North Carolina Soybean Producers
- Assets
- $5.6m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 5
- Location
- Raleigh, NC
- Founding
- 11/1968
- Data as of
- 08/2023
- EIN
- 56-0887931
Organization Overview
North Carolina Soybean Producers is located in Raleigh, NC. The organization was established in 1968. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 08/2023, North Carolina Soybean Producers employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Soybean Producers 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 Soybean Producers generated $2.5m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 21.1% each year . All expenses for the organization totaled $2.0m during the year ending 08/2023. While expenses have increased by 5.6% per year over the past 4 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 2021, North Carolina Soybean Producers has awarded 16 individual grants totaling $1,864,445. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF SOYBEANS THROUGH EDUCATION, RESEARCH, AND DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION OF NORTH CAROLINA PRODUCTION OF SOYBEANS THROUGH EDUCATION, RESEARCH, AND DEVELOPMENT
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mcpherson Soypac Chair | Trustee | 0 | $0 |
Reginald Strickland Usb Director | Trustee | 0 | $0 |
Collin Smithson Director | Trustee | 0 | $0 |
Derek Potter Usb Director | Trustee | 0 | $0 |
Jimmy Thomas Asa Director | Trustee | 0 | $0 |
Reggie Baker Executive Director | Trustee | 0 | $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 | $2,413,968 |
| Investment income | $25,053 |
| 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 | $2,484,273 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $827,079 |
| 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. | $152,718 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $229,893 |
| Pension plan accruals and contributions | $41,997 |
| Other employee benefits | $22,087 |
| Payroll taxes | $29,456 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $38,357 |
| Advertising and promotion | $0 |
| Office expenses | $20,295 |
| Information technology | $15,775 |
| Royalties | $0 |
| Occupancy | $30,550 |
| Travel | $19,849 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $202,381 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $45,550 |
| Insurance | $0 |
| All other expenses | $31,393 |
| Total functional expenses | $1,989,637 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,423,457 |
| 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 | $6,792 |
| Net Land, buildings, and equipment | $912,340 |
| Investments—publicly traded securities | $304,919 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,647,508 |
| 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 | $17,097 |
| Total liabilities | $17,097 |
| Net assets without donor restrictions | $5,630,411 |
| 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 | $5,647,508 |
Grants Awarded
Over the last fiscal year, North Carolina Soybean Producers has awarded $697,652 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
PROTECH ADVISORY SERVICES PURPOSE: RESEARCH | $17,560 |
IMPACT AGRONOMICS INC PURPOSE: RESEARCH | $17,560 |
TIDEWATER AGRONOMICS PURPOSE: RESEARCH | $23,170 |
NC STATE UNIVERSITY PURPOSE: RESEARCH | $621,802 |
FOWLER CROP CONSULTING INC PURPOSE: RESEARCH | $17,560 |