Civic Intelligence

North Carolina Foundation Seed Producers Incorporated

990 • Fiscal year 2018 • EIN 56-0556193

Jun 01, 2017 to May 31, 2018 • Filed on Sep 27, 2018

Organization ProfileNCFOUNDATIONSEEDS.ORG
8220 Riley Hill RoadZebulon, NC 27597

(919) 269-5592

Siviq Scores

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

Liabilities / Assets

49th percentile

0.01x

Higher debt load relative to assets than 49% of similar nonprofits.

2018 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

63rd percentile

0.05x

Higher debt load relative to revenue than 63% of similar nonprofits.

2018 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2018

Net Margin

95th percentile

41%

Higher net margin than 95% of similar nonprofits.

2018 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

33rd percentile

$50,600

Higher top officer pay than 33% of similar nonprofits.

Top officer pay equals 8.4% of source-year revenue.

2018 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2018

Asset Growth

66th percentile

8.8%

Faster asset growth than 66% of similar nonprofits.

2018 filings • 501(c)5 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

97th percentile

58%

Faster revenue growth than 97% of similar nonprofits.

2018 filings • 501(c)5 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$2,268,076

Up $183,791 (+8.8%) from 2017

Net Assets

Up

$2,237,450

Up $178,814 (+8.7%) from 2017

Liabilities

Up

$30,626

Up $4,977 (+19%) from 2017

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin95th percentile

Revenue

Up

$599,290

Up $220,183 (+58%) from 2017

Expenses

Down

$351,609

Down $77,283 (-18%) from 2017

Net Income

Up

$247,681

Up $297,466 (+598%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth66th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $1,730,361Liabilities 2012: $38,834Net Assets 2012: $1,691,5272012Assets 2013: $1,855,860Liabilities 2013: $18,842Net Assets 2013: $1,837,0182013Assets 2014: $2,215,460Liabilities 2014: $288,553Net Assets 2014: $1,926,9072014Assets 2015: $2,085,410Liabilities 2015: $37,235Net Assets 2015: $2,048,1752015Assets 2016: $2,020,448Liabilities 2016: $23,919Net Assets 2016: $1,996,5292016Assets 2017: $2,084,285Liabilities 2017: $25,649Net Assets 2017: $2,058,6362017Assets 2018: $2,268,076Liabilities 2018: $30,626Net Assets 2018: $2,237,4502018Assets 2019: $2,206,649Liabilities 2019: $102,986Net Assets 2019: $2,103,6632019Assets 2020: $2,268,467Liabilities 2020: $21,119Net Assets 2020: $2,247,3482020Assets 2021: $2,628,794Liabilities 2021: $18,126Net Assets 2021: $2,610,6682021Assets 2022: $2,376,099Liabilities 2022: $17,162Net Assets 2022: $2,358,9372022Assets 2023: $2,820,835Liabilities 2023: $444,227Net Assets 2023: $2,376,6082023Assets 2024: $2,705,830Liabilities 2024: $59,761Net Assets 2024: $2,646,0692024Assets 2025: $3,785,100Liabilities 2025: $700,679Net Assets 2025: $3,084,4212025

Highlighted filing

2018

Assets$2,268,076
Liabilities$30,626
Net Assets$2,237,450
Open 2018 Filing

Operations Trend

Revenue Growth97th percentile

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

$1.0M$500K$0-$500KRevenue 2012: $508,182Expenses 2012: $416,384Net Income 2012: $91,7982012Revenue 2013: $349,005Expenses 2013: $300,289Net Income 2013: $48,7162013Revenue 2014: $352,755Expenses 2014: $309,843Net Income 2014: $42,9122014Revenue 2015: $438,456Expenses 2015: $342,758Net Income 2015: $95,6982015Revenue 2016: $333,091Expenses 2016: $310,867Net Income 2016: $22,2242016Revenue 2017: $379,107Expenses 2017: $428,892Net Income 2017: -$49,7852017Revenue 2018: $599,290Expenses 2018: $351,609Net Income 2018: $247,6812018Revenue 2019: $320,365Expenses 2019: $425,519Net Income 2019: -$105,1542019Revenue 2020: $456,445Expenses 2020: $357,193Net Income 2020: $99,2522020Revenue 2021: $580,976Expenses 2021: $379,013Net Income 2021: $201,9632021Revenue 2022: $609,501Expenses 2022: $459,716Net Income 2022: $149,7852022Revenue 2023: $430,455Expenses 2023: $422,184Net Income 2023: $8,2712023Revenue 2024: $439,952Expenses 2024: $355,405Net Income 2024: $84,5472024Revenue 2025: $843,315Expenses 2025: $396,401Net Income 2025: $446,9142025

