West Virginia Farm Bureau Inc
- Assets
- $4.1m
- Revenue
- $1.2m
- Investments
- $164.3k
- Employees
- 15
- Location
- Buckhannon, WV
- Founding
- 02/1940
- Data as of
- 09/2023
- EIN
- 55-0371723
Organization Overview
West Virginia Farm Bureau Inc is located in Buckhannon, WV. The organization was established in 1940. 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 09/2023, West Virginia Farm Bureau Inc employed 15 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. West Virginia 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 09/2023, West Virginia Farm Bureau Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 5 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $1.3m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 5 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 PROVIDE LEADERSHIP, EDUCATION, INFORMATION, TRAINING AND ECONOMIC SERVICES FOR MEMBERS AND COUNTY FARM BUREAUS TO ENHANCE THE QUALITY OF FARMING IN WEST VIRGINIA THROUGH THE BETTERMENT OF CONDITIONS OF THOSE ENGAGED IN AGRICULTURE, THE IMPROVEMENT IN THE GRADE OF THEIR PRODUCTS, AND DEVELOPMENT OF A HIGHER DEGREE OF EFFICIENCY IN THEIR AGRICULTURAL PURSUITS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE ORGANIZED THE GOALS AND IDEALS OF WEST VIRGINIA FARMERS. WE PROVIDED SERVICES TO 7,656 MEMBERS IN FISCAL YEAR ENDING 9-30-2023. EDUCATIONAL AND INFORMATIONAL MATERIALS WERE ALSO PROVIDED TO FARMERS AND LEGISLATORS. THE FARM BUREAU HELD AN ANNUAL TWO-DAY MEETING FOR MEMBERS ON NOVEMBER 14- 16, 2022 IN WHICH 191 MEMBERS ATTENDED EDUCATIONAL SESSIONS AND MEMBER SHARING OF IDEAS BENEFITING FARMERS IN VARIOUS FARMING ACTIVITIES.
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen P Butler Executive Se | Officer | 31 | $92,208 |
Pat Nestor Bod | Trustee | 2 | $2,640 |
Michael Merinar Bod And Exec | OfficerTrustee | 2 | $1,960 |
Charles Wilfong Bod,pres, Ex | OfficerTrustee | 2 | $1,840 |
Mike R Morris Bod | Trustee | 2 | $1,760 |
Michelle Wilfong Bod, St. Yf& | Trustee | 2 | $1,280 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $303,866 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $29,377 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $333,243 |
| Total Program Service Revenue | $75,312 |
| Investment income | $63,105 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $500,000 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,957 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,222,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,114 |
| 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. | $107,768 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $292,478 |
| Pension plan accruals and contributions | $19,916 |
| Other employee benefits | $72,512 |
| Payroll taxes | $31,986 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $785 |
| Fees for services: Accounting | $5,540 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $25,785 |
| Fees for services: Other | $6,592 |
| Advertising and promotion | $45,922 |
| Office expenses | $209,443 |
| Information technology | $17,221 |
| Royalties | $0 |
| Occupancy | $26,749 |
| Travel | $111,041 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $67,067 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,405 |
| Insurance | $0 |
| All other expenses | $54,160 |
| Total functional expenses | $1,274,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $247,029 |
| Savings and temporary cash investments | $1,515,946 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $99,353 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,695 |
| Inventories for sale or use | $3,545 |
| Prepaid expenses and deferred charges | $269 |
| Net Land, buildings, and equipment | $358,238 |
| Investments—publicly traded securities | $1,653,185 |
| Investments—other securities | $164,289 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,053,549 |
| Accounts payable and accrued expenses | $93,502 |
| Grants payable | $0 |
| Deferred revenue | $44,837 |
| 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 | $138,339 |
| Net assets without donor restrictions | $3,831,082 |
| Net assets with donor restrictions | $84,128 |
| 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 | $4,053,549 |