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Nonprofiteer
← SOUTHEAST REGIONAL COOPERATIVE INC

Form 990 for tax year 2024

Filed by SOUTHEAST REGIONAL COOPERATIVE INC.

Totals

Total revenue
$14,103,455
Total expenses
$14,072,539
Contributions and grants received
$937,177
Grants paid
$0
Program service revenue
$3,252,182
Investment income
$0
Other revenue
$9,914,096
Total assets, end of year
$2,120,880
Total liabilities, end of year
$848,769
Net assets or fund balances, end of year
$1,272,111
Program services expenses (Part IX)
$13,775,486
Management and general expenses
$283,499
Fundraising expenses
$13,554
Program service expenses (Part III)
$13,775,486

Program services were 97.9% 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

    $937,177

  • 2a · Program service revenue: FREIGHT INCOME

    total $1,485,527 · related or exempt $1,485,527

  • 2b · Program service revenue: OTHER

    total $1,314,401 · related or exempt $1,314,401

  • 2c · Program service revenue: CORPORATE CONTRIBUTIONS

    total $452,254 · related or exempt $452,254

  • 10a · Gross sales of inventory

    $9,683,426

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $9,683,426 · related or exempt $9,683,426

  • 11a · Other revenue: OTHER

    total $230,670 · related or exempt $230,670

  • 11e · Other revenue, total

    $230,670

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $141,420 · program services $124,450 · management and general $14,142 · fundraising $2,828

  • 7 · Other salaries and wages

    total $500,508 · program services $440,448 · management and general $50,051 · fundraising $10,009

  • 8 · Pension plan contributions

    total $35,836 · program services $31,535 · management and general $3,584 · fundraising $717

  • 11c · Fees: accounting

    total $64,638 · management and general $64,638

  • 12 · Advertising and promotion

    total $33,034 · management and general $33,034

  • 13 · Office expenses

    total $62,672 · management and general $62,672

  • 14 · Information technology

    total $26,720 · management and general $26,720

  • 17 · Travel

    total $41,359 · management and general $41,359

  • 19 · Conferences, conventions and meetings

    total $3,657 · management and general $3,657

  • 22 · Depreciation, depletion and amortization

    total $1,341 · management and general $1,341

  • 23 · Insurance

    total $57,343 · management and general $57,343

  • 24a · Other expenses: FREIGHT EXPENSE

    total $7,962,145 · program services $7,962,145

  • 24b · Other expenses: FOOD ACQUISITION COSTS

    total $5,216,908 · program services $5,216,908

  • 24c · Other expenses: OTHER

    total $17,419 · management and general $17,419

  • 24d · Other expenses: BAD DEBT EXPENSE

    total -$92,461 · management and general -$92,461

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,298,424 · end of year $1,480,057

  • 3 · Pledges and grants receivable

    end of year $20,000

  • 4 · Accounts receivable

    beginning of year $778,254 · end of year $616,463

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

    $6,707

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

    $2,347

  • 10c · Land, buildings and equipment, net

    beginning of year $5,701 · end of year $4,360

  • 17 · Accounts payable and accrued expenses

    beginning of year $838,857 · end of year $844,796

  • 25 · Other liabilities

    beginning of year $2,327 · end of year $3,973

  • 27 · Net assets without donor restrictions

    beginning of year -$191,647 · end of year $1,204,926

  • 28 · Net assets with donor restrictions

    beginning of year $1,432,842 · end of year $67,185

Mission and programs · 2024

Mission

TO FACILITATE DONATIONS OF PRODUCE AND PURCHASES AT THE LOWEST POSSIBLE COST AND TO PROVIDE A CONSISTENT LEVEL OF DEMAND TO GROWERS, DISTRIBUTORS, AND OTHER SUPPLY CHAIN PARTICIPANTS.

Activities or mission (Part I)

A TYPE I SUPPORTING ORGANIZATION OF FEEDING AMERICA FOOD BANKS IN THE SOUTHEASTERN UNITED STATES.

  • THE SOUTHEAST REGIONAL COOPERATIVE (SERC) IS A 501(C)3, TYPE I SUPPORTING ORGANIZATION OF THE FEEDING AMERICA FOOD BANKS IN 7 SOUTHEASTERN STATES. IT SEEKS TO PROVIDE FRESH PRODUCE TO FOOD BANKS IN THE SOUTHEAST REGION, FOCUSING ON QUANTITY, QUALITY, AND VARIETY. THE SERC IS DESIGNED TO AGGREGATE PRODUCE DEMAND FROM FOOD BANKS THROUGHOUT THE SOUTHEAST AND MATCH THAT DEMAND WITH SURPLUS PRODUCE FROM THE SOUTHEAST STATES AND ACROSS THE COUNTRY. THE SERC SEEKS TO REDUCE THE COST OF ACQUISITION FOR FRESH PRODUCE BY BUILDING DONOR RELATIONSHIPS AND LOWERING LOGISTICS COSTS, THEREBY INCREASING FRESH DONATED PRODUCE FOR OUR SUPPORTED MEMBER FOOD BANKS. THE SERC NEGOTIATES AND PROCURES EXCESS DONATED PRODUCE AND FREIGHT COSTS FOR PARTICIPATING FOOD BANKS. THE SERC MANAGES A CONTRACTED MIXING FACILITY WHERE IT AGGREGATES STRAIGHT COMMODITY TRUCKLOADS AND CROSS-DOCK THE PRODUCE TO CREATE MIXED COMMODITY TRUCKLOADS. THE SERC THEN DISTRIBUTES THESE MIXED PRODUCE TRUCKLOADS TO THE SUPPORTED FOOD BANKS.

    Expenses $13,775,486 · Revenue $13,166,278

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

Listed in Part VII

  • Kyle Waide

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Joshua Matthews

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Robin Safley

    CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Dr Charles Beady

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Margaret Grant

    SECRETARY & TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Brad Bornac

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kathy McCollum

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Cindy Stapleton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Angela Eubanks

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mike Darrow

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Chris Flint

    EXECUTIVE DIRECTOR

    Total calculated
    $141,420
    From this org
    $132,278
    From related orgs
    $0
    Other
    $9,142
    Hours/week
    40

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
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202513229349301446

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