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Nonprofiteer
← COTTON FOUNDATION

Form 990 for tax year 2023

Filed by COTTON FOUNDATION.

Totals

Total revenue
$1,225,596
Total expenses
$1,040,834
Contributions and grants received
$858,525
Grants paid
$181,500
Program service revenue
$0
Investment income
$82,071
Other revenue
$285,000
Total assets, end of year
$4,921,119
Total liabilities, end of year
$43,283
Net assets or fund balances, end of year
$4,877,836
Program services expenses (Part IX)
$809,191
Management and general expenses
$231,643
Fundraising expenses
$0
Program service expenses (Part III)
$809,191

Program services were 77.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $858,525

  • 3 · Investment income

    total $82,071 · excluded $82,071

  • 6a · Gross rents

    real property $285,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $285,000

  • 6d · Net rental income or loss

    total $285,000 · excluded $285,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $181,500 · program services $181,500

  • 5 · Compensation of officers, directors and key employees

    total $48,023 · program services $43,221 · management and general $4,802

  • 7 · Other salaries and wages

    total $28,450 · program services $25,605 · management and general $2,845

  • 8 · Pension plan contributions

    total $4,610 · program services $4,149 · management and general $461

  • 9 · Other employee benefits

    total $5,033 · program services $4,530 · management and general $503

  • 10 · Payroll taxes

    total $3,571 · program services $3,214 · management and general $357

  • 11c · Fees: accounting

    total $9,019 · management and general $9,019

  • 11f · Fees: investment management

    total $4,800 · management and general $4,800

  • 13 · Office expenses

    total $31,430 · program services $31,430

  • 16 · Occupancy

    total $108,706 · management and general $108,706

  • 17 · Travel

    total $294,038 · program services $290,071 · management and general $3,967

  • 19 · Conferences, conventions and meetings

    total $204,660 · program services $171,244 · management and general $33,416

  • 22 · Depreciation, depletion and amortization

    total $392 · management and general $392

  • 24a · Other expenses: PROPERTY TAXES

    total $58,791 · management and general $58,791

  • 24b · Other expenses: CONSULTING

    total $54,227 · program services $54,227

  • 24c · Other expenses: MISCELLANEOUS

    total $2,239 · management and general $2,239

  • 24d · Other expenses: CORPORATE FILING FEES

    total $1,345 · management and general $1,345

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $226,627 · end of year $94,223

  • 2 · Savings and temporary cash investments

    beginning of year $592,870 · end of year $829,463

  • 9 · Prepaid expenses and deferred charges

    end of year $6,883

  • 10a · Land, buildings and equipment: cost or other basis

    $3,249,404

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,621,818

  • 10c · Land, buildings and equipment, net

    beginning of year $627,978 · end of year $627,586

  • 11 · Investments: publicly traded securities

    beginning of year $2,981,565 · end of year $3,362,964

  • 17 · Accounts payable and accrued expenses

    beginning of year $35,363 · end of year $43,283

  • 27 · Net assets without donor restrictions

    beginning of year $2,618,677 · end of year $3,207,576

  • 28 · Net assets with donor restrictions

    beginning of year $1,775,000 · end of year $1,670,260

Mission and programs · 2023

Mission

TO ENCOUAGE AND AID EDUCATION, SCIENTIFIC EXPERIMENTATION, AND RESEARCH RELATING TO COTTON.

Activities or mission (Part I)

TO ENCOURAGE AND AID EDUCATION, SCIENTIFIC EXPERIMENTATION, AND RESEARCH RELATING TO COTTON.

  • PRODUCER INFORMATION EXCHANGE

    Expenses $94,043 · Revenue $125,000

  • EMERGING LEADER PROGRAM

    Expenses $115,877 · Revenue $85,000

  • IPM RESEARCH

    Expenses $71,369 · Revenue $30,000

  • GRANTS - 181,500OTHER EXPENSES (SALARIES, BENEFITS, & MISCELLANEOUS CHARGES TO PROGRAMS) - 82,153RESEARCH AND EDUCATION PROJECTS - 79,708BOOK SERIES - 26TECHNICAL/EDUCATION EXHIBITS - 50,000CONGRESSIONAL STAFF EDUCATION - 1,227POLICY EDUCATION PROGRAM - 30,611MULTI COMMODITY EDUCATION - 21,669SUSTAINABILITY/FIELD TO MARKET - 1,029EDUCATIONAL OUTREACH - 35,539COTTON LEADS - 44,440

    Expenses $527,902 · Grants $181,500 · Revenue $260,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Matt Rekeweg

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Joseph Kelly Fenner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Travis Becton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Jennifer Crumpler

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • David C Light

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Eric Castner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Jeffrey D Smith

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Todd Rovey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Dean Calvani

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5

  • Russell Sutton

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Sam Whitaker

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Andrew Conner

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Phillip Edwards III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Macie O'Shaughnessy

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0.5

  • Gary Adams

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $530,557
    From this org
    $0
    From related orgs
    $458,958
    Other
    $71,599
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $432,336 related
    Bonus
    $0 + $22,500 related
    Other
    $0 + $4,122 related
    Deferred
    $0 + $39,646 related
    Nontaxable benefits
    $0 + $31,953 related
    Filer's total
    $0 + $530,557 related

  • Chad Brewer

    EXECUTIVE DIRECTOR/SECRETA

    Total calculated
    $112,724
    From this org
    $0
    From related orgs
    $93,905
    Other
    $18,819
    Hours/week
    1 + 40 related

  • Drew Davis

    ASSISTANT TREASURER

    Total calculated
    $177,461
    From this org
    $0
    From related orgs
    $147,398
    Other
    $30,063
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $132,146 related
    Bonus
    $0 + $15,000 related
    Other
    $0 + $252 related
    Deferred
    $0 + $13,788 related
    Nontaxable benefits
    $0 + $16,275 related
    Filer's total
    $0 + $177,461 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4B
GARY ADAMS PARTICIPATES IN A COMPANY OWNED LIFE INSURANCE PLAN AND THE ANNUAL PREMIUM PAYMENTS MADE BY THE NATIONAL COTTON COUNCIL ARE $15,000.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • MISSISSIPPI STATE UNIVERSITY FOUNDATION

    $40,000

    RESEARCH AND EDUCATION RELATED TO COTTON

  • TEXAS A&M AGRILIFE EXTENSION & RESEARCH CENTER

    $27,000

    RESEARCH AND EDUCATION RELATED TO COTTON

  • UNIVERSITY OF TENNESSEE

    $20,000

    RESEARCH AND EDUCATION RELATED TO COTTON

  • MISSISSIPPI STATE UNIVERSITY

    $15,000

    RESEARCH AND EDUCATION RELATED TO COTTON

  • UNIVERSITY OF GEORGIA

    $10,500

    RESEARCH AND EDUCATION RELATED TO COTTON

  • UNIVERSITY OF ARKANSAS

    $10,000

    RESEARCH AND EDUCATION RELATED TO COTTON

  • COTTON INCORPORATED

    $10,000

    RESEARCH AND EDUCATION RELATED TO COTTON

  • VIRGINIA TECH UNIVERSITY

    $7,000

    RESEARCH AND EDUCATION RELATED TO COTTON

  • UNIVERSITY OF ARIZONA

    $7,000

    RESEARCH AND EDUCATION RELATED TO COTTON

  • LOUISIANA STATE UNIVERSITY

    $7,000

    RESEARCH AND EDUCATION RELATED TO COTTON

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
14 May 2025
IRS schema version
2023v6.0
Source object
202501359349305460

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.