Food Processing Suppliers Association
- Assets
- $17.0m
- Revenue
- $346.5k
- Investments
- $0.0
- Employees
- 7
- Location
- Mclean, VA
- Founding
- 06/2006
- Data as of
- 12/2023
- EIN
- 52-0630464
Organization Overview
Food Processing Suppliers Association, operating under the name Fpsa, is located in Mclean, VA. The organization was established in 2006. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Fpsa employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fpsa is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Fpsa generated $346.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (30.4%) each year. All expenses for the organization totaled $2.8m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR GOAL IS TO PROVIDE MEMBERS WITH NETWORKING, MARKETING AND EDUCATIONAL OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRADE SHOW: PROCESS EXPO, A TRADE SHOW HELD EVERY OTHER YEAR IN ODD NUMBERED YEARS, IS THE FOOD PROCESSING INDUSTRY'S PREMIER EVENT IN WHICH BUYERS AND SELLERS DEVELOP RELATIONSHIPS AND EXPLORE NEW TECHNOLOGIES AND CAPABILITIES. DURING EVEN NUMBERED YEARS, THE ASSOCIATION RECORDS PERSONNEL AND OTHER OFFICE COSTS RELATED TO THE TRADE SHOW AS EXPENSE IN THE YEAR IN WHICH THE COSTS ARE INCURRED.
COUNCILS AND NETWORKS ARE IMPORTANT PROGRAMS FOR MEMBERS. THEY PROVIDE THE VENUE FOR MEMBERS TO DEVELOP GREATER INSIGHT AND KNOWLEDGE OF THE ISSUES AND OPPORTUNITIES WITHIN SPECIFIC INDUSTRY SECTORS.
CONFERENCES: THE ANNUAL CONFERENCE PROVIDES MEMBERS WITH INVALUABLE NETWORKING AND LEARNING OPPORTUNITIES. THE SALES CONFERENCE IS AN EDUCATIONAL FORUM FOR SALES PROFESSIONALS OF THE ASSOCIATION'S MEMBER COMPANIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Perkins Chairman | OfficerTrustee | 1 | $0 |
Matt Malott Past Chair | OfficerTrustee | 1 | $0 |
Jarrod Mccarroll Chair - Membership Committee | OfficerTrustee | 1 | $0 |
Gill Williams Chair - Fit Inc. | OfficerTrustee | 1 | $0 |
Erik Brainard Treasurer | OfficerTrustee | 1 | $0 |
Kate Rome Director At Large | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ges Event Management | 12/30/19 | $1,559,754 |
Csg Creative Marketing | 12/30/19 | $669,487 |
Mccormick Place Exhibit Hall | 12/30/19 | $538,686 |
The Growth Co Marketing | 12/30/19 | $237,724 |
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 | $69,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $69,000 |
| Total Program Service Revenue | $25,602 |
| Investment income | $251,859 |
| 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 | $346,461 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $467 |
| 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. | $1,069,989 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $438,726 |
| Pension plan accruals and contributions | $7,598 |
| Other employee benefits | $175,836 |
| Payroll taxes | $59,844 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $40,382 |
| Fees for services: Accounting | $32,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,049 |
| Fees for services: Other | $177,216 |
| Advertising and promotion | $0 |
| Office expenses | $51,638 |
| Information technology | $34,209 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $107,934 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $447,055 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,829 |
| Insurance | $23,367 |
| All other expenses | $0 |
| Total functional expenses | $2,803,859 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $68,999 |
| Savings and temporary cash investments | $784,024 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $55,118 |
| 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 | $164,229 |
| Net Land, buildings, and equipment | $74,855 |
| Investments—publicly traded securities | $10,797,158 |
| Investments—other securities | $0 |
| Investments—program-related | $3,489,651 |
| Intangible assets | $0 |
| Other assets | $1,590,725 |
| Total assets | $17,024,759 |
| Accounts payable and accrued expenses | $473,680 |
| Grants payable | $0 |
| Deferred revenue | $295,526 |
| 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 | $769,206 |
| Net assets without donor restrictions | $16,255,553 |
| 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 | $17,024,759 |
Grants Awarded
Over the last fiscal year, Food Processing Suppliers Association has awarded $18,348 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
REGENTS OF THE UNIVERSITY OF CALIFORNIA DAVIS PURPOSE: GENERAL SUPPORT | $9,174 |
MICHIGAN STATE UNIVERSITY PURPOSE: GENERAL SUPPORT | $9,174 |