Michigan Seed Potato Association
- Assets
- $204.2k
- Revenue
- $261.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Gaylord, MI
- Founding
- 05/1998
- Data as of
- 05/2023
- EIN
- 38-3302973
Organization Overview
Michigan Seed Potato Association is located in Gaylord, MI. The organization was established in 1998. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 05/2023, Michigan Seed Potato Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Michigan Seed Potato Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2023, Michigan Seed Potato Association generated $261.7k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $287.7k during the year ending 05/2023. While expenses have increased by 3.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FUNCTION AS A SEED CERTIFYING AGENCY AND TO CARRY OUT EDUCATIONAL AND SCIENTIFIC ACTIVITIES TO FURTHER THE PRODUCTION AND USE OF IMPROVED SEED STOCK.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CERTIFICATION OF SEED POTATO STOCK, SHIPPING AND GREENHOUSES; WINTER TESTING TO IMPROVE GRADE OF SEED STOCK. SERVICES PROVIDED TO 15 FARMERS THROUGHOUT THE STATE OF MICHIGAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gerald Krueger President | OfficerTrustee | 3 | $0 |
Jesse Cousineau Secretary/tr | OfficerTrustee | 2 | $0 |
Bryan Fischer Director | Trustee | 1 | $0 |
Scott Hanson Director | Trustee | 1 | $0 |
Tyler Sackett Director | Trustee | 1 | $0 |
Elizabeth Dorman Ex-Officio | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $251 |
| 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 | $251 |
| Total Program Service Revenue | $261,399 |
| Investment income | $42 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $261,692 |
| 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. | $58,923 |
| Compensation of current officers, directors, key employees. | $7,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $69,035 |
| Pension plan accruals and contributions | $4,253 |
| Other employee benefits | $8,700 |
| Payroll taxes | $9,525 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,315 |
| Advertising and promotion | $2,027 |
| Office expenses | $3,495 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $7,286 |
| Travel | $9,096 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,033 |
| Interest | $148 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,537 |
| Insurance | $3,279 |
| All other expenses | $2,960 |
| Total functional expenses | $287,714 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $60,508 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $135,242 |
| 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 | $1,838 |
| Net Land, buildings, and equipment | $6,641 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $204,229 |
| Accounts payable and accrued expenses | $13,345 |
| 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 | $13,345 |
| Net assets without donor restrictions | $190,884 |
| 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 | $204,229 |