Form990-PF
Click to see attachment

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletInformation about Form 990-PF and its instructions is at www.irs.gov/form990pf.
OMB No. 1545-0052
2015
Open to Public Inspection
For calendar year 2015, or tax year beginning 01-01-2015 , and ending 12-31-2015
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
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
SLATER, IA50244
A Employer identification number

42-1183067
B Telephone number (see instructions)

(515) 290-6999
C bullet
G Check all that apply:

D 1. bullet
2. bullet
E bullet
H Check type of organization:
F 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.)
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 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) 164,701
2 Check bullet Sch. B .............
3 Interest on savings and temporary cash investments 3,700 3,700 3,700
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 340,270
b Less: Cost of goods sold.... 255,950
c Gross profit or (loss) (attach schedule)..... Click to see attachment 84,320 84,320
11 Other income (attach schedule)....... Click to see attachment 61,666   53,216
12 Total. Add lines 1 through 11........ 314,387 3,700 141,236
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 18,443   18,443  
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 5,424 1,000 4,424  
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)...        
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 1,104   1,104  
22 Printing and publications.......... 1,125   1,125  
23 Other expenses (attach schedule)....... Click to see list of attachments 68,899   68,899  
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 94,995 1,000 93,995 0
25 Contributions, gifts, grants paid....... 213,150 213,150
26 Total expenses and disbursements. Add lines 24 and 25 308,145 1,000 93,995 213,150
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 6,242
b Net investment income (if negative, enter -0-) 2,700
c Adjusted net income (if negative, enter -0-)... 47,241
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2015)
Form 990-PF (2015)
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............. 9,576 25,792  
2 Savings and temporary cash investments......... 103,002 118,500  
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 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)....... 187,905 158,843  
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) 300,483 303,135 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 300,483 303,135
30 Total net assets or fund balances (see instructions)..... 300,483 303,135
31 Total liabilities and net assets/fund balances (see instructions). 300,483 303,135
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
300,483
2
Enter amount from Part I, line 27a .....................
2
6,242
3
Other increases not included in line 2 (itemize) bullet
3
 
4
Add lines 1, 2, and 3 ..........................
4
306,725
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
3,590
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
303,135
Form 990-PF (2015)
Form 990-PF (2015)
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 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 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))
2014 210,950 365,851 0.57660
2013 173,700 349,347 0.49721
2012 257,547 305,320 0.84353
2011 196,567 249,115 0.78906
2010 162,957 228,410 0.71344
2
Total of line 1, column (d) .....................
23.419847
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
0.683969
4
Enter the net value of noncharitable-use assets for 2015 from Part X, line 5.....
4
369,878
5
Multiply line 4 by line 3......................
5
252,985
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
27
7
Add lines 5 and 6........................
7
253,012
8
Enter qualifying distributions from Part XII, line 4.............
8
213,150
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.
Form 990-PF (2015)
Form 990-PF (2015)
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 Bullet and enter “N/A" on line 1. Bracket
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b 1 54
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 54
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 54
6 Credits/Payments:
a 2015 estimated tax payments and 2014 overpayment credited to 2015 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 54
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 2015 estimated taxBullet   RefundedBullet 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 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 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 2015 or the taxable year beginning in 2015 (see instructions for Part XIV)?
    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
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    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 instructions) .............
    11
     
    No
    12
    Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
    advisory privileges? If "Yes," attach statement (see instructions).................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletSTEVE WELDON Telephone no.bullet (515) 290-6999

    Located atbullet1440 NW 134TH AVENUESLATERIA ZIP+4bullet50244
    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 2015, did the foundation have an interest in or a signature or other authority over YesNo
    a bank, securities, or other financial account in a foreign country?
    16   No
    See instructions for exceptions and filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR). If "Yes", enter the name of the foreign country bullet  
    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 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 2015?.............
    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 2015, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2015?.............
    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 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 2015 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 2015.)..................
    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 2015?
    4b
     
