Virginia Crop Improvement Association Inc
- Assets
- $3.7m
- Revenue
- $7.0k
- Investments
- $438.5k
- Employees
- 9
- Location
- Mechanicsville, VA
- Founding
- 06/1944
- Data as of
- 11/2023
- EIN
- 54-0542791
Organization Overview
Virginia Crop Improvement Association Inc is located in Mechanicsville, VA. The organization was established in 1944. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 11/2023, Virginia Crop Improvement Association Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Crop 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 11/2023, Virginia Crop Improvement Association Inc generated $7.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (30.2%) each year. All expenses for the organization totaled $265.8k during the year ending 11/2023. 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
THE ASSOCIATION PRODUCES, CERTIFIES AND SELLS CERTIFIED SEED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCTION AND CERTIFICATION OF SEEDS AND OTHER MATERIALS FOR PLANT PROPAGATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Pollock President | OfficerTrustee | 1 | $0 |
Franklin Hundley Vice President | OfficerTrustee | 1 | $0 |
Westley Drake Director | Trustee | 1 | $0 |
Andrew Darden Director | Trustee | 1 | $0 |
Henry Goodrich Director | Trustee | 1 | $0 |
Dr Joshua Mott Director | Trustee | 1 | $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 | $0 |
| Investment income | $5,353 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $28,268 |
| 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 | -$91,483 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,009 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $25,866 |
| Other employee benefits | $26,775 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,782 |
| Office expenses | $3,837 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,756 |
| Interest | $0 |
| Payments to affiliates | $11,263 |
| Depreciation, depletion, and amortization | $143,373 |
| Insurance | $2,316 |
| All other expenses | $0 |
| Total functional expenses | $265,827 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $496,609 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $165,638 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $373,955 |
| Prepaid expenses and deferred charges | $82,095 |
| Net Land, buildings, and equipment | $2,107,865 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $438,506 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,664,668 |
| Accounts payable and accrued expenses | $120,154 |
| Grants payable | $0 |
| Deferred revenue | $833 |
| 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 | $139,960 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $260,947 |
| Net assets without donor restrictions | $3,403,721 |
| 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 | $3,664,668 |