Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $434,295

• 1f · All other contributions, gifts and grants

  $286,750

• 2a · Program service revenue: GLOBAL PRODUCE AND FLORAL SHOW

  total $27,361,606 · related or exempt $27,361,606

• 2b · Program service revenue: MEMBERSHIP DUES

  total $10,123,884 · related or exempt $10,123,884

• 2c · Program service revenue: SUBSCRIPTION FEES

  total $2,071 · related or exempt $2,071

• 3 · Investment income

  total $809,725 · excluded $809,725

• 5 · Royalties

  total $65,926 · excluded $65,926

• 7a · Gross sales of assets other than inventory

  securities $1,537,385

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

  securities $383,462

• 7c · Gain or loss

  securities $1,153,923

• 7d · Net gain or loss

  total $1,153,923 · excluded $1,153,923

• 11a · Other revenue: INSURANCE SETTLEMENT PROCEEDS

  total $6,500,000 · excluded $6,500,000

• 11b · Other revenue: MISCELLANEOUS REVENUE

  total $247,819 · related or exempt $247,819

• 11c · Other revenue: GAIN ON FOREIGN CURRENCY EXCHANGE

  total $1,782 · related or exempt $1,782

• 11e · Other revenue, total

  $6,749,601

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $41,538

• 5 · Compensation of officers, directors and key employees

  total $2,561,731

• 7 · Other salaries and wages

  total $8,918,882

• 8 · Pension plan contributions

  total $624,576

• 9 · Other employee benefits

  total $1,241,038

• 10 · Payroll taxes

  total $927,108

• 11b · Fees: legal

  total $378,225

• 11c · Fees: accounting

  total $112,149

• 11d · Fees: lobbying

  total $411,101

• 11f · Fees: investment management

  total $132,165

• 11g · Fees: other

  total $6,100,774

• 13 · Office expenses

  total $491,690

• 14 · Information technology

  total $1,519,753

• 16 · Occupancy

  total $504,755

• 17 · Travel

  total $1,231,842

• 19 · Conferences, conventions and meetings

  total $8,412,874

• 22 · Depreciation, depletion and amortization

  total $243,061

• 23 · Insurance

  total $198,575

• 24a · Other expenses: CREDIT CARD FEES, DUES

  total $635,215

• 24b · Other expenses: CONTRIBUTIONS AND SPONS

  total $497,464

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,677,360 · end of year $2,795,732

• 2 · Savings and temporary cash investments

  beginning of year $3,354,194 · end of year $11,855,928

• 3 · Pledges and grants receivable

  end of year $337,018

• 4 · Accounts receivable

  beginning of year $337,832 · end of year $312,899

• 9 · Prepaid expenses and deferred charges

  beginning of year $599,991 · end of year $1,296,123

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

  $6,984,681

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

  $5,615,999

• 10c · Land, buildings and equipment, net

  beginning of year $1,993,459 · end of year $1,368,682

• 11 · Investments: publicly traded securities

  beginning of year $16,575,898 · end of year $18,257,670

• 14 · Intangible assets

  beginning of year $337,638 · end of year $325,995

• 15 · Other assets

  beginning of year $1,804,786 · end of year $2,092,930

• 17 · Accounts payable and accrued expenses

  beginning of year $3,905,538 · end of year $2,951,825

• 19 · Deferred revenue

  beginning of year $6,139,061 · end of year $7,583,324

• 25 · Other liabilities

  beginning of year $2,831,840 · end of year $2,267,464

• 27 · Net assets without donor restrictions

  beginning of year $13,804,719 · end of year $25,840,364

The filer's explanations (Part III)

PART I, LINE 1A

ANY SPOUSAL TRAVEL IS TAXED AS W-2 WAGES.

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, LINES 4A-B

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 $123,016.