Iowa U.S. House members report mixed financial success in 2010
CEDAR RAPIDS – Financially, the past year was a mixed bag for Iowa’s U.S. House delegation.
Rep. Tom Latham
While two members saw their portfolios improve, others reported losses or no gain in financial disclosure reports for calendar 2010 recently filed with the Clerk of the House.
Every spring, members must disclose several aspects of their personal finances for the previous year — but only in broad dollar ranges. To see the Iowans’ reports click here.
For example, 4th District Rep. Tom Latham, an Ames Republican and the wealthiest member of the Iowa House delegation, reported the value of his assets increased from a range of $2,496,013-$8,167,000 in 2009 to $2,562,013-$10,281,000 in 2010.
Rep. Dave Loebsack
Members of Congress are required to disclose assets bought and sold, the value of their publicly and non-publicly traded assets, significant debts, honoraria given to charities, gifts and trips received from outside sources and income sources for their spouses.
Items that don’t have to be disclosed include the value of their homes, cars and other property from which no income is received. They also don’t have to list their congressional salaries — $174,000.
Rep. Bruce Braley
For Iowa’s House members, it appears that salary still makes up the bulk of their salaries. Eastern Iowa Democratic Reps. Bruce Braley and Dave Loebsack reported 2010 incomes from their assets in ranges topping out at $13,100 and $39,100, respectively.
Loebsack reported his assets declined in value from a range of $230,019-$800,000 to $228,017-$770,000 in 2010. Braley’s assets increased from $201,019-$665,000 to $206,016-$530,000.
Rep. Leonard Boswell
Third District Rep. Leonard Boswell, a Des Moines Democrat who has farmland and equipment, and cattle, reported his assets increase to a range of $700,003-$$1,500,000. Boswell’s report included income of $5,001-$15,000 from a cell tower on his property.
Fifth District Rep. Steve King, a Kiron Republican, continued to report the least assets and income.
Rep. Steve King
His assets remained steady in the $130,003-$350,000 range with income – from a construction business and his Iowa Public Employees Retirement System accounts – in the $15,403-$52,000 range.
To put the Iowans’ net worth into perspective, in its 2009 ranking of the wealth of all 535 members of Congress, the Center for Responsive Politics, a non-partisan research organization, listed Latham as the 115th wealthiest member of Congress, Boswell as 308th, Loebsack as 419th, Braley as 443rd and King as 506th.
Iowa Sens. Tom Harkin, a Cumming Democrat, and Chuck Grassley, a New Hartford Republican, are listed as the 48th wealthiest and 139th wealthiest members of Congress, respectively.
Senators file paper-only reports that are not available online.
| Assets | Value | Income | |
| King, Steve | King Construction | $100,001-250,000 | $15,001-50,000 |
| IPERS | $15,001-50 | $201-1,000 | |
| IPERS | $15,001-50,000 | $201-1,000 | |
| Ranges | $130,003-350,000 | $15,403-52,000 | |
| Latham, Tom | Modderman Farm | $500,001-1,000,000 | $15,001-50,000 |
| Latimer Farm | $250,001-500,000 | $15,001-50,000 | |
| Blom Farm | $250,001-500,000 | $5,001-15,000 | |
| 401k | $15,001-50,000 | ??????????? | |
| IRA | $15,001-50,000 | NA | |
| Bank, Adel | $1,000,001-$5,000,000 | None | |
| Congressional Federal Credit Union | $1,001-15,000 | $1-200 | |
| Bank, Adel | $250,001-500,000 | None | |
| Bank, Clarion | $250,001-500,000 | $201-1,000 | |
| Farm Buildings | $15,001-50,000 | $2,501-5,000 | |
| Latimer Farms | $15,001-50,000 | None | |
| Smith-Barney | $1,001-15,000 | $1-200 | |
| Alexander Holding | $1-1,000 | None | |
| Ranges | $2,562,013-10,281,000 | $37,707-115,900 | |
| Leonard Boswell | |||
| Ag Land | $500,001-1,000,000 | NA | |
| Farm Equipment | $100,001-250,000 | NA | |
| Breeding Stock-Cattle | $100,001-250,000 | $5,001-15,000 | |
| Cell Tower | NA | $5,001-15,000 | |
| Ranges | $700,003-1,500,000 | $10,002-$30,000 | |
| Loebsack, Dave | |||
| CREF | $1,001-15,000 | $201-1,000 | |
| CREF | $1,001-15,000 | $201-1,000 | |
| CREF | $15,001-50,000 | $1,001-2,500 | |
| CREF | $15,001-50,000 | $2,501-5,000 | |
| CREF | $1,001-15,000 | $1-200 | |
| CREF | $15,001-50,000 | $1,001-2,500 | |
| TC Lifecycle | $100,001-250,000 | $5,001-15,000 | |
| TC Lifecycle | $15,001-50,000 | $2,501-5,000 | |
| TIAA | $1,001-15,000 | $201-1,000 | |
| TIAA | $15,001-50,000 | $1,001-2,500 | |
| Vanguard | $1,001-15,000 | $201-1,000 | |
| Vanguard | $1,001-15,000 | $1,001-2,500 | |
| Vanguard | $1,001-15,000 | $201-1,000 | |
| Vanguard | $1,001-15,000 | $1-200 | |
| Vanguard | $15,001-50,000 | $1-200 | |
| Vanguard | $15,001-50,000 | $1,001-2,500 | |
| Vanguard | $15,001-50,000 | $201-1,000 | |
| Ranges | $228,017-770,000 | $15,216-39,100 | |
| Braley | |||
| Pepsico | $50,001-100,000 | $1,001-2,500 | |
| Amana | $1,001-15,000 | $1-200 | |
| Columbia | $1,001-15,000 | $1-200 | |
| Davis NY | $1,001-15,000 | $1-200 | |
| Europacific | $15,001-50,000 | $201-1,000 | |
| American Funds | $1,001-15,000 | $1-200 | |
| Hartford | $1,001-15,000 | None | |
| Ivy Funds Pacific | $1,001-15,000 | None | |
| Lazard | $1,001-15,000 | $1-200 | |
| Loomis Sayles | $1,001-15,000 | $201-1,000 | |
| Neuberger Berman | $15,001-50,000 | $1-200 | |
| Pimco | $1,001-15,000 | $201-1,000 | |
| Templeton | $1,001-15,000 | $201-1,000 | |
| Thornburg | $15,001-50,000 | $1-200 | |
| Insured Bank | $1,001-15,000 | $1-200 | |
| Baron | None | None | |
| Gateway Trust | None | None | |
| JP Morgan | None | None | |
| T Rowe Price | None | None | |
| Equity Compass | $100,001-250,000 | $2,501-5,000 | |
| Ranges | $206,016-530,000 | $4,314-13,100 | |
