Nonprofit · EIN 42-1268754
IOWA BUSINESS COUNCIL
Tax-exempt · DES MOINES, IA 50309
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $580,198 | $546,453 | $33,745 | $797,372 | $0 | $797,372 |
| December 31, 2024 | 990 | $604,510 | $499,255 | $105,255 | $763,627 | $0 | $763,627 |
| December 31, 2023 | 990 | $580,587 | $436,083 | $144,504 | $659,426 | $1,054 | $658,372 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $560,000
- Investment income
- $12,474
- Net rental income
- $7,724
- Other revenue
- $7,724
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $326,614
- Salaries, compensation and benefits (total)
- $422,420
- Professional fundraising fees
- $0
- Accounting fees
- $21,300
- Occupancy
- $44,322
- Travel
- $6,143
Balance sheet and other
- Total assets, start of year
- $763,627
- Total assets, end of year
- $797,372
- Total liabilities, end of year
- $0
- Net assets, end of year
- $797,372
- Net assets without donor restrictions
- $797,372
- Gross receipts
- $586,652
- Employees
- 2
- Volunteers
- 70
- Year formed
- 1985
- State of legal domicile
- IA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOE MURPHY | EXC DIRECTOR, SECRETARY Officer | 40 | $292,000 | $34,614 |
| JILL KLINDT | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| GAGE A KENT | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RAJ KALATHUR | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| MAY FARLINGER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ROB FEENEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DARREN REBELEZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| PHIL JASPER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JUDD O'CONNER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| REYNOLDS CRAMER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JEFF LORENGER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JEREMY GOSCH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ADAM GREGG | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BOB RITZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KELCEY BROWN | TRUSTEE Trustee or director | 1 | $0 | $0 |
8 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| TIM YAGGI | TRUSTEE Trustee or director | 1 | $0 |
| DEANNA STRABLE | TRUSTEE Trustee or director | 1 | $0 |
| BEN MCLEAN | TRUSTEE Trustee or director | 1 | $0 |
| SCOTT KIZER | TRUSTEE Trustee or director | 1 | $0 |
| JASON ANDRINGA | TRUSTEE Trustee or director | 1 | $0 |
| MIKE TOUSLEY | TRUSTEE Trustee or director | 1 | $0 |
| CORY HARRIS | TRUSTEE Trustee or director | 1 | $0 |
| DAN HOUSTON END JUNE | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended December 31, 2024: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOE MURPHY | EXC DIRECTOR, SECRETARY Officer | 40 | $250,125 | $37,130 |
| JOHN K SORENSEN | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| PHIL JASPER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| GAGE A KENT | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| TERRY KOUBA | TRUSTEE (THRU MAR 2024) Trustee or director | 1 | $0 | $0 |
| MAY FARLINGER | TRUSTEE (START MAR 2024) Trustee or director | 1 | $0 | $0 |
| ROB FEENEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DARREN REBELEZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TIM GLENN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RAJ KALATHUR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| REYNOLDS CRAMER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JEFF LORENGER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JEREMY GOSCH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BOB RITZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KELCEY BROWN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TIM YAGGI | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DAN HOUSTON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BEN MCLEAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JASON ANDRINGA | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MIKE TOUSLEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CORY HARRIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARK MEYER | TRUSTEE (THRU MAR 2024) Trustee or director | 1 | $0 | $0 |
| JILL KLINDT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| SCOTT KIZER | TRUSTEE Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOE MURPHY | EXC DIRECTOR, SECRETARY Officer | 40 | $233,258 | $35,061 |
