Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $7,093

• 1f · All other contributions, gifts and grants

  $83,582

• 3 · Investment income

  total $34,045 · excluded $34,045

• 7a · Gross sales of assets other than inventory

  securities $74,303

• 7b · Less cost or other basis and sales expenses

  securities $73,745

• 7c · Gain or loss

  securities $558

• 7d · Net gain or loss

  total $558 · excluded $558

• 8a · Fundraising events: gross income

  $52,757

• 8a · Fundraising events: contributions included on line 1c

  $7,093

• 8b · Fundraising events: direct expenses

  $55,007

• 8c · Net income from fundraising events

  total -$2,250 · excluded -$2,250

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $60,000 · program services $60,000

• 2 · Grants to domestic individuals

  total $15,383 · program services $15,383

• 11c · Fees: accounting

  total $240 · management and general $240

• 11f · Fees: investment management

  total $4,544 · management and general $4,544

• 11g · Fees: other

  total $18,750 · program services $15,171 · management and general $3,579

• 13 · Office expenses

  total $2,671 · management and general $2,671

• 14 · Information technology

  total $12,000 · program services $8,323 · management and general $3,677

• 19 · Conferences, conventions and meetings

  total $1,546 · program services $1,546

• 24a · Other expenses: RESEARCH

  total $45,408 · program services $45,408

• 24b · Other expenses: DUES AND SUBSCRIPTIONS

  total $1,250 · management and general $1,250

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $38,817 · end of year $32,246

• 2 · Savings and temporary cash investments

  end of year $45,195

• 4 · Accounts receivable

  end of year $8,150

• 9 · Prepaid expenses and deferred charges

  beginning of year $8,314 · end of year $3,750

• 11 · Investments: publicly traded securities

  beginning of year $1,085,420 · end of year $1,135,814

• 15 · Other assets

  beginning of year $51,081 · end of year $25,286

• 17 · Accounts payable and accrued expenses

  beginning of year $10,441

• 27 · Net assets without donor restrictions

  beginning of year $1,173,191 · end of year $1,250,441

The filer's explanations (Part III)

PART I, LINE 3:

COMPENSATION PAID TO THE SECRETARY/TREASURER IS DETERMINED BY THE BOARD OF DIRECTORS OF THE RELATED ORGANIZATION, NATIONAL GRAIN AND FEED ASSOCIATION ("NGFA") BASED ON AN EVALUATION OF THE INDIVIDUAL'S ACCOMPLISHMENTS, LEVEL OF EXPERTISE AND INDUSTRY KNOWLEDGE REQUIRED FOR THE POSITION, AND COMPARISON OF WAGES AND BENEFITS PAID TO OTHER PRESIDENTS IN THE SAME GEOGRAPHIC LOCATION GLEANED FROM OTHER FORMS 990. THIS WAS LAST PERFORMED IN JANUARY 2023. COMPENSATION FOR OTHER OFFICERS ARE DETERMINED BY THE PRESIDENT OF NGFA.