Civic Intelligence

Agbenefits

990 • Fiscal year 2016 • EIN 85-6127618

Jun 01, 2015 to May 31, 2016 • Filed on Oct 03, 2016

P O Box 50850Amarillo, TX 79159

(806) 544-9592

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.42x

Higher debt load relative to assets than 83% of similar nonprofits.

2016 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

77th percentile

0.16x

Higher debt load relative to revenue than 77% of similar nonprofits.

2016 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2016

Net Margin

55th percentile

4.0%

Higher net margin than 55% of similar nonprofits.

2016 filings • 501(c)9 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2016

Asset Growth

16th percentile

-9.9%

Faster asset growth than 16% of similar nonprofits.

2016 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

64th percentile

9.5%

Faster revenue growth than 64% of similar nonprofits.

2016 filings • 501(c)9 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Assets

Down

$2,948,043

Down $322,882 (-9.9%) from 2015

Net Assets

Down

$1,705,664

Down $693,236 (-29%) from 2015

Liabilities

Up

$1,242,379

Up $370,354 (+42%) from 2015

Revenue

Up

$7,806,954

Up $679,682 (+9.5%) from 2015

Expenses

Down

$7,494,526

Down $404,189 (-5.1%) from 2015

Net Income

Up

$312,428

Up $1,083,871 (+140%) from 2015

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2012: $3,497,392Liabilities 2012: $697,588Net Assets 2012: $2,799,8042012Assets 2013: $4,019,702Liabilities 2013: $633,995Net Assets 2013: $3,385,7072013Assets 2014: $4,366,964Liabilities 2014: $485,498Net Assets 2014: $3,881,4662014Assets 2015: $3,270,925Liabilities 2015: $872,025Net Assets 2015: $2,398,9002015Assets 2016: $2,948,043Liabilities 2016: $1,242,379Net Assets 2016: $1,705,6642016Assets 2017: $2,625,357Liabilities 2017: $1,461,014Net Assets 2017: $1,164,3432017Assets 2018: $2,459,673Liabilities 2018: $1,432,359Net Assets 2018: $1,027,3142018Assets 2019: $2,914,912Liabilities 2019: $2,693,774Net Assets 2019: $221,1382019Assets 2020: $914,556Liabilities 2020: $133,063Net Assets 2020: $781,4932020Assets 2021: $549,360Liabilities 2021: $0Net Assets 2021: $549,3602021Assets 2022: $539,529Liabilities 2022: $0Net Assets 2022: $539,5292022Assets 2023: $532,859Liabilities 2023: $0Net Assets 2023: $532,8592023Assets 2024: $0Net Assets 2024: $02024

Highlighted filing

2016

Assets$2,948,043
Liabilities$1,242,379
Net Assets$1,705,664

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2012: $6,997,741Expenses 2012: $6,619,355Net Income 2012: $378,3862012Revenue 2013: $6,444,422Expenses 2013: $5,831,865Net Income 2013: $612,5572013Revenue 2014: $5,867,143Expenses 2014: $5,770,567Net Income 2014: $96,5762014Revenue 2015: $7,127,272Expenses 2015: $7,898,715Net Income 2015: -$771,4432015Revenue 2016: $7,806,954Expenses 2016: $7,494,526Net Income 2016: $312,4282016Revenue 2017: $8,071,207Expenses 2017: $8,884,501Net Income 2017: -$813,2942017Revenue 2018: $8,424,202Expenses 2018: $8,482,453Net Income 2018: -$58,2512018Revenue 2019: $8,454,385Expenses 2019: $9,625,839Net Income 2019: -$1,171,4542019Revenue 2020: $4,402,737Expenses 2020: $3,842,382Net Income 2020: $560,3552020Revenue 2021: $11,206Expenses 2021: $243,339Net Income 2021: -$232,1332021Revenue 2022: $5,884Expenses 2022: $15,715Net Income 2022: -$9,8312022Revenue 2023: $472Expenses 2023: $7,142Net Income 2023: -$6,6702023Revenue 2024: $520Expenses 2024: $533,379Net Income 2024: -$532,8592024

