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.
bulletGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0052
2020
Open to Public Inspection
For calendar year 2020, or tax year beginning 01-01-2020 , and ending 12-31-2020
Name of foundation
IOWA FOUNDATION FOR AGRICULTURAL
ADVANCEMENT
Number and street (or P.O. box number if mail is not delivered to street address)10550 NEW YORK AVE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
DES MOINES, IA50322
A Employer identification number

42-1183067
B Telephone number (see instructions)

(515) 987-2116
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... 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) 180,322
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 4,715 4,715 4,715
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 2,710
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 204,854
b Less: Cost of goods sold.... 148,265
c Gross profit or (loss) (attach schedule)..... Click to see attachment 56,589 56,589
11 Other income (attach schedule)....... Click to see attachment 34,593   20,927
12 Total. Add lines 1 through 11........ 278,929 4,715 82,231
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc.        
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 9,980 1,000 8,880  
c Other professional fees (attach schedule)....        
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 37   37  
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 2,268   2,268  
22 Printing and publications.......... 4,237   4,237  
23 Other expenses (attach schedule)....... Click to see list of attachments 40,351   40,351  
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 56,873 1,000 55,773 0
25 Contributions, gifts, grants paid....... 185,450 185,450
26 Total expenses and disbursements. Add lines 24 and 25 242,323 1,000 55,773 185,450
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 36,606
b Net investment income (if negative, enter -0-) 3,715
c Adjusted net income (if negative, enter -0-)... 26,458
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2020)
Form 990-PF (2020)
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............. 21,037 15,737  
2 Savings and temporary cash investments......... 275,500 177,009  
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)....... 115,182 267,712  
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) 411,719 460,458 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 Foundations that follow FASB ASC 958, check here bullet
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions...........    
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here bullet
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds 411,719 460,458
29 Total net assets or fund balances (see instructions)..... 411,719 460,458
30 Total liabilities and net assets/fund balances (see instructions). 411,719 460,458
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 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
411,719
2
Enter amount from Part I, line 27a .....................
2
36,606
3
Other increases not included in line 2 (itemize) bulletClick to see attachment
3
12,133
4
Add lines 1, 2, and 3 ..........................
4
460,458
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 29 .
6
460,458
Form 990-PF (2020)
Form 990-PF (2020)
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
SECTION 4940(e) REPEALED ON DECEMBER 20, 2019 - DO NOT COMPLETE
1 Reserved
(a)
Reserved 		(b)
Reserved 		(c)
Reserved 		(d)
Reserved
2
Reserved...........................
2
3
Reserved...........................
3
4
Reserved...........................
4
5
Reserved...........................
5
6
Reserved...........................
6
7
Reserved...........................
7
8
Reserved,..........................
8
Form 990-PF (2020)
Form 990-PF (2020)
Page 4
Part VI
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here Bullet and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions)
b Reserved................................ 1 52
c All other domestic foundations enter 1.39% 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 52
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 52
6 Credits/Payments:
a 2020 estimated tax payments and 2019 overpayment credited to 2020 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. Check here 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 52
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 2021 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 the instructions
for the 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
 
 
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 2020 or the taxable year beginning in 2020? See the 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 (2020)
    Form 990-PF (2020)
    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 ofbulletTIMMINS JACOBSEN STRAWHACKER Telephone no.bullet (515) 270-8080

    Located atbullet10550 NEW YORK AVE STE 200DES MOINESIA ZIP+4bullet50322
    15
    Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........bullet
    and enter the amount of tax-exempt interest received or accrued during the year ........bullet
    15
     
    16 At any time during calendar year 2020, 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 the instructions for exceptions and filing requirements for FinCEN Form 114. 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 2020?.............
    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 2020, did the foundation have any undistributed income (lines 6d
    and 6e, Part XIII) for tax year(s) beginning before 2020?.............
    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
     
     
    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 2020 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 2020.)..................
    3b
     
     
    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 2020?
    4b
     
    No
    Form 990-PF (2020)
    Form 990-PF (2020)
    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:
    Yes
    No
    (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
     
