Fresh Talk Blog
Tom Karst As we check in with our other-worldly arbiter "Marty" again about the merits of the potential merger of the United Fresh Produce Association and the Produce Marketing Association, we find him turning again to the associations' 2009 tax forms.
Finding a helpful web site on "How to Read the IRS Form 990," Marty begins to examine the data.
Tax year: No big reveals here, PMA's tax year is the calendar year, while United's tax year runs from July 1 to June 30. If a merger occurs, something would have to give, but this is the least of the worries. Marty decides: Calendar year.
Name and address: Marty observes that United Fresh sets up shop at 1901 Pennsylvania Ave. in Washington, D.C., while PMA's headquarters is at 1500 Casho Mill Road, Newark, Del. Marty finds a cost of living index web site that shows neither of the two cities are bargains compared to the national average. Newark is rated 121 overall and 154 for housing compared to the U.S. average of 100. Meanwhile, Washington, D.C. tops out at an overall index reading of 135 and a whopping 213 for housing. Marty decides: Keep a small Washington DC office for political lobbyists but move the merged association's support staff to Dallas, Texas. Dallas has an overall cost of living rating of 94 and is centrally located.
Name of principal officer: United Fresh: Tom Stenzel; PMA: Bryan Silbermann. Marty decides he needs to know more about these individuals before he decides who should be the leader of a merged association.
Gross receipts: PMA: $19.4 million; United Fresh: $6.7 million. Marty asks: Why? How?
Tax exempt status: 501(c) (6) for both
Web site: PMA: www.pma.com United Fresh: www.unitedfresh.org
Form of organization: United Fresh: corporation; PMA: corporation. Marty wonders about the distinction between "corporations" and "associations."
Year of formation: PMA: 1949; United Fresh 1904. Marty is impressed with the 100-plus year history of United Fresh and the impressive clout of the much younger PMA. Marty's question: is this a merger of equals?
"Marty" has much more to explore with these tax forms, but he is already beginning to form impressions about each group. We'll join his review of both organizations in a later blog post.
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