Longhorn Institute Of Food Technologists Inc
- Assets
- $112.3k
- Revenue
- $204.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Highland Village, TX
- Founding
- 06/1992
- Data as of
- 08/2023
- EIN
- 75-2423270
Organization Overview
Longhorn Institute Of Food Technologists Inc is located in Highland Village, TX. The organization was established in 1992. According to its NTEE Classification (K99) the organization is classified as: Food, Agriculture & Nutrition N.E.C., under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Longhorn Institute Of Food Technologists Inc 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 08/2023, Longhorn Institute Of Food Technologists Inc generated $204.9k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 7.6% each year. All expenses for the organization totaled $227.4k during the year ending 08/2023. While expenses have increased by 7.5% per year over the past 4 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
PROVIDE FOOD SCIENCE AND ENGINEERING SUPPORT TO INDUSTRY AND UNIVERSITIES AT ALL LEVELS, FROM FARM TO FORK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD EXPO WHICH INCLUDES A GOLF TOURNAMENT FUNDRAISER, UNIVERSITY RESEARCH POSTER COMPETITION, TECHNICAL SESSIONS, AND VENDOR EXPO. TECHNICAL PRESENTATIONS COVER A WIDE VARIETY OF TOPICS OF INTEREST TO FOOD PROFESSIONALS. THE VENDOR EXPO IS TABLE-TOP PRESENTATIONS (240+ BOOTHS) WITH INGREDIENT SUPPLIERS, UNIVERSITIES, TECHNICAL SERVICES (ANALYTICAL, ENVIRONMENTAL, KOSHER, ETC), PRODUCT DEVELOPMENT, AND MANUFACTURING. RESEARCH POSTER SESSION FROM TEXAS UNIVERSITIES WITH SCHOLARSHIP AWARDS. ATTENDED BY 800+ FOOD INDUSTRY PROFESSIONALS AND IS FREE TO ATTENDEES WITH FOOD AND BEVERAGES PROVIDED. PRIMARY REVENUE GENERATOR FOR THE ORGANIZATION (BOOTH FEES, GOLF TOURNAMENT). 2023 EVENT WAS HELD OCTOBER 12, 2023, BUT A SIGNIFICANT AMOUNT OF THE SITE EXPENSE WAS PAID LATE FY 22/23. THIS MADE IT APPEAR THAT THE EVENT LOST MONEY.
DINNER MEETINGS WITH SPEAKER. HELD 2ND THURSDAY OF EVERY MONTH AROUND THE LIFT TERRITORY. ENTAILS SOCIAL HOUR, DINNER, AND A SPEAKER. BRINGS TOGETHER FOOD INDUSTRY PROFESSIONALS TO DISCUSS ISSUES, THE MARKET PLACE, AND IMPROVE THE TECHNICAL AWARENESS OF THE MEMBERSHIP. IN DECEMBER A HOLIDAY PARTY IS HELD FOR MEMBERSHIP.
FOOD SCIENCE EDUCATION SUPPORT. FOOD SCIENCE PRESENTATIONS TO HIGH SCHOOLS AND UNIVERSITIES. SCHOLARSHIPS TO FOOD SCIENCE UNDERGRADUATES AT TEXAS UNIVERSITIES. SPONSOR & HOST THE IFT SOUTH CENTRAL COLLEGE BOWL. HAVE A YOUNG PROFESSIONAL'S GROUP AND MENTORSHIP PROGRAM. $6000 IN SCHOLARSHIPS AWARDED TO TEXAS A&M AND TEXAS TECH FOOD SCIENCE UNDERGRADS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Benton Genus Chair | Officer | 4 | $0 |
Viviana Rushton Past Chair | Officer | 2 | $0 |
Megan Halphen Chair Elect | Officer | 2 | $0 |
Richard Metivier Treasurer | Officer | 2 | $0 |
Ally Iwanski Secretary | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,900 |
| 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 | $5,900 |
| Total Program Service Revenue | $195,722 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,319 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $204,943 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $219,759 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $251 |
| Office expenses | $82 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $794 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $493 |
| All other expenses | $0 |
| Total functional expenses | $227,379 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $102,292 |
| Savings and temporary cash investments | $10,044 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $112,336 |
| 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 | $112,336 |
| 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 | $112,336 |