Civic Intelligence

Kentucky Soybean Promotion Board In

990 • Fiscal year 2024 • EIN 61-1400681

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 15, 2024

Organization ProfileWWW.KYSOY.ORG

View Organization Page

1001 Highway 62 WPrinceton, KY 42445

(270) 365-7214

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)5 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2024 filings • 501(c)5 • $5M-$10M nonprofits • Source year 2024

Net Margin

76th percentile

22%

Higher net margin than 76% of similar nonprofits.

2024 filings • 501(c)5 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

29th percentile

$142,800

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2024 filings • 501(c)5 • $5M-$10M nonprofits • Source year 2024

Asset Growth

55th percentile

9.3%

Faster asset growth than 55% of similar nonprofits.

2024 filings • 501(c)5 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

12th percentile

-3.6%

Faster revenue growth than 12% of similar nonprofits.

2024 filings • 501(c)5 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets15th percentile

Assets

Up

$8,990,460

Up $761,780 (+9.3%) from 2023

Net Assets

Up

$8,990,460

Up $761,780 (+9.3%) from 2023

Liabilities

Flat

$0

Flat from 2023

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin76th percentile

Revenue

Down

$3,470,709

Down $128,199 (-3.6%) from 2023

Expenses

Up

$2,718,021

Up $480,524 (+21%) from 2023

Net Income

Down

$752,688

Down $608,723 (-45%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$10M$5.0M$0Assets 2012: $2,603,230Liabilities 2012: $0Net Assets 2012: $2,603,2302012Assets 2013: $3,371,356Liabilities 2013: $0Net Assets 2013: $3,371,3562013Assets 2014: $4,298,059Liabilities 2014: $0Net Assets 2014: $4,298,0592014Assets 2015: $4,282,158Liabilities 2015: $0Net Assets 2015: $4,282,1582015Assets 2016: $4,323,560Liabilities 2016: $0Net Assets 2016: $4,323,5602016Assets 2017: $4,862,710Liabilities 2017: $0Net Assets 2017: $4,862,7102017Assets 2018: $5,225,197Liabilities 2018: $0Net Assets 2018: $5,225,1972018Assets 2019: $5,127,972Liabilities 2019: $0Net Assets 2019: $5,127,9722019Assets 2020: $4,751,674Liabilities 2020: $0Net Assets 2020: $4,751,6742020Assets 2021: $5,827,817Liabilities 2021: $0Net Assets 2021: $5,827,8172021Assets 2022: $6,980,782Liabilities 2022: $0Net Assets 2022: $6,980,7822022Assets 2023: $8,228,680Liabilities 2023: $0Net Assets 2023: $8,228,6802023Assets 2024: $8,990,460Liabilities 2024: $0Net Assets 2024: $8,990,4602024

Highlighted filing

2024

Assets$8,990,460
Liabilities$0
Net Assets$8,990,460
Open 2024 Filing

Operations Trend

Revenue Growth12th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2012: $1,640,1032012Expenses 2013: $1,392,8442013Revenue 2014: $2,656,136Expenses 2014: $1,729,433Net Income 2014: $926,7032014Revenue 2015: $2,062,877Expenses 2015: $2,078,778Net Income 2015: -$15,9012015Revenue 2016: $2,310,336Expenses 2016: $2,268,934Net Income 2016: $41,4022016Revenue 2017: $2,616,564Expenses 2017: $1,977,414Net Income 2017: $639,1502017Revenue 2018: $2,556,606Expenses 2018: $2,194,120Net Income 2018: $362,4862018Revenue 2019: $2,096,180Expenses 2019: $2,193,405Net Income 2019: -$97,2252019Revenue 2020: $1,747,070Expenses 2020: $2,123,368Net Income 2020: -$376,2982020Revenue 2021: $2,736,101Expenses 2021: $1,659,958Net Income 2021: $1,076,1432021Revenue 2022: $3,257,461Expenses 2022: $2,104,496Net Income 2022: $1,152,9652022Revenue 2023: $3,598,908Expenses 2023: $2,237,497Net Income 2023: $1,361,4112023Revenue 2024: $3,470,709Expenses 2024: $2,718,021Net Income 2024: $752,6882024

