Plains Cotton Growers Inc
- Assets
- $8.3m
- Revenue
- $1.3m
- Investments
- $84.5k
- Employees
- 5
- Location
- Lubbock, TX
- Founding
- 08/1957
- Data as of
- 06/2024
- EIN
- 75-0938875
Organization Overview
Plains Cotton Growers Inc is located in Lubbock, TX. The organization was established in 1957. 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 06/2024, Plains Cotton Growers Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Plains Cotton Growers Inc is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2024, Plains Cotton Growers Inc generated $1.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $1.5m during the year ending 06/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
IMPROVEMENT & SUPPORT OF COTTON ON THE HIGH PLAINS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLAINS COTTON GROWERS PROVIDES EDUCATIONAL AND LEGISLATIVE SUPPORT FOR COTTON PRODUCTION AND USAGE ON THE HIGH PLAINS OF TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kody Bessent CEO | Officer | 40 | $125,000 |
Martin Stoerner Chairman | Officer | 0 | $0 |
Brent Nelson Past President | Officer | 0 | $0 |
Travis Mires President | Officer | 0 | $0 |
Brent Coker Vice President | Officer | 0 | $0 |
Jon Jones Secretary/treas | Officer | 0 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $568,820 |
| Investment income | $561,571 |
| 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 | $1,268,435 |
| 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. | $125,000 |
| Compensation of current officers, directors, key employees. | $125,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $390,209 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $32,971 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,202 |
| Office expenses | $26,220 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $82,514 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $52,735 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,714 |
| Insurance | $10,676 |
| All other expenses | $100,011 |
| Total functional expenses | $1,527,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $447,118 |
| Savings and temporary cash investments | $3,650,403 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,480 |
| 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 | $1,007,406 |
| Investments—publicly traded securities | $3,146,155 |
| Investments—other securities | $84,531 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,938 |
| Total assets | $8,348,031 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $490,500 |
| 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 | $10 |
| Total liabilities | $490,510 |
| Net assets without donor restrictions | $4,193,926 |
| Net assets with donor restrictions | $3,663,595 |
| 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 | $8,348,031 |