Agricultural & Applied Economics Association
- Assets
- $8.8m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 03/1968
- Data as of
- 12/2021
- EIN
- 61-0705416
Organization Overview
Agricultural & Applied Economics Association is located in Milwaukee, WI. The organization was established in 1968. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, 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. Agricultural & Applied Economics 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 12/2021, Agricultural & Applied Economics Association generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $1.3m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ASSOCIATION IS A PROFESSIONAL SOCIETY COMMITTED TO FURTHERING KNOWLEDGE ABOUT THE ECONOMICS OF AGRICULTURE, RURAL COMMUNITIES, AND NATURAL RESOURCES.
Describe the Organization's Program Activity:
ANNUAL MEETING: THE ORGANIZATION'S ANNUAL MEETING INCLUDES VARIOUS EDUCATIONALSESSIONS ON TOPICS IN AGRICULTURAL ECONOMICS INCLUDING INVITED PAPER SESSIONS, PREAND POST CONFERENCE WORKSHOPS & POSTER SESSIONS. OTHER EVENTS INCLUDE THE KEYNOTEAND PRESIDENTIAL SPEECHES AS WELL AS AN EMPLOYMENT CENTER.
PUBLICATIONS: THE AMERICAN JOURNAL OF AGRICULTURAL ECONCOMICS (AJAE) IS THE LEADING JOURNAL OF AGRICULTURAL ECONOMICS. AJAE PROVIDES A FORUM FOR CREATIVE & SCHOLARLY WORK ON ECONOMICS OF AGRICULTURE AND FOOD, NATURAL RESOURCES AND THE ENVIRONMENT. ANOTHER JOURNAL PRODUCED BY AAEA, THE APPLIED ECONOMIC PERSPECTIVE & POLICY, AIMS TO PRESENT HIGH-QUALITY RESEARCH IN A FORUM THAT IS INFORMATIVE TO A BROAD AUDIENCE, BOTH INSIDE AND OUTSIDE ACADEMIA.
AAEA TRUST: THE TRUST IS FORMED WITHIN THE ASSOCATION FOR THE PURPOSE OF SOLICITING FUNDS AND BUILDING AN ENDOWMENT TO SUPPORT PROGRAMS BEYOND THOSE THAT CAN BE FUNDED THROUGH THE ASSOCIATION'S OPERATING BUDGET.
OTHER PROGRAM SERVICE ACTIVITY FOR THE ASSOCIATION INCLUDES THE NEWSLETTER, WEBSITE, OUTREACH, SECTION ACTIVITY, AND OTHER MEETINGS AND CONFERENCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dawn Thilmany Mcfadden Past President | OfficerTrustee | 2 | $0 |
Madhu Khanna President | OfficerTrustee | 2 | $0 |
Norbert Wilson President Elect | OfficerTrustee | 2 | $0 |
Timothy Beatty Director | Trustee | 1 | $0 |
Carola Grebitus Director | Trustee | 1 | $0 |
Elena Irwin Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $63,064 |
| All other contributions, gifts, grants, and similar amounts not included above | $133,636 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $196,700 |
| Total Program Service Revenue | $917,222 |
| Investment income | $400,491 |
| 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 | $1,514,413 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,000 |
| Grants and other assistance to domestic individuals. | $30,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $17,200 |
| 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 | $625,832 |
| Fees for services: Legal | $5,051 |
| Fees for services: Accounting | $9,975 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $22,495 |
| Fees for services: Other | $106,533 |
| Advertising and promotion | $0 |
| Office expenses | $43,092 |
| Information technology | $12,685 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $27,675 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $203,143 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,258 |
| All other expenses | $19,867 |
| Total functional expenses | $1,270,517 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $260,907 |
| Savings and temporary cash investments | $28,235 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $85,295 |
| 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 | $7,326 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $8,403,297 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,785,060 |
| Accounts payable and accrued expenses | $195,711 |
| Grants payable | $0 |
| Deferred revenue | $82,811 |
| 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 | $26,905 |
| Total liabilities | $305,427 |
| Net assets without donor restrictions | $8,186,167 |
| Net assets with donor restrictions | $293,466 |
| 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 | $8,785,060 |
Grants Awarded
Over the last fiscal year, Agricultural & Applied Economics Association has awarded $22,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New Brunswick, NJ PURPOSE: ANNUAL SUPPORT | $15,000 |
UNIVERSITY OF MN FOUND PURPOSE: AGECON SEARCH SUPPORT | $7,000 |
Endowment Analysis
| Beg. Balance | $315,896 |
| Earnings | $24,889 |
| Grants | $10,000 |
| Ending Balance | $335,785 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Midwest Oper Engineers Construction Industry Research & Serv Tr Fund Countryside, IL | $12,085,029 | $17,769,884 |
Illinois Soybean Board Bloomington, IL | $24,441,630 | $21,800,549 |
Food Export Association Of The Midwest Usa Chicago, IL | $3,109,779 | $15,548,836 |
Illinois Corn Marketing Board Bloomington, IL | $11,624,886 | $11,889,515 |
Illinois Farm Business Farm Management Association Urbana, IL | $13,036,050 | $15,163,165 |
Michigan Farm Bureau Lansing, MI | $21,991,749 | $13,489,298 |
Michigan Dairymens Market Program Novi, MI | $2,715,772 | $11,716,586 |
Minnesota Corn Growers Association Burnsville, MN | $3,976,064 | $6,629,781 |
National Snaffle Bit Association Inc Gurnee, IL | $5,863,990 | $6,575,627 |
Seed Savers Exchange Inc Decorah, IA | $8,340,832 | $6,859,116 |
Wisconsin Soybean Marketing Board Inc Madison, WI | $9,285,621 | $7,489,309 |
Agricultural Utilization Research Institute Crookston, MN | $5,866,335 | $5,389,230 |