Wisconsin Soybean Marketing Board Inc
- Assets
- $9.3m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, WI
- Founding
- 03/1984
- Data as of
- 08/2022
- EIN
- 39-1471066
Organization Overview
Wisconsin Soybean Marketing Board Inc is located in Madison, WI. The organization was established in 1984. 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. Wisconsin Soybean Marketing Board 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 08/2022, Wisconsin Soybean Marketing Board Inc generated $7.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $5.9m during the year ending 08/2022. While expenses have increased by 5.9% 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, Wisconsin Soybean Marketing Board Inc has awarded 18 individual grants totaling $5,354,051. 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
DOMESTIC AND FOREIGN MARKET DEVELOPMENT, RESEARCH & EDUCATION, AND PROJECTS THAT DEVELOP NEW MARKETS OR IMPROVE EXISTING METHODS OF RAISING AND USING SOY. PERSONS BENEFITED INCLUDE THE STATE OF WISCONSIN PRODUCERS AND NATIONAL PRODUCERS AND CONSUMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTIONS, MEETINGS, DONATIONS, SUPPORT PROJECTS, WISHH PROJECT, BIODIESEL PROGRAM, CLEAN CITIES PROGRAM, SOY SENTINEL MAGAZINE, AND TRADE TEAM SPONSORS.
MISCELLANEOUS EXPENSES TO MAINTAIN THE PROGRAM SERVICES, SUCH AS PRINTING, POSTAGE, OFFICE SUPPLIES, STAFFING, AND RENT.
RESEARCH AT UW-MADISON IN MADISON, WISCONSIN AND AT NORTH CENTRAL RESEARCH IN IOWA.
PAYMENTS TO UNITED SOYBEAN BOARD IN MISSOURI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Mullooly President | Officer | 5 | $0 |
Jonathan Gibbs Secretary-Treasurer | Officer | 5 | $0 |
Andy Bensend Vice President | Officer | 2 | $0 |
Justin Bauer Director | Trustee | 1 | $0 |
Robert Karls Executive Director | Trustee | 20 | $0 |
Kevin Bork Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Discover Mediaworks Inc Communications | 8/30/21 | $104,375 |
Allied Cooperative Nematode Testing | 8/30/21 | $104,905 |
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 | $7,478,310 |
| Investment income | $10,892 |
| 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 | $7,489,309 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,101,556 |
| 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 | $0 |
| Pension plan accruals and contributions | $210,629 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $198,847 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $24,839 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,012 |
| Advertising and promotion | $0 |
| Office expenses | $2,899 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $11,755 |
| Travel | $63,633 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,345 |
| All other expenses | $88,063 |
| Total functional expenses | $5,913,022 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,285,571 |
| Savings and temporary cash investments | $50 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,285,621 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $9,285,621 |
| 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 | $9,285,621 |
Grants Awarded
Over the last fiscal year, Wisconsin Soybean Marketing Board Inc has awarded $1,101,556 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF WISCONSIN MADISON PURPOSE: Soybean reseach | $523,648 |
Ankeny, IA PURPOSE: Soybean research | $383,333 |
Jefferson City, MO PURPOSE: Soybean research & promotion | $97,306 |
Mankato, MN PURPOSE: Conference & plan sponsorships | $57,000 |
St Louis, MO PURPOSE: World initiative for soy in human health | $25,000 |
Chesterfield, MO PURPOSE: Soybean Research | $15,269 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Illinois Farm Business Farm Management Association Urbana, IL | $13,036,050 | $15,163,165 |
Michigan Farm Bureau Lansing, MI | $21,991,749 | $13,489,298 |
Michigan Dairymens Market Program Novi, MI | $2,715,772 | $11,716,586 |
Minnesota Corn Growers Association Burnsville, MN | $3,976,064 | $6,629,781 |
National Snaffle Bit Association Inc Gurnee, IL | $5,863,990 | $6,575,627 |
Seed Savers Exchange Inc Decorah, IA | $8,340,832 | $6,859,116 |
Wisconsin Soybean Marketing Board Inc Madison, WI | $9,285,621 | $7,489,309 |
Agricultural Utilization Research Institute Crookston, MN | $5,866,335 | $5,389,230 |