Soybean Research Development Council FY2022 filing

Not tax-deductible

Ankeny, IA501(c)(5)UnclassifiedEIN 39-1899505

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Promotion of the Soybean industry

$582 paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
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 6
filings with a surplus
Average surplus $230K a year · 15% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$582
to officers and key staff · 0.04% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $65K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$488K
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.4M
+246% vs prior year
Spent
$1.5M
Net assets
$942K
By yearFY2020–FY2025
Revenue
$2.4M
FY2022▲ +246%
Revenue by fiscal year
FY2020$442K
FY2021$687K
FY2022$2.4M
FY2023$2.4M
FY2024$2.0M
FY2025$1.4M
Expenses
$1.5M
FY2022▲ +119%
Expenses by fiscal year
FY2020$444K
FY2021$689K
FY2022$1.5M
FY2023$2.1M
FY2024$1.8M
FY2025$1.3M
Net assets
$942K
FY2022▲ ×12
Net assets by fiscal year
FY2020$81K
FY2021$79K
FY2022$942K
FY2023$1.2M
FY2024$811K
FY2025$928K

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

Form 990 (PDF) Claim
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 Jan 1999.

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

Who runs it and what they're paid

9 people listed on the 990; $582 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
Chief Financial Officer
$582Pt VII · Sec A
President, Through 9/6
$0Pt VII · Sec A
Secretary, Beginning 9/7
$0Pt VII · Sec A
President, Beginning 9/7
$0Pt VII · Sec A
Treasurer, Through 9/6
$0Pt VII · Sec A
At Large, Beginning 9/7
$0Pt VII · Sec A
Treasurer, Beginning 9/7
$0Pt VII · Sec A
Chief Executive Officer
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Matt Herman—$41,589$184,653———
Kirk Leeds$8,627$1,733————
Steve McGinnis—$1,291$654$582$508—
Aaron Putze—$423————
Donna Donovan—————$193

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.

See Soybean Research Development Council 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

Promotes the soybean industry through research and education.

Provided by the organization

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1 program · in their own filed words · FY2021
01

To improve the production and utilization of soybeans and soybean products, to better the conditions of those engaged in the production and utilization of soybeans and soybean products, and to develop a higher degree of efficiency.

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
Total grants receivedfrom 1 funder$65K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$2.4M
Ln 12
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$738K
Investment incomeLn 3$1K
Money outPt IX
$1.5M
Ln 25
Owns and owesPt X
$942K
net assets · Ln 32
Cash and savingsLn 1–2$979K
Total assetsLn 16$1.4M
LiabilitiesLn 26$488K
PeoplePt VI, VII
9
listed · VII A
PaidVII A1
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.6M
Fees for servicesLn 2g$738K
Investment incomeLn 3$1K
Total revenueLn 12$2.4M
Assets in detailPt X, end of year
CashLn 1$979K
Cash and savings togetherLn 1–2$979K
Total assetsLn 16$1.4M
LiabilitiesLn 26$488K
Net assetsLn 32$942K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
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 FY22End FY22
Cash and savingsLn 1–2$569K$979K
Total assetsLn 16$631K$1.4M
LiabilitiesLn 26$553K$488K
Net assetsLn 32$79K$942K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$180K
Pension plan contributionsLn 8$20K
Other employee benefitsLn 9$38K
Payroll taxesLn 10$13K
Legal feesLn 11b$6
Accounting feesLn 11c$1K
Other fees for servicesLn 11g$1.1M
Advertising and promotionLn 12$5K
Office expensesLn 13$3K
Information technologyLn 14$4K
OccupancyLn 16$3K
TravelLn 17$27K
Conferences, conventions and meetingsLn 19$69K
InterestLn 20$99
Depreciation, depletion and amortizationLn 22$8K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$14K
All other expensesLn 24e$573
Total functional expensesLn 25$1.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4M$1.3M$117K$928K 990 PDF
FY2024 $2.0M$1.8M$160K$811K 990 PDF
FY2023 $2.4M$2.1M$247K$1.2M 990 PDF
FY2022 Viewing $2.4M$1.5M$863K$942K 990 PDF
FY2021 $687K$689K−$3K$79K 990 PDF
FY2020 $442K$444K−$2K$81K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $2,374,408 across 6 lines filed
VIII-1d Related organizations$700,000
VIII-1f All other contributions, gifts and grants$935,000
VIII-1h Total contributions, gifts and grants$1,635,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $738,256$738,256
VIII-3 Investment incomeExcluded from tax $1,152$1,152
VIII-12 Total revenueRelated to mission $738,256 · Unrelated business $0 · Excluded from tax $1,152$2,374,408
Part IX · Statement of functional expenses $1,511,302 across 18 lines filed
IX-7 Other salaries and wages$180,411
IX-8 Pension plan contributions$19,878
IX-9 Other employee benefits$37,998
IX-10 Payroll taxes$12,710
IX-11b Legal fees$6
IX-11c Accounting fees$1,229
IX-11g Other fees for services$1,122,370
IX-12 Advertising and promotion$5,299
IX-13 Office expenses$2,804
IX-14 Information technology$4,341
IX-16 Occupancy$3,318
IX-17 Travel$27,313
IX-19 Conferences, conventions and meetings$69,021
IX-20 Interest$99
IX-22 Depreciation, depletion and amortization$8,154
IX-23 Insurance$1,868
IX-24 Other expenses (24a–d)$13,910
IX-24e All other expenses$573
IX-25 Total functional expenses$1,511,302
Part X · Balance sheet $1,429,304 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $568,512$979,394
X-4 Accounts receivableStart of year $62,923$449,910
X-16 Total assetsStart of year $631,435$1,429,304
X-17 Accounts payable and accrued expensesStart of year $506,240$466,916
X-19 Deferred revenueStart of year $46,516$20,603
X-26 Total liabilitiesStart of year $552,756$487,519
X-27 Net assets without donor restrictionsStart of year $78,679$108,792
X-28 Net assets with donor restrictions$832,993
X-32 Total net assets or fund balancesStart of year $78,679$941,785
X-33 Total liabilities and net assetsStart of year $631,435$1,429,304
Part XI · Reconciliation of net assets $941,785 net assets at year end
XI-1 Total revenue$2,374,408
XI-2 Total expenses$1,511,302
XI-3 Revenue less expenses$863,106
XI-4 Net assets at start of year$78,679
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$941,785

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

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