South Carolina Farm Bureau Federation
- Assets
- $51.9m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 35
- Location
- Columbia, SC
- Founding
- 01/1973
- Data as of
- 07/2021
- EIN
- 57-0473090
Organization Overview
South Carolina Farm Bureau Federation is located in Columbia, SC. The organization was established in 1973. 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 07/2021, South Carolina Farm Bureau Federation employed 35 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. South Carolina Farm Bureau Federation is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 07/2021, South Carolina Farm Bureau Federation generated $8.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $5.1m during the year ending 07/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE VARIOUS SERVICES TO ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
VARIOUS EXPENSES INCURRED IN PROVIDING SERVICES TO MEMBERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry Ott President | OfficerTrustee | 40 | $207,358 |
Gary Spires Division Director | 40 | $173,721 | |
Larry Mckenzie Division Director | 40 | $158,284 | |
Eric Seymour Chief Financial Officer | Officer | 40 | $118,783 |
Chris Stevens Board Member | Trustee | 0.3 | $7,860 |
Dale Wilson Board Member | Trustee | 0.3 | $1,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,416,280 |
| Investment income | $722,458 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $229,037 |
| Net Gain/Loss on Asset Sales | $1,173,922 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,239,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $349,405 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,831,130 |
| Pension plan accruals and contributions | $92,979 |
| Other employee benefits | $0 |
| Payroll taxes | $160,983 |
| 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 | $373,824 |
| Advertising and promotion | $0 |
| Office expenses | $64,833 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $182,524 |
| Travel | $91,815 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $612,462 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $228,220 |
| Insurance | $376,670 |
| All other expenses | $0 |
| Total functional expenses | $5,123,074 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,010,775 |
| Savings and temporary cash investments | $998,436 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $203,707 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $999,716 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $93,176 |
| Investments—publicly traded securities | $35,169,961 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,462,813 |
| Total assets | $51,878,681 |
| Accounts payable and accrued expenses | $1,173,752 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $5,807,610 |
| Total liabilities | $6,981,362 |
| 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 |
| Total liabilities and net assets/fund balances | $44,897,319 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North Carolina Farm Bureau Federation Inc Raleigh, NC | $43,526,522 | $15,980,144 |
Georgia Farm Bureau Federation Macon, GA | $39,904,441 | $13,619,773 |
South Carolina Farm Bureau Federation Columbia, SC | $51,878,681 | $8,239,194 |
Southeast Produce Council Millen, GA | $7,110,033 | $5,998,694 |
American Dairy Goat Association Spindale, NC | $1,569,647 | $2,322,313 |
Bucksport Water System Inc Conway, SC | $17,896,855 | $3,096,455 |
Boll Weevil Eradication Foundation Of Georgia Inc Tifton, GA | $5,087,795 | $1,811,217 |
North Carolina Pork Council Raleigh, NC | $4,219,052 | $2,248,246 |
Nc Sweet Potato Commission Inc Benson, NC | $4,117,060 | $3,634,489 |
Wnc Communities Asheville, NC | $3,319,263 | $1,564,474 |
Koinonia Farm Americus, GA | $1,152,074 | $993,655 |
Minorities In Agriculture Natural Resources & Related Sci Atlanta, GA | $2,906,308 | $1,954,738 |