Nc Sweet Potato Commission Inc
- Assets
- $4.1m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Benson, NC
- Founding
- 09/1963
- Data as of
- 06/2022
- EIN
- 56-0769208
Organization Overview
Nc Sweet Potato Commission Inc is located in Benson, NC. The organization was established in 1963. 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 06/2022, NC Sweet Potato Commission Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. NC Sweet Potato Commission 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 06/2022, NC Sweet Potato Commission Inc generated $3.6m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $1.6m during the year ending 06/2022. While expenses have increased by 1.9% per year over the past 6 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE PRODUCTION AND CONSUMPTION OF NORTH CAROLINA SWEET POTATOES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION & PROMOTION OF CONSUMPTION OF SWEETPOTATOES, DIRECTED TO THE GENERAL PUBLIC, RETAILERS, AND PROCESSORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michelle Grainger Executive Di | OfficerTrustee | 40 | $129,062 |
Sarah Carraway Director | Trustee | 1 | $0 |
Clay Gardner Director | Trustee | 1 | $0 |
Rob Hill Vice Preside | Trustee | 1 | $0 |
Frank Howell Director | Trustee | 1 | $0 |
Jim Jones Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,000,000 |
| 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 | $2,000,000 |
| Total Program Service Revenue | $1,630,802 |
| Investment income | $765 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,892 |
| 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 | $3,634,489 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $230,413 |
| 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. | $135,180 |
| Compensation of current officers, directors, key employees. | $135,180 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $106,124 |
| Pension plan accruals and contributions | $9,267 |
| Other employee benefits | $8,996 |
| Payroll taxes | $17,657 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,076 |
| Fees for services: Accounting | $16,190 |
| Fees for services: Lobbying | $90,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,200 |
| Advertising and promotion | $667,868 |
| Office expenses | $27,890 |
| Information technology | $22,685 |
| Royalties | $0 |
| Occupancy | $25,923 |
| Travel | $6,946 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $78,282 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,081 |
| Insurance | $12,793 |
| All other expenses | $39,474 |
| Total functional expenses | $1,614,625 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $128,235 |
| Savings and temporary cash investments | $3,757,473 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $219,193 |
| 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 | $10,659 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,500 |
| Total assets | $4,117,060 |
| Accounts payable and accrued expenses | $24,351 |
| 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 | $20,151 |
| Total liabilities | $44,502 |
| Net assets without donor restrictions | $4,022,558 |
| Net assets with donor restrictions | $50,000 |
| 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 | $4,117,060 |
Grants Awarded
Over the last fiscal year, Nc Sweet Potato Commission Inc has awarded $230,413 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN SWEETPOTATO MARKETING INST PURPOSE: MARKETING GRANT | $66,598 |
NC AGRICULTURAL FOUNDATION INC | | | $163,815 |