Overview
What is Maryland Soybean Board?
The Maryland Soybean Board is a nonprofit organization based in Salisbury, Maryland. As per federal law, half of the assessments they collect are forwarded to the United Soybean Board. Their primary mission is to fund projects that promote the expansion of soybean exports, raise awareness and education about soybeans, and conduct research to reduce production costs for farmers. They do this by collecting assessments and then disbursing the funds to support marketing, promotion of soybeans, new uses for soybeans, soybean education, and soybean research. The board's activities aim to benefit both farmers and consumers by enhancing the value and marketability of soybeans.
Official website here: www.mdsoy.com
Is Maryland Soybean Board legitimate?
Maryland Soybean Board is a legitimate nonprofit organization registered as a 501(c)(5) entity. Maryland Soybean Board 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.
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Official website here: www.mdsoy.com
What is the mission statement of Maryland Soybean Board?
The Maryland Soybean Board's mission is centered around funding projects that aim to expand soybean exports, promote soybeans, and educate both farmers and consumers about soybean research. Their primary objective is to collect assessments and disburse the funds collected towards marketing, promoting soybeans, discovering new uses for soybeans, and conducting soybean research. This initiative is intended to decrease production costs for farmers. As per federal law, half of the assessments collected are forwarded to the United Soybean Board.
Official website here: www.mdsoy.com
Who is the CEO of Maryland Soybean Board?
Sandra Davis is the Chairman of Maryland Soybean Board.
Official website here: www.mdsoy.com
What is the revenue of Maryland Soybean Board?
Maryland Soybean Board's revenue in 2022 was $1,729,119.
Official website here: www.mdsoy.com
Who are the executives of Maryland Soybean Board and what are their salaries?
Here are 10 key members and their salaries:
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Official website here: www.mdsoy.com
Where can I find the form 990 for Maryland Soybean Board?
Maryland Soybean Board's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.mdsoy.com
Learn more at the official website: www.mdsoy.com
Mission Statement of Maryland Soybean Board
Maryland Soybean Board, as a mandated organization, is tasked with collecting assessments from soybean farmers. The funds collected are then distributed to fund various projects aimed at expanding soybean exports, promoting soybeans, and educating both farmers and consumers about soybean research. The primary objective of these projects is to decrease production costs for farmers while simultaneously promoting the use of soybeans in new and innovative ways. By doing so, the Maryland Soybean Board strives to boost the soybean market and support the soybean farming community. In accordance with federal law, half of the collected assessments are forwarded to the United Soybean Board.
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Impact
October, 2024
The Maryland Soybean Board plays a crucial role in enhancing the soybean industry in the state by funding various projects aimed at expanding soybean exports and promoting the use of soybeans. By educating both farmers and consumers about soybean research, the board helps to improve the overall understanding and utilization of soybeans in the agricultural sector. This educational outreach not only informs farmers about best practices and new technologies but also raises consumer awareness of soybeans and their benefits.
In accordance with federal regulations, the board is required to allocate half of the assessments it collects to the United Soybean Board, ensuring that Maryland's interests are represented at a national level. The mission of the Maryland Soybean Board is centered around collecting assessments and strategically disbursing funds to support marketing initiatives, research into new soybean uses, and efforts to lower production costs for farmers. By fostering growth in these areas, the board significantly contributes to the sustainability and profitability of soybean farming in Maryland.
This information is meant to be a general summary of Maryland Soybean Board. 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 2022.
- Investment Income: $1,683
- Program Service Revenue: $1,591,367
- Gross Receipts: $1,729,119
Assets and Liabilities:
- Total Assets: $852,931
- Total Liabilities: $183,193
- Net Assets: $669,738
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ASSESSMENTS 1ST PURCHA
Revenue
$1,591,367
Organization Details
Founding Year
1980
Phone
(410) 742-9500Principal Officer
Sandra Davis
Main Address
PO BOX 319, SALISBURY, MD, 21803
Website
www.mdsoy.comNTEE Category
Code: K20 - Food
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