Civic Intelligence

Agriculture Scholarship Centre for Basis Trading Education Inc.

990 • Fiscal year 2023 • EIN 30-0759665

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 02, 2024

Organization ProfileWWW.ASCAPPLY.ORG
2336 SE Ocean Blvd 217Stuart, FL 34996-3310

(772) 485-4042

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

64th percentile

0.19x

Higher debt load relative to revenue than 64% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

3rd percentile

-135%

Higher net margin than 3% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

56th percentile

$75,000

Higher top officer pay than 56% of similar nonprofits.

Top officer pay equals 47.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

16th percentile

-7.4%

Faster asset growth than 16% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

457%

Faster revenue growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$3,273,944

Down $261,607 (-7.4%) from 2022

Net Assets

Down

$3,243,276

Down $212,909 (-6.2%) from 2022

Liabilities

Down

$30,668

Down $48,698 (-61%) from 2022

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin3rd percentile

Revenue

Up

$157,910

Up $129,536 (+457%) from 2022

Expenses

Up

$370,819

Up $4,162 (+1.1%) from 2022

Net Income

Up

-$212,909

Up $125,374 (+37%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$6.0M$4.0M$2.0M$0Assets 2019: $4,363,968Liabilities 2019: $49,640Net Assets 2019: $4,314,3282019Assets 2020: $4,126,562Liabilities 2020: $56,023Net Assets 2020: $4,070,5392020Assets 2021: $3,847,326Liabilities 2021: $52,858Net Assets 2021: $3,794,4682021Assets 2022: $3,535,551Liabilities 2022: $79,366Net Assets 2022: $3,456,1852022Assets 2023: $3,273,944Liabilities 2023: $30,668Net Assets 2023: $3,243,2762023Assets 2024: $2,986,978Liabilities 2024: $20,254Net Assets 2024: $2,966,7242024

Highlighted filing

2023

Assets$3,273,944
Liabilities$30,668
Net Assets$3,243,276
Open 2023 Filing

Operations Trend

Revenue Growth98th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200K-$400KRevenue 2019: $91,669Expenses 2019: $296,555Net Income 2019: -$204,8862019Revenue 2020: $46,059Expenses 2020: $289,848Net Income 2020: -$243,7892020Revenue 2021: $5,429Expenses 2021: $272,550Net Income 2021: -$267,1212021Revenue 2022: $28,374Expenses 2022: $366,657Net Income 2022: -$338,2832022Revenue 2023: $157,910Expenses 2023: $370,819Net Income 2023: -$212,9092023Revenue 2024: $158,433Expenses 2024: $434,985Net Income 2024: -$276,5522024

Highlighted filing

2023

Revenue$157,910
Expenses$370,819
Net Income-$212,909
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 2, 2024
Return Version
2023v5.0
Gross Receipts
$157,910
Mission and Program Overview

Mission

The mission of ASC is to instruct and train the public about agriculture finance and economics, including the use of grain futures and basis trading.

To instruct and train the public about agriculture finance and economics.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,186,818$2,960,120▼ $226,698
Savings and Temporary Cash Investments$131,463$259,821▲ $128,358
Cash and Non-Interest-Bearing Accounts$190,270$31,253▼ $159,017
Pledges and Grants Receivable$27,000$22,750▼ $4,250
Total Assets$3,535,551$3,273,944▼ $261,607
Liabilities
Grants Payable-$17,500-
Accounts Payable and Accrued Expenses$79,366$13,168▼ $66,198
Total Liabilities$79,366$30,668▼ $48,698
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,429,185$3,220,526▼ $208,659
Net Assets With Donor Restrictions$27,000$22,750▼ $4,250
Total Net Assets Fund Balance$3,456,185$3,243,276▼ $212,909
Total Liabilities and Net Assets / Fund Balance$3,535,551$3,273,944▼ $261,607
Compensation and Service Providers
Top Officer Pay56th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Janice FennimanExecutive DirectorPT$75,000$75,000

