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Nonprofiteer
← UNITED STATES SOYBEAN EXPORT COUNCIL INC

Form 990 for tax year 2024

Filed by UNITED STATES SOYBEAN EXPORT COUNCIL INC.

Totals

Total revenue
$79,095,999
Total expenses
$78,378,425
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$79,095,773
Investment income
$226
Other revenue
$0
Total assets, end of year
$26,678,335
Total liabilities, end of year
$22,859,294
Net assets or fund balances, end of year
$3,819,041
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: CHECKOFF PROGRAMS

    total $56,973,141 · related or exempt $56,973,141

  • 2b · Program service revenue: REGIONAL AGRICULTURAL PROMOTION P

    total $9,018,701 · related or exempt $9,018,701

  • 2c · Program service revenue: FOREIGN MARKET DEVELOPMENT

    total $6,175,136 · related or exempt $6,175,136

  • 2d · Program service revenue: MARKET ACCESS PROGRAM

    total $5,169,393 · related or exempt $5,169,393

  • 2e · Program service revenue: EMERGING MARKETS PROGRAM

    total $616,746 · related or exempt $616,746

  • 2f · All other program service revenue

    total $1,142,656 · related or exempt $1,041,214 · unrelated business $101,442

  • 3 · Investment income

    total $226 · excluded $226

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $4,850,308

  • 7 · Other salaries and wages

    total $7,878,102

  • 8 · Pension plan contributions

    total $435,332

  • 9 · Other employee benefits

    total $1,193,865

  • 10 · Payroll taxes

    total $708,773

  • 11b · Fees: legal

    total $168,593

  • 11c · Fees: accounting

    total $210,094

  • 11g · Fees: other

    total $31,549,536

  • 12 · Advertising and promotion

    total $3,135,898

  • 13 · Office expenses

    total $463,200

  • 14 · Information technology

    total $504,207

  • 15 · Royalties

    total $615,000

  • 16 · Occupancy

    total $730,902

  • 17 · Travel

    total $15,344,491

  • 19 · Conferences, conventions and meetings

    total $7,730,406

  • 20 · Interest

    total $138,394

  • 23 · Insurance

    total $126,623

  • 24a · Other expenses: COMMUNICATIONS

    total $1,840,917

  • 24b · Other expenses: TRADE RELATIONS

    total $699,950

  • 24c · Other expenses: OTHER OPERATING EXPENSE

    total $53,834

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,479,175 · end of year $3,510,326

  • 4 · Accounts receivable

    beginning of year $3,930,696 · end of year $2,733,882

  • 9 · Prepaid expenses and deferred charges

    beginning of year $812,716 · end of year $978,846

  • 15 · Other assets

    beginning of year $22,147,355 · end of year $19,455,281

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,451,248 · end of year $13,878,172

  • 23 · Secured mortgages and notes payable

    beginning of year $5,749,459 · end of year $3,730,859

  • 25 · Other liabilities

    beginning of year $5,067,768 · end of year $5,250,263

  • 27 · Net assets without donor restrictions

    beginning of year $3,101,467 · end of year $3,819,041

Mission and programs · 2024

Mission

MAXIMIZE THE USE OF U.S. SOY INTERNATIONALLY BY MEETING THE NEEDS OF OUR STAKEHOLDERS AND GLOBAL CUSTOMERS.

Activities or mission (Part I)

TO CREATE AND SUSTAIN DEMAND FOR U.S. SOYBEAN PRODUCTS THROUGH ITS GLOBAL NETWORK OF INTERNATIONAL OFFICES.

  • UNITED SOYBEAN BOARD (USB) - ADMINISTER SOYBEAN CHECKOFF ACTIVITIES FOCUSING ON RESEARCH AND MARKET DEVELOPMENT AND EXPANSION.

  • QUALIFIED STATE SOYBEAN BOARD (QSSB) - ADMINISTER SOYBEAN CHECKOFF ACTIVITIES FOCUSING ON RESEARCH AND MARKET DEVELOPMENT AND EXPANSION.

