Virginia Farm Bureau Federation Inc
- Assets
- $58.4m
- Revenue
- $13.1m
- Investments
- $139.3k
- Employees
- 162
- Location
- Richmond, VA
- Founding
- 12/1944
- Data as of
- 12/2023
- EIN
- 54-0419002
Organization Overview
Virginia Farm Bureau Federation Inc is located in Richmond, VA. The organization was established in 1944. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2023, Virginia Farm Bureau Federation Inc employed 162 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Virginia Farm Bureau Federation 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 12/2023, Virginia Farm Bureau Federation Inc generated $13.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $11.7m during the year ending 12/2023. While expenses have increased by 3.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCING THE AGRICULTURAL INTERESTS OF MEMBERS THROUGH ECONOMIC, POLITICAL & SOCIAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A MAGAZINE FOR PRODUCER MEMBERS, FARM BUREAU NEWS, IS PUBLISHED FOUR TIMES A YEAR. A MAGAZINE FOR ASSOCIATE MEMBERS, CULTIVATE, IS PUBLISHED FOUR TIMES A YEAR. THE PURPOSE OF THE FARM BUREAU NEWS IS TO KEEP PRODUCER MEMBERS (FARMERS) ABREAST AND AWARE OF AGRICULTURAL ISSUES AND PROVIDE THEM WITH EDUCATIONAL MATERIALS. THE PURPOSE OF CULTIVATE IS TO PROMOTE THE IMPORTANCE OF AGRICULTURE TO OUR ASSOCIATE (NON-FARMER) MEMBERS. A WEEKLY TELEVISION PROGRAM PRODUCED BY VIRGINIA FARM BUREAU, REAL VIRGINIA, IAIRS WEEKLY ON 40 LOCAL ACCESS, GOVERNMENT ACCESS, PUBLIC TELEVISION AND NETWORK AFFILIATE STATIONS, AND ON RFD-TV AND THE DISH AND DIRECTV SATELLITE NETWORKS. THE PURPOSE IS TO PROMOTE THE IMPORTANCE OF AGRICULTURE.
PROMOTIONAL SUPPORT IS PROVIDED TO COUNTY FARM BUREAUS THROUGH THE COUNTY NEWSLETTER PROGRAM, AS WELL AS THE DESIGN AND WRITING OF BROCHURES, PRINT ADS AND RADIO ADS. THE FEDERATION ALSO PROVIDES MEDIA RELATIONS TRAINING AND SUPPORT TO COUNTY FARM BUREAUS.
A SPECIALLY TRAINED STAFF PROMOTES THE ORGANIZATION'S INTERESTS IN THE STATE AND FEDERAL LEGISLATIVE PROCESS THROUGH MEDIA RELATIONS AND PROMOTIONAL TECHNIQUES SUCH AS WEB SITES AND PUBLIC RELATIONS EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne F Pryor President | OfficerTrustee | 40 | $387,049 |
Scott E Sink Vice President | OfficerTrustee | 2 | $25,185 |
Gary D Cross Director | Trustee | 2 | $0 |
Emily F Edmondson Director | Trustee | 2 | $4,648 |
Thomas E Graves Jr Director | Trustee | 2 | $14,127 |
David L Hickman Director | Trustee | 2 | $19,832 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Robert Patton Hauling | 12/30/23 | $236,112 |
Ideal Hauling Llc Hauling | 12/30/23 | $174,776 |
Ashman Brothers Farming Llc Hauling | 12/30/23 | $127,873 |
Mtn View Ag Express Llc Hauling | 12/30/23 | $127,868 |
Walnut Hills Trucking Llc Hauling | 12/30/23 | $119,551 |
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 | $2,718,369 |
| Investment income | $1,770,554 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,703,892 |
| Net Rental Income | -$29,099 |
| Net Gain/Loss on Asset Sales | $3,745,294 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,050,943 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $235,628 |
| 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. | $890,877 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $5,662,993 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $921,579 |
| Payroll taxes | $330,189 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $33,816 |
| Fees for services: Accounting | $15,543 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $200,202 |
| Office expenses | $471,251 |
| Information technology | $291,184 |
| Royalties | $0 |
| Occupancy | $667,472 |
| Travel | $595,703 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $7,781 |
| Conferences, conventions, and meetings | $490,571 |
| Interest | $115,208 |
| Payments to affiliates | $675,100 |
| Depreciation, depletion, and amortization | $1,361 |
| Insurance | $40,081 |
| All other expenses | $0 |
| Total functional expenses | $11,740,056 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,955,145 |
| Savings and temporary cash investments | $12,808,268 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,460,990 |
| 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 | $203,620 |
| Net Land, buildings, and equipment | $276,050 |
| Investments—publicly traded securities | $35,459,680 |
| Investments—other securities | $139,343 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $93,819 |
| Total assets | $58,396,915 |
| Accounts payable and accrued expenses | $8,712,698 |
| Grants payable | $0 |
| Deferred revenue | $1,150,286 |
| 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 | $12,814,187 |
| Total liabilities | $22,677,171 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $14,003,725 |
| Paid-in or capital surplus, or land, building, or equipment fund | $21,683,190 |
| Retained earnings, endowment, accumulated income, or other funds | $32,829 |
| Total liabilities and net assets/fund balances | $58,396,915 |
Grants Awarded
Over the last fiscal year, Virginia Farm Bureau Federation Inc has awarded $10,780 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
VIRGINIA FFA FOUNDATION PURPOSE: GENERAL SUPPORT | $5,000 |
VIRGINIA TECH FOUNDATION PURPOSE: GENERAL SUPPORT | $5,780 |