Montgomery County Farm Bureau
- Assets
- $658.8k
- Revenue
- $92.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Christiansburg, VA
- Founding
- 12/1957
- Data as of
- 10/2023
- EIN
- 54-0699292
Organization Overview
Montgomery County Farm Bureau is located in Christiansburg, VA. The organization was established in 1957. 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 is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 10/2023, Montgomery County Farm Bureau generated $92.2k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $74.7k during the year ending 10/2023. As we would expect to see with falling revenues, expenses have declined by (1.5%) 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
AN ORGANIZATION OF PERSONS INTERESTED IN AGRICULTURE AND THE BETTERMENT OF AGRICULTURAL EDUCATION, ECONOMIC OPPORTUNITY, AND SOCIAL ADVANCEMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC AFFAIRS-WE PROVIDE INFORMATION TO MEMBERS REGARDING COMMON PROBLEMS AFFECTED BY LOCAL, STATE, AND FEDERAL LEGISLATION.
COMMODITIES - WORKING WITH SPECIALLY TRAINED VIRGINIA FARM BUREAU EMPLOYEES TO SOLVE COMMON PROBLEMS OF COMMODITY GROUPS WITHIN OUR MEMBERSHIP.
COMMUNICATIONS - DISTRIBUTION OF INFORMATION TO MEMBERS OF THE ORGANIZATION VIA NEWSLETTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Casey Phillips President | OfficerTrustee | 3.15 | $0 |
Bruce Stanger Vice President | OfficerTrustee | 0.62 | $0 |
Randy Wolf Secretary | OfficerTrustee | 0.48 | $0 |
Roger Saville Treasurer | OfficerTrustee | 0.22 | $0 |
Nick Mcneil Director | Trustee | 0.51 | $0 |
Meghan Dove Ag Education/director | Trustee | 0.62 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $74,776 |
| Investment income | $5,452 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,612 |
| Net Gain/Loss on Asset Sales | -$615 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $92,232 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,950 |
| Grants and other assistance to domestic individuals. | $4,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,382 |
| Compensation of current officers, directors, key employees. | $0 |
| 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 | $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 | $3,329 |
| Office expenses | $3,572 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $11,517 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $565 |
| All other expenses | $454 |
| Total functional expenses | $74,724 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,685 |
| Savings and temporary cash investments | $223,326 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,983 |
| 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 | $414,778 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $658,772 |
| Accounts payable and accrued expenses | $282 |
| Grants payable | $0 |
| Deferred revenue | $12,408 |
| 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 | $189,412 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $202,102 |
| Net assets without donor restrictions | $0 |
| 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 | $456,670 |
| Total liabilities and net assets/fund balances | $658,772 |