    No
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (Continued)
    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 4945(d)(4)(A)? (see 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 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 (2015)
    Form 990-PF (2015)
    Page 7
    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 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
    JACK BAIR President
    2.00     		0    
    4462 NE 150TH AVE
    ELKHART,IA50073
    STEPHEN WELDON Treasurer
    4.00     		0    
    1440 NW 134TH AVE
    SLATER,IA50244
    ROB BOHNSACK Director
    2.00     		0    
    2063 VERMONT AVE
    WILTON,IA52778
    DICK DANIELSON Director
    2.00     		0    
    910 11TH AVE NORTH
    HUMBOLDT,IA50548
    ISAIAH SPATH Secretary
    2.00     		0    
    1120 110TH STREET
    HAMPTON,IA50441
    HAROLD HODSON Director
    4.00     		0    
    3207 NE RENAISSANCE DR
    ANKENY,IA50021
    TAYLOR SWEENEY Director
    3.00     		0    
    2103 COUNTRY CLUB BLVD
    AMES,IA50014
    LINDA WELDON Director
    20.00     		18,443    
    1440 NW 134TH AVE
    SLATER,IA50244
    CAT WOOD Director
    2.00     		0    
    1013 SE DELAWARE AVE
    ANKENY,IA50021
    GARY VANAERNAM Director
    1.00     		0    
    2810 280TH STREET
    EXIRA,IA50076
    BOB HOLST Director
    2.00     		0    
    4206 92ND CT
    URBANDALE,IA50322
    TIM MESSENGER Director
    2.00     		0    
    3190 240TH ST
    AINSWORTH,IA52201
    TAYLOR SCHMINKE Director
    2.00     		0    
    6641 24TH AVE
    VAN HORNE,IA52346
    2 Compensation of five highest-paid employees (other than those included on line 1—see 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 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  
    Part IX-B
    Summary of Program-Related Investments (see 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 instructions.
    3  
    Total. Add lines 1 through 3.........................bullet  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see 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
    375,511
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    375,511
    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
    375,511
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    5,633
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    369,878
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    18,494
    Part XI
    Distributable Amount bullet
    1
    Minimum investment return from Part X, line 6....................
    1
    18,494
    2a
    Tax on investment income for 2015 from Part VI, line 5......
    2a
    54
    b
    Income tax for 2015. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    54
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    18,440
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    18,440
    6
    Deduction from distributable amount (see instructions).................
    6
     
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    18,440
    Part XII
    Qualifying Distributions (see 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
    213,150
    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
    213,150
    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 instructions).................
    5
     
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    213,150
    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 (2015)
    Form 990-PF (2015)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2014     		(c)
    2014     		(d)
    2015
    1 Distributable amount for 2015 from Part XI, line 7 18,440
    2 Undistributed income, if any, as of the end of 2015:
    a Enter amount for 2014 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2015:
    a From 2010...... 151,536
    b From 2011...... 184,111
    c From 2012...... 242,303
    d From 2013...... 156,256
    e From 2014...... 192,671
    fTotal of lines 3a through e........ 926,877
    4Qualifying distributions for 2015 from Part
    XII, line 4: bullet$ 213,150
    a Applied to 2014, but not more than line 2a  
    b Applied to undistributed income of prior years
    (Election required—see instructions).....     		 
    c Treated as distributions out of corpus (Election
    required—see instructions)........     		0
    d Applied to 2015 distributable amount..... 18,440
    e Remaining amount distributed out of corpus 194,710
    5 Excess distributions carryover applied to 2015.    
    (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 1,121,587
    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 instructions ...........     		 
    e Undistributed income for 2014. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2016. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2015 ..........     		0
    7 Amounts treated as distributions out of
    corpus to satisfy requirements imposed by
    section 170(b)(1)(F) or 4942(g)(3) (Election may
    be required - see instructions) .......     		 
    8Excess distributions carryover from 2010 not
    applied on line 5 or line 7 (see instructions) ...     		151,536
    9Excess distributions carryover to 2016.
    Subtract lines 7 and 8 from line 6a ......     		970,051
    10 Analysis of line 9:
    a Excess from 2011.... 184,111
    b Excess from 2012.... 242,303
    c Excess from 2013.... 156,256
    d Excess from 2014.... 192,671
    e Excess from 2015.... 194,710
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 10
    Part XIV
    Private Operating Foundations (see 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 2015, 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) 2015 (b) 2014 (c) 2013 (d) 2012
             
