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← NATIONAL ASSOCIATION OF WHEAT GROWERS FOUNDATION INC

Form 990 for tax year 2023

Filed by NATIONAL ASSOCIATION OF WHEAT GROWERS FOUNDATION INC.

Totals

Total revenue
$577,035
Total expenses
$742,716
Contributions and grants received
$399,954
Grants paid
$5,000
Program service revenue
$0
Investment income
$163,820
Other revenue
$13,261
Total assets, end of year
$8,860,236
Total liabilities, end of year
$1,149,619
Net assets or fund balances, end of year
$7,710,617
Program services expenses (Part IX)
$523,255
Management and general expenses
$198,413
Fundraising expenses
$21,048
Program service expenses (Part III)
$523,255

Program services were 70.5% 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

    $399,954

  • 3 · Investment income

    total $197,770 · excluded $197,770

  • 6a · Gross rents

    real property $13,261

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $13,261

  • 6d · Net rental income or loss

    total $13,261 · excluded $13,261

  • 7a · Gross sales of assets other than inventory

    securities $2,777,819

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

    securities $2,811,769

  • 7c · Gain or loss

    securities -$33,950

  • 7d · Net gain or loss

    total -$33,950 · excluded -$33,950

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $5,000 · program services $5,000

  • 11a · Fees: management

    total $198,000 · program services $118,800 · management and general $69,300 · fundraising $9,900

  • 11b · Fees: legal

    total $17,950 · program services $15,258 · management and general $1,794 · fundraising $898

  • 11c · Fees: accounting

    total $34,773 · program services $29,557 · management and general $3,477 · fundraising $1,739

  • 11f · Fees: investment management

    total $50,247 · management and general $50,247

  • 13 · Office expenses

    total $4,244 · management and general $4,244

  • 16 · Occupancy

    total $167,300 · program services $100,380 · management and general $58,555 · fundraising $8,365

  • 17 · Travel

    total $3,179 · management and general $3,179

  • 19 · Conferences, conventions and meetings

    total $131,929 · program services $125,333 · management and general $6,596

  • 22 · Depreciation, depletion and amortization

    total $2,917 · program services $1,750 · management and general $1,021 · fundraising $146

  • 24a · Other expenses: SPECIAL PROJECTS

    total $127,177 · program services $127,177

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $231,639 · end of year $66,911

  • 2 · Savings and temporary cash investments

    beginning of year $202,108 · end of year $466,168

  • 4 · Accounts receivable

    beginning of year $41,500 · end of year $7,610

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,000

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

    $172,863

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

    $3,782

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $169,081

  • 11 · Investments: publicly traded securities

    beginning of year $6,936,495 · end of year $7,099,944

  • 15 · Other assets

    beginning of year $1,263,917 · end of year $1,050,522

  • 17 · Accounts payable and accrued expenses

    beginning of year $27,908 · end of year $1,228

  • 25 · Other liabilities

    beginning of year $1,391,031 · end of year $1,148,391

  • 27 · Net assets without donor restrictions

    beginning of year $7,036,029 · end of year $7,520,766

  • 28 · Net assets with donor restrictions

    beginning of year $225,691 · end of year $189,851

Mission and programs · 2023

Mission

TO PURPOSEFULLY ADVANCE THE WHEAT INDUSTRY THROUGH STRATEGIC RESEARCH, EDUCATION AND OUTREACH COLLABORATIONS, GUIDED BY CORE VALUES OF GROWER CENTEREDNESS, INTEGRITY, HONESTY AND TRUSTWORTHINESS.

  • THE NATIONAL ASSOCIATION OF WHEAT GROWERS FOUNDATION (D/B/A NATIONAL WHEAT FOUNDATION) (THE "FOUNDATION") WAS ORGANIZED TO CARRY OUT THE PURELY EDUCATIONAL, CULTURAL AND CHARITABLE ACTIVITIES OF THE NATIONAL ASSOCIATION OF WHEAT GROWERS. THE FOUNDATION IS EMPOWERED TO PROMOTE AND ENCOURAGE BY MEANS OF SCIENTIFIC INVESTIGATIONS, RESEARCH OR OTHERWISE, THE ADVANCEMENT OF THE SCIENCE OF WHEAT GROWING, THE CONSERVATION OF THE NATURAL RESOURCES OF THE UNITED STATES THROUGH THE DEVELOPMENT OF GOOD FARMING AND FARM MARKETING PRACTICES, THE DEVELOPMENT OF NEW USES AND MARKETS FOR IMPROVED STRAINS FOR WHEAT AND WHEAT BY-PRODUCTS AND THE DISSEMINATION OF EDUCATIONAL MATERIALS AND CARRYING OUT THE EDUCATION PROGRAMS AIMED AT IMPROVING THE SKILL OF PERSONS ENGAGED IN THE GROWING AND MARKETING OF WHEAT IN THE U.S.

    Expenses $523,255 · Grants $5,000

As filed on the 2023 return.

Listed in Part VII

  • Bernard Peterson

    CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Scott Brown

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    5

  • Gary Broyles

    SECRETARY/TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Jeff Blackwood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Mark Haugland

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ben Scholz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brian Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ken Wood

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Carl Schwinke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Chandler Goule

    EXECUTIVE DIRECTOR

    Total calculated
    $340,004
    From this org
    $0
    From related orgs
    $320,000
    Other
    $20,004
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $310,000 related
    Bonus
    $0 + $10,000 related
    Other
    $0
    Deferred
    $0 + $8,910 related
    Nontaxable benefits
    $0 + $11,094 related
    Filer's total
    $0 + $340,004 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

  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE EXECUTIVE DIRECTOR'S BONUS IS AWARDED BASED ON MERIT AND PAID BY NATIONAL ASSOCIATION OF WHEAT GROWERS, THE SUPPORTED ORGANIZATION.
FORM 990, SCHEDULE J, PART I, LINE 3:
THE EXECUTIVE DIRECTOR IS PAID BY NATIONAL ASSOCIATION OF WHEAT GROWERS, THE SUPPORTED ORGANIZATION.

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.

  • NATIONAL ASSOCIATION OF WHEAT GROWERS

    501(C)(6) · TRADE ASSOCIATION · CO

  • NATIONAL ASSOCIATION OF WHEAT GROWERS PAC

    527 · POLITICAL ACTION COMMITTEE · DC

    Directly controlled by NATIONAL ASSOCIATION OF WHEAT GROWERS

Provenance

Return type
form_990
Tax year
2023
Filed
13 January 2025
IRS schema version
2023v6.0
Source object
202520159349300227

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