Cotton Incorporated FY2022 filing

Not tax-deductible

Cary, NC501(c)(6)Since 1967EIN 62-0786018

Cotton incorporated, funded by u.s. Growers of upland cotton and importers of cotton and cotton textile products, is the research and marketing company representing upland cotton. The program is designed and operated to improve the demand for and profitability of cotton.

$3.6M 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)(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
6 of 6
filings with a surplus
Average surplus $1.6M a year · 2% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.6M
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $17K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$23.3M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
119
of 119 voting members
Looks good: 119 of 119 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$83.2M
+9% vs prior year
Spent
$82.1M
To programs
0%
Net assets
$4.8M
By yearFY2020–FY2025
Revenue
$83.2M
FY2022▲ +9%
Revenue by fiscal year
FY2020$78.7M
FY2021$76.2M
FY2022$83.2M
FY2023$87.2M
FY2024$89.1M
FY2025$86.9M
Expenses
$82.1M
FY2022▲ +13%
Expenses by fiscal year
FY2020$78.4M
FY2021$72.6M
FY2022$82.1M
FY2023$84.5M
FY2024$87.4M
FY2025$86.4M
Net assets
$4.8M
FY2022▲ +32%
Net assets by fiscal year
FY2020$21K
FY2021$3.6M
FY2022$4.8M
FY2023$7.4M
FY2024$9.0M
FY2025$9.5M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1968.

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

Who runs it and what they're paid

131 people listed on the 990; $3.6M paid to officers and key staff.

Part VII, Section A · reportable compensation
President & CEO
$735,873Pt VII · Sec A
VP Agricult/Envir. Research
$365,438Pt VII · Sec A
SR VP, Global Supp Chain Mktg
$341,597Pt VII · Sec A
SR. VP, Consumer Marketing
$277,853Pt VII · Sec A
VP Admin. & Assistant to Pres.
$274,642Pt VII · Sec A
VP & Managing Director - Pdi
$259,991Pt VII · Sec A
$239,074Pt VII · Sec A
VP, Chief Sustainability Offcr
$236,951Pt VII · Sec A

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
J Berrye Worsham—$784,861$724,994$735,873$692,594$676,575
William Kimbrell$456,634$350,168$236,863———
Mark Messura$417,003$357,939$349,588$341,597$311,397$316,074
Kater Hake———$365,438$298,903$305,518
Kimberly S Kitchings$355,833$317,614$291,002$277,853$254,910$255,816
David Byrd————$277,777$304,659
Mike Shen$289,738$281,297$268,840$259,991$223,706$227,287
John Morgans—$271,721$289,305$274,642$260,362$262,727

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

Promotes cotton and cotton products through research, education, and marketing.

Provided by the organization

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3 program services, described in the organization's own filed words · FY2022.
01

Consumer Marketing

The advertising department continued the success of the your cotton, your way campaign for a second year. The campaign, targeted to adults ages 18 to 49, with a female skew, aimed to highlight the comfort of cotton and the confidence it provides to reinforce the fabric of our lives message.

Pt IX · col B
02

Global Supply Chain Marketing

The global supply chain marketing division is responsible for promoting the use of cotton in products ranging from apparel to home textiles and consumer items such as diapers, disposable wipes, and hygiene products.

Pt IX · col B
03

Agricultural Research

The agricultural research division's main objective is to improve the profitability of U.S. Cotton production by directing and funding the creation of agricultural innovations and their adoption by cotton producers.

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 · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$17K
Grants paid · 6 grants · $1.9M · 2020–2025
Unitemized GrantFY2025$394,834
Unitemized GrantFY2024$274,085
Unitemized GrantFY2023$257,514
Unitemized GrantFY2022$259,943
Unitemized GrantFY2021$326,988
Unitemized GrantFY2020$356,881

