Civic Intelligence

North Carolina Foundation Seed Producers Incorporated

990 • Fiscal year 2021 • EIN 56-0556193

Jun 01, 2020 to May 31, 2021 • Filed on Sep 09, 2021

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

46th percentile

0.01x

Higher debt load relative to assets than 46% of similar nonprofits.

2021 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

55th percentile

0.03x

Higher debt load relative to revenue than 55% of similar nonprofits.

2021 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2021

Net Margin

89th percentile

35%

Higher net margin than 89% of similar nonprofits.

2021 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

38th percentile

$54,154

Higher top officer pay than 38% of similar nonprofits.

Top officer pay equals 9.3% of source-year revenue.

2021 filings • 501(c)5 • $1M-$5M nonprofits • Source year 2021

Asset Growth

72nd percentile

16%

Faster asset growth than 72% of similar nonprofits.

2021 filings • 501(c)5 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

86th percentile

27%

Faster revenue growth than 86% of similar nonprofits.

2021 filings • 501(c)5 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$2,628,794

Up $360,327 (+16%) from 2020

Net Assets

Up

$2,610,668

Up $363,320 (+16%) from 2020

Liabilities

Down

$18,126

Down $2,993 (-14%) from 2020

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin89th percentile

Revenue

Up

$580,976

Up $124,531 (+27%) from 2020

Expenses

Up

$379,013

Up $21,820 (+6.1%) from 2020

Net Income

Up

$201,963

Up $102,711 (+103%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth72nd 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

2021

Assets$2,628,794
Liabilities$18,126
Net Assets$2,610,668
Open 2021 Filing

Operations Trend

Revenue Growth86th 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

2021

Revenue$580,976
Expenses$379,013
Net Income$201,963
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2020 to May 31, 2021
Signed
Sep 9, 2021
Return Version
2020v4.0
Gross Receipts
$2,031,737
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$1,237,901$1,347,895▲ $109,994
Cash and Non-Interest-Bearing Accounts$595,226$437,916▼ $157,310
Accounts Receivable$177,045$399,693▲ $222,648
Land, Buildings, and Equipment, Net$206,715$355,564▲ $148,849
Savings and Temporary Cash Investments$27,510$51,192▲ $23,682
Inventories for Sale or Use$15,070$21,814▲ $6,744
Prepaid Expenses and Deferred Charges$9,000$14,720▲ $5,720
Total Assets$2,268,467$2,628,794▲ $360,327
Liabilities
Accounts Payable and Accrued Expenses$21,119$18,126▼ $2,993
Total Liabilities$21,119$18,126▼ $2,993
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,247,348$2,610,668▲ $363,320
Total Net Assets Fund Balance$2,247,348$2,610,668▲ $363,320
Total Liabilities and Net Assets / Fund Balance$2,268,467$2,628,794▲ $360,327

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$229,761$556,365$786,126
Buildings$74,505$286,134$360,639
Land$51,298-$51,298
Compensation and Service Providers
Top Officer Pay38th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Daryl BowmanManagerPT$27,077$27,077$54,154

Board Members and Trustees

NameTitle
Billy BarrowPresident
Ao RobertsTrustee
Jim JonesTrustee
Peyton McdanielTrustee
Walt GerardTrustee
Dwight LowderSecretary/tr
Ronnie ClarkVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$125,846
Investment Income
$228,032
Other Revenue
$227,098
Change in Net Assets
$201,963
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$194,264
Other Expenses$121,952
Grants and Similar Amounts Paid$62,797
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$106,959$13,289-$120,248
Grants to Domestic Orgs$62,797--$62,797
Depreciation Depletion$33,390--$33,390
Current Officers, Directors, Trustees, and Key Employees$13,538$13,538-$27,076
Pension Plan Contributions$19,394$4,318-$23,712
Occupancy$17,688$2,552-$20,240
Insurance$19,551--$19,551
Other Employee Benefits$10,489$2,335-$12,824
Payroll Taxes$8,509$1,895-$10,404
Fees for Services Accounting-$9,395-$9,395
All Other Expenses$949--$949
Other Expenses$14,117$704-$704
Fees for Service Investment Mgmnt Fees-$364-$364
Total Functional Expenses$328,339$50,674$0$379,013
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Nc State UniversityRaleigh, NC-Research$62,797
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 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
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 is examined by manager and bookkeeper 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 desription 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
2021-09-09

