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Grain Elevator and Processing Society FY2022 filing

Not tax-deductible

Minneapolis, MN501(c)(6)Since 1974Community Development EIN 36-6101799Revenue $5.5M in FY2022

On file with the IRSgeaps.com2001 Killebrew Dr Ste 112, 55425-1871 · Minneapolis, MNTax-exempt since Sep 2011

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To champion, connect and serve the global Grain industry and our members.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$697K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
4 of 5
filings with a surplus
Average surplus $560K a year · 14% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$697K
to officers and key staff · 17% of spending
Fine: pay to officers and key staff is 17% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Plus $2.9M in investments, Pt X · Ln 11–13
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $24K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$558K
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
17
of 17 voting members
Looks good: 17 of 17 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.5M
+255% vs prior year
Spent
$4.0M
Net assets
$2.9M
By yearFY2021–FY2025
Revenue
$5.5M
FY2022▲ +255%
Tap a bar for its year
Revenue by fiscal year
FY2021$1.5M
FY2022$5.5M
FY2023$3.8M
FY2024$4.1M
FY2025$4.5M
Expenses
$4.0M
FY2022▲ +80%
Tap a bar for its year
Expenses by fiscal year
FY2021$2.2M
FY2022$4.0M
FY2023$3.2M
FY2024$3.3M
FY2025$3.8M
Net assets
$2.9M
FY2022▲ +41%
Tap a bar for its year
Net assets by fiscal year
FY2021$2.1M
FY2022$2.9M
FY2023$3.7M
FY2024$4.7M
FY2025$5.6M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 ruling in Sep 2011.

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

Who runs it and what they're paid

23 people listed on the 990; $697K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Steve Records
Executive Director
$194,745Pt VII · Sec A
Julia Kloehn
Director of Operations
$157,006Pt VII · Sec A
Jay Bergland
Director of Professional Development
$131,121Pt VII · Sec A
Adrianne Fjerstad-Miller
Conference & Expo Director
$113,076Pt VII · Sec A
Brittany Labatt
Sales & Conference Manager
$101,156Pt VII · Sec A
Bob Horvat
Treasurer
$0Pt VII · Sec A
Casey Abel
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