Highlighted filing

2018

Revenue$599,290
Expenses$351,609
Net Income$247,681
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2017 to May 31, 2018
Signed
Sep 27, 2018
Return Version
2017v2.3
Gross Receipts
$1,814,230
Mission and Program Overview

Mission

To make foundation seed and plant materials of new and improved varieties available to farmers in nc through cooperation with nc ag experiment station, the usda and other public agencies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,055,318$1,132,195▲ $76,877
Savings and Temporary Cash Investments$687,138$451,167▼ $235,971
Accounts Receivable$104,365$254,982▲ $150,617
Land, Buildings, and Equipment, Net$177,347$226,529▲ $49,182
Cash and Non-Interest-Bearing Accounts$26,480$176,489▲ $150,009
Inventories for Sale or Use$4,260$14,214▲ $9,954
Prepaid Expenses and Deferred Charges$29,379$12,500▼ $16,879
Total Assets$2,084,287$2,268,076▲ $183,789
Liabilities
Accounts Payable and Accrued Expenses$25,651$30,626▲ $4,975
Total Liabilities$25,651$30,626▲ $4,975
Net Assets / Fund Balance
Unrestricted Net Assets$2,058,636$2,237,450▲ $178,814
Total Net Assets Fund Balance$2,058,636$2,237,450▲ $178,814
Total Liabilities and Net Assets / Fund Balance$2,084,287$2,268,076▲ $183,789

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$68,122$655,337$723,459
Buildings$107,109$253,530$360,639
Land$51,298-$51,298
Compensation and Service Providers
Top Officer Pay33rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daryl BowmanManagerFT$27,077$23,523$50,600

Board Members and Trustees

NameTitle
Billy BarrowPresident
A O RobertsTrustee
Jimmy D Jones JrTrustee
Ronnie ClarkTrustee
Walt GerardTrustee
Dwight LowderSecretary/tr
David SawyerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$139,156
Investment Income
$147,804
Other Revenue
$312,330
Change in Net Assets
$247,681
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$209,378
Other Expenses$107,231
Grants and Similar Amounts Paid$35,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$129,738$34,487-$164,225
Grants to Domestic Orgs$35,000--$35,000
Pension Plan Contributions$17,125$4,552-$21,677
Depreciation Depletion$12,493$3,321-$15,814
Insurance$15,269--$15,269
Occupancy$12,732$2,301-$15,033
Other Employee Benefits$9,273$2,465-$11,738
Payroll Taxes$9,273$2,465-$11,738
Fees for Services Accounting-$9,000-$9,000
Conferences and Meetings-$5,618-$5,618
Other Expenses$3,151$4,151-$3,151
All Other Expenses$1,585--$1,585
Fees for Service Investment Mgmnt Fees-$454-$454
Total Functional Expenses$282,795$68,814$0$351,609
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nc State UniversityRaleigh, NC-Research$35,000
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The organization's form 990 was examined by daryl bowman and steve brown prior to its filing.”

Form 990, Page 6, Part VI, Line 15B

“Staff is paid through the north carolina state university payroll system. The organization has no direct employees of its own, but reimburses the university for all costs of the staff. The board of trustees made a decision concerning the appropriate pay grade for all members of its staff based on their years of service and job description using guidelines from ncsu.”

Form 990, Page 6, Part VI, Line 19

“All governing documents are available to the public upon request by mail or electronic submission.”

Filing and Contact Details

Filer

Filer Name
North Carolina Foundation Seed
EIN
56-0556193
Phone
9192695592
Address
8220 RILEY HILL ROAD, ZEBULON, NC 27597

