNEY BURR
    LONE TREE
    LONE TREE,IA52755     		NONE N/A SCHOLARSHIP 1,000
    BRITTANY BAKER
    OSAGE
    OSAGE,IA50461     		NONE N/A SCHOLARSHIP 1,000
    KEVIN ANDERSON
    GILBERT
    GILBERT,IA50105     		NONE N/A SCHOLARSHIP 1,000
    AMY TURNER
    KNOXVILLE
    KNOXVILLE,IA50138     		NONE N/A SCHOLARSHIP 1,000
    BRIAR TENOLD
    NORTHWOOD
    NORTHWOOD,IA50459     		NONE N/A SCHOLARSHIP 1,000
    ERIN STEELE
    ANITA
    ANITA,IA50020     		NONE N/A SCHOLARSHIP 1,000
    EMILY SIMON
    FARLEY
    FARLEY,IA52046     		NONE N/A SCHOLARSHIP 1,000
    KATELYN SAMUELSON
    LA PORTE
    LA PORTE,IA50651     		NONE N/A SCHOLARSHIP 1,000
    JOSHUA PETERSEN
    KNOXVILLE
    KNOXVILLE,IA50138     		NONE N/A SCHOLARSHIP 1,000
    JADE MORET
    SIOUX CENTER
    SIOUX CENTER,IA51250     		NONE N/A SCHOLARSHIP 1,000
    JAY MCCOSKEY
    JEWELL
    JEWELL,IA50130     		NONE N/A SCHOLARSHIP 1,000
    EMILY KETELSEN
    DE WITT
    DE WITT,IA52742     		NONE N/A SCHOLARSHIP 1,000
    KYLE HUBER
    WELLMAN
    WELLMAN,IA52356     		NONE N/A SCHOLARSHIP 1,000
    MCKENZIE HANNA MARKEN
    CLEAR LAKE
    CLEAR LAKE,IA50428     		NONE N/A SCHOLARSHIP 1,000
    AMANDA GREINER
    SILVER CITY
    SILVER CITY,IA51571     		NONE N/A SCHOLARSHIP 1,000
    COLE GREINER
    GARNER
    GARNER,IA50438     		NONE N/A SCHOLARSHIP 1,000
    PATRICK FRANK
    KEOTA
    KEOTA,IA52248     		NONE N/A SCHOLARSHIP 1,000
    AUSTIN EHLERS
    STORM LAKE
    STORM LAKE,IA50588     		NONE N/A SCHOLARSHIP 1,000
    ELIZA DRISKILL
    AFTON
    AFTON,IA50830     		NONE N/A SCHOLARSHIP 1,000
    ETHAN CONRAD
    OTTUMWA
    OTTUMWA,IA52501     		NONE N/A SCHOLARSHIP 1,000
    MICHAEL BURT
    MARSHALLTOWN
    MARSHALLTOWN,IA50158     		NONE N/A SCHOLARSHIP 1,000
    MICHAEL BAHL
    DUBUQUE
    DUBUQUE,IA52001     		NONE N/A SCHOLARSHIP 1,000
    BENJAMIN ZELLE
    WAVERLY
    WAVERLY,IA50677     		NONE N/A SCHOLARSHIP 500
    CALVIN MCBRIDE
    TODDVILLE
    TODDVILLE,IA52341     		NONE N/A SCHOLARSHIP 500
    TANNER BERRY
    SAC CITY
    SAC CITY,IA50583     		NONE N/A SCHOLARSHIP 500
    CECIL KNAPP
    BLOOMFIELD
    BLOOMFIELD,IA52537     		NONE N/A SCHOLARSHIP 500
    LAUREN BORKOWSKI
    IRWIN
    IRWIN,IA51446     		NONE N/A SCHOLARSHIP 1,000
    CHELSEA NELSON
    EXIRA
    EXIRA,IA50076     		NONE N/A SCHOLARSHIP 1,000
    ALECIA MOSER
    GARDEN GROVE
    GARDEN GROVE,IA50103     		NONE N/A SCHOLARSHIP 1,500
    SANDRA DION
    COLUMBUS JUNCTION
    COLUMBUS JUNCTION,IA52738     		NONE N/A SCHOLARSHIP 1,000
    MEGAN KLEVE
    DUNDEE
    DUNDEE,IA52038     		NONE N/A SCHOLARSHIP 1,000
    ANNA MOENK
    MONTICELLO
    MONTICELLO,IA52310     		NONE N/A SCHOLARSHIP 1,000
    SALLEY WEETS
    MECHANICSVILLE
    MECHANICSVILLE,IA52306     		NONE N/A SCHOLARSHIP 1,000
    TANNER MCARTOR
    MOUNT PLEASANT
    MOUNT PLEASANT,IA52641     		NONE N/A SCHOLARSHIP 1,000
    CHELSEY BRANDERHORST
    PRAIRIE CITY
    PRAIRIE CITY,IA50228     		NONE N/A SCHOLARSHIP 1,000
    BETH PLEGGENKUHLE
    WAUCOMA
    WAUCOMA,IA52171     		NONE N/A SCHOLARSHIP 1,000
    BRADY MCNEIL
    GRAND MOUND
    GRAND MOUND,IA52751     		NONE N/A SCHOLARSHIP 1,000
    TAYLOR ASSMANN
    PANAMA
    PANAMA,IA51562     		NONE N/A SCHOLARSHIP 500
    AMBER BROULIK
    LISBON
    LISBON,IA52253     		NONE N/A SCHOLARSHIP 1,000
    KYLE RUTH
    IOWA CITY
    IOWA CITY,IA52240     		NONE N/A SCHOLARSHIP 1,000
    AUDREY WAGNER
    TIPTON
    TIPTON,IA52772     		NONE N/A SCHOLARSHIP 1,000
    MAXWELL CHERRY
    WINTHROP
    WINTHROP,IA50682     		NONE N/A SCHOLARSHIP 1,000
    COLE DANNER
    MUSCATINE
    MUSCATINE,IA52761     		NONE N/A SCHOLARSHIP 1,000
    BLAKE BAYLISS
    KEOTA
    KEOTA,IA52248     		NONE N/A SCHOLARSHIP 1,000
    TREY SCHNEIDER
    LACONA
    LACONA,IA50139     		NONE N/A SCHOLARSHIP 1,000
    BRITTANY JURGEMEYER
    ROCKWELL
    ROCKWELL,IA50469     		NONE N/A SCHOLARSHIP 1,500
    ROSS LILIENTHAL
    DURANT
    DURANT,IA52747     		NONE N/A SCHOLARSHIP 1,500
    DAWEYN ALBERTSEN
    TOLEDO
    TOLEDO,IA52342     		NONE N/A SCHOLARSHIP 1,500
    MATHEW ROMOSER
    KEOTA