     
    .........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
     
     
    8
    Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
    excess parachute payment during the year? .................
    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 Director
    2.00     		0    
    4462 NE 150TH AVE
    ELKHART,IA50073
    ROB BOHNSACK Director
    2.00     		0    
    2063 VERMONT AVE
    WILTON,IA52778
    BROOKE BEELNER Director
    2.00     		0    
    914 MURRAY DRIVE
    AMES,IA50010
    MORGAN SHRADER Director
    2.00     		0    
    1767 HICKORY AVENUE
    NEW SHARON,IA50207
    GARY VANAERNAM Director
    2.00     		0    
    2810 280TH STREET
    EXIRA,IA50076
    MARK KAHLER Director
    2.00     		0    
    502 4TH ST
    CAMBRIDGE,IA50046
    TIM MESSENGER President
    4.00     		0    
    1869 255TH STREET
    FAIRFIELD,IA52556
    ANDREW LAUVER Vice President
    2.00     		0    
    225 PRAIRIE VIEW DRIVE
    WEST DES MOINES,IA50266
    MIKE DORAN Director
    2.00     		0    
    3116 EVERGREEN ROAD
    AMES,IA50014
    BREANNA WAGNER Secretary
    2.00     		0    
    1427 250TH ST
    EAGLE GROVE,IA50533
    JOSH WILLIAMS Treasurer
    2.00     		0    
    175 TERRACE DR
    WAUKEE,IA50263
    DOUG PULLIN Director
    2.00     		0    
    24751 270TH STREET
    ADEL,IA50003
    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  
    Form 990-PF (2020)
    Form 990-PF (2020)
    Page 7
    Part VIII
    Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
    and Contractors (continued)
    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 (2020)
    Form 990-PF (2020)
    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
    242,101
    b
    Average of monthly cash balances.......................
    1b
    217,381
    c
    Fair market value of all other assets (see instructions)................
    1c
    0
    d
    Total (add lines 1a, b, and c).........................
    1d
    459,482
    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
    459,482
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    6,892
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    452,590
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    22,630
    Part XI
    Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
    1
    Minimum investment return from Part X, line 6....................
    1
    22,630
    2a
    Tax on investment income for 2020 from Part VI, line 5......
    2a
    52
    b
    Income tax for 2020. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    52
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    22,578
    4
    Recoveries of amounts treated as qualifying distributions................
    4
     
    5
    Add lines 3 and 4............................
    5
    22,578
    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
    22,578
    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
    185,450
    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
    185,450
    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
    185,450
    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 (2020)
    Form 990-PF (2020)
    Page 9
    Part XIII
    Undistributed Income (see instructions)
    (a)
    Corpus     		(b)
    Years prior to 2019     		(c)
    2019     		(d)
    2020
    1 Distributable amount for 2020 from Part XI, line 7 22,578
    2 Undistributed income, if any, as of the end of 2020:
    a Enter amount for 2019 only.......  
    b Total for prior years:20, 20, 20  
    3 Excess distributions carryover, if any, to 2020:
    a From 2015...... 194,710
    b From 2016...... 195,255
    c From 2017...... 177,450
    d From 2018...... 193,391
    e From 2019...... 209,766
    fTotal of lines 3a through e........ 970,572
    4Qualifying distributions for 2020 from Part
    XII, line 4: bullet$ 185,450
    a Applied to 2019, 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 2020 distributable amount..... 22,578
    e Remaining amount distributed out of corpus 162,872
    5 Excess distributions carryover applied to 2020.    
    (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 1,133,444
    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 2019. Subtract line
    4a from line 2a. Taxable amount—see
    instructions .............     		 
    f Undistributed income for 2020. Subtract
    lines 4d and 5 from line 1. This amount must
    be distributed in 2021 ..........     		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) .......     		 
    8 Excess distributions carryover from 2015 not
    applied on line 5 or line 7 (see instructions) ...     		194,710
    9Excess distributions carryover to 2021.
    Subtract lines 7 and 8 from line 6a ......     		938,734
    10 Analysis of line 9:
    a Excess from 2016.... 195,255
    b Excess from 2017.... 177,450
    c Excess from 2018.... 193,391
    d Excess from 2019.... 209,766
    e Excess from 2020.... 162,872
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 2020, 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) 2020 (b) 2019 (c) 2018 (d) 2017
             
