2024-11-14T14:30:11-05:00 2024-09-30 421104473 MHCS PC 1601 W LAKES PKWY STE 300 WEST DES MOINES IA 50266 990 2023-10-01 420332550 IOWA-NEBRASKA FARM EQUIPMENT ASSOCIATION INC IOWA 5152235119 8330 NW 54TH AVENUE JOHNSTON IA 50131 MARK HENNESSEY CEO 5152235119 2024-11-13 true true ALEXANDRA KAFER CPA P02066016 5152883279 2024-11-13 2023 2024-10-15 13:58:12Z MARK HENNESSEY 3790181 false X WWW.INEDA.COM X 1927 IA THE ASSOCIATION IS A NONPROFIT CORPORATION ENGAGED IN THE JOINING, THROUGH MEMBERSHIP, OF VARIOUS FARM, INDUSTRIAL AND OUTDOOR POWER EQUIPMENT DEALERS THROUGHOUT IOWA AND NEBRASKA TO PROMOTE AND DISSEMINATE KNOWLEDGE AND INFORMATION CONCERNING FARM IMPLEMENT AND EQUIPMENT DEALERS. 8 8 0 2 0 0 3338605 3495026 230152 282450 4693 0 3573450 3777476 88976 103635 0 0 0 0 2980688 3108620 3069664 3212255 503786 565221 9522882 11447526 2858955 3857157 6663927 7590369 THE MISSION OF THE ASSOCIATION IS TO PROMOTE THE GENERAL WELFARE OF ITS DEALER/MEMBERS BY SUPPORTING FAVORABLE LEGISLATION AND PROVIDING VARIOUS PROGRAMS AND SERVICES AT REASONABLE COSTS. false false ANNUAL CONVENTION AND SHOW HELD FOR FARM EQUIPMENT DEALER MEMBERS AND THEIR ASSOCIATES. SUPPLIERS PROVIDE DEALERS/MEMBERS WITH INFORMATION ON NEW DEVELOPMENTS AND PRODUCTS IN THE FARM IMPLEMENT, CONSTRUCTION AND INDUSTRIAL EQUIPMENT INDUSTRY. ANNUAL DEALER MEETINGS FOR FARM EQUIPMENT DEALER MEMBERS AND THEIR ASSOCIATES. THE ORGANIZATION EDUCATES PARTICIPANTS ON NEW DEVELOPMENTS AND PRODUCTS IN THE FARM, CONSTRUCTION, AND INDUSTRIAL EQUIPMENT INDUSTRY. ASSOCIATION HOLDS EDUCATIONAL OPPORTUNITIES WHERE MEMBERS/DEALERS CAN LEARN ABOUT NEW DEVELOPMENTS AND PRODUCTS IN THE FARM IMPLEMENT, CONSTRUCTION AND INDUSTRIAL EQUIPMENT INDUSTRY. false false false true false false false false false true true false false true true false true false false false false false false false false false false true true false false false false false false false false false false false true true true false true 27 0 0 false false false false false false false false X 8 8 false false false false true true false true true false false true true true true true true true false false X MARK HENNESSEY 5152235119 8330 NW 54TH AVENUE JOHNSTON IA 50131 MARK HENNESSEY CEO 40.00 X 0 228915 49510 PHILIP ERDMAN DIR OF DEALE 40.00 X 0 158055 55439 TOM JUNGE IA FIELD DIR 40.00 X 0 155221 51703 CINDY FELDMAN MARKETING DI 40.00 X 0 128735 29568 GWEN PARKS CONTROLLER 40.00 X 0 101114 43531 DONNA MILLER OPERATIONS M 40.00 X 0 119017 19671 CLAY HALEY DIRECTOR 0.46 X 0 0 0 BRUCE BOWMAN DIRECTOR 