    KEOTA,IA52248     		NONE N/A SCHOLARSHIP 1,500
    WILLIAM SHAMUS BROWN III
    GRAETTINGER
    GRAETTINGER,IA51342     		NONE N/A SCHOLARSHIP 1,500
    COLLIN FRANTUM
    PANORA
    PANORA,IA50216     		NONE N/A SCHOLARSHIP 2,000
    BRETT TIMMINS
    ALTOONA
    ALTOONA,IA50009     		NONE N/A SCHOLARSHIP 2,000
    DAN HARMSEN
    ROCK VALLEY
    ROCK VALLEY,IA51247     		NONE N/A SCHOLARSHIP 2,000
    TARA GRAY
    TOLEDO
    TOLEDO,IA52342     		NONE N/A SCHOLARSHIP 2,000
    LAUREN BARKER
    MONTICELLO
    MONTICELLO,IA52310     		NONE N/A SCHOLARSHIP 2,000
    ABBEY SMITH
    ADEL
    ADEL,IA50003     		NONE N/A SCHOLARSHIP 2,000
    KEVIN BERKLAND
    SIBLEY
    SIBLEY,IA51249     		NONE N/A SCHOLARSHIP 2,000
    ZACHERY GREIMAN
    GARNER
    GARNER,IA50438     		NONE N/A SCHOLARSHIP 2,000
    ERICH HODGES
    AMES
    AMES,IA50010     		NONE N/A SCHOLARSHIP 4,000
    TY SEXTON
    AINSWORTH
    AINSWORTH,IA52201     		NONE N/A SCHOLARSHIP 3,000
    AUSTIN LANE
    SPRAGUEVILLE
    SPRAGUEVILLE,IA52074     		NONE N/A SCHOLARSHIP 5,000
    SARA MORINE
    LAMONT
    LAMONT,IA50650     		NONE N/A SCHOLARSHIP 5,000
    COLIN HURD
    ROLAND
    ROLAND,IA50236     		NONE N/A SCHOLARSHIP 5,500
    SCOTT HENRY
    NEVADA
    NEVADA,IA50201     		NONE N/A SCHOLARSHIP 5,500
    ADAIR BOYSEN
    COLUMBUS JUNCTION
    COLUMBUS JUNCTION,IA52738     		NONE N/A SCHOLARSHIP 5,500
    DAKOTA HOBEN
    WAPELLO
    WAPELLO,IA52653     		NONE N/A SCHOLARSHIP 5,500
    Total .................................bullet 3a 149,500
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 11
    Part XVI-A
    Analysis of Income-Producing Activities
    Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
    Related or exempt
    function income
    (See page 28 of
    the instructions.)
    1Program service revenue: (a)
    Business code     		(b)
    Amount     		(c)
    Exclusion code     		(d)
    Amount
    a
    b
    c
    d
    e
    f
    gFees and contracts from government agencies          
    2 Membership dues and assessments....          
    3Interest on savings and temporary cash investments     14 1,409  
    4 Dividends and interest from securities....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6Net rental income or (loss) from personal property          
    7 Other investment income.....          
    8Gain or (loss) from sales of assets other than inventory          
    9 Net income or (loss) from special events:     1 35,243  
    10 Gross profit or (loss) from sales of inventory..         98,536
    11 Other revenue: aMEMBERSHIP DUES         7,500
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   36,652 106,036
    13Total. Add line 12, columns (b), (d), and (e)..................
    13142,688
    (See worksheet in line 13 instructions on page 28 to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to
    the accomplishment of the organization’s exempt purposes (other than by providing funds for such purposes). (See
    page 28 of the instructions.)
    10 SEE ATTACHED STATEMENT
    Form 990-PF (2011)
    Form 990-PF (2011)
    Page 12
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    Did the organization directly or indirectly engage in any of the following with any other organization described in section
    Yes
    No
    501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    If the answer to any of the above is “Yes,” complete the following schedule. Column (b) should always show the fair market value
    of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
    in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
    (a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
    2a
    Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
    described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........
    b
    If “Yes,” complete the following schedule.
    (a) Name of organization (b) Type of organization (c) Description of relationship
    SignHere
    Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    Signature of officer or trustee Date Title
    PaidPreparersUseOnly Preparer's SignatureBullet Date PTIN
    Firm's namebullet



