North Carolina Cotton Producers Assocation Inc
- Assets
- $1.2m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Nashville, NC
- Founding
- 11/1959
- Data as of
- 08/2023
- EIN
- 56-0661805
Organization Overview
North Carolina Cotton Producers Assocation Inc is located in Nashville, NC. The organization was established in 1959. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Cotton Producers Assocation 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 08/2023, North Carolina Cotton Producers Assocation Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $999.8k during the year ending 08/2023. While expenses have increased by 4.7% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, EDUCATE AND PERFORM RESEARCH CONCERNING THE GROWTH OF COTTON AND THE USE OF COTTON PRODUCTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OF THE 1.00 PER BALE ASSESSMENT COLLECTED, 55 CENTS IS PAID TO THE NATIONAL COTTON COUNCIL WHICH PROMOTES COTTON AND COTTON PRODUCTS NATIONALLY.
SPECIAL PROMOTIONS TO DO RESEARCH AND OFFER EDUCATIONAL PROGRAMS ON GROWTH AND THE USE OF COTTON PRODUCTS. NEWSLETTERS ARE PREPARED TO EDUCATE ABOUT COTTON AND COTTON PRODUCTS AND ITS USES. FIELD DAY PROVIDES A PROMOTIONAL OPPORTUNITY FOR COTTON FARMERS.
OF THE 1.00 PER BALE ASSESSMENT COLLECTED, 10 CENTS IS PAID TO THE SOUTHERN COTTON GROWERS TO PROMOTES COTTON AND COTTON PRODUCTS IN THE SOUTHEAST REGION.
AG ALLIANCE OF NC AND GIN AUDITS PERFORM RESEARCH RELATING TO COTTON YIELD AND QUALITY AND THE SAFE AND EFFECTIVE USE OF CHEMICALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Parrish CEO | Officer | 40 | $73,450 |
Kent Smith President | Officer | $0 | |
Chris Sawyer Vice Preside | Officer | $0 | |
David Underwood Secretary | Officer | $0 | |
Brad Warren Past Preside | Officer | $0 | |
Rob Fleming Treasurer | Officer | $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 | $1,036,240 |
| Investment income | $33,508 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$11,886 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,057,862 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $70,000 |
| 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. | $77,566 |
| Compensation of current officers, directors, key employees. | $58,174 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $16,962 |
| Other employee benefits | $9,536 |
| Payroll taxes | $5,934 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,812 |
| Fees for services: Lobbying | $4,042 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,260 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $462 |
| Information technology | $1,940 |
| Royalties | $0 |
| Occupancy | $21,936 |
| Travel | $36,371 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,858 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,128 |
| Insurance | $1,671 |
| All other expenses | $28,155 |
| Total functional expenses | $999,775 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $76,268 |
| Savings and temporary cash investments | $369,784 |
| 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 | $53,623 |
| Investments—publicly traded securities | $659,829 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,817 |
| Total assets | $1,162,321 |
| 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 | $7,774 |
| Total liabilities | $7,774 |
| Net assets without donor restrictions | $1,154,547 |
| 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 | $1,162,321 |
Grants Awarded
Over the last fiscal year, North Carolina Cotton Producers Assocation Inc has awarded $70,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
NC AGRICULTURAL FOUNDATION INC PURPOSE: PLANT SCIENCE RESEAR | $20,000 |
NC AGRICULTURAL FOUNDATION INC PURPOSE: ENDOW PROFESSORSHIP | $50,000 |