Florida Foundation Seed Producers Inc
- Assets
- $23.1m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 10
- Location
- Greenwood, FL
- Founding
- 09/2017
- Data as of
- 06/2021
- EIN
- 59-0931036
Organization Overview
Florida Foundation Seed Producers Inc is located in Greenwood, FL. The organization was established in 2017. According to its NTEE Classification (K05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2021, Florida Foundation Seed Producers Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Foundation Seed Producers Inc 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 06/2021, Florida Foundation Seed Producers Inc generated $2.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $914.0k during the year ending 06/2021. While expenses have increased by 7.0% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENSURE FOUNDATION SEED AND NURSERY STOCKS OF THE BEST-KNOWN VARIETIES ADAPTABLE TO THE FLORIDA CLIMATE AND SOILS ARE AVAILABLE ANNUALLY TO FLORIDA FARMERS AND PRODUCERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION ACTS AS AN AGENT FOR THE FLORIDA AGRICULTURAL EXPERIMENT STATION (FAES) AND COLLECTS ROYALTIES ON RELEASED AND LICENSED CULTIVARS. IN THE CAPACITY OF BEING AN AGENT, THE ORGANIZATION PROVIDES OFFICE SPACE AND PERSONNEL TO HANDLE THE PLANT VARIETY PROTECTION, TRADEMARK, PLANT PATENT BREEDERS RIGHTS APPLICATIONS. THE ORGANIZATION FACILITATES THE LICENSING AND MARKETING OF FAES RELEASED CULTIVARS AND IS RESPONSIBLE FOR THE NEGOTIATION, EXECUTION, AND MANAGEMENT OF CONTRACTS.
THE ORGANIZATION WORKS WITH THE INSTITUTE OF FOOD AND AGRICULTURAL SCIENCES OF THE UNIVERSITY OF FLORIDA FOR THE PURPOSES OF INCREASING FOUNDATION SEED FROM THE POINT AT WHICH A VARIETY IS DEVELOPED BY A TRAINED PLANT BREEDER TO THE STATE WHERE AMPLE STOCKS ARE MADE AVAILABLE TO QUALIFIED SEED PRODUCERS. THE ORGANIZATION OWNS 500 ACRES OF LAND NEAR MARIANA, FLORIDA. THE ORGANIZATION OWNS FARMING EQUIPMENT, PROCESSING EQUIPMENT AND STORAGE FACILITIES THAT IT USES TO GROW, HARVEST AND PROCESS FOUNDATION SEED PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Beuttenmuller Edsectreasurer | Officer | 40 | $6,781 |
Bill Bullard Vice President | OfficerTrustee | 1 | $0 |
Jared Forrester President | OfficerTrustee | 1 | $0 |
Jim Miller Board Member | Trustee | 1 | $0 |
Nick Place Board Member | Trustee | 1 | $0 |
Kevin Morgan Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mw Construction Co Construction | 6/29/21 | $157,886 |
Dd Irrigation Services Construction | 6/29/21 | $160,995 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,675 |
| 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 | $1,675 |
| Total Program Service Revenue | $1,728,144 |
| Investment income | $30,294 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,430 |
| 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 | $198,278 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,978,821 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $350,000 |
| 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. | $225,296 |
| Compensation of current officers, directors, key employees. | $61,531 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $138,256 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $44,675 |
| Payroll taxes | $23,730 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,851 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,406 |
| Office expenses | $54,922 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,304 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,622 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,911 |
| Insurance | $2,457 |
| All other expenses | $24,521 |
| Total functional expenses | $913,951 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $338,023 |
| Savings and temporary cash investments | $12,751,545 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,392,022 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $98,552 |
| Prepaid expenses and deferred charges | $138,281 |
| Net Land, buildings, and equipment | $5,369,650 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,088,073 |
| Accounts payable and accrued expenses | $293,043 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $9,444,352 |
| 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 | $9,737,395 |
| Net assets without donor restrictions | $13,350,678 |
| 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 | $23,088,073 |
Grants Awarded
Over the last fiscal year, Florida Foundation Seed Producers Inc has awarded $175,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Gainesville, FL PURPOSE: ENDOWMENT | $150,000 |
Gainesville, FL PURPOSE: RESEARCH SUPPORT | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Second Harvest Food Bank Of Northwest North Carolina Inc Winston Salem, NC | $40,643,437 | $84,978,237 |
Harry Chapin Food Bank Of Southwest Florida Inc Fort Myers, FL | $18,984,234 | $69,611,824 |
Mississippi Food Network Inc Jackson, MS | $23,144,263 | $77,392,396 |
Montgomery Area Food Bank Inc Montgomery, AL | $21,621,044 | $72,895,777 |
Regional Food Bank Of Northeast Florida Inc Jacksonville, FL | $13,173,202 | $61,079,810 |
Feeding The Gulf Coast Theodore, AL | $30,651,678 | $51,935,641 |
Harvest Hope Food Bank Columbia, SC | $18,459,507 | $52,907,942 |
Little Havana Activities And Nutrition Centers Of Dade County I Miami, FL | $44,023,301 | $48,259,693 |
Second Harvest Food Bank Of East Tennessee Maryville, TN | $28,785,775 | $40,115,958 |
Treasure Coast Food Bank Incorporated Fort Pierce, FL | $14,946,349 | $36,277,666 |
All Faiths Food Bank Inc Sarasota, FL | $32,200,076 | $40,886,490 |
Chattanooga Area Food Bank Inc Chattanooga, TN | $13,005,178 | $40,483,306 |