Montgomery County Farm Bureau Inc
- Assets
- $867.1k
- Revenue
- $62.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Damascus, MD
- Founding
- 07/1972
- Data as of
- 06/2022
- EIN
- 52-0612186
Organization Overview
Montgomery County Farm Bureau Inc is located in Damascus, MD. The organization was established in 1972. 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. Montgomery 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 06/2022, Montgomery County Farm Bureau Inc generated $62.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.8%) each year. All expenses for the organization totaled $38.3k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AGRICULTURE IN MONTGOMERY COUNTY, MD., EDUCATE STUDENTS, REPRESENT THE COUNTY IN NATIONAL ORGANIZATION, ATTEND CONVENTIONS, AND AGRICULTURE GROUP ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP SUPPORT FOR POSTSECONDARY EDUCATION OF AGRICULTURAL STUDENTS.
PROVIDE AGRICULTURAL EDUCATION FOR ELEMENTARY SCHOOL AGE CHILDREN.
OTHER SUPPORT OF AGRICULTURAL INITIATIVES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Smith Secretary | Officer | 0 | $5,920 |
Nancy Warfield Treasurer | Officer | 2 | $575 |
Lonnie Luther President | OfficerTrustee | 2 | $0 |
Todd Greenstone Vice President | OfficerTrustee | 2 | $0 |
Eric Spates Vice President | OfficerTrustee | 2 | $0 |
Putt Willett Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $16,695 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,205 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $24,900 |
| Total Program Service Revenue | $0 |
| Investment income | $30,504 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,438 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,842 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $9,500 |
| Grants and other assistance to domestic individuals. | $10,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,495 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,595 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $590 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $167 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,891 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,646 |
| All other expenses | $121 |
| Total functional expenses | $38,271 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $52,791 |
| Savings and temporary cash investments | $24,051 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $790,264 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $867,106 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $3,000 |
| 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 | $3,000 |
| Net assets without donor restrictions | $864,106 |
| 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 | $867,106 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montgomery County Farm Bureau Inc has recieved totaling $7,380.
| Awarding Organization | Amount |
|---|---|
Maryland Farm Bureau Inc Davidsonville, MD PURPOSE: PROMOTE AGRICULTURAL LEADERSHIP | $7,380 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Agricultural Retailers Association Arlington, VA | $7,161,238 | $3,721,691 |
National Agricultural Aviation Association Alexandria, VA | $4,837,263 | $3,074,884 |
National Grange Of The Patrons Of Husbandry Washington, DC | $2,950,053 | $1,535,497 |
National Association Of Wheat Growers Washington, DC | $1,141,115 | $1,489,629 |
American Association Of Crop Insurers Washington, DC | $761,223 | $894,089 |
Crop Insurance And Reinsurance Bureau Inc Washington, DC | $1,877,266 | $941,636 |
Pennsylvania Farm Bureau Camp Hill, PA | $1,861,154 | $698,058 |
Apple Ridge Farm Incorporated Roanoke, VA | $1,973,574 | $637,614 |
Delaware State Farm Bureau Inc Camden, DE | $6,091,840 | $803,388 |
Preston County Livestock Assoc Kingwood, WV | $185,095 | $435,155 |
Pennsylvania State Grange Of Patrons Of Husbandry Hookstown, PA | $991,392 | $386,175 |
Pennsylvania State Grange Of Patrons Of Husbandry Lemoyne, PA | $5,583,765 | $309,105 |