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Nonprofiteer
← RICE FOUNDATION

Form 990 for tax year 2024

Filed by RICE FOUNDATION.

Totals

Total revenue
$595,237
Total expenses
$365,018
Contributions and grants received
$553,357
Grants paid
$29,264
Program service revenue
$0
Investment income
$41,880
Other revenue
$0
Total assets, end of year
$11,486,797
Total liabilities, end of year
$10,018,497
Net assets or fund balances, end of year
$1,468,300
Program services expenses (Part IX)
$294,682
Management and general expenses
$70,336
Fundraising expenses
$0
Program service expenses (Part III)
$294,682

Program services were 80.7% 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.

  • 1b · Membership dues

    $26,000

  • 1d · Related organizations

    $60,000

  • 1f · All other contributions, gifts and grants

    $467,357

  • 3 · Investment income

    total $41,880 · excluded $41,880

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,264 · program services $10,264

  • 2 · Grants to domestic individuals

    total $19,000 · program services $19,000

  • 11a · Fees: management

    total $160,000 · program services $103,550 · management and general $56,450

  • 11b · Fees: legal

    total $1,066 · management and general $1,066

  • 11c · Fees: accounting

    total $9,046 · management and general $9,046

  • 11g · Fees: other

    total $12,288 · program services $12,273 · management and general $15

  • 13 · Office expenses

    total $5,886 · program services $2,127 · management and general $3,759

  • 17 · Travel

    total $83,400 · program services $83,400

  • 19 · Conferences, conventions and meetings

    total $4,068 · program services $4,068

  • 24a · Other expenses: TRQ National Research

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

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $10,793,343 · end of year $11,459,401

  • 3 · Pledges and grants receivable

    beginning of year $105,031 · end of year $23,140

  • 9 · Prepaid expenses and deferred charges

    beginning of year $9,433 · end of year $4,256

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $10,150

  • 21 · Escrow or custodial account liability

    beginning of year $9,644,795 · end of year $9,955,524

  • 25 · Other liabilities

    beginning of year $24,931 · end of year $52,823

  • 27 · Net assets without donor restrictions

    beginning of year $544,447 · end of year $795,580

  • 28 · Net assets with donor restrictions

    beginning of year $693,634 · end of year $672,720

Mission and programs · 2024

Mission

The Rice Foundation represents all segments of the US rice industry with a mission to further the well being of its members and ensure the long term sustainability and future competiveness of US rice. This mission includes: Identifying issues important to the rice industry, funding appropriate research projects to address these issues and supporting Foundation leadership and education programs.

Activities or mission (Part I)

To encourage and aid educational activities, scientific experimentation and research related to the U.S. rice industry.

  • Leadership development: The Rice Leadership Development Program gives future leaders a comprehensive understanding of the rice industry, with an emphasis on personal development and communication skills.

    Expenses $174,453

  • Industry Education and Research: A key part of The Rice Foundation's mission is supporting research that benefits the entire U.S. rice industry. Currently, projects focus on conservation, sustainability, and nutrition.The National Rice Month Scholarship Video Contest is an opportunity for graduating high school students living in one of those six rice-growing states to tell a story about U.S. rice.

    Expenses $90,840 · Grants $19,000

  • Regional Conservation Partnership Program: The purpose of the Regional Conservation Partnership Program (RCPP) is to promote coordination between Natural Resources Conservation Service (NRCS) and its partners to deliver conservation assistance to producers and landowners. NRCS provides assistance to producers through partnership agreements and through conservation program contracts or easement agreements.

    Expenses $29,389 · Grants $10,264

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

Listed in Part VII

  • Brian Ottis

    Chair

    Total calculated
    $0
    Hours/week
    1
  • Timothy Gertson

    Immediate Past Chair

    Total calculated
    $0
    Hours/week
    1
  • John Morgan

    Secretary

    Total calculated
    $0
    Hours/week
    1
  • John Denison

    Vice Chair

    Total calculated
    $0
    Hours/week
    1
  • Daniel Berglund

    Member

    Total calculated
    $0
    Hours/week
    1
  • Curtis Berry

    Member

    Total calculated
    $0
    Hours/week
    1
  • Sunny Bottoms

    Member

    Total calculated
    $0
    Hours/week
    1
  • Frank Carey

    Member

    Total calculated
    $0
    Hours/week
    1
  • Derek Clarkson

    Member

    Total calculated
    $0
    Hours/week
    1
  • Chris Crutchfield

    Member

    Total calculated
    $0
    Hours/week
    1
  • Jay Errecarte

    Member

    Total calculated
    $0
    Hours/week
    1
  • Keith Glover

    Member

    Total calculated
    $0
    Hours/week
    1
  • J Bradley Guice

    Member

    Total calculated
    $0
    Hours/week
    1
  • Mark Holt

    Member

    Total calculated
    $0
    Hours/week
    1
  • Meryl Kennedy Farr

    Member

    Total calculated
    $0
    Hours/week
    1
  • Glenn Kernodle

    Member

    Total calculated
    $0
    Hours/week
    1
  • Chris Leon

    Member

    Total calculated
    $0
    Hours/week
    1
  • Bert Manuel

    Member

    Total calculated
    $0
    Hours/week
    1
  • Mike Martin

    Member

    Total calculated
    $0
    Hours/week
    1
  • Michael Moriguchi

    Member

    Total calculated
    $0
    Hours/week
    1
  • Bergen Nelson

    Member

    Total calculated
    $0
    Hours/week
    1
  • Macie O'Shaughnessy

    Member

    Total calculated
    $0
    Hours/week
    1
  • Maria Reyes Castillo

    Member

    Total calculated
    $0
    Hours/week
    1
  • Rick Rhody

    Member

    Total calculated
    $0
    Hours/week
    1
  • Zachary Tanner

    Member

    Total calculated
    $0
    Hours/week
    1
  • Nicole Van Vleck

    Member

    Total calculated
    $0
    Hours/week
    1
  • Jim Whitaker

    Member

    Total calculated
    $0
    Hours/week
    1
  • Peter Bachmann

    President/CEO

    Total calculated
    $352,683
    From this org
    $0
    From related orgs
    $319,079
    Other
    $33,604
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $294,079 related
    Bonus
    $0 + $25,000 related
    Other
    $0
    Deferred
    $0 + $29,274 related
    Nontaxable benefits
    $0 + $4,330 related
    Filer's total
    $0 + $352,683 related
  • Sarah Moran

    Chief Operating Officer

    Total calculated
    $271,762
    From this org
    $0
    From related orgs
    $227,700
    Other
    $44,062
    Hours/week
    2 + 38 related

    Schedule J breakdown matched by us

    Base
    $0 + $227,700 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $24,000 related
    Nontaxable benefits
    $0 + $20,062 related
    Filer's total
    $0 + $271,762 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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 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)

Schedule J, Part I, Line 3:
Methods used by The USA Rice Federation, a related organization, to establish compensation include: Compensation committee Written employment contract Compensation survey or study Approval by the board or compensation committee

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

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
2024
Filed
6 April 2026
IRS schema version
2024v5.5
Source object
202630969349300318

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