    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 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 or e-mail address 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 (2015)
    Form 990-PF (2015)
    Page 11
    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
    DREW MOGLER
    ALVORD
    ALVORD,IA51230     		NONE N/A SCHOLARSHIP 10,000
    JENNA LANSING
    WORTHINGTON
    WORTHINGTON,IA52078     		NONE N/A SCHOLARSHIP 6,250
    MORGAN PITTZ
    MINERAL POINT
    MINERAL POINT,WI53565     		NONE N/A SCHOLARSHIP 6,250
    BREANNA BRANDERHORST
    PRAIRIE CITY
    PRAIRIE CITY,IA50228     		NONE N/A SCHOLARSHIP 6,250
    MATTHEW KERNS
    CLEARFIELD
    CLEARFIELD,IA50840     		NONE N/A SCHOLARSHIP 6,000
    MACY MAREK
    RIVERSIDE
    RIVERSIDE,IA52327     		NONE N/A SCHOLARSHIP 6,000
    JUSTIN BAHR
    IOWA FALLS
    IOWA FALLS,IA50126     		NONE N/A SCHOLARSHIP 5,000
    MELISSA KROKSH
    AKRON
    AKRON,IA51001     		NONE N/A SCHOLARSHIP 5,000
    ALEXANDRA FERGUSON
    NEW SHARON
    NEW SHARON,IA50207     		NONE N/A SCHOLARSHIP 5,000
    MITCHELL HORA
    AINSWORTH
    AINSWORTH,IA52201     		NONE N/A SCHOLARSHIP 5,000
    KAYLIN BURR
    LONE TREE
    LONE TREE,IA52755     		NONE N/A SCHOLARSHIP 3,000
    LORI DVORAK
    BONDURANT
    BONDURANT,IA50035     		NONE N/A SCHOLARSHIP 3,000
    SHAYNE WIESE
    MANNING
    MANNING,IA51455     		NONE N/A SCHOLARSHIP 3,000
    MEGAN COLLISON
    ROCKWELL CITY
    ROCKWELL CITY,IA50579     		NONE N/A SCHOLARSHIP 2,500
    ERICA BAIER
    ADEL
    ADEL,IA50003     		NONE N/A SCHOLARSHIP 2,500
    CELENE SLIFKA
    STATE CENTER
    STATE CENTER,IA50247     		NONE N/A SCHOLARSHIP 2,000
    AUBREE BEENKEN
    BUCKINGHAM
    BUCKINGHAM,IA50612     		NONE N/A SCHOLARSHIP 2,000
    MATTHEW SCHULTE
    DORCHESTER
    DORCHESTER,IA52140     		NONE N/A SCHOLARSHIP 2,000
    KENNEDY CORE
    PLEASANTVILLE
    PLEASANTVILLE,IA50225     		NONE N/A SCHOLARSHIP 2,000
    MAGGIE FERGUSON
    NEW SHARON
    NEW SHARON,IA50207     		NONE N/A SCHOLARSHIP 2,000
    JENNY PETERSEN
    KNOXVILLE
    KNOXVILLE,IA50138     		NONE N/A SCHOLARSHIP 2,000
    SHELTON HATCH
    GLADBROOK
    GLADBROOK,IA50635     		NONE N/A SCHOLARSHIP 2,000
    MITCH HOLCOMB
    WINTERSET
    WINTERSET,IA50273     		NONE N/A SCHOLARSHIP 2,000
    KATELYN WARIN
    MALOY
    MALOY,IA50860     		NONE N/A SCHOLARSHIP 2,000
    SPENCER PECH
    WINTHROP
    WINTHROP,IA50682     		NONE N/A SCHOLARSHIP 2,000
    WESLEY REEVER
    GLIDDEN
    GLIDDEN,IA51443     		NONE N/A SCHOLARSHIP 2,000
    HEATHER SCHNITKER
    ALDEN
    ALDEN,IA50006     		NONE N/A SCHOLARSHIP 2,000
    BROOKE SIEREN
    KEOTA
    KEOTA,IA52248     		NONE N/A SCHOLARSHIP 2,000
    CALI WESTERGARD
    IRETON
    IRETON,IA51027     		NONE N/A SCHOLARSHIP 2,000
    KACI KEITZER
    MEDIAPOLIS
    MEDIAPOLIS,IA52637     		NONE N/A SCHOLARSHIP 1,500
    CELESTE SWANSON
    GALT
    GALT,IA50101     		NONE N/A SCHOLARSHIP 1,500
    ALEX CONOVER
    HOLSTEIN
    HOLSTEIN,IA51025     		NONE N/A SCHOLARSHIP 1,500
    TYLER TRIGGS
    MOUNT AYR