Organization Details

Principal Officer
Daryl Bowman
Formed
1945
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
0

Preparer

Firm
Norton Collar Lund Lilley Pllc
Address
7701 SIX FORKS RD STE 100, RALEIGH, NC 27615
Preparer
Jon a Lund
Phone
9198411000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Realized gain book-tax difference 928”

Raw XML Appendix364 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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IRS990/PYRevenuesLessExpensesAmt099252
IRS990/PYSalariesCompEmpBnftPaidAmt0216034
IRS990/PYTotalExpensesAmt0357193
IRS990/PYTotalRevenueAmt0456445
IRS990/ReconcilationRevenueExpnssAmt0201963
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IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt027510
IRS990/SavingsAndTempCashInvstGrp/EOYAmt051192
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IRS990ScheduleD/BuildingsGrp/BookValueAmt074505
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0286134
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0360639
IRS990ScheduleD/EquipmentGrp/BookValueAmt0229761
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0556365
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0786126
IRS990ScheduleD/LandGrp/BookValueAmt051298
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt051298
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0355564
IRS990ScheduleI/GrantRecordsMaintainedInd0false
IRS990ScheduleI/RecipientTable/CashGrantAmt062797
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0RESEARCH
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0NC STATE UNIVERSITY
IRS990ScheduleI/RecipientTable/RecipientEIN0566000756
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0NCSU
IRS990ScheduleI/RecipientTable/USAddress/CityNm0RALEIGH
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S FORM 990 IS EXAMINED BY MANAGER AND BOOKKEEPER 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 DESRIPTION USING GUIDELINES FROM NCSU.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ALL GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST BY MAIL OR ELECTRONIC SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3REALIZED GAIN BOOK-TAX DIFFERENCE 928
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02268467
IRS990/TotalAssetsEOYAmt02628794
IRS990/TotalAssetsGrp/BOYAmt02268467
IRS990/TotalAssetsGrp/EOYAmt02628794
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt050674
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0328339
IRS990/TotalFunctionalExpensesGrp/TotalAmt0379013
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt021119
IRS990/TotalLiabilitiesEOYAmt018126
IRS990/TotalLiabilitiesGrp/BOYAmt021119
IRS990/TotalLiabilitiesGrp/EOYAmt018126
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02247348
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02610668
IRS990/TotalProgramServiceExpensesAmt0328339
IRS990/TotalProgramServiceRevenueAmt0125846
IRS990/TotalReportableCompFromOrgAmt027077
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0580976
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0580976
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02628794
IRS990/TotReportableCompRltdOrgAmt027077
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08220 RILEY HILL ROAD
IRS990/USAddress/CityNm0ZEBULON
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027597
IRS990/VotingMembersGoverningBodyCnt06
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0HTTP://NCFOUNDATIONSEEDS.ORG/
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DARYL BOWMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0MANAGER
ReturnHeader/BusinessOfficerGrp/PhoneNum09192695592
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-09
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/PreparerFirmGrp/PreparerFirmEIN0562034483
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0NORTON COLLAR LUND LILLEY 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/PreparationDt02021-09-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JON A LUND
ReturnHeader/ReturnTs02021-09-13T09:36:20-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DARYL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BOWMAN
ReturnHeader/TaxPeriodBeginDt02020-06-01
ReturnHeader/TaxPeriodEndDt02021-05-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,628,794
Liabilities
$18,126
Net assets
$2,610,668
Revenue
$580,976
Expenses
$379,013
Net income
$201,963
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