Highlighted filing

2016

Revenue$7,806,954
Expenses$7,494,526
Net Income$312,428
Jump To
Filing Snapshot
Filing Period
Jun 1, 2015 to May 31, 2016
Signed
Oct 3, 2016
Return Version
2015v2.0
Gross Receipts
$7,806,954
Mission and Program Overview

Mission

Provide fully insured life and health coverage under the self-insured multiple employer welfare arrangement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$2,654,332$2,506,127▼ $148,205
Rtn Earn Endowment Incm Other Fnds$2,398,900$1,705,664▼ $693,236
Other Notes and Loans Receivable, Net$55,862$295,665▲ $239,803
Land, Buildings, and Equipment, Net$172,925$132,889▼ $40,036
Prepaid Expenses and Deferred Charges$5,165$9,278▲ $4,113
Accounts Receivable$16,262$2,712▼ $13,550
Cash and Non-Interest-Bearing Accounts$365,279$272▼ $365,007
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$3,270,925$2,948,043▼ $322,882
Other Assets Total$1,100$1,100→ $0
Liabilities
Accounts Payable and Accrued Expenses$822,314$1,242,379▲ $420,065
Deferred Revenue$49,711--
Total Liabilities$872,025$1,242,379▲ $370,354
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,398,900$1,705,664▼ $693,236
Total Liabilities and Net Assets / Fund Balance$3,270,925$2,948,043▼ $322,882

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$129,640$102,241$231,881
Equipment-$5,000$5,000
Leasehold Improvements$3,249$537$3,786
Compensation and Service Providers

Board Members and Trustees

NameTitle
James Thrane TurnerChairman
Ben BoernerDirector
Craig RohrbachDirector
Dean SasserDirector
Paul WilsonDirector
Tony WilliamsDirector
Kimberly HolcombExecutive Director
Bret BrownSecretary/Treas
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$7,773,769
Investment Income
$33,185
Other Revenue
$0
Change in Net Assets
$312,428

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,806,954
Total Revenue per Audited Statements
$7,806,954
Total Revenue per Form 990
$7,806,954
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$6,849,815
Salaries, Compensation, and Employee Benefits$644,711
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$554,574$6,320-$560,894
Other Salaries and Wages$254,113$108,905-$363,018
Other Expenses$197,538--$197,538
Current Officers, Directors, Trustees, and Key Employees$82,320$35,280-$117,600
Other Employee Benefits$62,177$26,648-$88,825
Fees for Services Legal$40,331$4,481-$44,812
Pension Plan Contributions$30,289$12,981-$43,270
Depreciation Depletion$38,770$4,308-$43,078
Payroll Taxes$22,399$9,599-$31,998
Advertising$20,617$2,291-$22,908
Occupancy$19,332$2,148-$21,480
Travel$19,054$2,118-$21,172
Office Expenses$16,475$1,831-$18,306
Fees for Services Accounting$9,900$1,100-$11,000
Insurance$7,455$828-$8,283
Interest$842$94-$936
Total Functional Expenses$7,275,594$218,932$0$7,494,526

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$7,494,526
Total Expenses per Audited Statements$7,494,526
Total Expenses per Form 990$7,494,526
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

CFO and Executive Director review the tax return. After finalizing the tax return, the Chairman of the Board reviews and signs the tax return.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Each year the Board of Directors and Key Employees sign a conflict of interest statement.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

The board and compensation committee review and approve compensation.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Texas Agricultural Cooperative Trust
EIN
85-6127618
Phone
8065449592
Address
P O BOX 50850, AMARILLO, TX 79159

Signing Officer

Name
Kim Holcomb
Title
Executive Director
Signed
2016-10-03
Discuss with paid preparer
Yes