    MOUNT AYR,IA50854     		NONE N/A SCHOLARSHIP 1,500
    KATLYN KAHLER
    CAMBRIDGE
    CAMBRIDGE,IA50046     		NONE N/A SCHOLARSHIP 1,500
    ALLISON LUETY
    CLINTON
    CLINTON,WI53525     		NONE N/A SCHOLARSHIP 1,000
    COLTON TWINAM
    CRAWFORDSVILLE
    CRAWFORDSVILLE,IA52621     		NONE N/A SCHOLARSHIP 1,000
    JOSIE BURGETT
    PLEASANTVILLE
    PLEASANTVILLE,IA50225     		NONE N/A SCHOLARSHIP 1,000
    LEXI MAREK
    RIVERSIDE
    RIVERSIDE,IA52327     		NONE N/A SCHOLARSHIP 1,000
    DREW CHRISTENSEN
    EXIRA
    EXIRA,IA50076     		NONE N/A SCHOLARSHIP 1,500
    KELSEY PRETZ
    COLUMBUS JUNCTION
    COLUMBUS JUNCTION,IA52738     		NONE N/A SCHOLARSHIP 1,500
    RALEE KRUSE
    RUDD
    RUDD,IA50471     		NONE N/A SCHOLARSHIP 1,000
    BAILEY CORE
    PLEASANTVILLE
    PLEASANTVILLE,IA50225     		NONE N/A SCHOLARSHIP 1,000
    RONI KRUSE
    RUDD
    RUDD,IA50471     		NONE N/A SCHOLARSHIP 1,000
    LOGAN LAFRENZ
    WILTON
    WILTON,IA52778     		NONE N/A SCHOLARSHIP 1,000
    JAMIE FLYLNN
    STATE CENTER
    STATE CENTER,IA50247     		NONE N/A SCHOLARSHIP 1,000
    CHRISTIAN GRAHAM
    GRINNELL
    GRINNELL,IA50112     		NONE N/A SCHOLARSHIP 1,000
    TRUMAN CHAMNESS
    BLAIRSBURG
    BLAIRSBURG,IA50034     		NONE N/A SCHOLARSHIP 500
    TREVOR STEVENSON
    WHEATLAND
    WHEATLAND,IA52777     		NONE N/A SCHOLARSHIP 1,000
    KAYLA TOENNIES
    CHELSEA
    CHELSEA,IA52215     		NONE N/A SCHOLARSHIP 1,000
    CARL FRAME
    OSSEO
    OSSEO,WI54758     		NONE N/A SCHOLARSHIP 1,000
    TARA GRAY-LEYTHAM
    TOLEDO
    TOLEDO,IA52342     		NONE N/A SCHOLARSHIP 1,000
    BRODY PROESCH
    CLARENCE
    CLARENCE,IA52216     		NONE N/A SCHOLARSHIP 1,000
    HAILEY BURLEY
    LAKE CITY
    LAKE CITY,IA51449     		NONE N/A SCHOLARSHIP 1,000
    MATT HEILLER
    MADRID
    MADRID,IA50156     		NONE N/A SCHOLARSHIP 1,000
    DAVID TURNIS
    BERNARD
    BERNARD,IA52032     		NONE N/A SCHOLARSHIP 1,000
    NICOLE HUSER
    SAC CITY
    SAC CITY,IA50583     		NONE N/A SCHOLARSHIP 1,000
    KATHERINE HAMILTON
    CEDAR RAPIDS
    CEDAR RAPIDS,IA52405     		NONE N/A SCHOLARSHIP 1,000
    MADALYN BOEHM
    ELGIN
    ELGIN,IA52141     		NONE N/A SCHOLARSHIP 1,000
    NOELLE GRAY
    JEFFERSON
    JEFFERSON,IA50129     		NONE N/A SCHOLARSHIP 1,000
    MARY VON RENTZELL
    EARLHAM
    EARLHAM,IA50072     		NONE N/A SCHOLARSHIP 500
    AMANDA SVOBODA
    BAGLEY
    BAGLEY,IA50026     		NONE N/A SCHOLARSHIP 250
    TYLER HOUGLAND
    STORY CITY
    STORY CITY,IA50248     		NONE N/A SCHOLARSHIP 500
    BRETT LILIENTHAL
    DURANT
    DURANT,IA52747     		NONE N/A SCHOLARSHIP 500
    COLE GRINGS
    WILTON
    WILTON,IA52778     		NONE N/A SCHOLARSHIP 500
    LOGAN MAYS
    WILTON
    WILTON,IA52778     		NONE N/A SCHOLARSHIP 500
    AUSTIN LANPHIER
    NEW SHARON
    NEW SHARON,IA50207     		NONE N/A SCHOLARSHIP 500
    TREY FORSYTH
    CHARLES CITY
    CHARLES CITY,IA50616     		NONE N/A SCHOLARSHIP 500
    EMILY COOK
    HUBBARD
    HUBBARD,IA50122     		NONE N/A SCHOLARSHIP 2,000
    DREW ABBAS
    ALEXANDER
    ALEXANDER,IA50420     		NONE N/A SCHOLARSHIP 1,000
    CHELSEA ASSMANN
