Lake County Farm Bureau Inc
- Assets
- $4.0m
- Revenue
- $614.9k
- Investments
- $2.1m
- Employees
- 3
- Location
- Grayslake, IL
- Founding
- 05/1926
- Data as of
- 07/2024
- EIN
- 36-2178039
Organization Overview
Lake County Farm Bureau Inc is located in Grayslake, IL. The organization was established in 1926. 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. As of 07/2024, Lake County Farm Bureau Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake 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 07/2024, Lake County Farm Bureau Inc generated $614.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $591.5k during the year ending 07/2024. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
MAINTAIN AN ORGANIZATION THROUGH WHICH RURAL AND URBAN PEOPLE CAN THINK, ACT AND WORK TOGETHER TO STRENGTHEN AGRICULTURE'S ROLE AND INFLUENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE SEND OUT A PUBLICATION TO OUR MEMBERSHIP EVERY OTHER MONTH TO KEEP THEM INFORMED OF UPCOMING EVENTS, ETC. THIS PUBLICATION IS SENT TO ALL APPROXIMATELY 9,602 MEMBERS AND INCLUDES INFORMATION ABOUT UPCOMING EVENTS AND MEMBERSHIP BENEFITS.
WE ACTIVELY PARTICIPATE IN AG IN THE CLASSROOM EVENTS AROUND THE COUNTY EXPOSING TEACHERS AND STUDENTS TO AGRICULTURE. WE HAVE BEEN IN OVER 350 CLASSROOMS AND REACHED OVER 9,000 STUDENTS AS THE PROGRAM CONTINUES TO GROW.
WE HOLD ANNUAL SEMINARS AND EVENTS FOR OUR MEMBERS TO HELP EDUCATE THEM. THESE INCLUDE SEMINARS ON ESTATE PLANNING AND WILLS, TRIPS TO AGRICULTURAL STOPS IN THE AREA AND OUT OF STATE TRIPS FOR MEMBERS TO LEARN ABOUT AGRICULTURE AND HAVE FUN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Doolittle President | OfficerTrustee | 1 | $4,400 |
Duane Beelow Vice-President | OfficerTrustee | 1 | $700 |
Rodney Buss Secretary | OfficerTrustee | 1 | $800 |
Peter Tekampe Treasurer | OfficerTrustee | 1 | $900 |
William Mcneill Director | Trustee | 1 | $2,600 |
Donald Tekampe Director | Trustee | 1 | $900 |
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 | $7,683 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,683 |
| Total Program Service Revenue | $98,119 |
| Investment income | $124,988 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $203,249 |
| Net Rental Income | $69,791 |
| Net Gain/Loss on Asset Sales | $6,910 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $614,898 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,500 |
| 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. | $130,539 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,399 |
| Pension plan accruals and contributions | $16,402 |
| Other employee benefits | $9,946 |
| Payroll taxes | $8,987 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,803 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $10,616 |
| Information technology | $9,129 |
| Royalties | $0 |
| Occupancy | $2,510 |
| Travel | $7,965 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,336 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,770 |
| Insurance | $8,251 |
| All other expenses | $30,188 |
| Total functional expenses | $591,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $96,453 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,445 |
| 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 | $8,826 |
| Net Land, buildings, and equipment | $739,765 |
| Investments—publicly traded securities | $984,536 |
| Investments—other securities | $2,114,580 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,973,605 |
| Accounts payable and accrued expenses | $126,879 |
| 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 | $226,612 |
| Total liabilities | $353,491 |
| Net assets without donor restrictions | $3,620,114 |
| 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 | $3,973,605 |