Iowa Farm Bureau Federation
- Assets
- $1.2m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 1
- Location
- Grundy Center, IA
- Founding
- 05/1957
- Data as of
- 12/2022
- EIN
- 42-0680715
Organization Overview
Iowa Farm Bureau Federation, operating under the name Grundy County Farm Bureau, is located in Grundy Center, IA. The organization was established in 1957. According to its NTEE Classification (K28) the organization is classified as: Farm Bureaus & Granges, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Grundy County Farm Bureau is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2022, Grundy County Farm Bureau generated $1.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 69.7% each year . All expenses for the organization totaled $128.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A VIBRANT FUTURE FOR AGRICULTURE, FARM FAMILIES THEIR COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC RELATIONS/COUNTY PROMOTIONAL EVENTS GRUNDY COUNTY FARM BUREAU HOSTED A CELEBRATION OF AG IN MARCH TO KICK-OFF AG WEEK. THE EVENT WAS HELD AT A LOCAL VENUE AND PARTIALLY FUNDED BY SPONSORSHIPS FROM AREA, MOSTLY AG RELATED BUSINESSES. THERE WERE THREE LEVELS OF SPONSORSHIPS BLUE RIBBON, RESERVE GRAND CHAMPION AND GRAND CHAMPION. A SPONSORSHIP ENTITLED THE BUSINESS TO 8 TICKETS TO THE EVENT TO SHARE WITH EMPLOYEES OR CLIENTS. THE EVENT INCLUDED A CATERED MEAL AND ENTERTAINMENT, IN 2022-THE FUNNIEST FARMER IN AMERICA. THERE WERE CLOSE TO 300 PEOPLE IN ATTENDANCE. AT THE COUNTY FAIR IN JULY, GCFB SERVED PULLED PORK SANDWICHES WITH CHIPS AND WATER TO 400 PEOPLE. IN DECEMBER, THE BOARD DONATED 1,500 IN BEEF CERTIFICATES, EGGS, DAIRY PRODUCTS, AND OTHER FOOD TO OPERATION THRESHOLD - A LOCAL FOOD PANTRY. ALONG WITH THE FOOD ITEMS, RECIPES AND NUTRITION FACTS WERE PROVIDED. THE PROMOTION WAS ADVERTISED TO LOCAL MEDIA AND SOCIAL MEDIA. POSTERS ABOUT THE BENEFITS OF REAL MEAT WERE POSTED AT GROCERY STORES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Rickelman President | OfficerTrustee | 1.5 | $0 |
Bill Noteboom Vice President | OfficerTrustee | 1.5 | $0 |
Matt Simms Secretary | OfficerTrustee | 1.5 | $0 |
Whitney Heinrich Treasurer | OfficerTrustee | 1.5 | $0 |
Jon Freese Voting Delegate | OfficerTrustee | 1.5 | $0 |
Jr Kennedy Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,002,203 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,225 |
| Noncash contributions included in lines 1a–1f | $995,176 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,010,428 |
| Total Program Service Revenue | $60,400 |
| Investment income | $30,444 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $18,912 |
| Net Rental Income | $15,701 |
| Net Gain/Loss on Asset Sales | $137 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,138,601 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,750 |
| Grants and other assistance to domestic individuals. | $2,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $16,836 |
| Compensation of current officers, directors, key employees. | $400 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,579 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $127 |
| Payroll taxes | $2,175 |
| Fees for services: Management | $1,510 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,418 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,708 |
| Office expenses | $6,027 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,300 |
| Travel | $177 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,675 |
| Interest | $0 |
| Payments to affiliates | $33,220 |
| Depreciation, depletion, and amortization | $2,331 |
| Insurance | $2,014 |
| All other expenses | $0 |
| Total functional expenses | $128,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $72,718 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,489 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,381 |
| Net Land, buildings, and equipment | $33,351 |
| Investments—publicly traded securities | $131,145 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $995,176 |
| Total assets | $1,235,260 |
| Accounts payable and accrued expenses | $5,552 |
| Grants payable | $0 |
| Deferred revenue | $1,800 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $7,352 |
| Net assets without donor restrictions | $232,732 |
| Net assets with donor restrictions | $995,176 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,235,260 |