2025-02-03T16:08:18-06:00 2024-06-30 450250958 Eide Bailly LLP 345 N Reid Pl Ste 400 Sioux Falls SD 571037034 990 2023-07-01 460373309 South Dakota Soybean Association SOUT 6053309942 5000 S Broadband Lane 100 Sioux Falls SD 57108 Kevin Deinert President 6053309942 2025-01-28 1 1 Laurie Hanson CPA P00851848 6053391999 2025-01-28 2023 2025-03-06 01:10:19Z Kevin Deinert 5000 S Broadband Lane 100 Sioux Falls SD 57108 693486 0 X www.sdsoybean.org X 1982 SD Improve competitiveness and profitability for South Dakota Soybean Farmers. 13 13 8 21 5400 0 49530 13522 641810 615903 8095 16857 27116 26246 726551 672528 125442 0 0 0 62394 111006 0 0 0 484454 457626 672290 568632 54261 103896 909324 1028770 130044 145594 779280 883176 X Grow market opportunities and value for South Dakota soybean farmers through public policy and education. 0 0 During the year ending June 30, 2024, the South Dakota Soybean Association maintained its membership with communication and educational programs: 1) SDSA did a trade show, Ag Outlook, which included approximately 600 producers from the tri-state area. The one day event included 63 vendor booths and informational speakers. Information provided pertained to agricultural marketing and economic trends.2) A golf/networking event which included 144 area producers and sales representatives was held. Educational displays were used to provide information regarding soybeans. 3) The Soybean Leader magazine is a publication which SDSA distributes to the South Dakota soybean producers. Approximately 18,000 copies of the publication were sent out quarterly, for a total of 4 times during the year. Articles included new uses for soybeans, trends, research, disease, and other information regarding soybeans. Additionally, SDSA continued working to research and develop ways to improve the marketing of soybean products. 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 8 0 1 8 1 1 1 0 0 0 0 0 0 0 X 13 13 0 0 1 0 1 1 0 1 0 0 0 1 1 0 1 1 1 0 0 0 X SD Soybean Association 6053309942 5000 S Broadband Lane Suite 100 Sioux Falls SD 57108 X Kevin Deinert President 1.50 X X 0 0 0 Chad Schooley 1st Vice President 1.50 X X 0 0 0 Drew Peterson-Secretary (Until Dec)/2nd VP(As of Jan) 1.50 X X 0 0 0 Tanner Hento-Young Leader (Until Dec)/Secretary(As of Jan) 1.50 X X 0 0 0 Brent Greenway Treasurer 1.50 X X 0 0 0 Chad Nelsen Director 1.50 X 0 0 0 Jeff Thompson-2nd VP (Until Dec)/Director(As of Jan) 1.50 X 0 0 0 Dan Nigg Director (As of Aug 23) 1.50 X 0 0 0 Andy Weisser Director (As of Jan 24) 1.50 X 0 0 0 Jesse King Director At-Large 1.50 X 0 0 0 Ross Tschetter Young Leader (As of Jan 24) 1.50 X 0 0 0 Riley Schoenfelder Young Leader (As of Jan 24) 1.50 X 0 0 0 Jeff Kloucek Young Leader 1.50 X 0 0 0 Derrick Scott Director (Until Dec 23) 1.50 X 0 0 0 John Horter Director (Until Dec 23) 1.50 X 0 0 0 Jamie Johnson Director (Until Dec 23) 1.50 X 0 0 0 Jerome Schmitz Executive Director 4.00 X 2462 0 214 2462 0 214 0 0 0 0 0 13522 13522 Soybean Leader Magazin 513120 317520 312120 5400 SDSRPC Project Service 110000 125074 125074 Ag Outlook 900099 119535 119535 Membership Dues 900099 40180 40180 13594 13594 615903 16857 16857 47204 20958 26246 26246 672528 610503 5400 43103 X 2863 99118 9025 2244 4655 74564 44982 6000 35069 45000 Yield Contest 77102 Legislative Expense 49186 SDSA Ag Outlook 37080 SDSA Membership Expense 24546 57198 568632 741064 980337 166026 46529 2234 1904 4500 4500 0 0 909324 1028770 31347 35045 98697 110549 130044 145594 X 779280 883176 779280 883176 909324 1028770 103896 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 4500 4500 0 0 X 724667 19386 11795 31181 693486 -20958 -20958 672528 622933 19386 13957 33343 589590 -20958 -20958 568632 Part X, Line 2: The Association believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Association would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. Part XI, Line 2d - Other Adjustments: SoyPAC Revenue 11,795. Part XI, Line 4b - Other Adjustments: Special Event Expense -20,958. Part XII, Line 2d - Other Adjustments: SoyPac Expense 13,957. Part XII, Line 4b - Other Adjustments: Special Event Expense -20,958. Golf Tournament 47204 47204 1320 1527 7106 6426 4579 47204 47204 1320 1527 7106 6426 4579 20958 26246 Form 990, Part VI, Section A, line 4 The By-laws were updated in Fiscal Year 2024. Article III, Section 2 was updated from 9 to 7 directors to be elected from districts in which they reside. The following statement was also added: Young leader designees may also serve additional two consecutive one-year terms. Once a Young Leader board member has served for three total years, they will vacate the board as a young leader representative, but are eligible to run for an "at-large or "district" position and are eligible for three consecutive, three-year terms. Young Leader board members are not eligible to become officers while they are a member of the board as "Young Leaders". Article III, Section 4 was updated from 4 to 5 Industry Representatives shall be appointed to Board of Directors. Article III, Section 5 was updated from 9 to 7 total districts. Form 990, Part VI, Section A, line 6 Any person who is an actual producer of soybeans, or is interested in the production, use, improvement or the marketing of soybeans in South Dakota may become a member upon payment of annual dues. Any resident of the State of South Dakota who is a member of the American Soybean Association shall be a member of this corporation. Form 990, Part VI, Section A, line 6 This is an association with members. Form 990, Part VI, Section A, line 7a Each membership is entitled to one vote on each matter at any meeting of the members including the election of Directors. Form 990, Part VI, Section A, line 8b There are no committees with authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The 990 is reviewed by the Executive Director and Operations Manager in detail before it is presented to the full board of directors of the SD Soybean Association. Form 990, Part VI, Section B, line 12c The conflict of interest policy covers board members, officers, and members of a committee with governing board delegated powers. The board makes a determination of whether there is a conflict of interest and if so, implements the procedure for evaluating the issue or transaction involved. The board member, officer, or committee member with the conflict must refrain from voting. Form 990, Part VI, Section C, line 19 Financial statements are available at the annual meeting in December. Financial statements and other documents are also available in the office upon request. Form 990, Part VII The executive director is compensated through South Dakota Soybean Association. However, the majority of his or her time is spent working for Soybean Research & Promotion Council. The Council reimburses the association for the executive director's salary and benefit expense. Total compensation and benefits reimbursed by the Council for Jerome Schmitz, executive director for the calendar year ended within the tax year was $34,179 and $2,972 respectively. The amount reported on part VII includes only the portion of salary and benefit attributable to Jerome's work for the association. Form 990, Part IX, line 24e Board Expenses 20,459. Reimbursement for Expenses Related 19,148. Shop Talk Expense 13,363. SDSA Misc Expenses 4,228.