    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 foundation 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 (2020)
    Form 990-PF (2020)
    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
    ISU LIVESTOCKMEAT JUDGING TEAMS
    119 KILDEE
    AMES,IA50011     		NONE N/A AWARD 8,000
    IOWA PUREBRED SWINE COUNCIL
    ATTN EMMA LASCO
    CLIVE,IA50325     		NONE N/A AWARD 2,500
    MARIAH STEENHARD
    14670 190TH STREET
    MASON CITY,IA50401     		NONE N/A AWARD 750
    KYLE DOLIESLAGER
    3190 270TH STREET
    DOON,IA51235     		NONE N/A AWARD 500
    SARA SULLIVAN
    35 INDUSTRIAL DRIVE
    DUNLAP,IA51529     		NONE N/A AWARD 1,000
    KINNICK PAULSON
    6098 425TH AVE
    PRESTON,IA52069     		NONE N/A AWARD 500
    RYLAND SHALLA
    1260 WALNUT AVE
    RIVERSIDE,IA52327     		NONE N/A AWARD 500
    GAVIN BRANDERHORST
    7985 W 78TH ST SOUTH
    PRAIRIE CITY,IA50228     		NONE N/A AWARD 900
    TATE LETTOW
    2184 MAGNOLIA RD
    WOODWARD,IA50276     		NONE N/A AWARD 1,100
    MAGGIE STAUDACHER
    10782 GRIMES ST
    INDIANOLA,IA50125     		NONE N/A AWARD 1,000
    KENNEDY DEVRIES
    2247 148TH STREET
    RED OAK,IA51566     		NONE N/A AWARD 500
    JOSELYN ABELL
    23174 210TH ST
    SIGOURNEY,IA52591     		NONE N/A AWARD 600
    JOVI EVANS
    917 7TH ST
    KALONA,IA52247     		NONE N/A AWARD 400
    OLIVER POTTER
    1303 325TH ST
    WOODWARD,IA50276     		NONE N/A AWARD 1,250
    SYDNEY CAIN
    20267 475TH STREET
    CHARITON,IA50049     		NONE N/A AWARD 750
    TOMMY JANSSEN
    15899 F AVE
    WELLSBURG,IA50680     		NONE N/A AWARD 500
    TOMMY PRETZ
    1004 COLTON ST
    COLUMBUS JUNCTION,IA52738     		NONE N/A AWARD 1,000
    ELIZABETH MCKNIGHT
    1466 CREAMERY ROAD
    AFTON,IA50830     		NONE N/A AWARD 1,000
    JESSICA FRASHER
    22703 FISH HOUSE ROAD
    ANAMOSA,IA52205     		NONE N/A AWARD 500
    MACY JACOBSON
    1760 195TH AVE
    OSCEOLA,IA50213     		NONE N/A AWARD 250
    KEELY MALONE
    2358 170TH ST
    MT UNION,IA52644     		NONE N/A AWARD 250
    BRODY MOELLER
    1340 HIGHWAY 218
    WEST POINT,IA52656     		NONE N/A AWARD 250
    CLAIRE LAUTERBACH
    35448 OLD PORTLAND RD
    VAN METER,IA50261     		NONE N/A AWARD 250
    GAREN WILKERSON
    21673 270TH ST
    MORNING SUN,IA52640     		NONE N/A AWARD 250
    GARRETT ARNOLD
    2549 BRIGGS WOODS RD
    WEBSTER CITY,IA50595     		NONE N/A AWARD 250
    CLAIRE PETZENHAUSER
    62750 150TH ST
    ROLAND,IA50236     		NONE N/A AWARD 250
    TOMMY PRETZ
    1004 COLTON ST
    COLUMBUS JUNCTION,IA52738     		NONE N/A AWARD 250
    MELANIE LANE
    204 CHESTNUT ST SE
    ELKADER,IA52043     		NONE N/A AWARD 250
    JUSTIN ENGELKING
    6619 17TH AVE
    KEYSTONE,IA52249     		NONE N/A AWARD 250
    COLBY TOOL
    10179 RIFLE ST
    MONROE,IA50170     		NONE N/A AWARD 500
    TREVOR SCHULTZ
    2530 600TH ST
    ELK HORN,IA51531     		NONE N/A AWARD 500
    NICK MOSIER
    2952 INDIAN AVE