Highlighted filing

2024

Revenue$3,470,709
Expenses$2,718,021
Net Income$752,688
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$3,470,709
Mission and Program Overview

Mission

To promote and stimulate the increased use and sale of soybeans and soybean products.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$4,772,018$5,460,493▲ $688,475
Land, Buildings, and Equipment, Net$2,501,785$2,557,605▲ $55,820
Savings and Temporary Cash Investments$954,877$972,362▲ $17,485
Total Assets$8,228,680$8,990,460▲ $761,780
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$8,228,680$8,990,460▲ $761,780
Total Net Assets Fund Balance$8,228,680$8,990,460▲ $761,780
Total Liabilities and Net Assets / Fund Balance$8,228,680$8,990,460▲ $761,780

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,602,948-$2,602,948
Land$467,297-$467,297
Compensation and Service Providers
Top Officer Pay29th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Debbie EllisExecutive DiFT$142,800$142,800

Board Members and Trustees

NameTitle
Adam HendricksDirector
Allen PaceDirector
Andrea WillifordDirector
Barry AlexanderDirector
Brent GattonDirector
Caleb RaglandDirector
Clay WellsDirector
Fred L SipesDirector
Glenn HowellDirector
Jeff KingDirector
Jonathan ReynoldsDirector
Larry ThomasDirector
Ryan BivensDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,221,487
Investment Income
$213,932
Other Revenue
$35,290
Change in Net Assets
$752,688

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,470,709
Total Revenue per Audited Statements
$3,470,709
Total Revenue per Form 990
$3,470,709
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,622,386
Salaries, Compensation, and Employee Benefits$95,635
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$812,730$51,332-$864,062
Other Expenses$252,792--$252,792
Depreciation Depletion-$117,705-$117,705
Other Salaries and Wages-$60,685-$60,685
Occupancy-$46,558-$46,558
Other Employee Benefits-$22,973-$22,973
Insurance-$16,262-$16,262
Payroll Taxes-$11,977-$11,977
Fees for Services Accounting-$8,225-$8,225
Total Functional Expenses$2,382,304$335,717$0$2,718,021

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,718,021
Total Expenses per Audited Statements$2,718,021
Total Expenses per Form 990$2,718,021
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
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
No
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Kentucky Soybean
EIN
61-1400681
Phone
2703657214
Address
1001 HIGHWAY 62 W, PRINCETON, KY 42445

Signing Officer

Name
Debbie Ellis
Title
Executive Director
Phone
2703657214
Signed
2024-11-15

Organization Details

Principal Officer
Debbie Ellis
Formed
1974
Legal Domicile
Ky
Voting Board Members
13
Independent Board Members
13
Employees
4

Preparer

Firm
Williams Faughn & Associates Pllc
Address
205 W WASHINGTON ST, PRINCETON, KY 42445-1948
Preparer
Michael R Faughn CPA
Phone
2703653543
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

“Domestic opportunites 234,555 0 0 international market deve 219,368 0 0 wishh program 179,841 0 0 defined support service 94,505 0 0 collection and compliance 0 49,142 0 animal ag initiative 43,367 0 0 usb meeting expense 25,000 0 0 msu soybean promo 15,094 0 0 miscellaneous expense 0 2,190 0 ffa program 1,000 0 0 total 812,730 51,332 0”