0.46 X 0 0 0 KENT GROSSHANS DIRECTOR 0.46 X 0 0 0 DAVE MCCARTHY DIRECTOR 0.46 X 0 0 0 MARK PLACEK DIRECTOR 0.46 X 0 0 0 BRIAN KOONCE LEFT FEB 2024 DIRECTOR 0.46 X 0 0 0 MATT VANDE HOEF LEFT FEB 2024 DIRECTOR 0.46 X 0 0 0 JAY FUNKE CHAIRMAN 0.46 X X 0 0 0 KEVIN CLARK VICE CHAIRMA 0.46 X X 0 0 0 TIM KAYTON PAST CHAIRMA 0.46 X X 0 0 0 891057 249422 false true false CONVENTION & SHOWS 900099 3263696 3263696 MEMBERSHIP 900099 168150 168150 DEALER MEETING 900099 63180 63180 3495026 282155 282155 13000 12705 295 295 295 3777476 3495026 282450 2900 100735 7625 32750 107146 15171 10819 9683 33263 41225 82845 35760 1030406 77156 PAYROLL - 3RD PARTY 1406607 PAYROLL TAXES - 3RD PARTY 85577 DIRECTORS EXPENSE 84037 OUTSIDE SERVICES 16451 32099 3212255 0 0 0 5857861 7074334 209729 364212 15754 1546324 554480 1079940 991844 1390591 1969669 945877 978646 38884 53067 9522882 11447526 31986 25687 1981996 2762655 844973 1068815 2858955 3857157 X 6663927 7590369 6663927 7590369 9522882 11447526 X 565221 328452 32769 X false true X true false false false true 168150 107146 107146 42037 65109 220000 220000 895086 291379 603707 431238 263101 168137 991844 INVESTMENT- DEALER SERVICES 978646 C 978646 DUE TO AFFILIATE 1068815 1068815 X 4358427 328452 252499 580951 3777476 3777476 3431986 235906 235906 3196080 15171 1004 16175 3212255 SCHEDULE D, PAGE 3, PART X THE ASSOCIATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAX UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. HOWEVER, THE ASSOCIATION IS SUBJECT TO FEDERAL AND STATE CORPORATE INCOME TAXES ON ITS UNRELATED BUSINESS INCOME GENERATED FROM ACTIVITIES NOT SPECIFICALLY RELATED TO ITS TAX-EXEMPT PURPOSE. MANAGEMENT IS UNAWARE OF ANY UNCERTAIN TAX POSITIONS AS OF SEPTEMBER 30, 2024 AND 2023. INTEREST AND PENALTIES, IF ANY, ASSOCIATED WITH INCOME TAX MATTERS WOULD BE PRESENTED AS COMPONENTS OF INCOME TAX EXPENSE. THERE WERE NO INTEREST OR PENALTY CHARGES DURING 2024 OR 2023. SCHEDULE D, PAGE 4, PART XI, LINE 2D SUBSIDIARY INCOME 268,674 INVESTMENT FEES -15,171 MISC. INCOME -1,004 SCHEDULE D, PAGE 4, PART XII, LINE 2D SUBSIDIARY EXPENSES 235,905 ROUNDING ADJUSTMENT 1 SCHEDULE D, PAGE 4, PART XII, LINE 4B MISCELLANEOUS INCOME 1,004 true SCHOLARSHIPS 79 88935 CASH DISASTER ASSISTANCE 11 11800 CASH SCHEDULE I, PAGE 1, PART I, LINE 2 THE EDUCATION COMMITTEE MONITORS THE ASSOCIATION'S SCHOLARSHIP PROGRAM TO ENSURE IT FOLLOWS THE ASSOCIATION'S WRITTEN GUIDELINES FOR THE PROGRAM. THE NUMBER OF 1,500 SCHOLARSHIPS IS DETERMINED ANNUALLY BY THE EDUCATION COMMITTEE AND BOARD OF