    HULL,IA51239     		NONE N/A AWARD 100
    JILL BERKLAND
    1620 PIERCE AVE
    SIBLEY,IA51249     		NONE N/A SCHOLARSHIP 5,000
    BEN MCCLAIN
    2130 150TH ST
    BAYARD,IA50029     		NONE N/A SCHOLARSHIP 5,000
    TAYLOR HOWELL
    14354 W AVE
    COLUMBUS JUNCTION,IA52738     		NONE N/A SCHOLARSHIP 5,000
    LEAH MAREK
    2659 170TH ST
    RIVERSIDE,IA52327     		NONE N/A SCHOLARSHIP 5,000
    LARAME BOYSEN
    20409 105TH ST
    COLUMBUS JUNCTION,IA52738     		NONE N/A SCHOLARSHIP 7,000
    HANS RIENSCHE
    11607 RICKARD RD
    JESUP,IA50648     		NONE N/A SCHOLARSHIP 7,000
    GRACE GERMAN
    5139 210TH STREET
    HOLSTEIN,IA51025     		NONE N/A SCHOLARSHIP 5,000
    ERIN CHALUPA
    1109 HIGHWAY 92
    KEOTA,IA52248     		NONE N/A SCHOLARSHIP 5,000
    BROOKE BEINHART
    1095 200TH ST
    KEOTA,IA52248     		NONE N/A SCHOLARSHIP 5,000
    ALISON BUELTEL
    1607 320TH AVE
    ESTHERVILLE,IA51334     		NONE N/A SCHOLARSHIP 5,000
    CARLA EDLEMAN
    32514 585TH AVE
    CAMBRIDGE,IA50046     		NONE N/A SCHOLARSHIP 5,000
    LOGAN SCHMITT
    21820 HWY 16
    BIRMINHAM,IA52535     		NONE N/A SCHOLARSHIP 3,000
    EMMA HAY
    14440 N 75TH AVE W
    MAXWELL,IA50161     		NONE N/A SCHOLARSHIP 3,000
    JUSTIN SWANTON
    1791 360TH AVE
    GOOSE LAKE,IA52750     		NONE N/A SCHOLARSHIP 3,000
    JACK MCKINNEY
    73349 260TH ST
    COLO,IA50056     		NONE N/A SCHOLARSHIP 3,000
    LAUREN ERICKSON
    1936 K RD
    HUMBOLDT,IA50548     		NONE N/A SCHOLARSHIP 2,500
    JACK CARTER
    2305 180TH STREET
    WASHINGTON,IA52353     		NONE N/A SCHOLARSHIP 2,500
    COLTON SWANTON
    1791 360TH AVE
    GOOSE LAKE,IA52750     		NONE N/A SCHOLARSHIP 2,000
    JACOB STERLE
    59096 130TH ST
    ROLAND,IA50236     		NONE N/A SCHOLARSHIP 2,000
    JOE LILIENTHAL
    2323 290TH ST
    NEW LIBERTY,IA52765     		NONE N/A SCHOLARSHIP 2,000
    LAUREN MOSHER
    109 NORTH STREET
    LISCOMB,IA50148     		NONE N/A SCHOLARSHIP 2,000
    COLE NEIL
    8804 GOELLER RD
    FAIRBANK,IA50629     		NONE N/A SCHOLARSHIP 2,000
    ALEXIS BERTE
    1108 E LUCAS ST
    ALGONA,IA50511     		NONE N/A SCHOLARSHIP 2,000
    BLAKE WILKINS
    2028 230TH ST
    BENNETT,IA52721     		NONE N/A SCHOLARSHIP 2,000
    SHARA COTA
    730 PAINT ROCK RD
    HARPERS FERRY,IA52146     		NONE N/A SCHOLARSHIP 2,000
    GRACE DENEUI
    410 3RD AVE SE
    STATE CENTER,IA50247     		NONE N/A SCHOLARSHIP 2,000
    GRANT BORKOWSKI
    24196 150TH STREET
    CARROLL,IA51401     		NONE N/A SCHOLARSHIP 2,000
    BRADY EDGE
    776 270TH ST
    WEST BRANCH,IA52358     		NONE N/A SCHOLARSHIP 2,000
    LYDIA JOHNSON
    8200 NE 113TH AVE
    BONDURANT,IA50035     		NONE N/A SCHOLARSHIP 2,000
    MOLLY SIMMONS
    3071 165TH ST
    YALE,IA50277     		NONE N/A SCHOLARSHIP 2,000
    CHANDLER JAHNER
    1307 216TH PLACE
    HARVEY,IA50119     		NONE N/A SCHOLARSHIP 1,500
    TATE LETTOW
    2184 MAGNOLIA RD
    WOODWARD,IA50276     		NONE N/A SCHOLARSHIP 1,500
    COLE MOELLER
    1340 HWY 218
