Farm Bureau Federation Mississippi
- Assets
- $25.9m
- Revenue
- $15.5m
- Investments
- $5.9m
- Employees
- 44
- Location
- Jackson, MS
- Founding
- 03/1960
- Data as of
- 10/2022
- EIN
- 64-0303134
Organization Overview
Farm Bureau Federation Mississippi is located in Jackson, MS. The organization was established in 1960. 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 10/2022, Farm Bureau Federation Mississippi employed 44 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Farm Bureau Federation Mississippi is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 10/2022, Farm Bureau Federation Mississippi generated $15.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $13.4m during the year ending 10/2022. While expenses have increased by 7.8% per year over the past 6 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
TO CREATE ENVIRONMENT IN WHICH MS FARMERS & RANCHERS CAN HAVE A BETTER LIFE & MAKE A BETTER LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION:THE FEDERATION HOLDS ANNUAL COMMODITY EDUCATION EVENTS FOR FARM BUREAU ACTIVE FARMING MEMBERS. NUMEROUS SPEAKERS SHARE THEIR KNOWLEDGE ON ISSUES RELATED TO COMMODITIES AND LEGISLATION. THE FEDERATION REGIONAL MANAGERS WORK WITH 82 COUNTY FARM BUREAUS AND THEIR VOLUNTEER LEADERS AROUND THE STATE TO IMPLEMENT PROGRAMS THAT BENEFIT THEIR MEMBERSHIP'SAGRICULTURAL INTEREST. STAFF AND ACTIVE FARMING MEMBERS ALSO ATTEND A NATIONAL CONFERENCE TO GAIN KNOWLEDGE OF BEST AGRICULTURAL PRACTICES. THE FEDERATION PARTNERS WITH AGRICULTURAL RELATED ADVISORY ORGANIZATIONS FOR RESEARCH ASSISTANCE. SCHOLARSHIPS ARE PRESENTED EACH YEAR TO FARM BUREAU MEMBER STUDENTS STUDYING IN AN AGRICULTURAL AREA.
SAFETY PROGRAMS:THE FEDERATION SAFETY PROGRAMS ARE PRESENTED TO PROVIDE INFORMATION TO HELP SAVE LIVES AND PREVENT INJURIES. EXAMPLES OF PROGRAMS INCLUDE GRAIN BIN SAFETY, ON-SITE TRACTOR AND FARM SAFETY, ATV SAFETY, FIRE SAFETY, FIRST AID AND HOME SAFETY, AND TEXTING AND DRIVING.
YOUNG FARMER PROGRAM:THE OBJECTIVE OF THE YOUNG FARMERS & RANCHERS PROGRAM IS TO PROVIDE LEADERSHIP IN BUILDING A MORE EFFECTIVE FARM BUREAU TO PRESERVE INDIVIDUAL FREEDOMS AND EXPAND OPPORTUNITIES IN AGRICULTURE. THE FEDERATION HOSTS STATE AND NATIONAL PROGRAMS TO PROMOTE LEADERSHIP SKILLS FOR FARMERS BETWEEN THE AGES OF 18 TO 35. THE FEDERATION ALSO PROVIDES ACTIVITIES AND COMPETITIONS THAT RECOGNIZE YOUNG LEADERS IN AGRICULTURAL. THE FEDERATION RECOGNIZES AND AWARDS INDIVIDUAL CONTESTANT WINNERS TO HELP THEM FURTHER THEIR AGRICULTURE OPERATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
D Mike Mccormick President | OfficerTrustee | 40 | $183,416 |
Kent M Bloodworth Secretary | OfficerTrustee | 40 | $171,881 |
Brent E Wilson Treasurer | OfficerTrustee | 40 | $160,726 |
Donald Gant Vice President | OfficerTrustee | 5 | $5,200 |
Ted Kendall IV Vice President | OfficerTrustee | 5 | $5,200 |
Betty Mills Director | Trustee | 2 | $4,800 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,454,894 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $56,157 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,511,051 |
| Total Program Service Revenue | $0 |
| Investment income | $292,157 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,199,300 |
| Net Rental Income | $2,057,177 |
| Net Gain/Loss on Asset Sales | $98,281 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,031 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,464,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $57,678 |
| 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. | $528,008 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,195,313 |
| Pension plan accruals and contributions | $712,998 |
| Other employee benefits | $602,670 |
| Payroll taxes | $231,408 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,679 |
| Fees for services: Accounting | $123,733 |
| Fees for services: Lobbying | $160,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $24,413 |
| Fees for services: Other | $18,359 |
| Advertising and promotion | $518,208 |
| Office expenses | $449,060 |
| Information technology | $198,385 |
| Royalties | $0 |
| Occupancy | $1,194,045 |
| Travel | $387,555 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,446,899 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,192,050 |
| Insurance | $358,896 |
| All other expenses | $0 |
| Total functional expenses | $13,417,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,986,193 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $510,386 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $408,327 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $243,489 |
| Net Land, buildings, and equipment | $16,910,235 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $5,876,734 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,935,364 |
| Accounts payable and accrued expenses | $1,202,684 |
| Grants payable | $0 |
| Deferred revenue | $60,200 |
| 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 | $5,548,699 |
| Total liabilities | $6,811,583 |
| Net assets without donor restrictions | $19,123,781 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $25,935,364 |
Grants Awarded
Over the last fiscal year, Farm Bureau Federation Mississippi has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Jackson, MS PURPOSE: TO FURTHER THE MISSION OF THE MFB FEDERATION | $30,000 |
Mississippi State, MS PURPOSE: TO FURTHER THE MISSION OF THE MFB FEDERATION | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Farm Bureau Federation Mississippi has recieved totaling $50,000.
| Awarding Organization | Amount |
|---|---|
Mississippi Farm Bureau Foundation & Relief Fund Inc Jackson, MS PURPOSE: TO FURTHER THE MISSION OF THE MISSISSIPPI FARM BUREAU FOUNDATION AND RELIEF FUND. | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Arkansas Farm Bureau Federation Little Rock, AR | $66,846,371 | $16,311,552 |
Farm Bureau Federation Mississippi Jackson, MS | $25,935,364 | $15,464,290 |
Montgomery Academy Inc Montgomery, AL | $22,347,255 | $11,005,286 |
Tennessee Farm Bureau Federation Columbia, TN | $127,985,651 | $12,173,337 |
Southern United States Trade Association Susta New Orleans, LA | $3,093,143 | $7,251,421 |
Louisiana Farm Bureau Federation Inc Baton Rouge, LA | $75,119,133 | $8,594,309 |
Louisiana Quarter Horse Breeders Association Alexandria, LA | $10,986,998 | $7,601,612 |
Agricenter International Inc Memphis, TN | $11,833,861 | $6,132,848 |
Bayou Sugar Growers Inc Carencro, LA | $1,179 | $4,490,376 |
United Food And Commercial Workers International Union Hermitage, TN | $1,044,868 | $3,906,250 |
Pearl River Central Water Asso Mcneill, MS | $11,980,127 | $2,091,662 |
United Food And Commercial Workers International Union Little Rock, AR | $1,208,420 | $1,631,344 |