DIRECTORS BASED ON THE AVAILABILITY OF FUNDS. IF SCHOLARSHIP REQUESTS EXCEED THE AVAILABLE NUMBER OF SCHOLARSHIPS, AWARDS ARE MADE BY A RANDOM DRAWING. EMPLOYEES OR POTENTIAL EMPLOYEES OF THE ASSOCIATION'S MEMBER DEALERSHIPS ARE ELIGIBLE FOR THE SCHOLARSHIP IF THEY ARE APPROVED BY THE DEALERSHIP, ACCEPTED OR ENROLLED IN HIGHER EDUCATION CURRICULUM AND THE DEALERSHIP IS WILLING TO PROVIDE MATCHING FUNDS IN THE AMOUNT OF 1,500. ONE SCHOLARSHIP PER DEALERSHIP WILL BE AWARDED, UNLESS EXCESS FUNDS ARE AVAILABLE AFTER THE INITIAL ROUND OF AWARDS. ALL PAYMENTS TO OTHER OUTSIDE ORGANIZATIONS ARE MONITORED BY IOWA-NEBRASKA FARM EQUIPMENT ASSOCIATION, INC. false false false MARK HENNESSEY CEO 204394 22000 2521 32805 16705 278425 PHILIP ERDMAN DIR OF DEALER RELAT 139049 17304 1702 23630 31809 213494 TOM JUNGE IA FIELD DIRECTOR 138429 14100 2692 23118 28585 206924 CINDY FELDMAN MARKETING DIRECTOR 113477 15000 258 18821 10747 158303 SCHEDULE J, PART III THE EXECUTIVE DIRECTOR AND FIELD DIRECTORS ARE PAID BY A RELATED ORGANIZATION. THE ORGANIZATION USES THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE CEO - - FORM 990 OF OTHER ORGANIZATIONS - COMPENSATION SURVEY OR STUDY - APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE FORM 990 PART IX, LINE 24A - LINE 24A CONTAINS AN EXPENSE CALLED "PAYROLL - 3RD PARTY." ALL EMPLOYEES ARE PAID FROM FARM EQUIPMENT DEALER SERVICE, INC., A RELATED ENTITY. IF IOWA-NEBRASKA FARM EQUIPMENT ASSOCIATION, INC. WOULD HAVE FILED W-2'S UNDER THEIR OWN EIN, PAGE 10 OF THE FORM 990 WOULD HAVE BEEN REPORTED AS: LINE 5 COMPENSATION OF CURRENT OFFICERS: 290,957 LINE 7 OTHER SALARIES AND WAGES: 879,965 LINE 8 PENSION PLAN ACCRUAL AND CONTRIBUTIONS: 125,849 LINE 9 OTHER EMPLOYEE BENEFITS: 109,836 FORM 990, PAGE 6, PART VI, LINE 6 THE ASSOCIATION HAS TWO KINDS OF MEMBERS, REGULAR AND ASSOCIATE. AN INDIVIDUAL, PARTNERSHIP OR CORPORATION REGULARLY ENGAGED IN THE RETAIL FARM, INDUSTRIAL, CONSTRUCTION OR LAWN AND GARDEN EQUIPMENT BUSINESS IN THE STATES OF IOWA AND NEBRASKA, AND IN ADJACENT STATES, CARRYING A STOCK OF FARM INDUSTRIAL, CONSTRUCTION, OR LAWN AND GARDEN EQUIPMENT REPAIR PARTS, AND MAINTAINING A SERVICE DEPARTMENT COMMENSURATE WITH THE DEMANDS OF THE COMMUNITY IN WHICH THE BUSINESS IS LOCATED SHALL BE ELIGIBLE FOR REGULAR MEMBERSHIP UPON PAYMENT OF DUES. ANY INDIVIDUAL OR ENTITY AFFLIATED WITH THE MANUFACTURING OR DISTRIBUTION OF MERCHANDISE USUALLY HANDLED BY REGULAR MEMBERS OR PROVIDES SERVICES FOR REGULAR MEMBERS AND WHO IS WILLING TO COOPERATE WITH THE ASSOCIATION SHALL