The Cotton Foundation

Nonprofit profile at a glance

EIN
626048143
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Cordova, TN, USA
Phone
9012749030
Rating
77
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Research Institutes and Public Policy Analysis

Official website

Reported finances

Revenue
$1,252,489
Expenses
$1,355,117
Assets
$5,184,625
Liabilities
$125,347

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

Leadership & pay

19 people listed

Executive titles in this filing

  • PHILLIP EDWARDS III (PRESIDENT)
  • GARY ADAMS (EXECUTIVE VICE PRESIDENT)
  • CHAD BREWER (EXECUTIVE DIRECTOR/SECRETA)

Highest reported compensation

  • GARY ADAMS (EXECUTIVE VICE PRESIDENT): $528,276 total reported compensation
  • CHAD BREWER (EXECUTIVE DIRECTOR/SECRETA): $225,356 total reported compensation
  • DREW DAVIS (ASSISTANT TREASURER): $189,185 total reported compensation

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

Overview

Mission

To encouage and aid education, scientific experimentation, and research relating to cotton.

What it reported doing in 2024

Grants - 416,414other expenses ( salaries, benefits, and misc charges to programs) - 97,288research and education projects - 90,697book series - 301technical/education exhibits - 50,000congressional staff education - 577policy education program - 16cotton genome initiative workshop - 9,795educational outreach - 35,071emerging leaders - 66,629ipm research & education - 59,945cotton industry advocates program - 18,222

Operating model

Revenue model
Donor-supported. 68% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 63% for direct work, and 37% for grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 71
  • Accountability: 82
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 95.1%; rating input score 95
  • Program expense ratio: 83.5%; rating input score 84
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th 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: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -8.2%; rating input score 19; 19th percentile among comparable filings
  • Total-asset coverage ratio: 3.83; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 60; 60th percentile among comparable filings
  • Officer compensation ratio: 11.5%; rating input score 32; 32nd percentile among comparable filings

Growth

  • Program expense growth: 29.6% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 10.3% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 55th percentile among comparable filings

Details

  • Where the money goes: 95.1% of revenue deployed · 83.5% of spending went to programs
  • Governance: 16 of 16 board members independent · 5 of 9 filing controls reported
  • Programs: 4 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $528K · 19 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 29 of 29 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 19 filed money-flow records
  • Related organizations: 19 filed related-organization links
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Sustainability: Operating margin scored 19/100.
  • Moderate — Sustainability: Officer compensation ratio scored 32/100.