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$83.2M
Ln 12
Gifts and grantsLn 1h$83.2M
Money outPt IX
$82.1M
Ln 25
Owns and owesPt X
$4.8M
net assets · Ln 32
Cash and savingsLn 1–2$6.2M
Total assetsLn 16$28.0M
LiabilitiesLn 26$23.3M
PeoplePt VI, VII
131
listed · VII A
PaidVII A12
Voting boardVI 1a119
IndependentVI 1b119
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$83.2M
Government grantsLn 1e$40K
Gains on assetsLn 7$0
Total revenueLn 12$83.2M
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$6.2M
Cash and savings togetherLn 1–2$6.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$4.2M
Other assetsLn 15$5.7M
Total assetsLn 16$28.0M
LiabilitiesLn 26$23.3M
Net assetsLn 32$4.8M
OperationsPt I, VI
EmployeesI 5151
VolunteersI 6107
Fiscal year endsHeaderDecember
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$6.2M$6.2M
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$4.7M$4.2M
Total assetsLn 16$22.7M$28.0M
LiabilitiesLn 26$19.1M$23.3M
Net assetsLn 32$3.6M$4.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$260K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$3.1M
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$14.5M
Pension plan contributionsLn 8$72K
Other employee benefitsLn 9$2.6M
Payroll taxesLn 10$1.0M
Management feesLn 11a$3.7M
Legal feesLn 11b$332K
Accounting feesLn 11c$166K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$242K
Other fees for servicesLn 11g$700K
Advertising and promotionLn 12$26.2M
Office expensesLn 13$426K
Information technologyLn 14$1.2M
RoyaltiesLn 15$0
OccupancyLn 16$1.5M
TravelLn 17$1.6M
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$1.7M
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$1.6M
InsuranceLn 23$198K
Other expenses (24a–d)Ln 24$19.2M
All other expensesLn 24e$1.8M
Total functional expensesLn 25$82.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $86.9M$86.4M$496K$9.5M 990 PDF
FY2024 $89.1M$87.4M$1.6M$9.0M 990 PDF
FY2023 $87.2M$84.5M$2.6M$7.4M 990 PDF
FY2022 Viewing $83.2M$82.1M$1.1M$4.8M 990 PDF
FY2021 $76.2M$72.6M$3.6M$3.6M 990 PDF
FY2020 $78.7M$78.4M$371K$21K 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 $83,241,579 across 9 lines filed
VIII-1e Government grants$40,000
VIII-1f All other contributions, gifts and grants$83,201,579
VIII-1h Total contributions, gifts and grants$83,241,579
VIII-3 Investment income$0
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenue$83,241,579
Part IX · Statement of functional expenses $82,108,003 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$259,943
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$3,133,650
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$14,468,343
IX-8 Pension plan contributions$72,421
IX-9 Other employee benefits$2,585,250
IX-10 Payroll taxes$1,018,204
IX-11a Management fees$3,683,787
IX-11b Legal fees$332,443
IX-11c Accounting fees$165,916
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$241,681
IX-11g Other fees for services$699,612
IX-12 Advertising and promotion$26,235,397
IX-13 Office expenses$425,979
IX-14 Information technology$1,169,507
IX-15 Royalties$0
IX-16 Occupancy$1,514,999
IX-17 Travel$1,560,212
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$1,724,672
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$1,649,578
IX-23 Insurance$197,530
IX-24 Other expenses (24a–d)$19,152,349
IX-24e All other expenses$1,816,530
IX-25 Total functional expenses$82,108,003
Part X · Balance sheet $28,047,677 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $1,976$1,961
X-2 Savings and temporary cash investmentsStart of year $6,171,187$6,179,843
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $10,310,342$10,849,987
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $1,151,343$1,118,108
X-10c Land, buildings and equipment, netStart of year $4,746,588$4,184,539
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $330,744$5,713,239
X-16 Total assetsStart of year $22,712,180$28,047,677
X-17 Accounts payable and accrued expensesStart of year $17,878,152$18,606,254
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $1,239,673$4,690,772
X-26 Total liabilitiesStart of year $19,117,825$23,297,026
X-27 Net assets without donor restrictionsStart of year $3,594,355$4,750,651
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $3,594,355$4,750,651
X-33 Total liabilities and net assetsStart of year $22,712,180$28,047,677
Part XI · Reconciliation of net assets $4,750,651 net assets at year end
XI-1 Total revenue$83,241,579
XI-2 Total expenses$82,108,003
XI-3 Revenue less expenses$1,133,576
XI-4 Net assets at start of year$3,594,355
XI-8 Prior period adjustments$22,720
XI-10 Net assets at end of year$4,750,651

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

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