Southern Cotton Ginners Assoc
- Assets
- $2.8m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Memphis, TN
- Founding
- 10/1969
- Data as of
- 03/2023
- EIN
- 62-0794049
Organization Overview
Southern Cotton Ginners Assoc is located in Memphis, TN. The organization was established in 1969. 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 03/2023, Southern Cotton Ginners Assoc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southern Cotton Ginners Assoc 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 03/2023, Southern Cotton Ginners Assoc generated $1.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $1.2m during the year ending 03/2023. While expenses have increased by 2.5% 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
EDUCATION AND PROMOTION OF INDUSTRY
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION AND SAFETY TRAINING OF MEMBERS AND PROMOTION OF COTTON GINNING INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sammy Angel Chair | OfficerTrustee | 1 | $0 |
Sledge Taylor Treasurer | OfficerTrustee | 1 | $0 |
Timothy Price Executive VP | Officer | 45 | $168,973 |
Tom Calloway President Sc | OfficerTrustee | 2 | $0 |
Sam Whitaker President | OfficerTrustee | 0.75 | $0 |
Adam Martin 1st VP - Ar | OfficerTrustee | 0.75 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $454,487 |
| 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 | $454,487 |
| Total Program Service Revenue | $663,053 |
| Investment income | $61,645 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,315 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,706 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,238,617 |
| 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. | $173,197 |
| Compensation of current officers, directors, key employees. | $43,299 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,285 |
| Pension plan accruals and contributions | $38,043 |
| Other employee benefits | $0 |
| Payroll taxes | $27,992 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,584 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $6,060 |
| Advertising and promotion | $13,308 |
| Office expenses | $22,875 |
| Information technology | $4,885 |
| Royalties | $0 |
| Occupancy | $19,755 |
| Travel | $120,544 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,215 |
| Insurance | $49,268 |
| All other expenses | $134,576 |
| Total functional expenses | $1,168,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $905,851 |
| Savings and temporary cash investments | $140,871 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,379 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,636 |
| Prepaid expenses and deferred charges | $2,588 |
| Net Land, buildings, and equipment | $90,776 |
| Investments—publicly traded securities | $1,591,022 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,938 |
| Total assets | $2,789,061 |
| Accounts payable and accrued expenses | $362 |
| 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 | $29,888 |
| Total liabilities | $30,250 |
| Net assets without donor restrictions | $2,758,811 |
| 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 | $2,789,061 |