Illinois Farm Business Farm Management Association

Organization Overview

Illinois Farm Business Farm Management Association is located in Urbana, IL. The organization was established in 1950. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2021, Illinois Farm Business Farm Management Association employed 256 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Farm Business Farm Management Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.

For the year ending 06/2021, Illinois Farm Business Farm Management Association generated $15.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 65.4% each year . All expenses for the organization totaled $13.4m during the year ending 06/2021. While expenses have increased by 61.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

FBFM IS RECOGNIZED AS THE LEADING RESOURCE FOR FINANCIAL AND BUSINESS CONSULTING SERVICES TO FARMERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TEACHING BUSINESS ANALYSIS AND ACCOUNTING SKILLS TO FARM OPERATORS.


TEACHING FARMERS PROPER FARM ACCOUNTING METHODS


TEACHING FARMERS HOW TO USE THEIR FARM RECORDS TO IMPROVE PROFITABILITY FOR THEIR FARM BUSINESSES


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Board, Officers & Key Employees

Name (title)Compensation
James Mccabe
VP Of Innovation
$251,812
Scott Newport
Regional VP
$173,058
Bob Rhea
CEO
$162,523
Dathel Davidson
Field Staff
$151,754
John Hudson
Field Staff
$146,283
Randy Sims
Director
$3,397

Outside Vendors & Contractors

Vendor Name (Service)Compensation
S&s Programming
Software Programming
$372,775
Iron Cloud
Server & Desktop Support
$161,016
View All Vendors

Financial Statements

Statement of Revenue
Total Revenue from Contributions, Gifts, Grants & Similar$5,629,933
Investment income $8,982
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$1,695
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $15,163,165

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