American Cotton Shippers Association
- Assets
- $6.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 4
- Location
- Memphis, TN
- Founding
- 04/1931
- Data as of
- 12/2022
- EIN
- 62-0113620
Organization Overview
American Cotton Shippers Association is located in Memphis, TN. The organization was established in 1931. According to its NTEE Classification (H99) the organization is classified as: Medical Research N.E.C., under the broad grouping of Medical Research and related organizations. As of 12/2022, American Cotton Shippers Association employed 4 individuals. This organization is the central organization for a national or regional group of organizations. American Cotton Shippers Association 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 12/2022, American Cotton Shippers Association generated $1.1m 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 (8.2%) each year. All expenses for the organization totaled $2.9m during the year ending 12/2022. 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
THE AMERICAN COTTON SHIPPERS ASSOCIATION WAS ORGANIZED ON JULY 8, 1924 TO PROVIDE A UNITED VOICE FOR THE COTTON MERCHANDISING TRADE OF THE UNITED STATES. ACSA IS COMPRISED OF MERCHANTS, PRIMARY BUYERS AND MILL SERVICE AGENTS WHO ARE MEMBERS OF FOUR FEDERATED ASSOCIATIONS LOCATED THROUGHOUT THE COTTON BELT: ATLANTIC COTTON ASSOCIATION SOUTHERN COTTON ASSOCIATION TEXAS COTTON ASSOCIATION WESTERN COTTON SHIPPERS ASSOCIATION ACSA'S MEMBER FIRMS HANDLE OVER 80% OF THE U.S. COTTON SOLD IN DOMESTIC AND FOREIGN MARKETS. THE SIGNIFICANT MARKET INVOLVEMENT OF ACSA MEMBERS REQUIRES THAT THE ASSOCIATION TAKE AN ACTIVE PART IN PROMOTING THE INCREASED USE OF COTTON IN THE U.S. AND THROUGHOUT THE WORLD; ESTABLISHING WITH OTHER COTTON TRADE ORGANIZATIONS NATIONAL AND INTERNATIONAL STANDARDS FOR TRADE; COLLABORATING WITH PRODUCER ORGANIZATIONS THROUGHOUT THE COTTON BELT IN FORMULATING FARM PROGRAMS; AND COOPERATING WITH GOVERNMENT AGENCIES IN THE ADMINISTRATION OF SUCH PROGRAMS. COTTON MERCHANTS AT EVE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION EXISTS TO PROTECT AND ENHANCE THE COTTON MERCHANDISING INDUSTRY.
THE ORGANIZATION EXISTS TO PROTECT AND ENHANCE THE COTTON MERCHANDISING INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Barksdale Chairman | Trustee | $0 | |
Cory Barnes Director | Trustee | $0 | |
Sam Clay Director | Trustee | $0 | |
Raymond Faus Director | Trustee | $0 | |
Richard Clarke III Director | Trustee | $0 | |
Jeff Johnson Director | Trustee | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Delta Strategy Group Consultant | 12/30/21 | $133,455 |
The Macon Edwards Company Consultant | 12/30/21 | $132,504 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,883,152 |
| 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 | $1,883,152 |
| Total Program Service Revenue | $0 |
| Investment income | -$1,210,410 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $151,145 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,058,722 |
| 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 | $579,155 |
| Pension plan accruals and contributions | $28,108 |
| Other employee benefits | $61,821 |
| Payroll taxes | $28,373 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60,000 |
| Fees for services: Accounting | $20,863 |
| Fees for services: Lobbying | $265,008 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,012 |
| Fees for services: Other | $64,326 |
| Advertising and promotion | $240,927 |
| Office expenses | $77,770 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $60,143 |
| Travel | $49,956 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $530,594 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,502 |
| Insurance | $6,927 |
| All other expenses | $37,121 |
| Total functional expenses | $2,910,775 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $204,167 |
| Savings and temporary cash investments | $34,680 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $97,482 |
| 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 | $42,150 |
| Investments—publicly traded securities | $5,511,856 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $158,944 |
| Total assets | $6,049,279 |
| 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 | $9,736 |
| Total liabilities | $9,736 |
| Net assets without donor restrictions | $6,039,543 |
| 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 | $6,049,279 |