American Soybean Association
- Assets
- $458.0k
- Revenue
- $475.9k
- Investments
- $0.0
- Employees
- 3
- Location
- Jackson, TN
- Founding
- 10/1992
- Data as of
- 06/2021
- EIN
- 62-1470823
Organization Overview
American Soybean Association is located in Jackson, TN. The organization was established in 1992. 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 06/2021, American Soybean Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Soybean Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2021, American Soybean Association generated $475.9k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $327.7k during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MANAGEMENT & PROMOTION OF SOYBEAN PRODUCTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AGENCY PROMOTES THE USE OF SOYBEANS TO CONSUMERS & PROVIDES MANAGEMENT FOR THE TENNESSEE SOYBEAN PROMOTION BOARD, A STATE AGENCY. THIS ACTIVITY BENEFITS 100,000 PLUS FARMERS IN TENNESSEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Parks Wells Executive Di | Officer | $0 | |
Jason Cherry Secretary | Trustee | $0 | |
John H Dodson Past Chair | Trustee | $0 | |
Steve May Director | Trustee | $0 | |
Alan Meadows Director | Trustee | $0 | |
Johnny Verell Vice-Chair | Trustee | $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 | $475,687 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $475,687 |
| Total Program Service Revenue | $0 |
| Investment income | $242 |
| 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 | $475,929 |
| 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 | $195,009 |
| Pension plan accruals and contributions | $3,500 |
| Other employee benefits | $0 |
| Payroll taxes | $16,154 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,336 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,443 |
| Advertising and promotion | $39,038 |
| Office expenses | $13,089 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,212 |
| Travel | $21,273 |
| 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 | $2,354 |
| Insurance | $2,209 |
| All other expenses | $0 |
| Total functional expenses | $327,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $447,518 |
| Savings and temporary cash investments | $0 |
| 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 | $10,502 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $458,020 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $458,020 |
| 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 | $458,020 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Soybean Association St Louis, MO | $22,612,610 | $31,372,473 |
Food Allergy Research & Education Inc Mclean, VA | $49,740,343 | $11,947,289 |
Georgia Federal-State Shipping Point Inspection Service Inc Albany, GA | $23,696,147 | $20,421,637 |
National Corn Growers Association Chesterfield, MO | $16,422,383 | $19,831,099 |
Arkansas Farm Bureau Federation Little Rock, AR | $66,846,371 | $16,311,552 |
North Carolina Farm Bureau Federation Inc Raleigh, NC | $43,526,522 | $15,980,144 |
Kentucky Farm Bureau Federation Louisville, KY | $26,799,792 | $14,351,168 |
Farm Bureau Federation Mississippi Jackson, MS | $25,935,364 | $15,464,290 |
Montgomery Academy Inc Montgomery, AL | $22,347,255 | $11,005,286 |
Georgia Farm Bureau Federation Macon, GA | $39,904,441 | $13,619,773 |
Virginia Farm Bureau Federation Inc Richmond, VA | $53,446,193 | $7,940,484 |
Tennessee Farm Bureau Federation Columbia, TN | $127,985,651 | $12,173,337 |