    PANAMA
    PANAMA,IA51562     		NONE N/A SCHOLARSHIP 1,000
    ANASTASIA FRAZEE
    GLENWOOD
    GLENWOOD,IA51534     		NONE N/A SCHOLARSHIP 1,000
    TYLER FRASHER
    ANAMOSA
    ANAMOSA,IA52205     		NONE N/A SCHOLARSHIP 1,000
    JAXON GOEDKEN
    LAMONT
    LAMONT,IA50650     		NONE N/A SCHOLARSHIP 1,000
    JENNIE GREENE
    CRAWFORDSVILLE
    CRAWFORDSVILLE,IA52621     		NONE N/A SCHOLARSHIP 1,000
    CALLIE GREINER
    KEOTA
    KEOTA,IA52248     		NONE N/A SCHOLARSHIP 1,000
    GABRIELLE KAYSER
    WAVERLY
    WAVERLY,IA50677     		NONE N/A SCHOLARSHIP 1,000
    KYLE LAFRENZ
    WILTON
    WILTON,IA52778     		NONE N/A SCHOLARSHIP 1,000
    MADISON LAPKE
    LAMOTTE
    LAMOTTE,IA52054     		NONE N/A SCHOLARSHIP 1,000
    MORGAN MCENANY
    NEVADA
    NEVADA,IA50201     		NONE N/A SCHOLARSHIP 1,000
    MEGAN MOKLESTAD
    FOREST CITY
    FOREST CITY,IA50436     		NONE N/A SCHOLARSHIP 1,000
    CARALYN MURPHY
    ANKENY
    ANKENY,IA50023     		NONE N/A SCHOLARSHIP 1,000
    MICHAELA OSTENDORF
    MADRID
    MADRID,IA50156     		NONE N/A SCHOLARSHIP 1,000
    ALEX PRINGNITZ
    SPIRIT LAKE
    SPIRIT LAKE,IA51360     		NONE N/A SCHOLARSHIP 1,000
    DAITON TIETZ
    DECORAH
    DECORAH,IA52101     		NONE N/A SCHOLARSHIP 1,000
    ALLISON VINCENT
    POLK CITY
    POLK CITY,IA50226     		NONE N/A SCHOLARSHIP 1,000
    JAY WESSELS
    DYERSVILLE
    DYERSVILLE,IA52040     		NONE N/A SCHOLARSHIP 1,000
    EMMA WHALEN
    PILOT MOUND
    PILOT MOUND,IA50223     		NONE N/A SCHOLARSHIP 1,000
    TAYLOR WULF
    HUDSON
    HUDSON,IA50643     		NONE N/A SCHOLARSHIP 1,000
    AMANDA ANDERSON
    ALGONA
    ALGONA,IA50511     		NONE N/A SCHOLARSHIP 1,000
    KAYLA DIETZ
    NASHUA
    NASHUA,IA50658     		NONE N/A SCHOLARSHIP 1,000
    HUNTER HAMILTON
    LONE TREE
    LONE TREE,IA52755     		NONE N/A SCHOLARSHIP 1,000
    KALEE LEISTIKOW
    READLYN
    READLYLN,IA50668     		NONE N/A SCHOLARSHIP 1,000
    BLAKE MILLER
    ATLANTIC
    ATLANTIC,IA50022     		NONE N/A SCHOLARSHIP 1,000
    CLIFTON NELSON
    AUDUBON
    AUDUBON,IA50025     		NONE N/A SCHOLARSHIP 1,000
    ALANA PLATTE
    FAIRBANK
    FAIRBANK,IA50629     		NONE N/A SCHOLARSHIP 1,000
    DYLAN SCHROCK
    KALONA
    KALONA,IA52247     		NONE N/A SCHOLARSHIP 1,000
    CASSIDY SIMMONS
    GUTHRIE CENTER
    GUTHRIE CENTER,IA50115     		NONE N/A SCHOLARSHIP 1,000
    MEGAN STRIEGEL
    WHAT CHEER
    WHAT CHEER,IA50268     		NONE N/A SCHOLARSHIP 1,000
    JAMES GRADERT
    SIBLEY
    SIBLEY,IA51249     		NONE N/A AWARD 1,250
    BEN WEIS
    MCINTIRE
    MCINTIRE,IA50455     		NONE N/A AWARD 500
    SARA SULLIVAN
    DUNLAP
    DUNLAP,IA51529     		NONE N/A AWARD 1,000
    KILEY ELDER
    ACKWORTH
    ACKWORTH,IA50001     		NONE N/A AWARD 1,000
    AINSLEY LOVRIEN
    CLARKSVILLE
    CLARKSVILLE,IA50619     		NONE N/A AWARD 500
    JARIKA EISENTRAGER
    GOLDFIELD
    GOLDFIELD,IA50542     		NONE N/A AWARD 1,000
    MACY MAREK
    RIVERSIDE
    RIVERSIDE,IA52327     		NONE N/A AWARD 500
    TREY LETTOW
    WOODWARD
    WOODWARD,IA50276     		NONE N/A AWARD 1,000
    KADE POLICH
