American Sweet Potato Marketing Institute Inc

Nonprofit profile at a glance

EIN
462425262
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Benson, NC, USA
Phone
9198941067
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Food, Agriculture, and Nutrition N.E.C.

Reported finances

Revenue
$494,965
Expenses
$419,305
Assets
$103,296
Liabilities
$27,953

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • KEITH GROVEN (PRESIDENT)

People named in this filing

  • JOHN C BARNES (DIRECTOR)
  • TIM DISMUKES (DIRECTOR)
  • MICHELLE GRAINGER (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The exempt purpose of the american sweet potato marketing institute, inc. Is to (i)use generic marketing programs, both foreign and domestic, to promote the united states sweet potato industry; (ii) to promote research activities designed to develop new and better sweet potato varieties, disease and insect control, sustainable and efficient horticultural practices, as well as ideas to reduce the barriers to trade and identifying new markets and methods of trade; and (iii) to provide members with useful and practical information, trends and trading practices relative to the operation and management of the sweet potato industry.

What it reported doing in 2024

The organization participates in the united states department of agriculture's market access program as well as the emerging markets program to help develop, maintain and expand export markets for united states sweetpotatos.

Operating model

Revenue model
Grant-funded. 78% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 46
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 82.1%; rating input score 82
  • Program expense ratio: 96.9%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.3%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0.27; rating input score 17; 17th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 9.9% per year; rating input score 100; 69th percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: -6% per year; rating input score 0; 9th percentile among comparable filings

Details

  • Where the money goes: 82.1% of revenue deployed · 96.9% of spending went to programs
  • Governance: 14 of 14 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $406K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules · includes major donors
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 17/100.