Board Members and Trustees

NameTitle
John J WernerPresident/director/chair
Darrell FredericksonDirector
Peter G RufenachtDirector
Phil LuceDirector
Ron MillerDirector
Sherry LortonSec/treas/director
Revenue and Support

Revenue Composition

Contributions and Grants
$6,250
Program Service Revenue
$0
Investment Income
$151,660
Other Revenue
$0
All Other Contributions
$6,250
Change in Net Assets
$-212,909
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$177,623
Grants and Similar Amounts Paid$155,746
Other Expenses$37,450
Total Fundraising Expense$11,973
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$155,746--$155,746
Other Salaries and Wages$90,000--$90,000
Current Officers, Directors, Trustees, and Key Employees$46,781$20,375$7,844$75,000
Payroll Taxes$10,464$1,559$600$12,623
Travel$11,619--$11,619
Fees for Services Accounting$3,750$1,875$1,875$7,500
Insurance$5,258$1,721-$6,979
Office Expenses$1,216$3,602$1,654$6,472
Conferences and Meetings$3,976--$3,976
Advertising$37$564-$601
Information Technology$75$228-$303
Total Functional Expenses$328,922$29,924$11,973$370,819
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

“The executive committee shall possess and may exercise all the powers of the board of directors while the board is not in session except authority: (i) which has been delegated to another committee in accordance with these bylaws:(ii) to remove or elect any director, ratify the removal or election of any director or to elect or remove any member of the executive committee or any principal officer; (iii) to change the number or members of the executive committee; (iv) to amend or to suspend the bylaws; (v) to alter or amend the articles of incorporation; or (vi) to take any action which the board of directors may specifically reserve to itself or as may be reserved in the articles of incorporation.”

Form 990, Part VI, Section B, Line 11B

“A copy of the 990 is provided to the board of directors prior to filing the return.”

Form 990, Part VI, Section B, Line 12C

“Each director, principal officer and member of a committee with board of directors delegated powers shall annually sign a statement which affirms they have received a copy of the policy, read and understands the policy, agrees to comply with the policy, and understands asc is charitable and it must engage primarily in activities which accomplish its tax-exempt purpose.”

Form 990, Part VI, Section B, Line 15A

“The board of directors will obtain research and information to make a recommendation to the full board for the compensation of the exectuive director and other hightly compensated employees based on a review of camparable data.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Agriculture Scholarship Centre for Basis
EIN
30-0759665
Phone
7724854042
Address
2336 SE OCEAN BLVD 217, STUART, FL 34996-3310

Signing Officer

Name
John J Werner
Title
Chair
Phone
7724854042
Signed
2024-04-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John J Werner
Formed
2012
Legal Domicile
Fl
Voting Board Members
6
Independent Board Members
6
Employees
2
Volunteers
9