Organization Details

Formed
2002
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
0
Employees
10

Preparer

Firm
Moseley & Riddle
Address
621 West 7th Street, Plainview, TX 79072-6219
Preparer
Rita Moseley
Phone
8062933681
Supplemental Narrative

Additional Explanations

Other Changes In Net Assets Or Fund Balances - Other Decreases

Change in reserves = -$1005664

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IRS990/OtherExpensesGrp/TotalAmt05213769
IRS990/OtherExpensesGrp/TotalAmt1443106
IRS990/OtherExpensesGrp/TotalAmt2242533
IRS990/OtherExpensesGrp/TotalAmt3197538
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0108905
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0254113
IRS990/OtherSalariesAndWagesGrp/TotalAmt0363018
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt055862
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0295665
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt09599
IRS990/PayrollTaxesGrp/ProgramServicesAmt022399
IRS990/PayrollTaxesGrp/TotalAmt031998
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt012981
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt030289
IRS990/PensionPlanContributionsGrp/TotalAmt043270
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt05165
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt09278
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0CLAIM PAYMENT REFUNDS
IRS990/ProgramServiceRevenueGrp/Desc1INCREASE RESERVE FUNDING
IRS990/ProgramServiceRevenueGrp/Desc2MEDICAL EXCESS CLAIM REIM
IRS990/ProgramServiceRevenueGrp/Desc3PREMIUM CONTRIBUTUIONS
IRS990/ProgramServiceRevenueGrp/Desc4REBATES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt078633
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11005664
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2148357
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt36455854
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt461508
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt078633
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11005664
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2148357
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt36455854
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt461508
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt025755
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt07303163
IRS990/PYProgramServiceRevenueAmt07101517
IRS990/PYRevenuesLessExpensesAmt0-771443
IRS990/PYSalariesCompEmpBnftPaidAmt0595552
IRS990/PYTotalExpensesAmt07898715
IRS990/PYTotalRevenueAmt07127272
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0312428
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt02398900
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt01705664
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02654332
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02506127
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/DepreciationAmt05000
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt05000
IRS990ScheduleD/ExpensesSubtotalAmt07494526
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt03249
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0537
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt03786
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0129640
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0102241
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0231881
IRS990ScheduleD/RevenueSubtotalAmt07806954
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0132889
IRS990ScheduleD/TotalExpensesPerForm990Amt07494526
IRS990ScheduleD/TotalRevenuePerForm990Amt07806954
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt07806954
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt07494526
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0CFO and Executive Director review the tax return. After finalizing the tax return, the Chairman of the Board reviews and signs the tax return.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each year the Board of Directors and Key Employees sign a conflict of interest statement.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board and compensation committee review and approve compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CHANGE IN RESERVES = -$1005664
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Other Changes In Net Assets Or Fund Balances - Other Decreases
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt03270925
IRS990/TotalAssetsEOYAmt02948043
IRS990/TotalAssetsGrp/BOYAmt03270925
IRS990/TotalAssetsGrp/EOYAmt02948043
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt010
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0218932
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt07275594
IRS990/TotalFunctionalExpensesGrp/TotalAmt07494526
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0872025
IRS990/TotalLiabilitiesEOYAmt01242379
IRS990/TotalLiabilitiesGrp/BOYAmt0872025
IRS990/TotalLiabilitiesGrp/EOYAmt01242379
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02398900
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01705664
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt023753
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt023753
IRS990/TotalProgramServiceRevenueAmt07773769
IRS990/TotalRevenueGrp/ExclusionAmt033185
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07773769
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt07806954
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt03270925
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02948043
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/ManagementAndGeneralAmt02118
IRS990/TravelGrp/ProgramServicesAmt019054
IRS990/TravelGrp/TotalAmt021172
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KIM HOLCOMB
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-10-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TEXAS AGRICULTURAL COOPERATIVE TRUST
ReturnHeader/Filer/BusinessNameControlTxt0TEXA
ReturnHeader/Filer/EIN0856127618

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