Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $150,951

• 1f · All other contributions, gifts and grants

  $384,841

• 2a · Program service revenue: SPONSORSHIPS

  total $635,600 · related or exempt $635,600

• 2b · Program service revenue: CONFERENCE & EVENT REG

  total $114,798 · related or exempt $114,798

• 3 · Investment income

  total $23,427 · excluded $23,427

• 7a · Gross sales of assets other than inventory

  securities $224,121

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

  securities $227,210

• 7c · Gain or loss

  securities -$3,089

• 7d · Net gain or loss

  total -$3,089 · excluded -$3,089

• 11a · Other revenue: OTHER REVENUE

  total $1,616 · related or exempt $1,616

• 11e · Other revenue, total

  $1,616

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $52,800 · program services $52,800

• 11c · Fees: accounting

  total $19,580 · management and general $19,580

• 11f · Fees: investment management

  total $5,582 · management and general $5,582

• 11g · Fees: other

  total $652,472 · program services $377,923 · management and general $238,172 · fundraising $36,377

• 13 · Office expenses

  total $1,424 · program services $1,304 · management and general $120

• 14 · Information technology

  total $25,919 · program services $1,800 · management and general $24,119

• 17 · Travel

  total $130,110 · program services $108,518 · management and general $21,592

• 19 · Conferences, conventions and meetings

  total $506,301 · program services $480,121 · management and general $5,489 · fundraising $20,691

• 22 · Depreciation, depletion and amortization

  total $5,482 · program services $5,482

• 24a · Other expenses: OTHER FEES

  total $30,590 · program services $13,080 · management and general $12,609 · fundraising $4,901

• 24b · Other expenses: SPONSORSHIPS

  total $10,000 · management and general $10,000

• 24c · Other expenses: CREDIT CARD FEES

  total $7,087 · program services $6,702 · fundraising $385

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $495,142 · end of year $12,335

• 2 · Savings and temporary cash investments

  beginning of year $565,022 · end of year $977,899

• 3 · Pledges and grants receivable

  beginning of year $47,145 · end of year $22,994

• 9 · Prepaid expenses and deferred charges

  beginning of year $143,603 · end of year $8,023

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

  $16,437

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

  $14,614

• 10c · Land, buildings and equipment, net

  beginning of year $7,305 · end of year $1,823

• 11 · Investments: publicly traded securities

  beginning of year $277,589 · end of year $300,507

• 15 · Other assets

  beginning of year $313,757 · end of year $302,394

• 17 · Accounts payable and accrued expenses

  beginning of year $58,765 · end of year $9,725

• 19 · Deferred revenue

  beginning of year $78,000 · end of year $2,400

• 27 · Net assets without donor restrictions

  beginning of year $1,405,849 · end of year $1,310,008

• 28 · Net assets with donor restrictions

  beginning of year $306,949 · end of year $303,842

The filer's explanations (Part III)

PART I, LINE 3

CEO, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT - THIS PROCESS IS HANDLED BY OUR EXECUTIVE COMMITTEE OFFICERS. THEY MEET ONE DAY PRIOR TO AN ALREADY SCHEDULED MEETING AND EVALUATE THE PRESIDENT & CEO YEAR AND THEN TOGETHER DETERMINE WHAT BENEFITS HE WOULD RECEIVE BASED ON THOSE FACTS WHICH INCLUDES ANY SALARY INCREASE, BONUS, OR DEFERRED COMPENSATION. ABOUT EVERY THREE YEARS THE ASSOCIATION CONDUCTS A SALARY SURVEY THAT IS PROVIDED TO THE MEMBERS OF THE BOARD. THE ORGANIZATION IS CURRENTLY USING AN EXECUTIVE COMPENSATION CONTRACTOR TO PROVIDE A COMPENSATION STUDY FOR THE CEO POSITION. THE COMPENSATION COMMITTEE FOR THE EXECUTIVE DIRECTOR STILL USES THE CHAIRMAN, CHAIR-ELECT, AND IMMEDIATE PAST CHAIR TO REVIEW AND HANDLE ALL COMPENSATION MATTERS.

PART I, LINE 4B

INTERNATIONAL FRESH PRODUCE ASSOCIATION HAS A NON-QUALIFIED DEFERRED COMPENSATION PLAN COVERING CERTAIN EMPLOYEES UNDER IRC SECTION 457(F), INCLUDING A CONTRIBUTION TO THE PLAN FOR CATHERINE BURNS OF $159,915.