Maryland Ffa Foundation Incorporated

THE MD FFA FOUNDATION RAISES FUNDS TO SUPPORT THE STUDENT MEMBERS OF THE MD FFA ASSOCIATION. THE MD FFA ASSOCIATION HAS 54 LOCAL CHAPTERS LOCATED ACROSS THE STATE OF MARYLAND IN THE LOCAL PUBLIC SCHOOLS AT THE MIDDLE AND HIGH SCHOOL LEVEL, WHICH SERVES SOME 2,500 STUDENT MEMBERS. THE MD FFA FOUNDATION RAISES FUNDS TO SUPPORT FFA CAREER DEVELOPMENT EVENTS, LEADERSHIP RELATED CONFERENCES AND WORKSHOPS.

ANNUAL FUND-RAISING GRANTS TO MD FFA ASSOCIATION PROVIDES LEADERSHIP OPPORTUNITIES FOR OVER 2500 MD FFA ASSOCIATION STUDENT MEMBERS. THIS AMOUNT HELPS TO OFFSET THE COSTS OF AWARDS, PROGRAMS, AND STUDENT TRAVEL TO OUT OF STATE COMPETITIONS FOR THE FIRST AND SECOND PLACE TEAMS. THIS GRANT ALSO HELPS OFFSET THE COSTS OF THE MD FFA ASSOCIATION'S ANNUAL STATE CONVENTION FOR THE STUDENT FFA MEMBERS. MANY COMPETITIVE EVENTS RELATED TO AGRICULTURAL CAREER DEVELOPMENT ARE ALSO HELD WHERE THE STUDENTS RECEIVE AWARD PINS OR PLAQUES FOR THEIR PLACING IN THE EVENT(S) WITH PHOTOS SUITABLE FOR PUBLICATION USE IN LOCAL OR SOCIAL MEDIA OUTLETS. THE MD FFA FOUNDATION ALSO PROVIDES FUNDS FOR 100 NEEDY FFA MEMBERS WHO CANNOT AFFORD THE OFFICIAL DRESS OF THE STUDENT ORGANIZATION. ONE HUNDRED JACKETS, TIES/SCARFS ARE PROVIDED. FUNDS ALSO SUPPORT THE COST OF STATE FFA OFFICERS TRAVEL FOR LOCAL CHAPTER VISITS WHERE THEY PROVIDE A LEADERSHIP WORKSHOP ACTIVITY, BRING GREETINGS, OR A KEYNOTE ADDRESS AT A LOCAL FFA CHAPTER FUNCTION. REVENUE TO SUPPORT THIS ACTIVITY IS FROM OUR DONOR CONTRIBUTIONS TO OUR FUND-RAISING EFFORTS. EXPENSES INCLUDE TRAVEL, OFFICER WORKSHOP SUPPLIES, FEES PAID ON THE MANAGEMENT OF INVESTMENT FUNDS.

THIS ACTIVITY IS SUPPORTED BY A GRANT FROM OUR JOSEPH BYRD DAMASCUS FFA ACCOUNT THROUGH AN ANNUAL DONATION MANAGED BY THE COMMUNITY FOUNDATION OF FREDERICK COUNTY, MD AS A TARGETED GRANT TO A LOCAL FFA CHAPTER IN MONTGOMERY COUNTY, MD. MR. JOSEPH BYRD'S WILL INDICATES THAT PROCEEDS FROM HIS FUND SUPPORT THE CLOSEST FFA CHAPTER TO POOLESVILLE, MD WHICH IS CURRENTLY THE DAMASCUS, MD FFA CHAPTER. THE REVENUE OF $ 34707.70 WILL BE TRANSFERRED TO A SEPARATE CHECKING ACCOUNT WHICH WE MANAGE FOR THE LOCAL CHAPTER. THE CHAPTER ADVISOR REQUESTS FUNDS FROM THIS ACCOUNT TO PAY FOR STUDENT REGISTRATIONS AND TRAVEL TO STATE AND/OR OUT OF STATE EVENTS. THIS FUND ALSO SUPPORTS THE CLASSROOM EXPENSES FOR SUPPLIES OR TECHNOLOGY THAT THE PROGRAM MIGHT NEED. FUNDS MAY ALSO BE USED FOR ADVISOR/TEACHER TRAVEL AND TRAINING. THE LOCAL CHAPTER ADVISOR DOES NOT HAVE SIGNATURE POWER ON THIS CHECKING ACCOUNT. EXPENSES INCLUDE CHAPTER PURCHASES OR REGISTRATIONS, BANKING AND INVESTMENT MANAGEMENT FEES ON AN INVESTMENT ACCOUNT HELD AND CONTROLLED BY THE MD FFA FOUNDATION.

SEVEN SCHOLARSHIPS OF $1,000 EACH WERE GRANTED TO OTHER EDUCATIONAL INSTITUTIONS/ORGANIZATIONS TO SUPPORT POST-SECONDARY EDUCATION OF STUDENT FFA MEMBERS WHO APPLIED FOR A SCHOLARSHIP THROUGH OUR WILEY AND CARRIE GRIFFITH INVESTMENT FUND. ONE RETURNED SCHOLARSHIP AMOUNT OF $500 FROM CY2021 WAS ALSO ISSUED TO A POST SECONDARY SCHOOL. REVENUE IS BASED ON THE INCREASE IN VALUE OF THE INVESTMENT ACCOUNT SUPPORTING THE SCHOLARSHIPS AND TARGETED DONATIONS RECEIVED. EXPENSES ARE FROM THE MANAGEMENT FEES PAID ON THAT SAME INVESTMENT ACCOUNT. A NET VALUE DECREASE OF $ 25,465.11 IS NOTED ON THIS INVESTMENT ACCOUNT AND IS INCLUDED IN THE INVESTMENT VALUE LOSSES IN PART IX: RECONCILIATION OF NET ASSETS IN CY2022. EXPENSES INDICATE THE INVESTMENT MANAGEMENT FEES CHARGED TO THIS ACCOUNT.