Southeast Produce Council FY2021 filing

EIN 59-3588273 Business league / trade association Millen, GA Founded 1999

Form 990 (PDF)

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

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Verified accurate 8/15/26 · see original filing: IRS

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Size

$1–10M

What they do

Connects Southeastern produce professionals through networking, education, and relationship-building.

Leadership

David Sherrod · President CEO · $245K

Money in and out

$4.0M revenue, $2.9M expenses

Bottom line

+29% operating surplus

Connects Southeastern produce professionals through networking, education, and relationship-building. For fiscal year 2021 it reported $4.0M in revenue, $2.9M in expenses, and $5.6M in net assets.Pt I

Membership & operating revenue · FY2021

Total revenue

$4.0M

Pt VIII · Ln 12

Total expenses

$2.9M

Pt IX · Ln 25

Net assets

$5.6M

Pt X · Ln 32

Revenue less expenses (Pt I · Ln 19): $1.2M

Where spending went · Part IX cols B–D

93%

Program services $0.93 Management & general $0.07

Operating surplus

+29%

revenue over expenses

Earned revenue

87%

of revenue from program services & dues

Payroll share

14%

of spending is salaries & benefits

Summary of the Filing

Part I · fiscal year 2021 · Form 990

Revenue

$4.0M

FY2021

Expenses

$2.9M

FY2021

Total assets

$5.6M

FY2021

Total liabilities

$73K

FY2021

Total revenue

$4.0M

Pt VIII · Ln 12

Total expenses

$2.9M

Pt IX · Ln 25

Net assets

$5.6M

Pt X · Ln 32

Revenue less expensesPt I · Ln 19$1.2M

Total assetsPt X · Ln 16$5.6M

Program-expense ratioPt IX · col B93%

Voting members of governing bodyPt I · Ln 318

Independent voting membersPt I · Ln 417

Mission & Programs · Part III

Where the work happens

1 program service account for $2.7M of program spending, described in the organization's own filed words · FY2020.

Southern Exposure

A premier trade show event in the produce industry. Attended by the top retailers, foodservice operators, growers, shippers, and service members in the industrystep upp: flagship development program for up and coming produce professionals.

$2.7Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File

Legal nameHdr · item CSoutheast Produce Council

EINHdr · item D59-3588273

Principal addressHdr · item CMillen, GA

WebsiteHdr · item Jwww.seproducecouncil.com

Year of formationHdr · item L1999

State of legal domicileHdr · item MGA

Exempt statusHdr · item I501(c)(6) · active

NTEE classificationIRS BMFFood & Agriculture (K20)

Ruling yearIRS BMFNov 2000

Governance & Policies

Part VI

Voting members of the governing bodyPt VI · Ln 1a18

Independent voting membersPt VI · Ln 1b17

Conflict-of-interest policyPt VI · Ln 12aYes

Whistleblower policyPt VI · Ln 13No

Document retention policyPt VI · Ln 14Yes

CEO/top-official compensation independently reviewedPt VI · Ln 15aNo

Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII

David Sherrod

President CEO

$244,928Pt VII · Sec A

David Sherrod’s $309K as Presidentceo is at the 98th percentile of top reported officer pay among 819 $1–10M food & agriculture 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 · 1 named individual · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021
David Sherrod	$308,654	$282,462	$71,923	$258,000	$244,928

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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Statement of Revenue

Part VIII

Program service revenue$3.5M · 87%

Contributions & grants$460K · 11%

Investment income$23K · 1%

Other revenue$49K · 1%

Program service revenue87%$3.5M

Contributions & grants11%$460K

Investment income1%$23K

Other revenue1%$49K

Total revenueLn 12$4.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising

Allocation · columns B–D

93%

Program services $0.93 Management & general $0.07

Program services93%$2.7M

Management & general7%$197K

Total functional expensesLn 25$2.9M

Balance Sheet

Part X · end of year

CashLn 1$4.4M

Total assetsLn 16$5.6M

Total liabilitiesLn 26$73K

Total net assetsLn 32$5.6M

Months of cash on handcomputed18.3

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it

Liquidity & Payout

Operating runway

Highly liquid reserves $4.4M · Operating expenses/yr $2.9M

18.3 months

Where the money goes

Program services

Program services $2.7M · Total expenses $2.9M

93%

Management & General

Management & general $197K · Total expenses $2.9M

Fundraising

Fundraising $0 · Total expenses $2.9M

Cost to raise $1

Fundraising expense $0 · Solicited contributions $460K

Solicited contributions below reporting floor

Where the money comes from

Contribution dependence

Contributions & grants $460K · Total revenue $4.0M

11%

Government reliance

Government grants — · Total revenue $4.0M

—

Earned-income share

Program service revenue $3.5M · Total revenue $4.0M

87%

Investment reliance

Investment income $23K · Total revenue $4.0M

+1%

Program self-sufficiency

Program service revenue $3.5M · Total expenses $2.9M

122%

Growth & trend

Revenue growth (YoY)

This year $4.0M · Prior year —

No prior year on file

Net-asset trend (YoY)

End of year $5.6M · Beginning of year —

Beginning net assets not meaningfully positive — showing dollar change

Balance sheet

Surplus Margin

Revenue $4.0M · Expenses $2.9M

+29%

Liabilities-to-Assets

Total liabilities — · Total assets $5.6M

—

Net-asset ratio

Net assets $5.6M · Total assets $5.6M

99%

Marketable Investment Share

Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $5.6M

Excludes program-related investments (Pt X, ln 13)

People & payroll

Highest Reported Total Compensation

Individual David Sherrod · Reported title PRESIDENT CEO · Highest reported compensation $245K · Total expenses $2.9M

Personnel share

Salaries, benefits & payroll (Pt IX 5-10) $399K · Total expenses $2.9M

14%

Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

Metric	This org	Peer median	Percentile
Program ratio	93%	—	—
Overhead ratio	7%	—	—
Fundraising cost ratio	0%	—	—
Accounting fee ratio	0%	—	—

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

FY2025 (Latest)$8.3M revenue · ⤓ 990 PDF

FY2024$6.5M revenue · ⤓ 990 PDF

FY2023$6.5M revenue · ⤓ 990 PDF

FY2022$6.0M revenue · ⤓ 990 PDF

FY2021$4.0M revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings

Form 990 e-file (XML) · FY2021IRS

Classification, formation year, addressIRS Business Master File

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