Overview
What is Potato Variety Management Institute Inc?
The Potato Variety Management Institute Inc, located in Eagle, Idaho, serves as a catalyst for the successful growth and dissemination of new potato varieties. By gathering and disseminating information on the distinctive characteristics and management techniques of these varieties to farmers, the Institute stimulates innovation in the potato industry. Additionally, the Institute collects license fees and royalties, which are then distributed back to their partners to support the research and breeding program in Idaho, Oregon, and Washington, expanding its reach beyond these states. The Institute employs a dedicated team of one individual, working tirelessly to promote and advance the cultivation of new potato varieties.
Official website here: www.pvmi.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 77% (Three-Star out of Four Star rating).
The Potato Variety Management Institute Inc has received a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The score is based entirely on the Accountability & Finance beacon, suggesting that the organization has a strong governance framework in place, with 90% of its board members being independent.
Strengths of the organization include a high program expense ratio of nearly 96%, which indicates that a significant portion of its budget is directed towards its mission-related activities. The institute also demonstrates strong governance practices, such as having a whistleblower policy and proper documentation retention measures. Furthermore, there is no reported material diversion of assets, indicating responsible management of resources.
However, while the financial indicators are robust, the organization may benefit from expanding its evaluation metrics beyond accountability and finance to provide a more comprehensive view of its overall effectiveness and impact in its field. Overall, the Potato Variety Management Institute Inc shows a commitment to transparency and effective resource management.
This AI summary has been generated from information found on Charity Navigator.
Is Potato Variety Management Institute Inc legitimate?
Potato Variety Management Institute Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Potato Variety Management Institute Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $116,592
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.pvmi.org
What is the mission statement of Potato Variety Management Institute Inc?
The Potato Variety Management Institute Inc's mission is centered around promoting new varieties of potatoes. This organization strives to achieve this goal by providing growers with information about the features and management of these new varieties. Additionally, they collect license fees and royalties and distribute the funds back to their partners to support research and breeding programs. By doing so, they aim to maximize the potential success of these new potato varieties. The institute's efforts are not limited to a specific region, extending beyond Idaho, Oregon, and Washington.
Official website here: www.pvmi.org
Who is the CEO of Potato Variety Management Institute Inc?
Randy Bauscher is the President of Potato Variety Management Institute Inc.
Official website here: www.pvmi.org
What is the revenue of Potato Variety Management Institute Inc?
Potato Variety Management Institute Inc's revenue in 2023 was $1,476,521.
Official website here: www.pvmi.org
Who are the executives of Potato Variety Management Institute Inc and what are their salaries?
The average compensation at Potato Variety Management Institute Inc during 2023 was $116,592. There is 1 employee at Potato Variety Management Institute Inc.
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Official website here: www.pvmi.org
Where can I find the form 990 for Potato Variety Management Institute Inc?
Potato Variety Management Institute Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.pvmi.org
Learn more at the official website: www.pvmi.org
Mission Statement of Potato Variety Management Institute Inc
Potato Variety Management Institute Inc, in its mission, aims to foster the growth and success of new varieties of potatoes beyond the borders of Idaho, Oregon, and Washington. The organization plays a crucial role in this endeavor by disseminating information about the distinctive features and management techniques of these new potato varieties to farmers. Moreover, Potato Variety Management Institute Inc collects license fees and royalties and subsequently distributes these revenues to its partners to bolster the tri-state research and breeding program. In essence, the institute serves as a bridge between potato growers and researchers, facilitating the dissemination of valuable knowledge and supporting the development of innovative potato varieties.
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Impact
October, 2024
Potato Variety Management Institute Inc (PVMI) significantly enhances the agricultural landscape by promoting the adoption of new potato varieties in Idaho, Oregon, Washington, and beyond. By focusing on maximizing the potential success of these varieties, PVMI provides essential information on variety features and management practices to growers, helping them make informed decisions that can lead to increased yields and profitability.
Additionally, PVMI plays a crucial role in bridging the gap between researchers and farmers. By collecting license fees and royalties, they are able to fund and support the Tri-State Research and Breeding Program, fostering innovation and advancement in potato cultivation. This collaboration ensures that the latest research translates into practical solutions for growers, ultimately resulting in a more sustainable and productive potato industry.
The impact of PVMI extends beyond individual farmers; it contributes to the overall vitality of the agricultural economy in the region. By promoting diverse and improved potato varieties, PVMI helps enhance the resilience of the sector, adapts to changing market demands, and supports food security initiatives. Overall, PVMI's efforts in research, education, and community collaboration are essential for the continued success and evolution of the potato industry in the Pacific Northwest and beyond.
This information is meant to be a general summary of Potato Variety Management Institute Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $8,484
- Program Service Revenue: $1,468,037
- Gross Receipts: $1,476,521
Assets and Liabilities:
- Total Assets: $1,346,452
- Total Liabilities: $0
- Net Assets: $1,346,452
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
OTHER INCOME
Revenue
$106
ROYALTY FEES
Revenue
$1,434,746
VARIETAL LICENSING FEES
Revenue
$33,185
Organization Details
Founding Year
2005
Phone
(208) 242-2644Principal Officer
Randy Bauscher
Main Address
661 SOUTH RIVERSHORE LANE, EAGLE, ID, 83616
Website
www.pvmi.orgNTEE Category
Code: V02 - Social research
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