Madison County Farm Bureau Inc
- Assets
- $562.6k
- Revenue
- $53.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Madison, VA
- Founding
- 04/1966
- Data as of
- 12/2022
- EIN
- 54-0714861
Organization Overview
Madison County Farm Bureau Inc is located in Madison, VA. The organization was established in 1966. 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. Madison County Farm Bureau Inc 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, Madison County Farm Bureau Inc generated $53.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $47.6k during the year ending 12/2022. While expenses have increased by 2.1% per year over the past 8 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.
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 COMMON PROBLEMS OF COMMODITY GROUPS WITHIN OUR MEMBERSHIP.
COMMUNICATIONS-DISTRIBUTION OF INFORMATION TO MEMBERS OF THE ORGANIZATION VIA NEWSLETTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Lucky Graves President | OfficerTrustee | 1.5 | $0 |
Robert Clay Jackson Vice President/treasurer | OfficerTrustee | 0.73 | $0 |
Darlene Coppedge Secretary | OfficerTrustee | 0.15 | $0 |
Justin Crigler Director | Trustee | 0.3 | $0 |
Donald Wayne Tatum Former President | Trustee | 1.58 | $0 |
Chad Smith Director | Trustee | 0.3 | $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 | $35,437 |
| Investment income | $1,798 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $16,844 |
| Net Gain/Loss on Asset Sales | -$295 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,784 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,166 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $682 |
| 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 | $1,662 |
| Office expenses | $1,369 |
| 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 | $15,006 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $784 |
| All other expenses | $224 |
| Total functional expenses | $47,554 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $28,361 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,280 |
| 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 | $467,827 |
| Investments—publicly traded securities | $65,113 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $562,581 |
| Accounts payable and accrued expenses | $292 |
| Grants payable | $0 |
| Deferred revenue | $10,872 |
| 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 | $214,271 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $225,435 |
| 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 | -$6,605 |
| Total liabilities and net assets/fund balances | $562,581 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Crop Insurance And Reinsurance Bureau Inc Washington, DC | $1,877,266 | $941,636 |