  • FOREIGN MARKET DEVELOPMENT (FMD) - PROMOTE AND STRENGTHEN THE GLOBAL COMPETITIVENESS OF U.S. AGRICULTURAL COMMODITIES, ADDRESS LONG-TERM FOREIGN IMPORT CONSTRAINTS, AND CONTRIBUTE TO THE MAINTENANCE OR GROWTH OF DEMAND FOR U.S. AGRICULTURAL COMMODITIES.

  • MARKET ACCESS PROGRAM (MAP) - ASSIST U.S. PRODUCERS, EXPORTERS, AND TRADE ORGANIZATIONS IN DEVELOPING, MAINTAINING, AND EXPANDING EXPORT ACTIVITIES IN GLOBAL MARKETS. ACTIVITIES INCLUDE CONSUMER PROMOTIONS, TRADE SEMINARS, AND MARKET RESEARCH.

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • LANCE REZAC

    CHAIRMAN (THRU 03/2025)

    Total calculated
    $0
    Hours/week
    1

  • JANNA FRITZ

    CHAIRPERSON/VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • MIKE MCCRANIE

    VICE CHAIR/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • ROBERTA SIMPSON-DOLBEARE

    2ND VICE CHAIR/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHN BUBOLTZ

    TREASURER (THRU 03/2025)

    Total calculated
    $0
    Hours/week
    1

  • CRAIG PIETIG

    TREASURER/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SCOTT GAFFNER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • JOEL SCHRUERS

    SECRETARY/TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TIM BARDOLE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CLAYTON CHARLES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOE DIERICKX

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • BOBBY EWALT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TONY HILL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SHAWN HULM

    TRUSTEE (THRU 03/2025)

    Total calculated
    $0
    Hours/week
    1

  • MIKE KOEHNE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RANDY MILLER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CINDY PULSKAMP

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SCOTT SINNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • TORI SORENSEN

    TRUSTEE (03/2025)

    Total calculated
    $0
    Hours/week
    1

  • REGGIE STRICKLAND

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JAMES SUTTER

    CEO

    Total calculated
    $927,888
    From this org
    $865,190
    From related orgs
    $0
    Other
    $62,698
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $697,223
    Bonus
    $143,850
    Other
    $24,117
    Deferred
    $22,425
    Nontaxable benefits
    $40,273
    Filer's total
    $927,888

  • JULIE SUMPTER

    CFO

    Total calculated
    $432,602
    From this org
    $379,024
    From related orgs
    $0
    Other
    $53,578
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $295,339
    Bonus
    $82,500
    Other
    $1,185
    Deferred
    $22,425
    Nontaxable benefits
    $31,153
    Filer's total
    $432,602

  • PAUL BURKE

    EXECUTIVE DIRECTOR

    Total calculated
    $326,632
    From this org
    $278,274
    From related orgs
    $0
    Other
    $48,358
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,242
    Bonus
    $32,000
    Other
    $1,032
    Deferred
    $17,205
    Nontaxable benefits
    $31,153
    Filer's total
    $326,632

  • BRENT BABB

    REGIONAL DIRECTOR

    Total calculated
    $345,037
    From this org
    $294,364
    From related orgs
    $0
    Other
    $50,673
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $253,179
    Bonus
    $40,000
    Other
    $1,185
    Deferred
    $17,110
    Nontaxable benefits
    $33,563
    Filer's total
    $345,037

  • TIMOTHY LOH

    REGIONAL DIRECTOR

    Total calculated
    $359,248
    From this org
    $0
    From related orgs
    $330,682
    Other
    $28,566
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $269,740 related
    Bonus
    $0 + $60,942 related
    Other
    $0
    Deferred
    $0 + $25,324 related
    Nontaxable benefits
    $0 + $3,242 related
    Filer's total
    $0 + $359,248 related

  • ROSALIND LEECK

    EXECUTIVE DIRECTOR

    Total calculated
    $373,418
    From this org
    $337,587
    From related orgs
    $0
    Other
    $35,831
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,960
    Bonus
    $67,500
    Other
    $1,127
    Deferred
    $22,190
    Nontaxable benefits
    $13,641
    Filer's total
    $373,418

