Catfish Institute
- Assets
- $3.2m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 2
- Location
- Madison, MS
- Founding
- 09/1987
- Data as of
- 12/2023
- EIN
- 64-0729771
Organization Overview
Catfish Institute is located in Madison, MS. The organization was established in 1987. 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 12/2023, Catfish Institute employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catfish Institute 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 12/2023, Catfish Institute generated $2.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $2.1m during the year ending 12/2023. While expenses have increased by 2.8% 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 AND DEVELOP THE FARM-RAISED CATFISH INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CATFISH INSTITUTE, INC. PLAYS AN INTEGRAL PART IN THE ADVERTISING AND PROMOTION OF FARM RAISED CATFISH. THROUGH ITS EFFORTS, ALL CATFISH FARMERS BENEFIT FROM A BROADER MARKETING AREA IN THE U.S.A. AND IN THE WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dean Kiker Director | Trustee | 5 | $0 |
Harry Simmons Chairman | OfficerTrustee | 10 | $0 |
George Smelley Director | Trustee | 5 | $0 |
Bubba Drury Director | Trustee | 5 | $0 |
Andrew Stainback Director | Trustee | 5 | $0 |
Andy Jones Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Ramey Agency Trade Consultant | 12/30/23 | $749,511 |
Catfish Farmers Of America Lobbyist | 12/30/23 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,950,188 |
| 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 | $1,950,188 |
| Total Program Service Revenue | $0 |
| Investment income | $78,119 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,270 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,029,577 |
| 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. | $142,500 |
| Compensation of current officers, directors, key employees. | $142,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $77,500 |
| Pension plan accruals and contributions | $5,588 |
| Other employee benefits | $0 |
| Payroll taxes | $16,970 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,624,680 |
| Office expenses | $13,995 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $68,405 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $550 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,800 |
| Insurance | $17,303 |
| All other expenses | $9,861 |
| Total functional expenses | $2,062,725 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,091,853 |
| 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 | $61,200 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,153,053 |
| 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 | $38,340 |
| Total liabilities | $38,340 |
| Net assets without donor restrictions | $0 |
| 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 | $3,114,713 |
| Total liabilities and net assets/fund balances | $3,153,053 |