American Pecan Promotion Board
- Assets
- $10.4m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Fort Worth, TX
- Founding
- Data as of
- 09/2023
- EIN
- 87-2985965
Organization Overview
American Pecan Promotion Board is located in Fort Worth, TX. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Pecan Promotion Board 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 09/2023, American Pecan Promotion Board generated $10.0m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 12.1% each year . All expenses for the organization totaled $7.8m during the year ending 09/2023. 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 AMERICAN PECAN PROMOTION BOARD OPERATES THE PECAN RESEARCH AND PROMOTION PROGRAM UNDER THE COMMODITY PROMOTION, RESEARCH, AND INFORMATION ACT OF 1996 (7 U.S.C. 7411-7425). THE PURPOSE OF THE PROGRAM IS TO STRENGTHEN THE POSITION OF PECANS IN THE MARKETPLACE, MAINTAIN AND EXPAND MARKETS FOR PECANS, AND DEVELOP NEW USES FOR PECANS IN ACCORDANCE WITH THE PECAN PROMOTION, RESEARCH, AND INFORMATION ORDER (7 C.F.R. PART 1223).
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY FUNCTION OF THE ORGANIZATION IS TO GENERICALLY PROMOTE PECAN CONSUMPTION, STRENGTHEN THE POSITION OF PECANS IN THE MARKETPLACE, MAINTAIN AND EXPAND MARKETS FOR PECANS, AND RESEARCH AND DEVELOP NEW USES FOR PECANS. THESE FUNCTIONS ARE ACHIEVED BY UTILIZING PROMOTION AND MARKETING TECHNIQUES TO PROMOTE OVERALL PECAN CONSUMPTION. TO AID IN PECAN PROMOTION, THE ORGANIZATION HAS INVESTED IN PUBLIC EDUCATION CAMPAIGNS ABOUT THE BENEFITS AND USES OF PECANS AND INTO A FREE RESEARCH LIBRARY OF EXISTING SCIENTIFIC ARTICLES RELATED TO PECANS AND PECAN CONSUMPTION. THIS PECAN RESEARCH LIBRARY WILL BE USED TO PROVIDE RELEVANT INFORMATION TO THE PUBLIC AND TO DIRECT FUTURE RESEARCH PROJECTS AND MARKETING MANAGED BY THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dave Salopek Chair | OfficerTrustee | 1 | $0 |
B Michael Adams Vice-Chair | OfficerTrustee | 1 | $0 |
Paul Quiros Secretary | OfficerTrustee | 1 | $0 |
Deborah Walden-Ralls Treasurer | OfficerTrustee | 1 | $0 |
T Trenton Mason Director | Trustee | 1 | $0 |
Molly Willis Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Digital Magnet Llc Promotion | 9/29/23 | $550,000 |
Armstrong Backus & Co Llp Accounting | 9/29/23 | $181,868 |
Ajo Strategies Llc Contract Labor | 9/29/23 | $135,000 |
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 | $10,037,594 |
| 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 | $10,037,594 |
| 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 | $4,421 |
| Fees for services: Accounting | $143,010 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,637,882 |
| Office expenses | $239,557 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $41,381 |
| Travel | $3,768 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $26,993 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,138 |
| All other expenses | $86,644 |
| Total functional expenses | $7,769,805 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,515,547 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,805,207 |
| 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 | $40,770 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $61,367 |
| Other assets | $0 |
| Total assets | $10,422,891 |
| Accounts payable and accrued expenses | $1,033,724 |
| 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 | $63,631 |
| Total liabilities | $1,097,355 |
| Net assets without donor restrictions | $9,325,536 |
| 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 | $10,422,891 |