Form 990 for tax year 2024
Filed by SOYBEAN RESEARCH DEVELOPMENT COUNCIL.
Totals
- Total revenue
- $1,399,907
- Total expenses
- $1,282,607
- Contributions and grants received
- $475,000
- Grants paid
- $0
- Program service revenue
- $877,483
- Investment income
- $47,424
- Other revenue
- $0
- Total assets, end of year
- $1,164,570
- Total liabilities, end of year
- $236,160
- Net assets or fund balances, end of year
- $928,410
- 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.
-
1f · All other contributions, gifts and grants
$475,000
-
2a · Program service revenue: CONTRACT REVENUE
total $877,483 · related or exempt $877,483
-
3 · Investment income
total $47,424 · excluded $47,424
Functional expenses
Part IX, the statement of functional expenses.
-
7 · Other salaries and wages
total $6,229
-
11c · Fees: accounting
total $4,679
-
11g · Fees: other
total $1,253,311
-
12 · Advertising and promotion
total $1
-
13 · Office expenses
total $627
-
14 · Information technology
total $2,271
-
16 · Occupancy
total $134
-
17 · Travel
total $729
-
19 · Conferences, conventions and meetings
total $10,648
-
22 · Depreciation, depletion and amortization
total $517
-
23 · Insurance
total $68
-
24a · Other expenses: GIFTS AND AWARDS
total $2,640
-
24b · Other expenses: EQUIPMENT
total $709
-
24c · Other expenses: DUES AND SUBSCRIPTIONS
total $6
-
24d · Other expenses: MEALS AND ENTERTAINMENT
total $4
-
24e · All other expenses
total $34
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,596,483 · end of year $609
-
2 · Savings and temporary cash investments
end of year $1,139,961
-
4 · Accounts receivable
beginning of year $52,665 · end of year $24,000
-
9 · Prepaid expenses and deferred charges
beginning of year $707 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $796,418 · end of year $236,160
-
19 · Deferred revenue
beginning of year $42,327 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $27,960 · end of year $198,749
-
28 · Net assets with donor restrictions
beginning of year $783,150 · end of year $729,661
Mission and programs · 2024
Mission
PROMOTION OF THE SOYBEAN INDUSTRY.
-
TO IMPROVE THE PRODUCTION AND UTILIZATION OF SOYBEANS AND SOYBEAN PRODUCTS, TO BETTER THE CONDITIONS OF THOSE ENGAGED IN THE PRODUCTION AND UTILIZATION OF SOYBEANS AND SOYBEAN PRODUCTS, AND TO DEVELOP A HIGHER DEGREE OF EFFICIENCY.
As filed on the 2024 return.
Listed in Part VII
-
Brent Swart - End SeptBRENT SWART - END SEPT
PRESIDENT
- Total calculated
- $8,949
- From this org
- $0
- From related orgs
- $8,949
- Other
- $0
- Hours/week
- 0.5 + 3 related
-
Tom AdamTOM ADAM
PRESIDENT
- Total calculated
- $1,200
- From this org
- $0
- From related orgs
- $1,200
- Other
- $0
- Hours/week
- 0.5 + 3 related
-
Lee BrookeLEE BROOKE
PRESIDENT ELECT
- Total calculated
- $700
- From this org
- $0
- From related orgs
- $700
- Other
- $0
- Hours/week
- 0.5 + 3 related
-
Sam ShowalterSAM SHOWALTER
TREASURER
- Total calculated
- $3,100
- From this org
- $0
- From related orgs
- $3,100
- Other
- $0
- Hours/week
- 0.5 + 3 related
-
Scot Bailey - End SeptSCOT BAILEY - END SEPT
DIRECTOR
- Total calculated
- $3,900
- From this org
- $0
- From related orgs
- $3,900
- Other
- $0
- Hours/week
- 0.5 + 1 related
-
Aimee BissellAIMEE BISSELL
SECRETARY
- Total calculated
- $3,100
- From this org
- $0
- From related orgs
- $3,100
- Other
- $0
- Hours/week
- 0.5 + 3 related
-
Jeff EllisJEFF ELLIS
DIRECTOR
- Total calculated
- $3,100
- From this org
- $0
- From related orgs
- $3,100
- Other
- $0
- Hours/week
- 0.5 + 1 related
-
Kirk LeedsKIRK LEEDS
CHIEF EXECUTIVE OFFICER
- Total calculated
- $527,704
- From this org
- $8,627
- From related orgs
- $462,797
- Other
- $56,280
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $8,479 + $454,861 related
- Bonus
- $148 + $7,936 related
- Other
- $0
- Deferred
- $578 + $30,981 related
- Nontaxable benefits
- $452 + $24,269 related
- Filer's total
- $9,657 + $518,047 related
-
Steve McGinnisSTEVE MCGINNIS
CHIEF FINANCIAL OFFICER
- Total calculated
- $252,993
- From this org
- $0
- From related orgs
- $209,698
- Other
- $43,295
- Hours/week
- 0.5 + 39.5 related
Schedule J breakdown matched by us
- Base
- $0 + $202,639 related
- Bonus
- $0 + $7,059 related
- Other
- $0
- Deferred
- $0 + $18,979 related
- Nontaxable benefits
- $0 + $24,316 related
- Filer's total
- $0 + $252,993 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
The filer's explanations (Part III)
- PART I, LINE 3
- SRDC DOES NOT HAVE EMPLOYEES, ALL EMPLOYEES WHO WORK ON SRDC ARE EMPLOYEES OF IOWA SOYBEAN ASSOCIATION (ISA) SRDC'S PARENT ORGANIZATION. COMPENSATION OF THE CEO OF ISA WAS ESTABLISHED USING ALL METHODS LISTED IN 3 WITH THE EXCEPTION OF INDEPENDENT COMPENSATION CONSULTANT.
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.
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.
-
501(C)(5) · TO AID IN THE PROMOTION OF THE SOYBEAN INDUSTRY THROUGH PROJECTS AND PROGRAM · IA
-
AG TECHNOLOGY & ENVIRONMENTAL STEWARDSHIP FOUNDATION
501(C)(3) · PROMOTION AND RESEARCH FOR AGRICULTURAL TECHNOLOGY · IA
Directly controlled by IOWA SOYBEAN ASSOCIATION
-
501(C)(3) · PROMOTION AND DEVELOPMENT OF SOYBEAN FOODS AND INGREDIENTS · IA
Directly controlled by IOWA SOYBEAN ASSOCIATION
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
ISA MANAGEMENT SOLUTIONS INC
C · PROVIDE PROFESSIONAL MANAGEMENT, MARKETING, AND PUBLIC RELATION SERVICES · IA
Directly controlled by IOWA SOYBEAN ASSOCIATION
-
AGOUTCOMES INC
C · STRENGTHEN FARMER EFFORTS TO PROTECT WATER QUALITY AND SEQUESTER CARBON. · IA
Directly controlled by IOWA SOYBEAN ASSOCIATION
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 12 February 2026
- IRS schema version
- 2024v5.5
- Source object
- 202610479349300301
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