Form 990 for tax year 2023
Filed by KENTUCKY SOYBEAN PROMOTION BOARD.
Totals
- Total revenue
- $3,470,709
- Total expenses
- $2,718,021
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $3,221,487
- Investment income
- $213,932
- Other revenue
- $35,290
- Total assets, end of year
- $8,990,460
- Total liabilities, end of year
- $0
- Net assets or fund balances, end of year
- $8,990,460
- Program services expenses (Part IX)
- $2,382,304
- Management and general expenses
- $335,717
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,382,304
Program services were 87.6% 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.
-
2a · Program service revenue: ASSESSMENTS - IN-STATE
total $5,262,718 · related or exempt $5,262,718
-
2b · Program service revenue: ASSESSMENTS - OUT-OF-STATE
total $1,865,507 · related or exempt $1,865,507
-
2c · Program service revenue: REMITTANCES TO OTHER STATES
total -$880,091 · related or exempt -$880,091
-
2d · Program service revenue: REMITTANCES TO USB
total -$3,026,647 · related or exempt -$3,026,647
-
3 · Investment income
total $147,932 · related or exempt $147,932
-
7a · Gross sales of assets other than inventory
other assets $66,000
-
7c · Gain or loss
other assets $66,000
-
7d · Net gain or loss
total $66,000 · related or exempt $66,000
-
11a · Other revenue: MISCELLANEOUS INCOME
total $35,290 · related or exempt $35,290
-
11e · Other revenue, total
$35,290
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $60,685 · management and general $60,685
-
9 · Other employee benefits
total $22,973 · management and general $22,973
-
10 · Payroll taxes
total $11,977 · management and general $11,977
-
11c · Fees: accounting
total $8,225 · management and general $8,225
-
16 · Occupancy
total $46,558 · management and general $46,558
-
22 · Depreciation, depletion and amortization
total $117,705 · management and general $117,705
-
23 · Insurance
total $16,262 · management and general $16,262
-
24a · Other expenses: NEW USES
total $443,949 · program services $443,949
-
24b · Other expenses: INDUSTRY INFORMATION
total $442,614 · program services $442,614
-
24c · Other expenses: RESEARCH PROJECTS
total $430,219 · program services $430,219
-
24d · Other expenses: PRODUCER COMMUNICATIONS
total $252,792 · program services $252,792
-
24e · All other expenses
total $864,062 · program services $812,730 · management and general $51,332
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,772,018 · end of year $5,460,493
-
2 · Savings and temporary cash investments
beginning of year $954,877 · end of year $972,362
-
10a · Land, buildings and equipment: cost or other basis
$3,070,245
-
10b · Land, buildings and equipment: accumulated depreciation
$512,640
-
10c · Land, buildings and equipment, net
beginning of year $2,501,785 · end of year $2,557,605
-
27 · Net assets without donor restrictions
beginning of year $8,228,680 · end of year $8,990,460
Mission and programs · 2023
Mission
TO PROMOTE AND STIMULATE TEH INCREASED USE AND SALE OF SOYBEANS AND SOYBEAN PRODUCTS.
Activities or mission (Part I)
TO PROMOTE AND STIMULATE THE INCREASED USE AND SALE OF SOYBEANS AND SOYBEAN PRODUCTS.
-
THE SOYBEAN PROMOTION RESEARCH AND CONSUMER INFORMATION ACT APPROVED NOVEMBER 28, 1990 AUTHORIZED THE ESTAGLISHMENT OF NATIONAL INDUSTRY FUNDED SOYBEAN PROMOTION AND RESEARCH. EAST FIRST PURCHASER OF SOYBEANS IN KENTUCKY SHALL COLLECT AND REMIT TO THE KENTUCKY SOYBEAN PROMOTION BOARD AT TEH RATE OF .50% OF THE NET MARKET PRICE OF THE SOYBEANS PURCHASED. THE ASSESSMETNS ARE THEN USED TO PROMOTE AND STIMULATE RESEARCH, MARKET DEVELOPMENT AND EDUCATION, AND THE INCREASED SALES AND USE OF SOYBEAN AND SOY PRODUCTS.
Expenses $2,382,304
As filed on the 2023 return.
Listed in Part VII
-
Debbie EllisDEBBIE ELLIS
EXECUTIVE DI
- Total calculated
- $142,800
- From this org
- $142,800
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
-
Barry AlexanderBARRY ALEXANDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Ryan BivensRYAN BIVENS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Brent GattonBRENT GATTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Adam HendricksADAM HENDRICKS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Glenn HowellGLENN HOWELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jeff KingJEFF KING
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Allen PaceALLEN PACE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Caleb RaglandCALEB RAGLAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Jonathan ReynoldsJONATHAN REYNOLDS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Fred L SipesFRED L SIPES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Larry ThomasLARRY THOMAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Clay WellsCLAY WELLS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
-
Andrea WillifordANDREA WILLIFORD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.0
- Source object
- 202403189349311100
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