Producers Livestock Credit Assoc
- Assets
- $13.6m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Columbus, OH
- Founding
- 01/1950
- Data as of
- 12/2021
- EIN
- 31-4440318
Organization Overview
Producers Livestock Credit Assoc is located in Columbus, OH. The organization was established in 1950. 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. Producers Livestock Credit Assoc is a 501(c)(16) and as such, is described as a "Cooperative Organization to Finance Crop Operations" by the IRS.
For the year ending 12/2021, Producers Livestock Credit Assoc generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $1.6m during the year ending 12/2021. While expenses have increased by 1.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
EXEMPT ORGANIZATION TO FINANCE THE LIVESTOCK OPERATIONS OF MEMBERS OF AN EXEMPT SECTION 521 AGRICULTURAL COOPERATIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOANS TO MEMBERS TO FINANCE PRINCIPALLY LIVESTOCK PURCHASES, FARM REAL ESTATE, FARM MACHINERY AND EQUIPMENT, AND FARM OPERATING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Siegel VP Credit Services | Officer | 40 | $212,786 |
John King Employee | 40 | $119,872 | |
Brian Fracker Employee | 40 | $107,188 | |
Brad Warner VP Finance & Acctg | Officer | 3 | $0 |
Michael Bumgarner President & CEO | Officer | 6 | $0 |
Tim Ruggles Director | Trustee | 1 | $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 | $3,425,248 |
| Investment income | $38,477 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,463,725 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $494,796 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $357,228 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,308 |
| Payroll taxes | $65,911 |
| 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 | $3,906 |
| Advertising and promotion | $10,832 |
| Office expenses | $5,368 |
| Information technology | $92,940 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $17,688 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,309 |
| Interest | $15,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,730 |
| Insurance | $46,984 |
| All other expenses | $23,754 |
| Total functional expenses | $1,550,366 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,057,258 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,145,987 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,566,445 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $44,443 |
| Net Land, buildings, and equipment | $21,468 |
| Investments—publicly traded securities | $13,139 |
| Investments—other securities | $0 |
| Investments—program-related | $692,314 |
| Intangible assets | $0 |
| Other assets | $77,237 |
| Total assets | $13,618,291 |
| Accounts payable and accrued expenses | $1,894,993 |
| 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 | $0 |
| Total liabilities | $1,894,993 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,717,440 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $9,005,858 |
| Total liabilities and net assets/fund balances | $13,618,291 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Allegan County Agricultural Society Allegan, MI | $6,554,669 | $2,889,339 |
Ohio Ecological Food And Farm Association Certification Columbus, OH | $723,448 | $1,998,099 |
Kentucky Corn Growers Association Eastwood, KY | $10,650,965 | $3,755,391 |
Producers Livestock Credit Assoc Columbus, OH | $13,618,291 | $3,463,725 |
Shiawassee County Agricultural Society Fairgrounds Corunna, MI | $378,234 | $1,529,003 |
Ohio Corn & Wheat Growers Assoc Delaware, OH | $2,239,785 | $1,312,659 |
Lapeer County Agricultural Society Imlay City, MI | $2,905,187 | $1,396,665 |
Saginaw County Agricultural Society Chesaning, MI | $2,433,080 | $855,880 |
Grange Acres Non Profit Housing Corporation Lansing, MI | $4,437,126 | $588,851 |
Pennsylvania Farm Bureau Camp Hill, PA | $1,861,154 | $698,058 |
Giving Tree Farm Inc Lansing, MI | $813,307 | $688,798 |
Association Of Specialty Cut Flower Growers Inc Oberlin, OH | $784,613 | $698,418 |