Illinois Soybean Foundation
- Assets
- $35.0k
- Revenue
- $20.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Bloomington, IL
- Founding
- Data as of
- 12/2023
- EIN
- 85-3318788
Organization Overview
Illinois Soybean Foundation is located in Bloomington, IL. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, 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. Illinois Soybean Foundation 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 12/2023, Illinois Soybean Foundation generated $20.0k 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 (5.4%) each year. All expenses for the organization totaled $817.0 during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Pitstick Director | 1 | $0 | |
Ron Kindred Chairman | 1 | $0 | |
Jeff O'conner Director | 1 | $0 | |
Bryan Severs Treasurer | 1 | $0 | |
Dwayne Anderson Asst. Treasurer/secretary | 1 | $0 | |
John Lumpe Chief Executive Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $20,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $20,000 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $232 |
| Total operating and administrative expenses | $817 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $817 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,997 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $34,997 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Illinois Soybean Foundation has awarded $44,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ILLINOIS FOUNDATION FFA PURPOSE: YOUTH AGRICULTURE EDUCATION | $25,250 |
ILLINOIS CORN GROWERS ASSOCIATION PURPOSE: COVER CROPS PROGRAM | $19,250 |