    WOODWARD
    WOODWARD,IA50276     		NONE N/A AWARD 500
    TYLER WELLMAN
    WEST POINT
    WEST POINT,IA52656     		NONE N/A AWARD 600
    DAYTON BRUGMAN
    PETERSON
    PETERSON,IA51047     		NONE N/A AWARD 400
    ANDREW DORNBIER
    GARNER
    GARNER,IA50438     		NONE N/A AWARD 600
    KALE BOYSEN
    MORNING SUN
    MORNING SUN,IA52640     		NONE N/A AWARD 400
    EMILY SMITH
    DECORAH
    DECORAH,IA52101     		NONE N/A AWARD 500
    MICOLE LANSING
    OSSIAN
    OSSIAN,IA52161     		NONE N/A AWARD 250
    DYLAN CAIN
    CHARITON
    CHARITON,IA50049     		NONE N/A AWARD 1,000
    EMILY HAROLD
    WEST BRANCH
    WEST BRANCH,IA52358     		NONE N/A AWARD 750
    ALEXIS DELANEY
    DEWITT
    DEWITT,IA52742     		NONE N/A AWARD 1,000
    BAILY SONKA
    NEWHALL
    NEWHALL,IA52315     		NONE N/A AWARD 750
    ALEXIS DELANEY
    DEWITT
    DEWITT,IA52742     		NONE N/A AWARD 500
    CORY SAMPSON
    NEVADA
    NEVADA,IA50201     		NONE N/A AWARD 250
    DYLAN CAIN
    CHARITON
    CHARITON,IA50049     		NONE N/A AWARD 500
    EMILY HAROLD
    WEST BRANCH
    WEST BRANCH,IA52358     		NONE N/A AWARD 250
    JENNA TLACH
    PROLE
    PROLE,IA50229     		NONE N/A AWARD 500
    ALEXIS DELANEY
    DEWITT
    DEWITT,IA52742     		NONE N/A AWARD 500
    PIERCE WOODROFF
    MOORLAND
    MOORLAND,IA50566     		NONE N/A AWARD 250
    JOE LILIENTHAL
    NEW LIBERTY
    NEW LIBERTY,IA52765     		NONE N/A AWARD 250
    MAKENZI MAREK
    RIVERSIDE
    RIVERSIDE,IA52327     		NONE N/A AWARD 250
    JENNA TLACH
    PROLE
    PROLE,IA50229     		NONE N/A AWARD 250
    LEXIE BERRY
    SAC CITY
    SAC CITY,IA50583     		NONE N/A AWARD 250
    REEGAN DEN ADEL
    MADRID
    MADRID,IA50156     		NONE N/A AWARD 250
    BAILEY CORE
    PLEASANTVILLE
    PLEASANTVILLE,IA50225     		NONE N/A AWARD 250
    BEN JACOBSEN
    CLARION
    CLARION,IA50525     		NONE N/A AWARD 250
    ALEXIS DELANEY
    DEWITT
    DEWITT,IA52742     		NONE N/A AWARD 250
    KALEB MILLER
    LACONA
    LACONA,IA50139     		NONE N/A AWARD 250
    ZACHARY LEAR
    SPENCER
    SPENCER,IA51301     		NONE N/A AWARD 250
    WALKER MCDERMOTT
    WIOTA
    WIOTA,IA50274     		NONE N/A AWARD 250
    EMILY SMITH
    DECORAH
    DECORAH,IA52101     		NONE N/A AWARD 1,000
    ELIZABETH SMITH
    DECORAH
    DECORAH,IA52101     		NONE N/A AWARD 500
    CALEB FINNEGAN
    GUTHRIE CENTER
    GUTHRIE CENTER,IA50115     		NONE N/A AWARD 500
    ELIZABETH SMITH
    DECORAH
    DECORAH,IA52101     		NONE N/A AWARD 250
    NICOLE ZUBER
    MARENGO
    MARENGO,IA52301     		NONE N/A AWARD 500
    LILY SKARTVEDT
    RADCLIFFE
    RADCLIFFE,IA50230     		NONE N/A AWARD 500
    KAYLEA VAN REGENMORTER
    MAURICE
    MAURICE,IA51036     		NONE N/A AWARD 250
    KAYLEA VAN REGENMORTER
    MAURICE
    MAURICE,IA51036     		NONE N/A AWARD 150
    ZACHARY HOWELL
    COLUMBUS JUNCTION
    COLUMBUS JUNCTION,IA52738     		NONE N/A AWARD 500
    KACI KEITZER
    MEDIAPOLIS
    MEDIAPOLIS,IA52637     		NONE N/A AWARD 250
    MORGAN VANDERHEIDEN
    WHEATLAND
    WHEATLAND,IA52777     		NONE N/A AWARD 500
    DYLAN GOLINGHORST
