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Nonprofiteer
← MIDSOUTH GRAIN INSPECTION SERVICES

Form 990 for tax year 2022

Filed by MIDSOUTH GRAIN INSPECTION SERVICES.

Totals

Total revenue
$4,138,755
Total expenses
$4,553,000
Contributions and grants received
$0
Grants paid
$67,292
Program service revenue
$3,618,356
Investment income
$512,399
Other revenue
$8,000
Total assets, end of year
$3,614,327
Total liabilities, end of year
$643,489
Net assets or fund balances, end of year
$2,970,838
Program services expenses (Part IX)
$3,086,304
Management and general expenses
$1,466,696
Fundraising expenses
$0
Program service expenses (Part III)
$3,086,304

Program services were 67.8% 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.

  • 2a · Program service revenue: INSPECTION FEES

    total $3,603,033 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: GRAIN SALES

    total $15,323 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $34,179 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $8,000

  • 6c · Rental income or loss

    real property $8,000

  • 6d · Net rental income or loss

    total $8,000 · excluded $8,000

  • 7a · Gross sales of assets other than inventory

    securities $2,859,975

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

    securities $2,381,755

  • 7c · Gain or loss

    securities $478,220

  • 7d · Net gain or loss

    total $478,220 · related or exempt $0 · unrelated business $0 · excluded $478,220

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $67,292 · program services $67,292

  • 5 · Compensation of officers, directors and key employees

    total $430,927 · program services $166,927 · management and general $264,000 · fundraising $0

  • 7 · Other salaries and wages

    total $2,120,939 · program services $1,877,687 · management and general $243,252 · fundraising $0

  • 8 · Pension plan contributions

    total $46,481 · program services $20,032 · management and general $26,449 · fundraising $0

  • 9 · Other employee benefits

    total $156,658 · program services $97,713 · management and general $58,945 · fundraising $0

  • 10 · Payroll taxes

    total $218,233 · program services $180,942 · management and general $37,291 · fundraising $0

  • 11a · Fees: management

    total $566,000 · program services $0 · management and general $566,000 · fundraising $0

  • 11c · Fees: accounting

    total $9,099 · program services $0 · management and general $9,099 · fundraising $0

  • 11f · Fees: investment management

    total $21,482 · program services $0 · management and general $21,482 · fundraising $0

  • 13 · Office expenses

    total $89,946 · program services $77,486 · management and general $12,460 · fundraising $0

  • 16 · Occupancy

    total $19,966 · program services $19,966 · management and general $0 · fundraising $0

  • 17 · Travel

    total $378,402 · program services $342,920 · management and general $35,482 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $126,615 · program services $12,904 · management and general $113,711 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $19,625 · program services $15,508 · management and general $4,117 · fundraising $0

  • 23 · Insurance

    total $99,564 · program services $97,523 · management and general $2,041 · fundraising $0

  • 24a · Other expenses: WORKERS COMP

    total $29,616 · program services $29,616 · management and general $0 · fundraising $0

  • 24b · Other expenses: FREIGHT

    total $33,967 · program services $23,340 · management and general $10,627 · fundraising $0

  • 24c · Other expenses: ADMINISTRATION

    total $42,531 · program services $14,857 · management and general $27,674 · fundraising $0

  • 24e · All other expenses

    total $75,657 · program services $41,591 · management and general $34,066 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $470,320 · end of year $564,552

  • 2 · Savings and temporary cash investments

    beginning of year $964,880 · end of year $1,294,805

  • 4 · Accounts receivable

    beginning of year $389,812 · end of year $415,765

  • 9 · Prepaid expenses and deferred charges

    beginning of year $79,834 · end of year $73,043

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

    $872,641

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

    $785,149

  • 10c · Land, buildings and equipment, net

    beginning of year $66,884 · end of year $87,492

  • 11 · Investments: publicly traded securities

    beginning of year $3,111,711 · end of year $1,178,670

  • 17 · Accounts payable and accrued expenses

    beginning of year $704,326 · end of year $643,489

  • 27 · Net assets without donor restrictions

    beginning of year $4,379,115 · end of year $2,970,838

Mission and programs · 2022

Mission

TO PROVIDE INSPECTION SERVICES FOR THE GRAIN COMMODITY MARKET IN THE MIDSOUTH REGION PURSUANT TO ITS DESIGNATION FROM THE UNITED STATES DEPARTMENT OF AGRICULTURE.

  • PROVIDE INSPECTION SERVICES FOR THE GRAIN COMMODITY MARKET IN THE MIDSOUTH REGION

    Expenses $3,086,304 · Grants $67,292 · Revenue $3,618,356

As filed on the 2022 return.

Listed in Part VII

  • Ken Arnold

    DIRECTOR

    Total calculated
    $69,550
    From this org
    $69,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Lindsay Reid

    DIRECTOR

    Total calculated
    $92,400
    From this org
    $92,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Gene Cochran

    DIRECTOR

    Total calculated
    $92,400
    From this org
    $92,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • David Colby

    VICE-PRESIDENT

    Total calculated
    $92,400
    From this org
    $92,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Owen Reid

    DIRECTOR

    Total calculated
    $92,400
    From this org
    $92,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dian Berryman McQuire

    PRESIDENT

    Total calculated
    $88,000
    From this org
    $88,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Seldon Murray

    DIRECTOR

    Total calculated
    $104,500
    From this org
    $104,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Joseph Cupples

    GENERAL MGR/EXEC VP

    Total calculated
    $176,400
    From this org
    $176,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $90,000
    Bonus
    $75,000
    Other
    $11,400
    Deferred
    $4,056
    Nontaxable benefits
    $14,554
    Filer's total
    $195,010

  • Ricky Hickman

    ASST GENERAL MGR/CHIEF INSPECTOR

    Total calculated
    $89,527
    From this org
    $89,527
    From related orgs
    $0
    Other
    $0
    Hours/week
    50

  • James Rossetti

    CHIEF FINANCIAL OFFICER/SECRETARY

    Total calculated
    $165,000
    From this org
    $165,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $90,000
    Bonus
    $75,000
    Other
    $0
    Deferred
    $6,600
    Nontaxable benefits
    $14,523
    Filer's total
    $186,123

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

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

Provenance

Return type
form_990
Tax year
2022
Filed
16 August 2023
IRS schema version
2022v5.0
Source object
202332289349301458

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