Agricap Fund Inc
- Assets
- $13.0m
- Revenue
- $234.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Sioux Falls, SD
- Founding
- 09/2009
- Data as of
- 12/2021
- EIN
- 27-0500843
Organization Overview
Agricap Fund Inc is located in Sioux Falls, SD. The organization was established in 2009. According to its NTEE Classification (K03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Agricap Fund Inc is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2021, Agricap Fund Inc generated $234.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (23.3%) each year. All expenses for the organization totaled $90.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE CONDITIONS, EFFICIENCY, AND ECONOMIC GROWTH IN A CHANGING AGRICULTURE ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FUND IS ORGANIZED TO: (I) IMPROVE THE CONDITIONS OF SOUTH DAKOTA CORN PRODUCERS THROUGH THE PRESERVATION AND IMPROVEMENT OF EXISTING FARM PRACTICES. (II) DEVELOP A HIGH DEGREE OF EFFICIENCY IN AGRICULTURE AND RELATED FIELDS THROUGH THE RESEARCH, DEVELOPMENT AND PROMOTION OF LIVE SCIENCES AND TECHNOLOGY. (III) PROVIDE ITS MEMBERS WITH THE OPPORTUNITY FOR LASTING ECONOMIC GROWTH IN A CHANGING AGRICULTURE ENVIRONMENT. IN ADDITION, THE FUND MAY ENGAGE IN SUCH OTHER PURPOSES AS ARE ALLOWED TO A NONPROFIT CORPORATION UNDER LAW AND AS AUTHORIZED BY THE BOARD OF DIRECTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Jaspers Secretary/tr | OfficerTrustee | $0 | |
Lisa Richardson Secretary/tr | OfficerTrustee | $0 | |
Robert Walsh Vice Preside | OfficerTrustee | $0 | |
Scott Stahl President | OfficerTrustee | $0 | |
Grant Rix Director | Trustee | $0 | |
Keith Alverson Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $238,232 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,116 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $234,116 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,578 |
| Fees for services: Accounting | $4,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $7,400 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $90,532 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,158 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $7,166,046 |
| Investments—other securities | $0 |
| Investments—program-related | $5,734,570 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,003,774 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $13,003,774 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $13,003,774 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Association For Food Protection Inc Des Moines, IA | $6,002,857 | $4,277,261 |
The Agribank District Farm Council Inc St Paul, MN | $839,364 | $2,996,130 |
Cereals & Grains Association St Paul, MN | $2,814,182 | $1,253,736 |
Nebraska Pork Producers Assn Inc Lincoln, NE | $1,172,751 | $1,258,116 |
Dakota County Agricultural Society Farmington, MN | $2,769,180 | $1,335,916 |
Iowa Institute For Cooperatives Ames, IA | $1,054,400 | $967,389 |
Sustainable Farming Association Of Minnesota Minneapolis, MN | $255,659 | $302,809 |
Minn School Food Service Assoc Inc St Paul, MN | $522,150 | $318,889 |
Us Pork Center Of Excellence Clive, IA | $517,330 | $150,903 |
Jasper County Agricultural Society Colfax, IA | $101,347 | $0 |
Dickinson County Agricultural Society Spirit Lake, IA | $3,101,777 | $275,215 |
Furnas County Agricultural Society Beaver City, NE | $366,293 | $180,152 |