Sprouting Farms Corp
- Assets
- $1.8m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 26
- Location
- Talcott, WV
- Founding
- 09/2017
- Data as of
- 12/2022
- EIN
- 81-3566706
Organization Overview
Sprouting Farms Corp is located in Talcott, WV. The organization was established in 2017. 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 12/2022, Sprouting Farms Corp employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sprouting Farms Corp is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Sprouting Farms Corp generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 74.3% each year . All expenses for the organization totaled $1.4m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO WORK WITH LOCAL FARMERS, AND TO EXPAND MARKETS FOR THEIR PRODUCTS, INCLUDING SALES TO SCHOOLS AND LOCAL FARMERS MARKETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING NEW & EXISTING FARM BUSINESSES & INCREASING LOCAL FOOD PRODUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
April Koenig Executive Director | 40 | $39,487 | |
Jacob T Flexer Executive Director | 40 | $19,846 | |
Bethany Lewis Board Member | Trustee | 2 | $0 |
Kathryn Cox Board Member | Trustee | 2 | $0 |
Mary Legg Board Member | Trustee | 2 | $0 |
Spencer Moss Vice President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,050,871 |
| All other contributions, gifts, grants, and similar amounts not included above | $186,538 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,237,409 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $241,942 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,479,351 |
| 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. | $59,333 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $468,576 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $85,037 |
| Payroll taxes | $40,385 |
| 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 | $97,143 |
| Advertising and promotion | $491 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $600 |
| Travel | $17,352 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $253 |
| Interest | $21,427 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,424 |
| Insurance | $0 |
| All other expenses | $104,635 |
| Total functional expenses | $1,418,542 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $540,107 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $556,011 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,509 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $717,387 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,816,014 |
| Accounts payable and accrued expenses | $254,991 |
| Grants payable | $0 |
| Deferred revenue | $51,932 |
| 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 | $499,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $806,823 |
| Net assets without donor restrictions | $957,259 |
| Net assets with donor restrictions | $51,932 |
| 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 | $1,816,014 |