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Nonprofiteer
← MARYLAND SOYBEAN BOARD

Form 990 for tax year 2023

Filed by MARYLAND SOYBEAN BOARD.

Totals

Total revenue
$1,493,482
Total expenses
$1,433,619
Contributions and grants received
$124,103
Grants paid
$843,228
Program service revenue
$1,337,374
Investment income
$16,722
Other revenue
$15,283
Total assets, end of year
$1,103,180
Total liabilities, end of year
$157,267
Net assets or fund balances, end of year
$945,913
Program services expenses (Part IX)
$1,317,532
Management and general expenses
$116,087
Fundraising expenses
$0
Program service expenses (Part III)
$1,317,532

Program services were 91.9% 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

    $124,103

  • 2a · Program service revenue: ASSESSMENTS 1ST PURCHA

    total $1,337,374 · related or exempt $1,337,374

  • 3 · Investment income

    total $16,722 · related or exempt $16,722

  • 11a · Other revenue: MISCELLANEOUS

    total $15,283 · related or exempt $15,283

  • 11e · Other revenue, total

    $15,283

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $843,228 · program services $843,228

  • 11a · Fees: management

    total $77,186 · management and general $77,186

  • 11c · Fees: accounting

    total $8,400 · management and general $8,400

  • 11g · Fees: other

    total $474,304 · program services $474,304

  • 13 · Office expenses

    total $3,147 · management and general $3,147

  • 23 · Insurance

    total $2,151 · management and general $2,151

  • 24a · Other expenses: MISCELLANEOUS

    total $10,741 · management and general $10,741

  • 24b · Other expenses: BOARD OF DIRECTORS EXPE

    total $9,579 · management and general $9,579

  • 24c · Other expenses: TELEPHONE

    total $4,883 · management and general $4,883

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $673,982 · end of year $591,268

  • 2 · Savings and temporary cash investments

    beginning of year $415,000 · end of year $430,281

  • 4 · Accounts receivable

    beginning of year $106,638 · end of year $81,631

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

    $4,679

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

    $4,679

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $242,569 · end of year $104,367

  • 18 · Grants payable

    beginning of year $67,001 · end of year $52,900

  • 27 · Net assets without donor restrictions

    beginning of year $886,050 · end of year $945,913

Mission and programs · 2023

Mission

TO COLLECT ASSESSMENTS AND DISBURSE THE MONEY COLLECTED TO FUND PROJECTS RELATED TO MARKETING, PROMOTION OF SOYBEANS AND NEW USES, SOYBEAN EDUCATION, AND SOYBEAN RESEARCH TO DECREASE PRODUCTION COSTS TO FARMERS.

Activities or mission (Part I)

TO FUND PROJECTS RELATED TO THE EXPANSION OF SOYBEAN EXPORTS, PROMOTION OF SOYBEANS, EDUCATING FARMERS AND CONSUMERS OF SOYBEAN RESEARCH.

  • REQUIRED BY FEDERAL LAW TO FORWARD HALF THE ASSESSMENTS COLLECTED TO THE UNITED SOYBEAN BOARD.

    Expenses $668,687

  • TO FUND IN-STATE (MARYLAND) SOYBEAN RELATED RESEARCH.

    Expenses $174,541

  • PROMOTION OF SOYBEANS AT VARIOUS FAIRS AND MEETINGS, EDUCATIONAL PROGRAMS ON SOYBEANS AND THEIR MANY USES, COMMUNICATION OF BOARD ACTIVITIES THROUGH NEWS RELEASES, NEWSLETTERS, ANNUAL REPORT, AND SOCIAL MEDIA.

    Expenses $474,304

As filed on the 2023 return.

Listed in Part VII

  • Joshua Appenzeller

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Eddie Boyle

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • Curt Lambertson

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Ralph Stambaugh

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Dale Brown

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Steve Walter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Randy Stabler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Jason Spicer

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Evan Stanley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Shane King

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

  • Tyler Rill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0

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.

Grants on this return

  • UNITED STATES SOYBEAN BOARD

    $0

    REQUIRED REMITTANCE TO USB (50% OF ASSESSMENT REVENUE)

  • UNIVERSITY OF MARYLAND

    $0

    RESEARCH

  • UNIVERSITY OF DELAWARE

    $0

    RESEARCH

Provenance

Return type
form_990
Tax year
2023
Filed
7 April 2025
IRS schema version
2023v6.0
Source object
202540999349301014

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