BE ELIGIBLE FOR ASSOCIATE OR CORPORATE ASSOCIATE MEMBERSHIP UPON PAYMENT OF DUES. FORM 990, PAGE 6, PART VI, LINE 7A THE PAST CHAIRMAN SHALL SEND A NOMINATING BALLOT TO THE MEMBERS OF EACH STATE IN WHICH AN ELECTION IS TO OCCUR. UPON RETURN OF THE BALLOTS FROM THE MEMBERS, THE PAST CHAIRMAN SHALL THEN MAIL AN ELECTION BALLOT TO EACH MEMBER IN THE VOTING STATE. THE RESULTS OF THE ELECTION SHALL BE ANNOUNCED AT THE NEXT ANNUAL MEETING. FORM 990, PAGE 6, PART VI, LINE 11B A COPY OF THE 990 IS PROVIDED TO THE BOARD MEMBERS FOR REVIEW. IT IS THEN DISCUSSED AT THE FALL BOARD MEETING WHERE A RESOLUTION TO APPROVE THE 990 IS COMPLETED. FORM 990, PAGE 6, PART VI, LINE 12C IOWA-NEBRASKA FARM EQUIPMENT ASSOCIATION'S OFFICERS AND DIRECTORS WILL ANNUALLY DISCLOSE OR UPDATE TO THE CHAIRMAN OF THE BOARD OF DIRECTORS THEIR INTERESTS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. THE CHAIRMAN WILL DETERMINE WHETHER TO (1) TAKE NO ACTION; (2) ASSURE FULL DISCLOSURE TO THE BOARD OF DIRECTORS AND OTHER INDIVIDUALS COVERED BY THIS POLICY; (3) ASK THE PERSON TO RECUSE FROM PARTICIPATION IN RELATED DISCUSSIONS; OR (4) ASK THE PERSON TO RESIGN FROM HIS OR HER POSITION. THE PRESIDENT/CEO WILL MONITOR PROPOSED OR ONGOING TRANSACTIONS FOR CONFLICTS OF INTEREST AND DISCLOSE THEM TO THE CHAIRMAN OF THE BOARD OF DIRECTORS IN ORDER TO DEAL WITH POTENTIAL OR ACTUAL CONFLICTS. FORM 990, PAGE 6, PART VI, LINE 15A EXECUTIVE COMPENSATION IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE, WHO ARE INDEPENDENT FOR COMPENSATION PURPOSES, AND COMPARISONS ARE MADE WITH DATA FROM OUTSIDE SURVEYS AND STUDIES. FORM 990, PAGE 6, PART VI, LINE 19 THE ASSOCIATION MAKES ITS DOCUMENTS AVAILABLE TO THE MEMBERS AND THE PUBLIC UPON REQUEST. THE ASSOCIATION WILL REVIEW THE DOCUMENTS WITH THE MEMBER REQUESTING THEM. THE GENERAL PUBLIC MAY COME TO THE ASSOCIATION'S OFFICE AND REVIEW THE DOCUMENTS. THESE DOCUMENTS ARE AVAILABLE FOR THE SAME PERIOD OF TIME AS DESCRIBED IN INTERNAL REVENUE CODE SECTION 6104(D) FOR OTHER PUBLIC DISCLOSURE DOCUMENTS. FORM 990, PART XI, LINE 9 INCOME FROM SUBSIDIARY 32,769 FARM EQUIPMENT DEALER SERVICE INC 8330 NW 54TH AVE JOHNSTON IA 50131 420800636 ENDORSE IA IA-NE FARM C CORP 32769 1334229 1.00000 true false false false false false false false false false false false false true true true false true false false FARM EQUIPMENT DEALER SERVICE INC O 1492184 CASH FARM EQUIPMENT DEALER SERVICE INC Q 90691 CASH SCHEDULE R PART V, LINE 2 - ALL OTHER TRANSACTIONS WITH RELATED PARTY FALL UNDER THE 50,000 REPORTING THRESHHOLD.