Raw XML Appendix369 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/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11865507
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2-880091
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt3-3026647
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt05262718
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11865507
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2-880091
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3-3026647
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt096736
IRS990/PYOtherExpensesAmt02215821
IRS990/PYOtherRevenueAmt043494
IRS990/PYProgramServiceRevenueAmt03458678
IRS990/PYRevenuesLessExpensesAmt01361411
IRS990/PYSalariesCompEmpBnftPaidAmt021676
IRS990/PYTotalExpensesAmt02237497
IRS990/PYTotalRevenueAmt03598908
IRS990/ReconcilationRevenueExpnssAmt0752688
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0954877
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0972362
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt02718021
IRS990ScheduleD/LandGrp/BookValueAmt0467297
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0467297
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02602948
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt02602948
IRS990ScheduleD/RevenueSubtotalAmt03470709
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03070245
IRS990ScheduleD/TotalExpensesPerForm990Amt02718021
IRS990ScheduleD/TotalRevenuePerForm990Amt03470709
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03470709
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02718021
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOMESTIC OPPORTUNITES 234,555 0 0 INTERNATIONAL MARKET DEVE 219,368 0 0 WISHH PROGRAM 179,841 0 0 DEFINED SUPPORT SERVICE 94,505 0 0 COLLECTION AND COMPLIANCE 0 49,142 0 ANIMAL AG INITIATIVE 43,367 0 0 USB MEETING EXPENSE 25,000 0 0 MSU SOYBEAN PROMO 15,094 0 0 MISCELLANEOUS EXPENSE 0 2,190 0 FFA PROGRAM 1,000 0 0 TOTAL 812,730 51,332 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt08228680
IRS990/TotalAssetsEOYAmt08990460
IRS990/TotalAssetsGrp/BOYAmt08228680
IRS990/TotalAssetsGrp/EOYAmt08990460
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0335717
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02382304
IRS990/TotalFunctionalExpensesGrp/TotalAmt02718021
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt08228680
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt08990460
IRS990/TotalProgramServiceExpensesAmt02382304
IRS990/TotalProgramServiceRevenueAmt03221487
IRS990/TotalReportableCompFromOrgAmt0142800
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03470709
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03470709
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt08228680
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt08990460
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01001 HIGHWAY 62 W
IRS990/USAddress/CityNm0PRINCETON
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042445
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.KYSOY.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/PersonNm0DEBBIE ELLIS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02703657214
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0KENTUCKY SOYBEAN
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0PROMOTION BOARD INC
ReturnHeader/Filer/BusinessNameControlTxt0KENT
ReturnHeader/Filer/EIN0611400681
ReturnHeader/Filer/PhoneNum02703657214
ReturnHeader/Filer/USAddress/AddressLine1Txt01001 HIGHWAY 62 W
ReturnHeader/Filer/USAddress/CityNm0PRINCETON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042445
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0false
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0813932458
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WILLIAMS FAUGHN & ASSOCIATES PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0205 W WASHINGTON ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PRINCETON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0424451948
ReturnHeader/PreparerPersonGrp/PhoneNum02703653543
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MICHAEL R FAUGHN CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-11-13T17:58:10-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,990,460
Liabilities
$0
Net assets
$8,990,460
Revenue
$3,470,709
Expenses
$2,718,021
Net income
$752,688
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.99$0.00$8.99$3.47$2.72$0.75
2023Detailed filing. Detailed filing data is available for this year.$8.23$0.00$8.23$3.60$2.24$1.36
2022Detailed filing. Detailed filing data is available for this year.$6.98$0.00$6.98$3.26$2.10$1.15
2021Detailed filing. Detailed filing data is available for this year.$5.83$0.00$5.83$2.74$1.66$1.08
2020Detailed filing. Detailed filing data is available for this year.$4.75$0.00$4.75$1.75$2.12$0.38
2019Detailed filing. Detailed filing data is available for this year.$5.13$0.00$5.13$2.10$2.19$0.10
2018Detailed filing. Detailed filing data is available for this year.$5.23$0.00$5.23$2.56$2.19$0.36
2017Detailed filing. Detailed filing data is available for this year.$4.86$0.00$4.86$2.62$1.98$0.64
2016Detailed filing. Detailed filing data is available for this year.$4.32$0.00$4.32$2.31$2.27$0.04
2015Detailed filing. Detailed filing data is available for this year.$4.28$0.00$4.28$2.06$2.08$0.02
2014Detailed filing. Detailed filing data is available for this year.$4.30$0.00$4.30$2.66$1.73$0.93
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.37$0.00$3.37$1.39
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.60$0.00$2.60$1.64