| JOHN K SORENSEN | TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| PHIL JASPER | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| GAGE A KENT | VICE CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| BENJAMIN J MCLEAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| REYNOLDS W CRAMER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RANDY EDEKER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DANIEL J HOUSTON | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TIM GLENN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| BOB RITZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MIKE TOUSLEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JEFF LORENGER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TERRY KOUBA | TRUSTEE Trustee or director | 1 | $0 | $0 |
| DARREN REBELEZ | TRUSTEE Trustee or director | 1 | $0 | $0 |
| RAJ KALATHUR | TRUSTEE Trustee or director | 1 | $0 | $0 |
| KELCEY BROWN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| CLAY HOLDERMAN | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JASON ANDRINGA | TRUSTEE Trustee or director | 1 | $0 | $0 |
| TIM YAGGI | CHAIR Trustee or director | 1 | $0 | $0 |
| CORY HARRIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JILL KLINDT | TRUSTEE Trustee or director | 1 | $0 | $0 |
| MARK MEYER | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 100 E GRAND AVE STE 220, DES MOINES, IA 50309-1810
- In care of
- % JOEMURPHY
- Principal officer (990 for 2025)
- JOE MURPHY, 100 E GRAND AVENUE 220, DES MOINES, IA 50309
- Signed the 990
- JOE MURPHY, EXECUTIVE DIRECTOR
- Phone
- (515) 246-1700
- Website
- WWW.IOWABUSINESSCOUNCIL.COM
- Return prepared by
- CREATIVE PLANNING TAX LLC
Mission
THE MISSION OF THE IOWA BUSINESS COUNCIL IS TO ENGAGE THE PERSONAL COMMITMENT OF ITS EXECUTIVE MEMBERS IN ACTIVE LEADERSHIP ROLES ON MAJOR INITIATIVES THAT OFFER OPPORTUINITIES TO ENHANCE IOWA'S OVERALL ECONOMIC VITALITY.
Program accomplishments
- REGULARLY ASSEMBLED EXECUTIVES FROM MAJOR IOWA CORPORATIONS AND UNIVERSITIES TO DISCUSS ENHANCEMENT OF THE BUSINESS ENVIRONMENT IN IOWA. ORGANIZED PROGRAMS ATTENDED BY OVER 200 PEOPLE.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 42-1268754
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 1987
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $797,372
- Income (IRS master file)
- $586,652
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $580,198 | $546,453 | $797,372 | XML |
| 990 | December 2024 | $604,510 | $499,255 | $763,627 | IRS |
| 990 | December 2023 | $580,587 | $436,083 | $659,426 | XML |
| 990 | December 2022 | $549,818 | $475,944 | $520,373 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-1268754).
Questions about IOWA BUSINESS COUNCIL
- What is the EIN of IOWA BUSINESS COUNCIL?
- The employer identification number (EIN) of IOWA BUSINESS COUNCIL is 42-1268754.
- Is IOWA BUSINESS COUNCIL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 1987.
- Are donations to IOWA BUSINESS COUNCIL tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does IOWA BUSINESS COUNCIL file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of IOWA BUSINESS COUNCIL due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did IOWA BUSINESS COUNCIL last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of IOWA BUSINESS COUNCIL?
- The 990 for the year ended December 31, 2025 names JOE MURPHY.
- Who are the officers and directors of IOWA BUSINESS COUNCIL?
- The 990 for the year ended December 31, 2025 lists 23 people; 1 received compensation from the organization, the highest $292,000 (JOE MURPHY, EXC DIRECTOR, SECRETARY).
- How much revenue does IOWA BUSINESS COUNCIL have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $580,198, expenses of $546,453 and total assets of $797,372 at year end.
Other nonprofits in DES MOINES
- WELLS FARGO & COMPANY EMPLOYEE BENEFIT TRUST EIN 41-1340042 · last filed 990 for 2024
- CENTRAL IOWA HOSPITAL CORPORATION EIN 42-0680452 · last filed 990 for 2024
- CATHOLIC HEALTH INITIATIVES-IOWA CORP EIN 42-0680448 · last filed 990 for 2025
- DRAKE UNIVERSITY EIN 42-0680460 · last filed 990 for 2025
- COMMUNITY FDN OF GREATER DES MOINES EIN 42-6139033 · last filed 990 for 2024
- WELLS FARGO & COMPANY SHORT TERM DISABILITY PLAN & TRUST EIN 84-1749555 · last filed 990 for 2025
- THE PRINCIPAL TRUST FOR HEALTH BENS FOR EES AND NON-MEDICARE ELIG RETS EIN 42-1364494 · last filed 990 for 2024
- GRAND VIEW UNIVERSITY EIN 42-0681049 · last filed 990 for 2025