American Sweet Potato Marketing Institute Inc
- Assets
- $166.2k
- Revenue
- $358.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Benson, NC
- Founding
- 06/2014
- Data as of
- 12/2021
- EIN
- 46-2425262
Organization Overview
American Sweet Potato Marketing Institute Inc is located in Benson, NC. The organization was established in 2014. According to its NTEE Classification (K99) the organization is classified as: Food, Agriculture & Nutrition N.E.C., 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. American Sweet Potato Marketing Institute Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, American Sweet Potato Marketing Institute Inc generated $358.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $398.1k during the year ending 12/2021. While expenses have increased by 8.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE EXEMPT PURPOSE OF THE AMERICAN SWEET POTATO MARKETING INSTITUTE, INC. IS TO (I)USE GENERIC MARKETING PROGRAMS, BOTH FOREIGN AND DOMESTIC, TO PROMOTE THE UNITED STATES SWEET POTATO INDUSTRY; (II) TO PROMOTE RESEARCH ACTIVITIES DESIGNED TO DEVELOP NEW AND BETTER SWEET POTATO VARIETIES, DISEASE AND INSECT CONTROL, SUSTAINABLE AND EFFICIENT HORTICULTURAL PRACTICES, AS WELL AS IDEAS TO REDUCE THE BARRIERS TO TRADE AND IDENTIFYING NEW MARKETS AND METHODS OF TRADE; AND (III) TO PROVIDE MEMBERS WITH USEFUL AND PRACTICAL INFORMATION, TRENDS AND TRADING PRACTICES RELATIVE TO THE OPERATION AND MANAGEMENT OF THE SWEET POTATO INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PARTICIPATES IN THE UNITED STATES DEPARTMENT OF AGRICULTURE'S MARKET ACCESS PROGRAM AS WELL AS THE EMERGING MARKETS PROGRAM TO HELP DEVELOP, MAINTAIN AND EXPAND EXPORT MARKETS FOR UNITED STATES SWEETPOTATOS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John C Barnes President | OfficerTrustee | 1 | $0 |
Michelle Grainger Treasurer | OfficerTrustee | 1 | $0 |
Stephanie Williams Secretary | OfficerTrustee | 1 | $0 |
Gregg Halverson Vice Preside | OfficerTrustee | 1 | $0 |
Jerry Hingle Director | Trustee | 1 | $0 |
Rene' Simon Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $5,500 |
| Fundraising events | $0 |
| Related organizations | $76,409 |
| Government grants | $276,975 |
| 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 | $358,884 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $358,884 |
| 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 | $0 |
| Fees for services: Accounting | $2,223 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $88,329 |
| Advertising and promotion | $300,409 |
| Office expenses | $12 |
| 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 | $2,240 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,298 |
| All other expenses | $0 |
| Total functional expenses | $398,080 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,161 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $166,161 |
| Accounts payable and accrued expenses | $44,979 |
| 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 | $44,979 |
| Net assets without donor restrictions | $121,182 |
| 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 | $166,161 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that American Sweet Potato Marketing Institute Inc has recieved totaling $66,598.
| Awarding Organization | Amount |
|---|---|
Nc Sweet Potato Commission Inc Benson, NC PURPOSE: MARKETING GRANT | $66,598 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Unitehere Union And Employers Health And Welfare Fund Conyers, GA | $0 | $3,903,530 |
Foodservice Packaging Institute Inc Falls Church, VA | $4,132,737 | $3,111,855 |
Bounty & Soul Black Mountain, NC | $759,613 | $2,538,834 |
Wine & Spirits Wholesalers Of Tennessee Nashville, TN | $2,252,502 | $1,835,883 |
North Carolina Beer And Wine Wholesalers Association Raleigh, NC | $1,653,445 | $1,161,857 |
Global Growers Network Inc Decatur, GA | $1,489,134 | $1,442,426 |
Wine And Spirits Wholesalers Of Georgia Inc Atlanta, GA | $836,576 | $1,011,762 |
Public Markets Inc Ooltewah, TN | $875,543 | $1,266,301 |
3-A Sanitary Standards Inc McLean, VA | $2,950,339 | $1,154,736 |
Tri-State Exhibition Center Cleveland, TN | $1,640,606 | $1,262,121 |
Food Security For America Incorporated Smyrna, GA | $231,880 | $615,215 |
Jonesborough Locally Grown Jonesborough, TN | $135,152 | $551,145 |