South Dakota Soybean Association
- Assets
- $841.0k
- Revenue
- $618.8k
- Investments
- $0.0
- Employees
- 6
- Location
- Sioux Falls, SD
- Founding
- 12/1983
- Data as of
- 06/2022
- EIN
- 46-0373309
Organization Overview
South Dakota Soybean Association is located in Sioux Falls, SD. The organization was established in 1983. According to its NTEE Classification (Y05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 06/2022, South Dakota Soybean Association employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Dakota Soybean Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2022, South Dakota Soybean Association generated $618.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $522.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE COMPETITIVENESS AND PROFITABILITY FOR SOUTH DAKOTA SOYBEAN FARMER THROUGH POLICY AND EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR ENDING JUNE 30, 2022, THE SOUTH DAKOTA SOYBEAN ASSOCIATION MAINTAINED ITS MEMBERSHIP WITH COMMUNICATION AND EDUCATIONAL PROGRAMS: 1) SDSA DID A TRADE SHOW, AG OUTLOOK, WHICH INCLUDED APPROXIMATELY 600 PRODUCERS FROM THE TRI-STATE AREA. THE ONE DAY EVENT INCLUDED 77 VENDOR BOOTHS AND INFORMATIONAL SPEAKERS. INFORMATION PROVIDED PERTAINED TO AGRICULTURAL MARKETING AND ECONOMIC TRENDS.2) A GOLF/NETWORKING EVENT WHICH INCLUDED 142 AREA PRODUCERS AND SALES REPRESENTATIVES. EDUCATIONAL DISPLAYS WERE USED TO PROVIDE INFORMATION REGARDING SOYBEANS. 3) THE SOYBEAN LEADER MAGAZINE IS A PUBLICATION WHICH SDSA DISTRIBUTES TO THE SOUTH DAKOTA SOYBEAN PRODUCERS. APPROXIMATELY 20,500 COPIES OF THE PUBLICATION WERE SENT OUT QUARTERLY, FOR A TOTAL OF 4 TIMES DURING THE YEAR. ARTICLES INCLUDED NEW USES FOR SOYBEANS, TRENDS, RESEARCH, DISEASE, AND OTHER INFORMATION REGARDING SOYBEANS. ADDITIONALLY, SDSA CONTINUED WORKING TO RESEARCH AND DEVELOP WAYS TO IMPROVE THE MARKETING OF SOYBEAN PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerome Schmitz Executive Director | Officer | 4.4 | $1,944 |
Jordan Scott President | OfficerTrustee | 1 | $0 |
Kevin Deinert 1st Vice President | OfficerTrustee | 1 | $0 |
Jeff Thompson 2nd Vice President | OfficerTrustee | 1 | $0 |
Drew Peterson Secretary | OfficerTrustee | 1 | $0 |
Brent Greenway Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,000 |
| Related organizations | $0 |
| Government grants | $58,728 |
| 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 | $60,728 |
| Total Program Service Revenue | $544,048 |
| Investment income | $1,516 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $12,489 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $618,781 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $2,099 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $45,058 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,579 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $500 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,042 |
| Advertising and promotion | $73,593 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $32,105 |
| Travel | $7,691 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,243 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $87,165 |
| Total functional expenses | $522,789 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $653,325 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $187,133 |
| 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 | $493 |
| 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 | $840,951 |
| Accounts payable and accrued expenses | $26,780 |
| Grants payable | $0 |
| Deferred revenue | $89,152 |
| 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 | $115,932 |
| Net assets without donor restrictions | $725,019 |
| 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 | $840,951 |