Rio Farms Incorporated
- Assets
- $65.0m
- Revenue
- $5.9m
- Investments
- $0.0
- Employees
- 15
- Location
- Edcouch, TX
- Founding
- 07/1958
- Data as of
- 08/2021
- EIN
- 74-1002714
Organization Overview
Rio Farms Incorporated is located in Edcouch, TX. The organization was established in 1958. 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 08/2021, Rio Farms Incorporated employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rio Farms Incorporated is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 08/2021, Rio Farms Incorporated generated $5.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $2.4m during the year ending 08/2021. 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
THE BETTERMENT OF THE CONDITION PURSUITS IMPROVING THE GRADE OF THEIR AGRI PRODUCTS & DEVELOPMENT OF A HIGHER DEGREE OF EFFICIENCY IN THE AGRICULTURE COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE YEAR RIO FARMS INC PERFORMED VARIOUS AGRICULTURAL RESEARCH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matt Klostermn Pres/genmgr | Officer | 40 | $155,000 |
Lance Neuhaus Chairman | OfficerTrustee | 1 | $12,000 |
Bob Stewart Vice Chairman | OfficerTrustee | 1 | $12,000 |
Jack Harbison Secretary | OfficerTrustee | 1 | $12,000 |
Glenn Wilde Director | Trustee | 1 | $12,000 |
Barry Dickerso Director | Trustee | 1 | $12,000 |
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 | $3,442,394 |
| Investment income | $551,050 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $141,341 |
| Net Rental Income | $1,495,120 |
| Net Gain/Loss on Asset Sales | $248,448 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,878,353 |
| 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. | $215,000 |
| Compensation of current officers, directors, key employees. | $215,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $404,933 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $46,230 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,630 |
| Fees for services: Accounting | $14,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $81,662 |
| Fees for services: Other | $46,874 |
| Advertising and promotion | $0 |
| Office expenses | $15,953 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,000 |
| Travel | $1,888 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,656 |
| Interest | $97,903 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $445,182 |
| Insurance | $175,189 |
| All other expenses | $194,705 |
| Total functional expenses | $2,376,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $823,254 |
| Savings and temporary cash investments | $815,043 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,303,449 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $951,341 |
| Inventories for sale or use | $610,320 |
| Prepaid expenses and deferred charges | $81,981 |
| Net Land, buildings, and equipment | $43,074,287 |
| Investments—publicly traded securities | $15,555,050 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,782,377 |
| Total assets | $64,997,102 |
| Accounts payable and accrued expenses | $37,604 |
| 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 | $12,679,622 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $234,810 |
| Total liabilities | $12,952,036 |
| Net assets without donor restrictions | $52,045,066 |
| 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 | $64,997,102 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Farm Bureau Waco, TX | $1,072,770,797 | $25,839,501 |
Arkansas Farm Bureau Federation Little Rock, AR | $66,846,371 | $16,311,552 |
Textile Exchange Lamesa, TX | $12,297,668 | $16,219,596 |
National Reined Cow Horse Association Pilot Point, TX | $5,326,422 | $10,193,097 |
Southern United States Trade Association Susta New Orleans, LA | $3,093,143 | $7,251,421 |
Louisiana Farm Bureau Federation Inc Baton Rouge, LA | $75,119,133 | $8,594,309 |
Mclennan County Fair Inc Waco, TX | $8,076,032 | $10,500,101 |
Agricultural Development Fund Fort Worth, TX | $1,257,000 | $6,712,594 |
Louisiana Quarter Horse Breeders Association Alexandria, LA | $10,986,998 | $7,601,612 |
National Finance Credit Corp Of Tx Fort Worth, TX | $196,184,500 | $9,101,860 |
Texas Quarter Horse Association Elgin, TX | $5,419,371 | $4,846,350 |
Bayou Sugar Growers Inc Carencro, LA | $1,179 | $4,490,376 |