Franklin County Farm Bureau
- Assets
- $826.3k
- Revenue
- $108.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Rocky Mount, VA
- Founding
- 07/1957
- Data as of
- 12/2022
- EIN
- 54-0680730
Organization Overview
Franklin County Farm Bureau is located in Rocky Mount, VA. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Franklin 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, Franklin County Farm Bureau generated $108.1k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $103.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.2%) per year over the past 8 years. 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
AN ORGANIZATION OF PERSONS INTERESTED IN AGRICULTURE AND THE BETTERMENT OF AGRICULTURAL EDUCATION, ECONOMIC OPPORTUNITY AND SOCIAL ADVANCEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC AFFAIRS-WE PROVIDE INFORMATION TO MEMBERS REGARDING COMMON PROBLEMS AFFECTED BY LOCAL, STATE, AND FEDERAL LEGISLATION.
COMMODITIES-WORKING WITH SPECIALLY TRAINED VIRGINIA FARM BUREAU EMPLOYEES TO SOLVE PROBLEMS OF COMMODITY GROUPS WITHIN OUR MEMBERSHIP.
COMMUNICATIONS-DISTRIBUTION OF INFORMATION TO MEMBERS OF ORGANIZATION VIA NEWSLETTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Billy Kingery Treasurer | OfficerTrustee | 1.92 | $0 |
Tanya Young President | OfficerTrustee | 2.15 | $0 |
Jamie Montgomery Secretary | OfficerTrustee | 0.33 | $0 |
Jason Thurman Vice President | OfficerTrustee | 6.96 | $0 |
Debbie Brubaker Women's Committee Chair | Trustee | 11.22 | $0 |
Lynn Flora Director | Trustee | 2.48 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $102,960 |
| Investment income | $87 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,198 |
| Net Gain/Loss on Asset Sales | -$3,925 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $108,081 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $800 |
| Grants and other assistance to domestic individuals. | $500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,845 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $3,032 |
| Office expenses | $5,295 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,631 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $64 |
| Insurance | $552 |
| All other expenses | $34 |
| Total functional expenses | $103,062 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,627 |
| Savings and temporary cash investments | $525,762 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,220 |
| 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 | $0 |
| Net Land, buildings, and equipment | $242,648 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $826,257 |
| Accounts payable and accrued expenses | $500 |
| Grants payable | $0 |
| Deferred revenue | $32,098 |
| 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 | $32,598 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $793,659 |
| Total liabilities and net assets/fund balances | $826,257 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Assn Of State Dept Of Agriculture Arlington, VA | $11,534,503 | $27,147,679 |
Agricultural Retailers Association Arlington, VA | $7,161,238 | $3,721,691 |
National Agricultural Aviation Association Alexandria, VA | $4,837,263 | $3,074,884 |
Carolina Farm Stewardship Association Pittsboro, NC | $1,471,333 | $921,560 |
Kentucky Corn Growers Association Eastwood, KY | $10,650,965 | $3,755,391 |
National Grange Of The Patrons Of Husbandry Washington, DC | $2,950,053 | $1,535,497 |
National Association Of Wheat Growers Washington, DC | $1,141,115 | $1,489,629 |
North Carolina Farmworkers Project Inc Benson, NC | $510,721 | $1,216,468 |
North Carolina State Grange Statesville, NC | $23,258,233 | $1,556,538 |
Corn Growers Association Of North Carolina Inc Elizabethtown, NC | $2,684,449 | $1,670,852 |
American Association Of Crop Insurers Washington, DC | $761,223 | $894,089 |
Knox County Farm Bureau Knoxville, TN | $1,372,068 | $906,855 |