Soybean Research Development Council FY2024 filing

Not tax-deductible

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

Promotion of the soybean industry

$45K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2024 · 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
$45K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 10.5 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
$839K
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
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
$2.0M
-16% vs prior year
Spent
$1.8M
Net assets
$811K
By yearFY2020–FY2025
Revenue
$2.0M
FY2024▼ -16%
Revenue by fiscal year
FY2020$442K
FY2021$687K
FY2022$2.4M
FY2023$2.4M
FY2024$2.0M
FY2025$1.4M
Expenses
$1.8M
FY2024▼ -14%
Expenses by fiscal year
FY2020$444K
FY2021$689K
FY2022$1.5M
FY2023$2.1M
FY2024$1.8M
FY2025$1.3M
Net assets
$811K
FY2024▼ -32%
Net assets by fiscal year
FY2020$81K
FY2021$79K
FY2022$942K
FY2023$1.2M
FY2024$811K
FY2025$928K

From the FY2024 Form 990 (year ending September 2024) · figures checked against the IRS filing · see the original

You’re viewing the FY2024 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; $45K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chief Officer of Demand &
$41,589Pt VII · Sec A
Chief Executive Officer
$1,733Pt VII · Sec A
Chief Financial Officer
$1,291Pt VII · Sec A
SR. Director of Information
$423Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President Elect
$0Pt VII · Sec A
Treasurer
$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

This section is blank until Soybean Research Development Council claims this page.

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1 program service, described in the organization's own filed words · FY2023.
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

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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 FY2024 990, line by line.

1The main four
Money inPt VIII
$2.0M
Ln 12
Fees for servicesLn 2g$994K
Gifts and grantsLn 1h$970K
Investment incomeLn 3$15K
Money outPt IX
$1.8M
Ln 25
Owns and owesPt X
$811K
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$1.6M
LiabilitiesLn 26$839K
PeoplePt VI, VII
9
listed · VII A
PaidVII A4
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$970K
Fees for servicesLn 2g$994K
Investment incomeLn 3$15K
Total revenueLn 12$2.0M
Assets in detailPt X, end of year
CashLn 1$1.6M
Cash and savings togetherLn 1–2$1.6M
Total assetsLn 16$1.6M
LiabilitiesLn 26$839K
Net assetsLn 32$811K
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 FY24End FY24
Cash and savingsLn 1–2$1.5M$1.6M
Total assetsLn 16$1.6M$1.6M
LiabilitiesLn 26$413K$839K
Net assetsLn 32$1.2M$811K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$162K
Pension plan contributionsLn 8$17K
Other employee benefitsLn 9$32K
Payroll taxesLn 10$12K
Legal feesLn 11b$81
Accounting feesLn 11c$5K
Other fees for servicesLn 11g$1.4M
Advertising and promotionLn 12$204
Office expensesLn 13$3K
Information technologyLn 14$9K
OccupancyLn 16$2K
TravelLn 17$26K
Conferences, conventions and meetingsLn 19$105K
Depreciation, depletion and amortizationLn 22$4K
InsuranceLn 23$833
Other expenses (24a–d)Ln 24$6K
All other expensesLn 24e$4K
Total functional expensesLn 25$1.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.4M$1.3M$117K$928K 990 PDF
FY2024 Viewing $2.0M$1.8M$160K$811K 990 PDF
FY2023 $2.4M$2.1M$247K$1.2M 990 PDF
FY2022 $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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $1,978,835 across 5 lines filed
VIII-1f All other contributions, gifts and grants$969,900
VIII-1h Total contributions, gifts and grants$969,900
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $993,965$993,965
VIII-3 Investment incomeExcluded from tax $14,970$14,970
VIII-12 Total revenueRelated to mission $993,965 · Unrelated business $0 · Excluded from tax $14,970$1,978,835
Part IX · Statement of functional expenses $1,818,646 across 17 lines filed
IX-7 Other salaries and wages$162,360
IX-8 Pension plan contributions$16,779
IX-9 Other employee benefits$31,930
IX-10 Payroll taxes$11,517
IX-11b Legal fees$81
IX-11c Accounting fees$4,704
IX-11g Other fees for services$1,431,243
IX-12 Advertising and promotion$204
IX-13 Office expenses$3,008
IX-14 Information technology$9,114
IX-16 Occupancy$1,539
IX-17 Travel$26,224
IX-19 Conferences, conventions and meetings$104,647
IX-22 Depreciation, depletion and amortization$4,094
IX-23 Insurance$833
IX-24 Other expenses (24a–d)$5,961
IX-24e All other expenses$4,408
IX-25 Total functional expenses$1,818,646
Part X · Balance sheet $1,649,855 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,473,486$1,596,483
X-4 Accounts receivableStart of year $125,310$52,665
X-9 Prepaid expenses and deferred chargesStart of year $3,318$707
X-16 Total assetsStart of year $1,602,114$1,649,855
X-17 Accounts payable and accrued expensesStart of year $382,277$796,418
X-19 Deferred revenueStart of year $31,187$42,327
X-26 Total liabilitiesStart of year $413,464$838,745
X-27 Net assets without donor restrictionsStart of year $104,568$27,960
X-28 Net assets with donor restrictionsStart of year $1,084,082$783,150
X-32 Total net assets or fund balancesStart of year $1,188,650$811,110
X-33 Total liabilities and net assetsStart of year $1,602,114$1,649,855
Part XI · Reconciliation of net assets $811,110 net assets at year end
XI-1 Total revenue$1,978,835
XI-2 Total expenses$1,818,646
XI-3 Revenue less expenses$160,189
XI-4 Net assets at start of year$1,188,650
XI-9 Other changes in net assets−$537,729
XI-10 Net assets at end of year$811,110

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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