Signing Officer

Name
Daryl Bowman
Title
Manager
Phone
9192695592
Signed
2018-09-27

Organization Details

Principal Officer
Daryl Bowman
Formed
1945
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Plc Rouse Norton Pllc
Address
7701 SIX FORKS RD STE 100, RALEIGH, NC 27615
Preparer
John H Collar Iii
Phone
9198411000
Raw XML Appendix358 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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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0253530
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0360639
IRS990ScheduleD/EquipmentGrp/BookValueAmt068122
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0655337
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0723459
IRS990ScheduleD/LandGrp/BookValueAmt051298
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt051298
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0226529
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt035000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0RESEARCH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0NC STATE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientEIN0566000756
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0NCSU
IRS990ScheduleI/RecipientTable/USAddress/CityNm0RALEIGH
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd027695
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S FORM 990 WAS EXAMINED BY DARYL BOWMAN AND STEVE BROWN PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1STAFF IS PAID THROUGH THE NORTH CAROLINA STATE UNIVERSITY PAYROLL SYSTEM. THE ORGANIZATION HAS NO DIRECT EMPLOYEES OF ITS OWN, BUT REIMBURSES THE UNIVERSITY FOR ALL COSTS OF THE STAFF. THE BOARD OF TRUSTEES MADE A DECISION CONCERNING THE APPROPRIATE PAY GRADE FOR ALL MEMBERS OF ITS STAFF BASED ON THEIR YEARS OF SERVICE AND JOB DESCRIPTION USING GUIDELINES FROM NCSU.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST BY MAIL OR ELECTRONIC SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02084287
IRS990/TotalAssetsEOYAmt02268076
IRS990/TotalAssetsGrp/BOYAmt02084287
IRS990/TotalAssetsGrp/EOYAmt02268076
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt068814
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0282795
IRS990/TotalFunctionalExpensesGrp/TotalAmt0351609
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt025651
IRS990/TotalLiabilitiesEOYAmt030626
IRS990/TotalLiabilitiesGrp/BOYAmt025651
IRS990/TotalLiabilitiesGrp/EOYAmt030626
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02058636
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02237450
IRS990/TotalProgramServiceExpensesAmt0282795
IRS990/TotalProgramServiceRevenueAmt0139156
IRS990/TotalReportableCompFromOrgAmt027077
IRS990/TotalRevenueGrp/ExclusionAmt048929
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0550361
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0599290
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02084287
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02268076
IRS990/TotReportableCompRltdOrgAmt023523
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02058636
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02237450
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08220 RILEY HILL ROAD
IRS990/USAddress/CityNm0ZEBULON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027597
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DARYL BOWMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum09192695592
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0NORTH CAROLINA FOUNDATION SEED
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0PRODUCERS INCORPORATED
ReturnHeader/Filer/BusinessNameControlTxt0NORT
ReturnHeader/Filer/EIN0560556193
ReturnHeader/Filer/PhoneNum09192695592
ReturnHeader/Filer/USAddress/AddressLine1Txt08220 RILEY HILL ROAD
ReturnHeader/Filer/USAddress/CityNm0ZEBULON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027597
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0A66A562F0CE3FD25E028208DFA2550D4D67B33B4
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A66A562F0CE3FD25E028208DFA2550D4D67B33B4
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02018-10-01
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm006:07:02
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0562034483
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PLC ROUSE NORTON PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt07701 SIX FORKS RD STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RALEIGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027615
ReturnHeader/PreparerPersonGrp/PhoneNum09198411000
ReturnHeader/PreparerPersonGrp/PreparationDt02018-09-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOHN H COLLAR III
ReturnHeader/ReturnTs02018-10-01T07:07:02-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-06-01
ReturnHeader/TaxPeriodEndDt02018-05-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,268,076
Liabilities
$30,626
Net assets
$2,237,450
Revenue
$599,290
Expenses
$351,609
Net income
$247,681
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.79$0.70$3.08$0.84$0.40$0.45
2024Detailed filing. Detailed filing data is available for this year.$2.71$0.06$2.65$0.44$0.36$0.08
2023Detailed filing. Detailed filing data is available for this year.$2.82$0.44$2.38$0.43$0.42$0.01
2022Detailed filing. Detailed filing data is available for this year.$2.38$0.02$2.36$0.61$0.46$0.15
2021Detailed filing. Detailed filing data is available for this year.$2.63$0.02$2.61$0.58$0.38$0.20
2020Detailed filing. Detailed filing data is available for this year.$2.27$0.02$2.25$0.46$0.36$0.10
2019Detailed filing. Detailed filing data is available for this year.$2.21$0.10$2.10$0.32$0.43$0.11
2018Detailed filing. Detailed filing data is available for this year.$2.27$0.03$2.24$0.60$0.35$0.25
2017Detailed filing. Detailed filing data is available for this year.$2.08$0.03$2.06$0.38$0.43$0.05
2016Detailed filing. Detailed filing data is available for this year.$2.02$0.02$2.00$0.33$0.31$0.02
2015Detailed filing. Detailed filing data is available for this year.$2.09$0.04$2.05$0.44$0.34$0.10
2014Detailed filing. Detailed filing data is available for this year.$2.22$0.29$1.93$0.35$0.31$0.04
2013Summary only. Only limited summary data is available for this year.$1.86$0.02$1.84$0.35$0.30$0.05
2012Summary only. Only limited summary data is available for this year.$1.73$0.04$1.69$0.51$0.42$0.09