  • KEVIN ROEPKE

    REGIONAL DIRECTOR

    Total calculated
    $637,652
    From this org
    $585,246
    From related orgs
    $0
    Other
    $52,406
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $368,516
    Bonus
    $47,500
    Other
    $169,230
    Deferred
    $17,184
    Nontaxable benefits
    $35,222
    Filer's total
    $637,652

  • KERREY J KERR-ENSKAT

    DIRECTOR - COMMUNICATIONS

    Total calculated
    $220,554
    From this org
    $176,106
    From related orgs
    $0
    Other
    $44,448
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,463
    Bonus
    $20,000
    Other
    $643
    Deferred
    $0
    Nontaxable benefits
    $44,448
    Filer's total
    $220,554

  • CARLOS SALINAS-MESCHWITZ

    REGIONAL DIRECTOR

    Total calculated
    $495,827
    From this org
    $424,563
    From related orgs
    $0
    Other
    $71,264
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $286,313
    Bonus
    $57,500
    Other
    $80,750
    Deferred
    $15,550
    Nontaxable benefits
    $55,714
    Filer's total
    $495,827

  • HYUNG SUK LEE

    COUNTRY OFFICE DIRECTOR

    Total calculated
    $245,232
    From this org
    $0
    From related orgs
    $204,511
    Other
    $40,721
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $204,511 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,216 related
    Nontaxable benefits
    $0 + $10,505 related
    Filer's total
    $0 + $245,232 related

  • CURLYN TAN

    DIRECTOR OF OPERATIONS - SEA

    Total calculated
    $649,901
    From this org
    $0
    From related orgs
    $646,505
    Other
    $3,396
    Hours/week
    30 + 10 related

    Schedule J breakdown matched by us

    Base
    $0 + $208,857 related
    Bonus
    $0 + $25,663 related
    Other
    $0 + $411,985 related
    Deferred
    $0
    Nontaxable benefits
    $0 + $3,396 related
    Filer's total
    $0 + $649,901 related

  • LYNDSEY ERB

    DIRECTOR - INDUSTRY RELATIONS

    Total calculated
    $261,983
    From this org
    $203,438
    From related orgs
    $0
    Other
    $58,545
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,781
    Bonus
    $25,000
    Other
    $657
    Deferred
    $13,100
    Nontaxable benefits
    $45,445
    Filer's total
    $261,983

  • COLBY PINKSTONE

    DIRECTOR - STRATEGIC PROGRAMS

    Total calculated
    $319,872
    From this org
    $262,452
    From related orgs
    $0
    Other
    $57,420
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $224,097
    Bonus
    $37,500
    Other
    $855
    Deferred
    $17,697
    Nontaxable benefits
    $39,723
    Filer's total
    $319,872

  • DONNA ROBINSON

    CONROLLER

    Total calculated
    $241,947
    From this org
    $210,440
    From related orgs
    $0
    Other
    $31,507
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,823
    Bonus
    $25,000
    Other
    $617
    Deferred
    $14,016
    Nontaxable benefits
    $17,491
    Filer's total
    $241,947

  • CHERYL HUSON

    DIRECTOR OF BUDGET & COMPLIANCE

    Total calculated
    $223,306
    From this org
    $194,756
    From related orgs
    $0
    Other
    $28,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,256
    Bonus
    $20,000
    Other
    $500
    Deferred
    $12,953
    Nontaxable benefits
    $15,597
    Filer's total
    $223,306

  • WILLIAM MCNAIR

    DIRECTOR OF OIL & SOYFOODS

    Total calculated
    $240,828
    From this org
    $197,998
    From related orgs
    $0
    Other
    $42,830
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,840
    Bonus
    $22,500
    Other
    $658
    Deferred
    $11,802
    Nontaxable benefits
    $31,028
    Filer's total
    $240,828

  • ANGELA MOODY

    DIRECTOR OF PROGRAM ADMINISTRATION

    Total calculated
    $223,879
    From this org
    $196,063
    From related orgs
    $0
    Other
    $27,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,613
    Bonus
    $17,850
    Other
    $600
    Deferred
    $12,932
    Nontaxable benefits
    $14,884
    Filer's total
    $223,879