John Caupert’s $217K as Executive Director is at the 71st percentile of top reported officer pay among 2832 $1–10M community development nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Steve Records——$225,408$194,745$211,022
John Caupert$216,654$7,692———
Julia Kloehn$176,531$189,457$171,187$157,006$165,822
Jay Bergland———$131,121$136,180
Adrianne Fjerstad-Miller$128,400$126,408$125,861$113,076$117,713
Betsy Polis$111,257$101,487———
Deb Most$107,396$107,196$109,490—$103,807
Brittany Labatt—$108,687$108,210$101,156—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Connects global agriculture professionals to share grain industry knowledge.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Geaps provides educational programs and networking opportunities for grain-related industry professionals. After the cancellation of the 2020 geaps exchange conference, FY22 brought two conferences.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Grain Elevator and Processing Society FoundationFY2024$24K
Total grants receivedfrom 1 funder$24K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$5.5M
Ln 12
Fees for servicesLn 2g$4.5M
Gifts and grantsLn 1h$482K
Investment incomeLn 3$329K
Money outPt IX
$4.0M
Ln 25
Owns and owesPt X
$2.9M
net assets · Ln 32
Cash and savingsLn 1–2$385K
Total assetsLn 16$3.5M
LiabilitiesLn 26$558K
PeoplePt VI, VII
23
listed · VII A
PaidVII A5
Voting boardVI 1a17
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$482K
Government grantsLn 1e$482K
Fees for servicesLn 2g$4.5M
Investment incomeLn 3$329K
Other incomeLn 4–11$161K
Gains on assetsLn 7$239K
Total revenueLn 12$5.5M
Assets in detailPt X, end of year
CashLn 1$236K
SavingsLn 2$149K
Cash and savings togetherLn 1–2$385K
InvestmentsLn 11–13$2.9M
Land, buildings, equipmentLn 10c$13K
Other assetsLn 15$10K
Total assetsLn 16$3.5M
LiabilitiesLn 26$558K
Net assetsLn 32$2.9M
OperationsPt I, VI
EmployeesI 513
VolunteersI 6150
Fiscal year endsHeaderJune
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 FY22End FY22
Cash and savingsLn 1–2$1.4M$385K
InvestmentsLn 11–13$3.1M$2.9M
Land, buildings, equipmentLn 10c$18K$13K
Total assetsLn 16$4.7M$3.5M
LiabilitiesLn 26$2.6M$558K
Net assetsLn 32$2.1M$2.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$422K
Other salaries and wagesLn 7$984K
Other employee benefitsLn 9$32K
Payroll taxesLn 10$92K
Legal feesLn 11b$88K
Investment management feesLn 11f$23K
Other fees for servicesLn 11g$53K
Advertising and promotionLn 12$73K
Information technologyLn 14$225K
OccupancyLn 16$143K
TravelLn 17$61K
Conferences, conventions and meetingsLn 19$1.1M
Depreciation, depletion and amortizationLn 22$5K
InsuranceLn 23$23K
Other expenses (24a–d)Ln 24$401K
All other expensesLn 24e$257K
Total functional expensesLn 25$4.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $4.5M$3.8M$643K$5.6M 990 PDF
FY2024 $4.1M$3.3M$802K$4.7M 990 PDF
FY2023 $3.8M$3.2M$582K$3.7M 990 PDF
FY2022 Viewing $5.5M$4.0M$1.5M$2.9M 990 PDF
FY2021 $1.5M$2.2M−$684K$2.1M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $5,479,710 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $13,250$481,510
I-9 Program service revenuePrior year $1,224,668$4,507,893
I-10 Investment incomePrior year $175,533$329,112
I-11 Other revenuePrior year $131,999$161,195
I-12 Total revenuePrior year $1,545,450$5,479,710
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,350,652$1,530,050
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $879,217$2,490,111
I-18 Total expensesPrior year $2,229,869$4,020,161
I-19 Revenue less expensesPrior year −$684,419$1,459,549
Part VI · Governance 17 of 17 board members independent, no flags
VI-1a Voting members of the governing body17
VI-1b Independent voting members17
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,479,710 across 7 lines filed
Lines not itemized here account for $9,923 of total revenue; see the IRS return.
VIII-1e Government grants$481,510
VIII-1h Total contributions, gifts and grants$481,510
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,375,675 · Unrelated business $122,295$4,497,970
VIII-3 Investment incomeExcluded from tax $89,742$89,742
VIII-7 Net gain or loss on sales of assetsExcluded from tax $239,370$239,370
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $161,195$161,195
VIII-12 Total revenueRelated to mission $4,385,598 · Unrelated business $122,295 · Excluded from tax $490,307$5,479,710
Part IX · Statement of functional expenses $4,020,161 across 16 lines filed
IX-5 Pay of current officers, directors and key staff$422,250
IX-7 Other salaries and wages$983,792
IX-9 Other employee benefits$31,658
IX-10 Payroll taxes$92,350
IX-11b Legal fees$88,387
IX-11f Investment management fees$23,251
IX-11g Other fees for services$52,927
IX-12 Advertising and promotion$72,777
IX-14 Information technology$224,804
IX-16 Occupancy$142,988
IX-17 Travel$60,690
IX-19 Conferences, conventions and meetings$1,138,195
IX-22 Depreciation, depletion and amortization$4,889
IX-23 Insurance$23,420
IX-24 Other expenses (24a–d)$400,816
IX-24e All other expenses$256,967
IX-25 Total functional expenses$4,020,161
Part X · Balance sheet $3,501,132 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $806,800$236,084
X-2 Savings and temporary cash investmentsStart of year $593,045$148,592
X-4 Accounts receivableStart of year $25,225$15,025
X-9 Prepaid expenses and deferred chargesStart of year $146,891$156,070
X-10c Land, buildings and equipment, netStart of year $18,107$13,218
X-11 Publicly traded securitiesStart of year $3,118,317$1,910,787
X-12 Other securities$1,011,195
X-15 Other assetsStart of year $10,161$10,161
X-16 Total assetsStart of year $4,718,546$3,501,132
X-17 Accounts payable and accrued expensesStart of year $66,022$19,203
X-19 Deferred revenueStart of year $2,148,808$539,008
X-25 Other liabilitiesStart of year $412,500$0
X-26 Total liabilitiesStart of year $2,627,330$558,211
X-27 Net assets without donor restrictionsStart of year $0$442,921
X-28 Net assets with donor restrictionsStart of year $2,091,216$2,500,000
X-32 Total net assets or fund balancesStart of year $2,091,216$2,942,921
X-33 Total liabilities and net assetsStart of year $4,718,546$3,501,132
Part XI · Reconciliation of net assets $2,942,921 net assets at year end
XI-1 Total revenue$5,479,710
XI-2 Total expenses$4,020,161
XI-3 Revenue less expenses$1,459,549
XI-4 Net assets at start of year$2,091,216
XI-5 Net unrealized gains (losses) on investments−$607,844
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,942,921

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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