    ELDRIDGE
    ELDRIDGE,IA52748     		NONE N/A AWARD 500
    DYLAN GOLINGHORST
    ELDRIDGE
    ELDRIDGE,IA52748     		NONE N/A AWARD 500
    MAKAYLA CLARK
    MORNING SUN
    MORNING SUN,IA52640     		NONE N/A AWARD 500
    TAYLER MARTINS
    MONONA
    MONONA,IA52159     		NONE N/A AWARD 500
    GARRETT GOURLEY
    WEBSTER CITY
    WEBSTER CITY,IA50595     		NONE N/A AWARD 500
    LANDON JOHNSON
    STRATFORD
    STRATFORD,IA50249     		NONE N/A AWARD 250
    GRANT MOELLER
    MILES
    MILES,IA52064     		NONE N/A AWARD 1,000
    SIDNEY WEIS
    AFTON
    AFTON,IA50830     		NONE N/A AWARD 500
    KAYLEE MILLER
    LACONA
    LACONA,IA50139     		NONE N/A AWARD 250
    GARRETT GOURLEY
    WEBSTER CITY
    WEBSTER CITY,IA50595     		NONE N/A AWARD 1,000
    DEREK COUNSELL
    ORCHARD
    ORCHARD,IA50460     		NONE N/A AWARD 500
    AUSTIN HIMES
    CENTRAL CITY
    CENTRAL CITY,IA52214     		NONE N/A AWARD 250
    RAY SCHMIDT
    WILLIAMSBURG
    WILLIAMSBURG,IA52361     		NONE N/A AWARD 1,500
    KATLYN KAHLER
    CAMBRIDGE
    CAMBRIDGE,IA50046     		NONE N/A AWARD 1,000
    LEXI MAREK
    RIVERSIDE
    RIVERSIDE,IA52327     		NONE N/A AWARD 500
    BEAU VASKE
    MANCHESTER
    MANCHESTER,IA52057     		NONE N/A AWARD 300
    TYLER TRIGGS
    MT AYR
    MT AYR,IA50854     		NONE N/A AWARD 200
    IA STATE MEAT JUDGING TEAM
    AMES
    AMES,IA50011     		NONE N/A AWARD 8,000
    Total .................................bullet 3a 213,150
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 12
    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 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....          
    3
    Interest on savings and temporary cash investments ...........     		    14 3,700  
    4 Dividends and interest from securities....          
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    6
    Net rental income or (loss) from personal property     		         
    7 Other investment income.....          
    8
    Gain or (loss) from sales of assets other than inventory ............     		         
    9 Net income or (loss) from special events:     1 31,528  
    10 Gross profit or (loss) from sales of inventory..         84,320
    11 Other revenue:
    aMEMBERSHIP DUES     		        8,450
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   35,228 92,770
    13Total. Add line 12, columns (b), (d), and (e)..................
    13127,998
    (See worksheet in line 13 instructions 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 foundation’s exempt purposes (other than by providing funds for such purposes). (See
    instructions.)
    10 SEE ATTACHED STATEMENT
    Form 990-PF (2015)
    Form 990-PF (2015)
    Page 13
    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 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
    Yes
    No
    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
    Sign Here
    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) is based on all information of which preparer has any knowledge.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2015)
    Additional Data


