North Dakota Soybean Council

Nonprofit profile at a glance

EIN
934513034
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Fargo, ND, USA
Phone
7015669300
Rating
71
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Agricultural Programs

Reported finances

Revenue
$6,298,286
Expenses
$7,453,494
Assets
$10,658,296
Liabilities
$2,317,471

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

Leadership & pay

13 people listed

Executive titles in this filing

  • STEPHANIE SINNER (EXECUTIVE DIRECTOR)

Highest reported compensation

  • STEPHANIE SINNER (EXECUTIVE DIRECTOR): $114,933 total reported compensation
  • JAMES JIM THOMPSON (BOARD CHAIR): $1,890 total reported compensation
  • ADAM REDMANN (DIRECTOR): $1,418 total reported compensation

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

Overview

Mission

The ndsc serves as a qualified state soybean board under the federal soybean promotion, research and consumer information act. Nd soybean farmers contribute 1/2 of 1% of the price of each bushel sold at the first point of sale to the soybean checkoff. The ndsc farmer board oversees the inverstment of 50% of those dollars to fund research, market development, promotion and education initiatives.

What it reported doing in 2024

Ndsc promotes and supports outreach and agricultural education though both internal initiatives and partnerships with outside organizations. These efforts have helped equip teachers to educate students on the impact of soybean farming and agriculture in general. Additionally, we engage with students, health & food nutrition experts, and consumers to drive awareness of the benefits of soy.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 93
  • Accountability: 37
  • Sustainability: 32
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 88.4%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 8.3%; rating input score 8; 6th percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -18.3%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 1.43; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.22; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 1.7%; rating input score 77; 77th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 88.4% of spending went to programs
  • Governance: 1 of 12 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $6.6M in reported program spending
  • Leadership: top reported pay $115K · 13 people listed
  • Highest-paid contractors: 5 contractors listed · $1M reported
  • Consistency: 31 of 31 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Accountability: Independent voting board scored 8/100.
  • High — Sustainability: Operating margin scored 7/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.