  • ABIGAIL RINNE

    DIRECTOR - SUSTAINABILITY

    Total calculated
    $214,606
    From this org
    $195,602
    From related orgs
    $0
    Other
    $19,004
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,981
    Bonus
    $25,000
    Other
    $621
    Deferred
    $12,907
    Nontaxable benefits
    $6,097
    Filer's total
    $214,606

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

  • 1a · Tax indemnification and gross-up payments
  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: TAX INDEMNIFICATION AND GROSS-UP PAYMENTS ARE ONLY PAID TO INDIVIDUALS IN LIMITED CIRCUMSTANCES, AND MUST BE APPROVED IN ACCORDANCE WITH USSEC POLICIES GOVERNING THESE TYPES OF PAYMENTS. AT LEAST ANNUALLY, THE EXPENSES INCURRED BY ALL EMPLOYEES ARE REVIEWED TO ENSURE APPROPRIATE TAXATION AND REPORTING. GROSS-UP PAYMENTS ARE ESTABLISHED BY TAKING INTO ACCOUNT AN ESTIMATED TAX RATE. HOWEVER, EMPLOYEES RECEIVING THE PAYMENT ARE NOT GROSSED UP FOR ACTUAL TAXES INCURRED. GROSS-UP PAYMENTS WERE PROVIDED TO 2 EXPAT REGIONAL DIRECTORS IN 2024 AND IN ALL CASES WERE TREATED AS TAXABLE INCOME TO THE RECIPIENT. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: UPON APPROVAL BY THE USSEC BOARD OF DIRECTORS, THE USSEC PROVIDES A HOUSING ALLOWANCE TO 2 EXPAT REGIONAL DIRECTORS. THE HOUSING ALLOWANCE IS TREATED AS INCOME AND TAXED ACCORDINGLY.
PART I, LINES 4A-B
USSEC PROVIDES SUPPLEMENTAL NONQUALIFIED DEFERRED COMPENSATION PLANS TO CERTAIN INDIVIDUALS. THE FOLLOWING INDIVIDUALS PARTICIPATE IN A PLAN: JAMES SUTTER TIMOTHY LOH HYUNG SUK LEE NO AMOUNTS BECAME VESTED OR WERE PAID OUT IN 2024. SCHEDULE J, PART II, COLUMN C INCLUDES THE CURRENT-YEAR DEFERRALS FOR THE UNVESTED PARTICIPANTS WHICH MAY BECOME PAYABLE UNDER THE PLAN IN A FUTURE PERIOD. CURLY TAN RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $411,632. THIS AMOUNT IS INCLUDED IN REPORTABLE COMPENSATION AND SCH J, PART II, COLUMN III.

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

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SOYBEAN EXPORT SUSTAINABILITY LLC

    PROMOTE THE EXPORT OF U.S. GROWN SOYBEANS · VA · income $254,631 · assets -$1,245,047

    Directly controlled by UNITED STATES SOYBEAN EXPORT COUNCIL

  • UNITED STATES SOYBEAN EXPORT COUNCIL AC

    FACILITATING THE EXPORT OF SOYBEANS · MX · income $1,327,217 · assets $118,240

    Directly controlled by UNITED STATES SOYBEAN EXPORT COUNCIL

  • UNITED STATES SOYBEAN EXPORT COUNCIL INC

    FACILITATING THE EXPORT OF SOYBEANS · AE · income $1,416,956 · assets $198,466

    Directly controlled by UNITED STATES SOYBEAN EXPORT COUNCIL

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • US SOYBEAN EXPORT COUNCIL SOUTHEAST ASIA LIMITED

    C · FACILITATING THE EXPORT OF SOYBEANS · SN · 100% owned · share of income $1,719,561 · share of assets $1,171,632 · controlled entity

    Directly controlled by UNITED STATES SOYBEAN EXPORT COUNCIL

Provenance

Return type
form_990
Tax year
2024
IRS schema version
2024v5.5
Source object
202602059349301225

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