    WEST POINT,IA52656     		NONE N/A SCHOLARSHIP 1,500
    MACY EVANS
    1954 HI DRY RD
    CRESTON,IA50801     		NONE N/A SCHOLARSHIP 1,500
    PAIGE JERGENS
    831 MILFORD ST
    MERENGO,IA52301     		NONE N/A SCHOLARSHIP 1,500
    OLIVIA STAUDT
    2565 JERSEY AVE
    MARBLE ROCK,IA50653     		NONE N/A SCHOLARSHIP 1,500
    GRACE CHRISTENSEN
    1775 210TH STREET
    AUDUBON,IA50025     		NONE N/A SCHOLARSHIP 1,500
    HUNTER HOLDGRAFER
    3846 110TH ST
    BRYANT,IA52727     		NONE N/A SCHOLARSHIP 1,250
    TIFFANY POEN
    3184 FLETCHER AVE
    LAKE CITY,IA51449     		NONE N/A SCHOLARSHIP 1,250
    AVERY MATHER
    73283 LINCOLN HWY
    STATE CENTER,IA50247     		NONE N/A SCHOLARSHIP 1,100
    TATUM KAHLER
    22651 CANOE RD
    ELGIN,IA52141     		NONE N/A SCHOLARSHIP 1,000
    BRONSON FORSYTH
    2283 7 MILE RD
    CHARLES CITY,IA50616     		NONE N/A SCHOLARSHIP 1,000
    ERIKA JOHNSON
    1674 WEST RIDGE ROAD
    WAUKON,IA52172     		NONE N/A SCHOLARSHIP 1,000
    DYLAN SCHNITKER
    10736 EE AVE
    ALDEN,IA50006     		NONE N/A SCHOLARSHIP 1,000
    ADAM KNOBLOCK
    2583 180TH ST
    ROCK RAPIDS,IA51246     		NONE N/A SCHOLARSHIP 1,000
    BRIELLE SMEBY
    1445 VAIL AVE
    KLEMME,IA50449     		NONE N/A SCHOLARSHIP 1,000
    SEAN NEGUS
    4483 WHITE AVE
    SUTHERLAND,IA51058     		NONE N/A SCHOLARSHIP 1,000
    NICOLE BEHRENDT
    44346 325TH ST
    DUNLAP,IA51529     		NONE N/A SCHOLARSHIP 1,000
    JAY STOWATER
    1015 SOUTH MINNESOTA ST
    ALGONA,IA50511     		NONE N/A SCHOLARSHIP 1,000
    JESSICA SCHMIDT
    2738 ST HWY 24
    FORT ATKINSON,IA52144     		NONE N/A SCHOLARSHIP 1,000
    BRITTNEY FORD
    1502 LOGAN AVE
    TIPTON,IA52772     		NONE N/A SCHOLARSHIP 1,000
    EMMA EHLERS
    39457 GLACIER ROAD
    EDGEWOOD,IA52042     		NONE N/A SCHOLARSHIP 1,000
    LEAH MOSHER
    109 NORTH STREET
    LISCOMB,IA50148     		NONE N/A SCHOLARSHIP 1,000
    LACI ORR
    14252 HWY 56
    ELKADER,IA52043     		NONE N/A SCHOLARSHIP 1,000
    IAN LATHAM
    208 BRICKYARD CT
    SHEFFIELD,IA50475     		NONE N/A SCHOLARSHIP 1,000
    JAIDEN SHAHAN
    12546 U AVE
    ACKLEY,IA50601     		NONE N/A SCHOLARSHIP 1,000
    HANNAH HEIT
    2115 ODESSA AVE
    NEW HAMPTON,IA50659     		NONE N/A SCHOLARSHIP 1,000
    MAKENZIE VONRENTZELL
    1765 105TH STREET
    EARLHAM,IA50072     		NONE N/A SCHOLARSHIP 1,000
    MEGAN NIEWOEHNER
    20452 T AVE
    HAWKEYE,IA52147     		NONE N/A SCHOLARSHIP 1,000
    LYDIA MARTINS
    24475 20TH ST
    FAIRBANK,IA50629     		NONE N/A SCHOLARSHIP 1,000
    HANNAH ROHWEDDER
    31335 BIG ROCK RD
    DIXON,IA52745     		NONE N/A SCHOLARSHIP 1,000
    BRODRICK SCHMIDT
    25313 J AVE
    ADEL,IA50003     		NONE N/A SCHOLARSHIP 500
    SAMUEL LANE
    22835 IOWA CITY ROAD
    MEDIAPOLIS,IA52637     		NONE N/A SCHOLARSHIP 500
    DAYTON BRUGMAN
    4650 130TH AVE
    PETERSON,IA51047     		NONE N/A SCHOLARSHIP 500
    CURTIS CLARK
    1465 HWY 137
    ALBIA,IA52531     		NONE N/A SCHOLARSHIP 500
