Agricultural Alumni Seed Improvement Association Inc
- Assets
- $34.7m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 89
- Location
- Romney, IN
- Founding
- 06/1939
- Data as of
- 10/2023
- EIN
- 35-0869399
Organization Overview
Agricultural Alumni Seed Improvement Association Inc is located in Romney, IN. The organization was established in 1939. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 10/2023, Agricultural Alumni Seed Improvement Association Inc employed 89 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Agricultural Alumni Seed Improvement Association Inc is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 10/2023, Agricultural Alumni Seed Improvement Association Inc generated $5.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $4.4m during the year ending 10/2023. While expenses have increased by 8.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Agricultural Alumni Seed Improvement Association Inc has awarded 18 individual grants totaling $4,805,847. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A NATIONWIDE MEDIUM FOR THE ADVANCEMENT AND IMPROVEMENT OF AGRICULTURE THROUGH RESEARCH, PRODUCTION, TESTING, AND SALE OF CERTAIN SEED LINES AND SEED HYBRIDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AGRICULTURAL ALUMNI SEED IMPROVEMENT ASSOCIATION (AG ALUMNI SEED) HAS WORKED HARD TO GAIN ITS LEADERSHIP POSITION IN THE DEVELOPMENT AND RELEASE OF HIGH PERFORMANCE POPCORN HYBRIDS. WITH THIS POSITION COMES THE RESPONSIBILITY TO PUT ALL OUR AVAILABLE RESOURCES TO WORK IN THE CONTINUATION OF THE WORK THAT'S MADE US WHAT WE ARE TODAY. FROM THE GROUND-BREAKING WORK THAT HAS OCCURRED SINCE 1938, AG ALUMNI SEED HAS ESTABLISHED ITSELF AS THE WORLD'S LEADING SUPPLIER OF HIGH PERFORMING, HIGH QUALITY POPCORN HYBRIDS. IN ADDITION, AG ALUMNI SEED WORKS TO PROMOTE EDUCATION AND RESEARCH ACTIVITIES WITH COOPERATING AGENCIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Vice Chairman | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary/treasurer | OfficerTrustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Name Not Listed Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Garcia & Garcia Contracting Farm Labor Contractor | 10/30/23 | $413,335 |
Devault Farms Contract Seed Corn Production | 10/30/23 | $202,356 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $55,060 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $694,601 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $25,124 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,001,204 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,954,940 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $269,589 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $696,428 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,289,781 |
| Pension plan accruals and contributions | $114,409 |
| Other employee benefits | $28,372 |
| Payroll taxes | $119,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,484 |
| Fees for services: Accounting | $28,706 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,978 |
| Advertising and promotion | $108,794 |
| Office expenses | $192,565 |
| Information technology | $14,266 |
| Royalties | $0 |
| Occupancy | $196,065 |
| Travel | $286,829 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,612 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $225,282 |
| All other expenses | $114,140 |
| Total functional expenses | $4,355,889 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,704 |
| Savings and temporary cash investments | $4,442,869 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,924,425 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $8,308,368 |
| Prepaid expenses and deferred charges | $156,452 |
| Net Land, buildings, and equipment | $14,706,967 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,166,118 |
| Total assets | $34,715,903 |
| Accounts payable and accrued expenses | $1,098,681 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $166,641 |
| Total liabilities | $1,265,322 |
| Net assets without donor restrictions | $33,450,581 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $34,715,903 |
Grants Awarded
Over the last fiscal year, Agricultural Alumni Seed Improvement Association Inc has awarded $269,589 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PURDUE AGRICULTURAL ALUMNI ASSOCIATION PURPOSE: TO SUPPORT RESEARCH AND OPERATIONS | $25,309 |
PURDUE UNIVERSITY PURPOSE: TO SUPPORT RESEARCH AND OPERATIONS | $244,280 |