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Delaware Soybean Board FY2021 filing

Salisbury, MDUnknown exempt organizationSince 1985 EIN 20-4402220Revenue $393K in FY2021

On file with the IRSdesoybeans.orgP O Box 319 · Salisbury, MD

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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.

89¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $50K a year · 12% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
89%
of spending
Looks good: 89% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 8.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$25K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$393K
Spent
$305K
To programs
89%
Net assets
$198K
By yearFY2021–FY2025
Revenue
$393K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$393K
FY2022$490K
FY2023$469K
FY2024$446K
FY2025$345K
Expenses
$305K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$305K
FY2022$424K
FY2023$396K
FY2024$441K
FY2025$329K
Net assets
$198K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$198K
FY2022$264K
FY2023$336K
FY2024$342K
FY2025$358K

From the FY2021 Form 990 (year ending September 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

89 cents of each dollar spent went to programs.

Program services 89% · $271K Management & general 11% · $33K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Cory Atkins
Chairman
$0Pt VII · Sec A
Mike Clay
Vice Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chad Dempsey
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Tim Rogers
Director
$0Pt VII · Sec A
See Delaware Soybean Board executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds projects promoting soybean exports, research, and educating farmers and consumers.

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Provided by the organization

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3 programs · $271K · in their own filed words · FY2020
01

Required by federal law to forward half the assessments collected to the united soybean board.

$186Kprogram expense
02

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.

$57Kprogram expense
03

To fund in-state (delaware) soybean related research.

$29Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 10 grants · $1.3M · 2020–2024
United States Soybean BoardFY2024$159,859
University of DelawareDE · FY2024$57,275
United States Soybean BoardFY2023$214,664
University of DelawareDE · FY2023$73,501
United States Soybean BoardFY2022$224,997
University of DelawareDE · FY2022$55,932
United States Soybean BoardFY2021$239,649
University of DelawareDE · FY2021$69,627
United States Soybean BoardFY2020$185,978
University of DelawareDE · FY2020$28,775

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$393K
Ln 12
Fees for servicesLn 2g$378K
Gifts and grantsLn 1h$13K
Investment incomeLn 3$912
Money outPt IX
$305K
Ln 25
Programscol B$271K
Managementcol C$33K
Owns and owesPt X
$198K
net assets · Ln 32
Cash and savingsLn 1–2$211K
Total assetsLn 16$223K
LiabilitiesLn 26$25K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$13K
Fees for servicesLn 2g$378K
Investment incomeLn 3$912
Other incomeLn 4–11$368
Total revenueLn 12$393K
Assets in detailPt X, end of year
CashLn 1$211K
Cash and savings togetherLn 1–2$211K
Land, buildings, equipmentLn 10c$7K
Total assetsLn 16$223K
LiabilitiesLn 26$25K
Net assetsLn 32$198K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$42K$211K
Land, buildings, equipmentLn 10c$0$7K
Total assetsLn 16$171K$223K
LiabilitiesLn 26$60K$25K
Net assetsLn 32$110K$198K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$215K$215K
Management feesLn 11a$23K$23K
Accounting feesLn 11c$6K$6K
Other fees for servicesLn 11g$57K$57K
Office expensesLn 13$248$248
Depreciation, depletion and amortizationLn 22$433$433
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$305K$271K$33K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $345K$329K$17K$358K 990 PDF
FY2024 $446K$441K$5K$342K 990 PDF
FY2023 $469K$396K$73K$336K 990 PDF
FY2022 $490K$424K$66K$264K 990 PDF
FY2021 Viewing $393K$305K$88K$198K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $392,538 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,764$12,926
I-9 Program service revenuePrior year $261,170$378,332
I-10 Investment incomePrior year $1,588$912
I-11 Other revenuePrior year $11,050$368
I-12 Total revenuePrior year $280,572$392,538
I-13 Grants and similar amounts paidPrior year $178,959$214,753
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $106,864$90,116
I-18 Total expensesPrior year $285,823$304,869
I-19 Revenue less expensesPrior year −$5,251$87,669
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $392,538 across 6 lines filed
VIII-1f All other contributions, gifts and grants$12,926
VIII-1h Total contributions, gifts and grants$12,926
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $378,332$378,332
VIII-3 Investment incomeRelated to mission $912$912
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $368$368
VIII-12 Total revenueRelated to mission $379,612 · Unrelated business $0 · Excluded from tax $0$392,538
Part IX · Statement of functional expenses $304,869 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $214,753$214,753
IX-11a Management feesManagement $23,491$23,491
IX-11c Accounting feesManagement $6,000$6,000
IX-11g Other fees for servicesPrograms $56,621$56,621
IX-13 Office expensesManagement $248$248
IX-22 Depreciation, depletion and amortizationManagement $433$433
IX-23 InsuranceManagement $1,412$1,412
IX-24 Other expenses (24a–d)Management $1,911$1,911
IX-25 Total functional expensesPrograms $271,374 · Management $33,495 · Fundraising $0$304,869
Part X · Balance sheet $223,134 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $41,646$210,562
X-4 Accounts receivableStart of year $19,229$5,735
X-10c Land, buildings and equipment, netStart of year $0$6,837
X-16 Total assetsStart of year $170,618$223,134
X-17 Accounts payable and accrued expensesStart of year $27,691$17,214
X-18 Grants payableStart of year $32,445$7,769
X-26 Total liabilitiesStart of year $60,136$24,983
X-27 Net assets without donor restrictionsStart of year $110,482$198,151
X-32 Total net assets or fund balancesStart of year $110,482$198,151
X-33 Total liabilities and net assetsStart of year $170,618$223,134
Part XI · Reconciliation of net assets $198,151 net assets at year end
XI-1 Total revenue$392,538
XI-2 Total expenses$304,869
XI-3 Revenue less expenses$87,669
XI-4 Net assets at start of year$110,482
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$198,151

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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