    Firm's addressbullet







         		Firm's EINbullet
    Phone no.
    Form 990-PF (2011)
    Additional Data


    Software ID: 11000144
    Software Version: 2011v1.2


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors
    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    OMB No. 1545-0047
    2011
    Name of organization
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT
    Employer identification number

    42-1183067
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ





    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......................... Arrow Bullet   $    
    Caution. An Organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on Part I, line 2, of its Form 990-PF, to certify that it does not meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 2
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT         		Employer identification number

    42-1183067
    Part I
    Contributors (see Instructions). Use duplicate copies of Part I if additional space is needed.
    		     
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
     
     

    RASTETTER FOUNDATION - BRUCE    
    10640 COUNTY HWY D20
       
    ALDEN, IA   50006

    		$38,500




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
     
     

    IOWA SELECT FARMS    
    P O BOX 400
       
    IOWA FALLS, IA   50126

    		$10,000




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     

         
     
       

    		$  




    (Complete Part II if there is a noncash contribution.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 3
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT         		Employer identification number

    42-1183067
    Part II
    Noncash Property (see Instructions). Use duplicate copies of Part II if additional space is needed.
    		     
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    (a) No.
    from
    Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (see instructions).     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Page 4
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)
    Name of organization
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT         		Employer identification number

    42-1183067
    Part III
    Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
    that total more than $1,000 for the year. Complete columns (a) through (e) and the following line entry.
    For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
    contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet $  
    Use duplicate copies of Part III if additional space is needed
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    (a) No.
    from
    Part I    		 (b)
    Purpose of gift    		 (c)
    Use of gift    		 (d)
    Description of how gift is held
     
    (e)
    Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
           
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2011)

    Additional Data


    Software ID: 11000144
    Software Version: 2011v1.2

    TY 2011 AccountingFeesSchedule
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT
    EIN: 42-1183067
    Software ID:11000144
    Software Version:2011v1.2
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING 2,000 2,000 2,000 2,000

    TY 2011 OtherExpensesSchedule
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT
    EIN: 42-1183067
    Software ID:11000144
    Software Version:2011v1.2
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    STATE FAIR TICKETS 2,606   2,606 2,606
    Special Event Expenses 20,207      
    Rental Expenses 2,862   2,862 2,862
    POSTAGE 2,955   2,955 2,955
    PHOTOGRAPHY AND BANNERS 1,633   1,633 1,633
    OTHER 13,962   13,962 13,962
    OFFICE SUPPLIES 3,955   3,955 3,955
    MEALS & HOTEL 7,689   7,689 7,689
    MARKETING 1,998   1,998 1,998
    CONTRIBUTIONS 1,050   1,050 1,050
    BANK FEES 88   88 88
    AWARDS & PLAQUES 2,141   2,141 2,141


    TY 2011 OtherIncomeSchedule2
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT
    EIN: 42-1183067
    Software ID:11000144
    Software Version:2011v1.2
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    MEMBERSHIP DUES 7,500    
    Income From Special Events 55,450    


    TY 2011 SalesOfInventoryList 
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT
    EIN: 42-1183067
    Software ID:11000144
    Software Version:2011v1.2

    Category Gross Sales Cost of Goods Sold Net (Gross Sales Minus
    Cost of Goods Sold)
    SALE OF CHAMPIONS PROCEEDS 284,011 185,475 98,536