Logan County Farm Bureau
- Assets
- $180.5k
- Revenue
- $192.8k
- Investments
- $71.0k
- Employees
- 3
- Location
- Lincoln, IL
- Founding
- 01/1965
- Data as of
- 06/2023
- EIN
- 37-0667483
Organization Overview
Logan County Farm Bureau is located in Lincoln, IL. The organization was established in 1965. 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 06/2023, Logan County Farm Bureau employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Logan County Farm Bureau is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2023, Logan County Farm Bureau generated $192.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $211.8k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE DEVELOPMENT OF A PERMANENT AND PROFITABLE SYSTEM OF AGRICULTURE, TO GIVE UNITED CONSIDERATION TO QUESTIONS AFFECTING THE ECONOMIC, EDUCATIONAL AND SOCIAL RURAL INTERESTS OF LOGAN COUNTY AND TO SECURE COOPERATIVE ACTION IN ADVANCING THE COMMON INTERESTS OF OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER SERVICES - WE PROVIDE A VARIETY OF SERVICES TO OUR MEMBERS SUCH AS DISCOUNTS ON PRODUCTS AND SERVICES THROUGH VARIOUS BUSINESSES.
EDUCATION - WE WORK WITH AREA SCHOOLS TO PROVIDE AGRICULTURAL EDUCATION MATERIALS TO STUDENTS. EACH YEAR WE SPONSOR AN AG EDUCATION DAY FOR ALL 4TH GRADERS. STUDENTS SPEND THE DAY LEARNING ABOUT CORN, SOYBEANS, DAIRY, EQUIPMENT AND LIVESTOCK. THE OBJECTIVE OF THIS PROGRAM IS TO EDUCATE STUDENTS TO BETTER UNDERSTAND WHERE THEIR FOOD COMES FROM.
MARKETING - EACH YEAR WE PROVIDE MARKETING OUTLOOK MEETINGS FOR OUR MEMBERS. DIFFERENT COMMODITY COMPANIES SERVE ON A PANEL WITH A UNIVERSITY OF ILLINOIS INDIVIDUAL ACTING AS A MODERATOR. MEMBERS ARE ABLE TO HEAR DIFFERENT OPINIONS ON THE FUTURE COMMODITY OUTLOOK AND ASK QUESTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Drew Manager | OfficerTrustee | 40 | $62,966 |
William Armbruster Director | Trustee | 1 | $0 |
Nathan Sasse Director | Trustee | 1 | $0 |
Blair Hoerbert Vice President | OfficerTrustee | 1 | $0 |
Ron Kindred Director | OfficerTrustee | 1 | $0 |
Larry Martin 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 | $26,396 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,396 |
| Total Program Service Revenue | $48,121 |
| Investment income | $54,756 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $32,136 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,610 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $192,840 |
| 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. | $62,966 |
| Compensation of current officers, directors, key employees. | $25,186 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,388 |
| Pension plan accruals and contributions | $21,208 |
| Other employee benefits | $34,315 |
| Payroll taxes | $7,476 |
| Fees for services: Management | $10,938 |
| 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 | $0 |
| Advertising and promotion | $1,549 |
| Office expenses | $2,897 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $8,551 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,048 |
| Interest | $0 |
| Payments to affiliates | $4,854 |
| Depreciation, depletion, and amortization | $2,403 |
| Insurance | $4,811 |
| All other expenses | $3,311 |
| Total functional expenses | $211,799 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,689 |
| Savings and temporary cash investments | $28,590 |
| Pledges and grants receivable | $8,632 |
| Accounts receivable, net | $4,825 |
| 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 | $2,093 |
| Net Land, buildings, and equipment | $43,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $70,974 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $180,490 |
| Accounts payable and accrued expenses | $25,698 |
| Grants payable | $0 |
| Deferred revenue | $14,875 |
| 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 | $40,573 |
| Net assets without donor restrictions | $139,525 |
| Net assets with donor restrictions | $392 |
| 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 | $180,490 |