Mississippi Farm Bureau Young Farmer Scholarship Foundation Inc
- Assets
- $1.2m
- Revenue
- $67.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Jackson, MS
- Founding
- 12/1986
- Data as of
- 10/2023
- EIN
- 64-0732039
Organization Overview
Mississippi Farm Bureau Young Farmer Scholarship Foundation Inc is located in Jackson, MS. The organization was established in 1986. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mississippi Farm Bureau Young Farmer Scholarship Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 10/2023, Mississippi Farm Bureau Young Farmer Scholarship Foundation Inc generated $67.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.8%) each year. All expenses for the organization totaled $62.5k during the year ending 10/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Mississippi Farm Bureau Young Farmer Scholarship Foundation Inc has awarded 104 individual grants totaling $352,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE SCHOLARSHIPS TO STUDENTS STUDYING IN THE AGRICULTURE FIELDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Betty Jo Mills Director | 2 | $0 | |
Donald Gant Director | 2 | $0 | |
Jeff Easterling Director | 2 | $0 | |
Carl Davis Parker Director | 2 | $0 | |
Alex Mayfield Director | 2 | $0 | |
Ted Kendall IV Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $91,512 |
| Interest on Savings | $14,730 |
| Dividends & Interest | $14,074 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$53,054 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $67,262 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $10,476 |
| Total operating and administrative expenses | $10,476 |
| Contributions, gifts, grants paid | $52,000 |
| Total expenses and disbursements | $62,476 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,203,710 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $400 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,204,110 |
| Accounts payable and accrued expenses | $34,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $34,500 |
Grants Awarded
Over the last fiscal year, Mississippi Farm Bureau Young Farmer Scholarship Foundation Inc has awarded $52,000 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
ALCORN STATE UNIVERSITY PURPOSE: SCHOLARSHIP FOR 2 INDIVIDUALS | $3,000 |
DELTA STATE UNIVERSITY PURPOSE: SCHOLARSHIP FOR 1 INDIVIDUAL | $1,500 |
BELHAVEN UNIVERSITY PURPOSE: SCHOLARSHIP FOR 1 INDIVIDUAL | $500 |
EAST CENTRAL COMMUNITY COLLEGE PURPOSE: SCHOLARSHIP FOR 1 INDIVIDUAL | $1,500 |
HINDS COMMUNITY COLLEGE PURPOSE: SCHOLARSHIP FOR 4 INDIVIDUALS | $4,000 |
HOLMES COMMUNITY COLLEGE PURPOSE: SCHOLARSHIP FOR 1 INDIVIDUAL | $1,500 |