Preparer

Firm
James Moore & Co Pl
Address
5931 NW 1ST PL, GAINESVILLE, FL 32607-2063
Preparer
Corinne Laroche
Phone
3523781331
Raw XML Appendix389 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt07244
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt050628
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt046059
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt090755
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0328527
IRS990/ScheduleBRequiredInd00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0125569
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt130177
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0COLLEGE SCHOLARSHIPS - TUITION
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1MERCHANDISING SKILL BUILDING PROGRAM
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt035
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt116
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0COLLEGE SCHOLARSHIPS GIVEN ARE PAID DIRECTLY TO THE UNIVERSITY OR INSTITUTION OF CHOICE. THE RECIPIENTS DO NOT PHYSICALLY RECEIVE ANY FUNDS. THE MERCHANDISING SKILL BUILDING PROGRAM SCHOLARSHIPS ARE PAID BY THE ORGANIZATION FOR LODGING AND TRAVEL EXPENSES RELATING TO THE PROGRAM, AND ARE NOT DIRECTLY PAID TO THE RECIPIENTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE COMMITTEE SHALL POSSESS AND MAY EXERCISE ALL THE POWERS OF THE BOARD OF DIRECTORS WHILE THE BOARD IS NOT IN SESSION EXCEPT AUTHORITY: (I) WHICH HAS BEEN DELEGATED TO ANOTHER COMMITTEE IN ACCORDANCE WITH THESE BYLAWS:(II) TO REMOVE OR ELECT ANY DIRECTOR, RATIFY THE REMOVAL OR ELECTION OF ANY DIRECTOR OR TO ELECT OR REMOVE ANY MEMBER OF THE EXECUTIVE COMMITTEE OR ANY PRINCIPAL OFFICER; (III) TO CHANGE THE NUMBER OR MEMBERS OF THE EXECUTIVE COMMITTEE; (IV) TO AMEND OR TO SUSPEND THE BYLAWS; (V) TO ALTER OR AMEND THE ARTICLES OF INCORPORATION; OR (VI) TO TAKE ANY ACTION WHICH THE BOARD OF DIRECTORS MAY SPECIFICALLY RESERVE TO ITSELF OR AS MAY BE RESERVED IN THE ARTICLES OF INCORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE 990 IS PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH DIRECTOR, PRINCIPAL OFFICER AND MEMBER OF A COMMITTEE WITH BOARD OF DIRECTORS DELEGATED POWERS SHALL ANNUALLY SIGN A STATEMENT WHICH AFFIRMS THEY HAVE RECEIVED A COPY OF THE POLICY, READ AND UNDERSTANDS THE POLICY, AGREES TO COMPLY WITH THE POLICY, AND UNDERSTANDS ASC IS CHARITABLE AND IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ITS TAX-EXEMPT PURPOSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS WILL OBTAIN RESEARCH AND INFORMATION TO MAKE A RECOMMENDATION TO THE FULL BOARD FOR THE COMPENSATION OF THE EXECTUIVE DIRECTOR AND OTHER HIGHTLY COMPENSATED EMPLOYEES BASED ON A REVIEW OF CAMPARABLE DATA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/StatesWhereCopyOfReturnIsFldCd1AR
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt03535551
IRS990/TotalAssetsGrp/EOYAmt03273944
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt06250
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt011973
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt029924
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0328922
IRS990/TotalFunctionalExpensesGrp/TotalAmt0370819
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt030668
IRS990/TotalLiabilitiesGrp/BOYAmt079366
IRS990/TotalLiabilitiesGrp/EOYAmt030668
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IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0328922
IRS990/TotalReportableCompFromOrgAmt075000
IRS990/TotalRevenueGrp/ExclusionAmt0151660
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0157910
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
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IRS990/TotReportableCompRltdOrgAmt00
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IRS990/TravelGrp/TotalAmt011619
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/WhistleblowerPolicyInd01
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JOHN J WERNER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum07724854042
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0AGRICULTURE SCHOLARSHIP CENTRE FOR BASIS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0TRADING EDUCATION INC
ReturnHeader/Filer/BusinessNameControlTxt0AGRI
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ReturnHeader/Filer/PhoneNum07724854042
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0593204548
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JAMES MOORE & CO PL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05931 NW 1ST PL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GAINESVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0326072063
ReturnHeader/PreparerPersonGrp/PhoneNum03523781331
ReturnHeader/PreparerPersonGrp/PreparationDt02024-04-02
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CORINNE LAROCHE
ReturnHeader/ReturnTs02024-04-03T14:05:28-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOHN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0WERNER
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,273,944
Liabilities
$30,668
Net assets
$3,243,276
Revenue
$157,910
Expenses
$370,819
Net income
-$212,909
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.99$0.02$2.97$0.16$0.43$0.28
2023Detailed filing. Detailed filing data is available for this year.$3.27$0.03$3.24$0.16$0.37$0.21
2022Detailed filing. Detailed filing data is available for this year.$3.54$0.08$3.46$0.03$0.37$0.34
2021Detailed filing. Detailed filing data is available for this year.$3.85$0.05$3.79$0.01$0.27$0.27
2020Detailed filing. Detailed filing data is available for this year.$4.13$0.06$4.07$0.05$0.29$0.24
2019Detailed filing. Detailed filing data is available for this year.$4.36$0.05$4.31$0.09$0.30$0.20