Nonprofit · EIN 74-1002714
RIO FARMS INCORPORATED
Tax-exempt · MONTE ALTO, TX 78538
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| August 31, 2025 | 990 | $4,943,750 | $2,759,917 | $2,183,833 | $66,904,937 | $11,305,905 | $55,599,032 |
| August 31, 2024 | 990 | $2,767,176 | $2,819,457 | -$52,281 | $65,196,706 | $11,781,507 | $53,415,199 |
| August 31, 2023 | 990 | $3,447,320 | $3,211,454 | $235,866 | $66,139,561 | $12,672,081 | $53,467,480 |
Financial details: 990 for the year ended August 31, 2025
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $3,704,718
- Investment income
- $704,517
- Royalties
- $231
- Net rental income
- $534,284
- Net gain from sales of assets
- $213,025
- Other revenue
- $534,515
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $325,000
- Other salaries and wages
- $272,906
- Salaries, compensation and benefits (total)
- $636,212
- Professional fundraising fees
- $0
- Legal fees
- $13,320
- Accounting fees
- $33,600
- Occupancy
- $106,925
- Travel
- $7,200
- Depreciation
- $262,497
- Program services (functional)
- $1,914,664
- Management and general (functional)
- $845,253
Balance sheet and other
- Total assets, start of year
- $65,196,706
- Total assets, end of year
- $66,904,937
- Total liabilities, end of year
- $11,305,905
- Net assets, end of year
- $55,599,032
- Land, buildings and equipment
- $52,245,183
- Publicly traded securities
- $7,912,583
- Net assets without donor restrictions
- $55,599,032
- Gross receipts
- $4,977,978
- Employees
- 14
- Year formed
- 1941
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended August 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATT KLOSTERMANN | PRES/GEN MGR Trustee or director | 40 | $205,000 |
| BARRY DICKERSON | DIRECTOR Trustee or director | 1 | $24,000 |
| GLENN WILDE | DIRECTOR Trustee or director | 1 | $24,000 |
| LANCE NEUHAUS | CHAIRMAN Officer | 1 | $24,000 |
| BOB STEWART | VICE CHAIRMAN Officer | 1 | $24,000 |
| JACK HARBISON | SECRETARY Officer | 1 | $24,000 |
990 for the year ended August 31, 2024: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATTHEW KLOSTERMANN | President & CEO Trustee or director | 40 | $205,000 |
| BARRY DICKERSON | DIRECTOR Trustee or director | 1 | $20,000 |
| GLENN WILDE | DIRECTOR Trustee or director | 1 | $20,000 |
| LANCE NEUHAUS | CHAIRMAN Officer | 1 | $20,000 |
| BOB STEWART | VICE CHAIRMAN Officer | 1 | $20,000 |
| JACK HARBISON | SECRETARY Officer | 1 | $20,000 |
990 for the year ended August 31, 2023: 6 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MATT KLOSTERMANN | PRES/GEN MGR Officer | 40 | $150,000 |
| LANCE NEUHAUS | CHAIRMAN Officer | 1 | $0 |
| BOB STEWART | VICE CHAIRMAN Officer | 1 | $0 |
| JACK HARBISON | SECRETARY Officer | 1 | $0 |
| BARRY DICKERSON | DIRECTOR Officer | 1 | $0 |
| GLENN WILDE | DIRECTOR Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 25601 FM 88, MONTE ALTO, TX 78538-3498
- Signed the 990
- MATT KLOSTERMANN, PRES/GEN MGR
- Phone
- (956) 262-1387
- Return prepared by
- D Williams & Co Inc
Mission
THE BETTERMENT OF THE CONDITION OF PURSUITS, IMPROVING THE GRADE OF AGRI PRODUCTS, AND DEVELOPMENT OF A HIGHER DEGREE OF EFFICIENCY IN THE AGRICULTURAL COMMUNITY.
Program accomplishments
- DURING THE YEAR RIO FARMS INC PERFORMED VARIOUS AGRICULTURAL RESEARCH PROJECTS AND DEMONSTRATED VARIOUS FARMING PRACTICES AND THE VIABILITY OF VARIOUS PLANT VARIETIES.Expenses $1,167,364 · revenue $4,239,002
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in August, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | August 31, 2026 | January 15, 2027 | Not due yet |
| 2024 | August 31, 2025 | January 15, 2026 | 990 on file |
| 2023 | August 31, 2024 | January 15, 2025 | 990 on file |
IRS record
- EIN
- 74-1002714
- Tax-exempt status
- 501(c)(5): Labor, agricultural or horticultural organization
- Donations deductible
- No
- Exempt since
- 1958
- Accounting year ends
- August
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $66,904,937
- Income (IRS master file)
- $4,977,978
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | August 2025 | $4,943,750 | $2,759,917 | $66,904,937 | XML |
| 990 | August 2024 | $2,767,176 | $2,819,457 | $65,196,706 | XML |
| 990 | August 2023 | $3,447,320 | $3,211,454 | $66,139,561 | XML |
| 990 | August 2022 | $3,932,720 | $2,731,572 | $66,286,539 | IRS |
| 990 | August 2021 | – | – | – | IRS |
| 990 | August 2020 | – | – | – | IRS |
| 990 | August 2019 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 74-1002714).
Questions about RIO FARMS INCORPORATED
- What is the EIN of RIO FARMS INCORPORATED?
- The employer identification number (EIN) of RIO FARMS INCORPORATED is 74-1002714.
- Is RIO FARMS INCORPORATED tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(5) since 1958.
- Are donations to RIO FARMS INCORPORATED tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does RIO FARMS INCORPORATED file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of RIO FARMS INCORPORATED due?
- The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did RIO FARMS INCORPORATED last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended August 2025.
- Who are the officers and directors of RIO FARMS INCORPORATED?
- The 990 for the year ended August 31, 2025 lists 6 people; 6 received compensation from the organization, the highest $205,000 (MATT KLOSTERMANN, PRES/GEN MGR).
- How much revenue does RIO FARMS INCORPORATED have?
- On its 990 for the year ended August 31, 2025 it reported revenue of $4,943,750, expenses of $2,759,917 and total assets of $66,904,937 at year end.
Other nonprofits in MONTE ALTO
- MONTE ALTO RECREATION CENTER EIN 84-4636128 · last filed 990-N for 2024