    Software ID: 15000324
    Software Version: 2015v2.0


    Form 990PF - Special Condition Description:
    Special Condition Description

    TY 2015 AccountingFeesSchedule
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
      5,424 1,000 4,424 0

    TY 2015 OtherExpensesSchedule
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AWARDS & PLAQUES 1,790   1,790  
    BANK FEES 111   111  
    CONTRACT SERVICES 7,126   7,126  
    FACILITIES & EQUIPMENT 1,541   1,541  
    FEDERAL INCOME TAX WITHOLDINGS 14   14  
    INSURANCE 310   310  
    MARKETING 1,684   1,684  
    MEALS & HOTEL 2,534   2,534  
    OFFICE SUPPLIES 5,516   5,516  
    OTHER 301   301  
    PHOTOGRAPHY AND BANNERS 2,685   2,685  
    PICNIC EXPENSES 18,556   18,556  
    POSTAGE 3,650   3,650  
    Special Event Expenses 21,688      
    SPECIAL EVENT EXPENSES     21,688  
    STATE FAIR TICKETS 1,368   1,368  
    WEBSITE 25   25  


    TY 2015 OtherIncomeSchedule2
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    15000324
    Software Version:
    2015v2.0
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Income From Special Events 53,216   53,216
    MEMBERSHIP DUES 8,450    


    TY 2015 SalesOfInventoryList 
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    15000324
    Software Version:
    2015v2.0

    Category Gross Sales Cost of Goods Sold Net (Gross Sales Minus
    Cost of Goods Sold)
    SALE OF CHAMPIONS PROCEEDS 340,270 255,950 84,320