Maryland Soybean Board

Nonprofit profile at a glance

EIN
521214909
IRS 990 coverage
2019–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Cordova, MD, USA
Phone
443-812-4526
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,097,244
Expenses
$1,243,419
Assets
$1,010,145
Liabilities
$210,407

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

Leadership & pay

10 people listed

People named in this filing

  • EDDIE BOYLE (CHAIRMAN)
  • RALPH STAMBAUGH (DIRECTOR)
  • DALE BROWN (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 Maryland Soybean Board works to maximize the profitability of Maryland soybean producers by investing Maryland checkoff funds in research, promotion and communication projects.

What it reported doing in 2024

Promotion of soybeans at various fairs and meetings, educational programs on soybeans and their many uses, communication of board activities through news releases, newsletters, annual report, and social media.

Operating model

Revenue model
Earned-program. 94% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 46% for direct work, and 54% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 84
  • Accountability: 94
  • Sustainability: 30
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.4%; rating input score 94
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 78.9%; rating input score 79; 34th percentile among comparable filings
  • 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: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.3%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 0.81; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 8% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 20.1% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • What they do: 2 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 100% of revenue deployed · 94.4% of spending went to programs
  • Governance: 10 of 10 board members independent · 6 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $1.2M in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.

  • High — Sustainability: Operating margin scored 14/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.