Illinois Corn Marketing Board
- Assets
- $11.6m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomington, IL
- Founding
- 04/1992
- Data as of
- 09/2022
- EIN
- 37-1135507
Organization Overview
Illinois Corn Marketing Board is located in Bloomington, IL. The organization was established in 1992. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Corn Marketing Board is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 09/2022, Illinois Corn Marketing Board generated $11.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.0% each year. All expenses for the organization totaled $15.0m during the year ending 09/2022. While expenses have increased by 1.9% per year over the past 7 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, Illinois Corn Marketing Board has awarded 118 individual grants totaling $32,805,268. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE RESEARCH, MARKET DEVELOPMENT AND EFFICIENT MARKETS FOR ILLINOIS CORN AND CORN PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INDUSTRIAL PROGRAMS - IDENTIFY ACTIVITIES RELATIVE TO ADVANCING INDUSTRIAL USES OF CORN INVOLVING PUBLIC EDUCATION, MARKET DEVELOPMENT AND RESEARCH, INVEST CHECK-OFF FUNDS IN THOSE PROJECTS AND EVALUATE THE IMPACT OF EACH INVESTMENT.
EXPORT PROGRAMS - IDENTIFY FOREIGN AND DOMESTIC EXPORT ACTIVITIES, INVEST CHECK-OFF FUNDS IN ACTIVITIES APPROVED BY THE BOARD OF DIRECTORS, AND EVALUATE THE IMPACT GENERATED BY EACH INVESTMENT.
EXECUTIVE PROGRAMS - PROVIDE SPONSORSHIP OF AGRICULTURE RELATED ORGANIZATIONS. ALSO PARTICIPATE IN EDUCATIONAL AND PROMOTIONAL ACTIVITIES WITHIN THE AGRICULTURAL COMMUNITY.
COMMUNICATIONS PLAN - COOPERATE WITH MAJOR AGRICULTURAL ORGANIZATIONS ON STATE, NATIONAL, AND INTERNATIONAL MARKET DEVELOPMENT EFFORTS, AND DISSEMINATE TIMELY INFORMATION. ALSO INFORM AND EDUCATE CORN PRODUCERS AND PUBLIC ABOUT PROJECTS AND PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Reed Chairman | OfficerTrustee | $0 | |
Jon Rosenstiel Vice Chairma | OfficerTrustee | $0 | |
Tim Thompson Secretary | OfficerTrustee | $0 | |
Jeff Scates Treasurer | OfficerTrustee | $0 | |
Dan Cole Director | Trustee | $0 | |
Art Bunting Director | Trustee | $0 |
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 | $11,840,467 |
| Investment income | $48,790 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,889,515 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,784,109 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,044,623 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | -$36,428 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,900 |
| Fees for services: Accounting | $21,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $83,445 |
| Information technology | $30,638 |
| Royalties | $0 |
| Occupancy | $30,338 |
| Travel | $95,268 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $103,658 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,254 |
| Insurance | $30,910 |
| All other expenses | $0 |
| Total functional expenses | $15,031,600 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $11,268,657 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,757 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $218,394 |
| Net Land, buildings, and equipment | $12,178 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,900 |
| Total assets | $11,624,886 |
| Accounts payable and accrued expenses | $1,151,078 |
| 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 | $1,335,000 |
| Total liabilities | $2,486,078 |
| Net assets without donor restrictions | $9,138,808 |
| 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 | $11,624,886 |
Grants Awarded
Over the last fiscal year, Illinois Corn Marketing Board has awarded $1,784,109 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
Bloomington, IL PURPOSE: PROGRAM FUNDING | $500,000 |
Urbana, IL PURPOSE: BIOFUELS RESEARCH | $400,000 |
Urbana, IL PURPOSE: PLANT BREEDING | $198,850 |
Chicago, IL PURPOSE: E85 CONTRIBUTION | $155,000 |
SIUE-NAT'L CORN TO ETHANOL RESEARCH PURPOSE: FUNDING | $150,259 |
Normal, IL PURPOSE: AG PROGRAM FUNDING | $150,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Illinois Corn Marketing Board has recieved totaling $25,600.
| Awarding Organization | Amount |
|---|---|
Nature Conservancy Arlington, VA PURPOSE: CONSERVATION ACTIVITIES | $15,000 |
Minnesota Corn Growers Association Burnsville, MN PURPOSE: Education & Awareness | $10,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Soybean Association St Louis, MO | $22,612,610 | $31,372,473 |
Iowa Corn Promotion Board Johnston, IA | $28,871,996 | $24,524,776 |
Iowa Corn Growers Association Johnston, IA | $20,295,827 | $19,989,952 |
National Corn Growers Association Chesterfield, MO | $16,422,383 | $19,831,099 |
Midwest Oper Engineers Construction Industry Research & Serv Tr Fund Countryside, IL | $12,085,029 | $17,769,884 |
Illinois Soybean Board Bloomington, IL | $24,441,630 | $21,800,549 |
Food Export Association Of The Midwest Usa Chicago, IL | $3,109,779 | $15,548,836 |
Illinois Corn Marketing Board Bloomington, IL | $11,624,886 | $11,889,515 |
Kentucky Farm Bureau Federation Louisville, KY | $26,799,792 | $14,351,168 |
Illinois Farm Business Farm Management Association Urbana, IL | $13,036,050 | $15,163,165 |
Indiana Farm Bureau Indianapolis, IN | $22,690,251 | $11,074,675 |
National Swine Registry West Lafayette, IN | $2,564,738 | $7,027,546 |