Pennsylvania Soybean Board

“Form 990 is presented at a board meeting for directors to review prior to filing, at which time it is also presented to the treasurer for review and signature. A copy is retained with the organization's books and records for review at any time upon request.”

“During each august board meeting, each director signs a new conflict of interest policy sheet. If a vote is required where conflict of interest occurs, the director(s) recuse themselves from the vote. This is noted in the meetings of the minutes. If a new conflict of interest arises during the year, the director informs the board and signs a new conflict of interest statement.”

“Governing documents, conflict of interest statements and financial statements are made available upon request. Annual fiscal year financial statement is provided as a part of the organization's annual report which is mailed to the organization's farmer mailing list and is available at various meetings and events.”

“The pennsylvania soybean board is committed to advancing soybeans in the commonwealth and investing soybean checkoff dollars in programs and initiatives that fund research, outreach and education, promotion, and alternative uses.”

“This 990 reports the activities of both pennsylvania soybean board (fein 52-1743978) and eastern region soybean board (fein 45-2407946).”

“2,121,614 the pennsylvania soybean board and the eastern region soybean board were unincorporated nonprofit associations since inception. On may 31, 2015 each organization was formally incorporated. Therefore, this "final" 990 reports the activities of the unincorporated nonprofit associations through may 31, 2015, at which time total net assets of 2,121,614 were transferred by operation of law in accordance with the pennsylvania nonprofit corporation law to the new corporations, pennsylvania soybean board and eastern region soybean board, as follows: net assets of 1,691,486 transferred to "pennsylvania soybean board", and reported under ein 38-3972783, having received its approval for tax-exempt status under irc section 501(c)(5), dated october 28, 2015 and effective may 31, 2015. Net assets of 430,128 transferred to "eastern region soybean board", and reported under ein 32-0467849, having received its approval for tax-exempt status under irc section 501(c)(5), dated november 4, 2015 and effective may 31, 2015. See schedule n for further detail.”