    MAX TROYER
    823 10TH ST
    KALONA,IA52247     		NONE N/A SCHOLARSHIP 500
    KAILEY CLARK
    2073 175TH ST
    GRAND MOUND,IA52751     		NONE N/A SCHOLARSHIP 2,000
    ABBY BEAN
    4775 220TH AVE
    MARATHON,IA50565     		NONE N/A SCHOLARSHIP 2,000
    GAVIN BRANDERHORST
    7985 W 78TH ST SOUTH
    PRAIRIE CITY,IA50228     		NONE N/A SCHOLARSHIP 2,000
    BROOKLYN CURTIN
    1310 GEGENHEIMER RD NW
    OXFORD,IA52322     		NONE N/A SCHOLARSHIP 2,000
    CHLOE ENGELBRECHT
    13518 230TH ST
    DAVENPORT,IA52806     		NONE N/A SCHOLARSHIP 2,000
    RENEE GRIMM
    1431 120TH ST
    AUDUBON,IA50025     		NONE N/A SCHOLARSHIP 2,000
    MAKAYLA HAGEMAN
    1306 COUMTY RD W42
    OSSIAN,IA52161     		NONE N/A SCHOLARSHIP 2,000
    MITCHELL HERKEN
    1147 35TH PL
    PLEASANTVILLE,IA50225     		NONE N/A SCHOLARSHIP 2,000
    BRENNAN LYNCH
    322 MORNINGSIDE ST
    BOONE,IA50036     		NONE N/A SCHOLARSHIP 2,000
    COLTON MOORE
    208 N LAMBERT ST
    RANDOLPH,IA51649     		NONE N/A SCHOLARSHIP 2,000
    FAITH PALMER
    835 MCCABE DR
    WAUKON,IA52172     		NONE N/A SCHOLARSHIP 2,000
    CORYN WILSON
    28299 104TH AVE
    DONAHUE,IA52746     		NONE N/A SCHOLARSHIP 2,000
    DEVIN DEVORE
    1403 WARREN AVE
    OSCEOLA,IA50213     		NONE N/A SCHOLARSHIP 2,000
    ABBY FELDPAUSCH
    32421 K AVE
    BEAMAN,IA50309     		NONE N/A SCHOLARSHIP 2,000
    DIANE MULDER
    21461 290TH ST
    PARKERSBURG,IA50665     		NONE N/A SCHOLARSHIP 2,000
    JENNA SMITH
    7525 N 19TH AVE W
    NEWTON,IA50208     		NONE N/A SCHOLARSHIP 2,000
    2019 SCHOLARSHIPS RETURNED
    10550 NEW YORK AVENUE 200
    DES MOINES,IA50322     		NONE N/A SCHOLARSHIP -12,000
    2019 AWARD RETURNED
    10550 NEW YORK AVENUE 200
    DES MOINES,IA50322     		NONE N/A AWARD -1,000
    Total .................................bullet 3a 185,450
    bApproved for future payment
    Total .................................bullet 3b  
    Form 990-PF (2020)
    Form 990-PF (2020)
    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 ...........     		         
    4 Dividends and interest from securities....     14 4,715  
    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 ............     		    18 2,710  
    9 Net income or (loss) from special events:     1 16,127  
    10 Gross profit or (loss) from sales of inventory         56,589
    11 Other revenue:
    aMEAT LAB PROCESSING     		        918
    bMEMBERSHIP DUES         4,800
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e)..   23,552 62,307
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    85,859
    (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 (2020)
    Form 990-PF (2020)
    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) (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) (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 instructions.
    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 (2020)
    Additional Data


