National Industrial Hemp Council
- Assets
- $0.0
- Revenue
- $815.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Washington, DC
- Founding
- Data as of
- 12/2023
- EIN
- 83-3928316
Organization Overview
National Industrial Hemp Council, operating under the name National Industrial Hemp Council of America, is located in Washington, DC. According to its NTEE Classification (K03) the organization is classified as: Professional Societies & Associations, 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. National Industrial Hemp Council of America 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, National Industrial Hemp Council of America generated $815.4k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 46.1% each year . All expenses for the organization totaled $480.0k during the year ending 12/2023. While expenses have increased by 14.0% per year over the past 5 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
THE NATIONAL INDUSTRIAL HEMP COUNCIL OF AMERICA [NIHC] EXISTS TO PROMOTE THE PRODUCTION AND USE OF HEMP BOTH IN NORTH AMERICA AND AROUND THE WORLD. WE REPRESENT THE NORTH AMERICAN INDUSTRIAL HEMP INDUSTRY WITHIN ITS HOME MARKET, AND WE ARE GLOBAL ADVOCATES FOR ITS SUSTAINABLE LONG-TERM GROWTH AND PROFITABILITY. WE ASSIST MEMBERS TO ENTER THE INDUSTRY, EDUCATE CONSUMERS ON THE APPLICATIONS AND ADVANTAGES OF INDUSTRIAL HEMP AND ENABLE NETWORKING AND THE SHARING OF OUR RESOURCES. BACKED BY THE US GOVERNMENT, OUR SENIOR TEAM COMPRISES INTERNATIONAL, FEDERAL, STATE, PRIVATE INDUSTRY, AND GOVERNMENT PROFESSIONALS FROM ACROSS THE AGRICULTURE AND BUSINESS SECTORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NIHC HELD ITS ANNUAL BUSINESS SUMMIT, A REMARKABLE EVENT BRINGING TOGETHER THE HEMP INDUSTRY'S LEADING BUSINESS, LEGAL, AND REGULATORY FIGURES FOR PIVOTAL DISCUSSIONS ABOUT DEVELOPMENTS IN THE WORLD OF HEMP. THE SUMMIT PROVIDES EDUCATIONAL AND NETWORKING OPPORTUNITIES FOR THOSE CURRENTLY IN OR SOON TO BE ENTERING THE INDUSTRIAL HEMP INDUSTRY.
THE FOREIGN AGRICULTURAL SERVICE (FAS) OF THE US DEPARTMENT OF AGRICULTURE AWARDED A GRANT TO NIHCOA UNDER THE TECHNICAL ASSISTANCE FOR SPECIALTY CROPS PROGRAM (TASC 06) TO TO CONDUCT LIFE CYCLE INVENTORIES AND LIFE CYCLE ASSESSMENTS TO ESTABLISH A COMPARATIVE INDEX THAT WILL SHOWCASE INDUSTRIAL HEMP'S SUSTAINABILITY CREDENTIALS, INTEGRATE INTO INDEXING ORGANIZATIONS' LIFE CYCLE INVENTORIES, AND ENCOURAGE BRANDS AND RETAILERS TO POSITIVELY CONSIDER INDUSTRIAL HEMP FIBER PRODUCTS.
DURING 2022 THE NIHCOA CONTINUED WORK UNDER A MARKET ACCESS PROGRAM (MAP) UNDER A FEDERAL GRANT FROM THE USDA, THE AIM OF WHICH WAS TO DEVELOP MARKET ACCESS INTO EUROPE AND ASIA. THE MAP GRANT PERIOD WAS THROUGH 31 DEC 2022 AND ALLOWED REIMBURSEMENTS OF QUALIFIED EXPENSE.
THE FOREIGN AGRICULTURAL SERVICE (FAS) OF THE US DEPARTMENT OF AGRICULTURE AWARDED A GRANT TO NIHCOA UNDER THE TECHNICAL ASSISTANCE FOR SPECIALTY CROPS PROGRAM (TASC 05) TO ESTABLISH A DATABASE OF ALL REGULATORY REQUIREMENTS FOR THE IMPORTATION OF INDUSTRIAL HEMP INTO EUROPE. THE GRANT GOES THROUGH DECEMBER 31, 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Anderson Chief Financial Officer | Officer | 10 | $3,176 |
Lowell Randel Director | Trustee | 10 | $0 |
Patricia Sheikh Director | Trustee | 10 | $0 |
Walt Smith Director | Trustee | 10 | $0 |
Bob White Director | Trustee | 10 | $0 |
Doug Farquhar Director | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $35,000 |
| Fundraising events | $0 |
| Related organizations | $2,000 |
| Government grants | $316,368 |
| 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 | $353,368 |
| Total Program Service Revenue | $462,000 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $815,368 |
| 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. | $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 | $32,500 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $325,000 |
| Advertising and promotion | $5,000 |
| Office expenses | $25,751 |
| Information technology | $14,813 |
| Royalties | $0 |
| Occupancy | $12,796 |
| Travel | $58,967 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,150 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $479,977 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| 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 | $129,818 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $129,818 |
| 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 | -$129,818 |
| Total liabilities and net assets/fund balances | $0 |