    Software ID: 20011551
    Software Version: 2020v4.0


    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.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2020
    Name of the 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 isn't covered by the General Rule and/or the Special Rules doesn't 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 its Form 990PF, Part I, line 2, to certify that it doesn't 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) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020) Page 2
    Name of organization
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT         		Employer identification number
    42-1183067
    Part I
    Contributors
    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
    1
    CARGILL INCORPORATED
     
    PO BOX 9300
     
    MINNEAPOLIS, MN55440

    		$ 11,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    2
    SINCLAIR TRACTOR
     
    1407 200TH AVENUE
     
    SIGOURNEY, IA52591

    		$ 10,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    3
    IOWA CORN GROWERS ASSOCIATION
    5505 88TH ST 100
     
    JOHNSTON, IA50131

    		$ 25,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    4
    COMMUNITY FOUNDATION OF GREATER DM
    1915 GRAND AVE
     
    DES MOINES, IA50309

    		$ 20,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    5
    THE RASTETTER FOUNDATION
    10640 COUNTY HWY D20
     
    ALDEN, IA50006

    		$ 14,000


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    6
    IOWA CATTLEMEN'S FOUNDATION
    2055 IRONWOOD COURT
     
    AMES, IA50014

    		$ 5,000


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Name of organization
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT         		Employer identification number
    42-1183067
    Part I
    Contributors
    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
    7
    CAROLYN SMITH TRUST
    14353 FOREST COURT
     
    CLIVE, IA50325

    		$ 20,000


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

    		$  


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

    		$  


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

    		$  


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

    		$  


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

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 3
    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) (2020)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2020)
    Page 4
    Name of organization
    IOWA FOUNDATION FOR AGRICULTURAL
    ADVANCEMENT         		Employer identification number

    42-1183067
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. 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) (2020)
    Additional Data


    Software ID: 20011551
    Software Version: 2020v4.0

    TY 2020 AccountingFeesSchedule
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 9,980 1,000 8,880 0

    TY 2020 OtherExpensesSchedule
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AWARDS & PLAQUES 644   644  
    BANK FEES 816   816  
    CONTRACT SERVICES 11,749   11,749  
    CREDIT CARD PROCESSING FEES 636   636  
    DUES & MEMBERSHIPS 1,740   1,740  
    INSURANCE 210   210  
    MARKETING 382   382  
    MEALS & HOTEL 686   686  
    OFFICE SUPPLIES 3,145   3,145  
    PHOTOGRAPHY AND BANNERS 109   109  
    PICNIC EXPENSES 500   500  
    POSTAGE 2,766   2,766  
    QUARTERLY FEES 1,643   1,643  
    Special Event Expenses 12,748      
    SPECIAL EVENT EXPENSES     12,748  
    STORAGE UNIT 581   581  
    TELECOMMUNICATIONS 144   144  
    WEBSITE 1,852   1,852  


    TY 2020 OtherIncomeSchedule2
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    Income From Special Events 28,875    
    MEAT LAB PROCESSING 918    
    MEMBERSHIP DUES 4,800   4,800


    TY 2020 SalesOfInventoryList 
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    20011551
    Software Version:
    2020v4.0

    Category Gross Sales Cost of Goods Sold Net (Gross Sales Minus
    Cost of Goods Sold)
    SALE OF CHAMPIONS PROCEEDS- LOCAL 204,854 148,265 56,589

    TY 2020 TaxesSchedule
    Name:
    IOWA FOUNDATION FOR AGRICULTURAL
     
    ADVANCEMENT
    EIN:
    42-1183067
    Software ID:
    20011551
    Software Version:
    2020v4.0
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    PAID WITH 2019 990-PF 37   37