North Carolina Farm Bureau Federation Inc
- Assets
- $51.4m
- Revenue
- $16.4m
- Investments
- $0.0
- Employees
- 45
- Location
- Raleigh, NC
- Founding
- 05/1949
- Data as of
- 12/2022
- EIN
- 56-0340590
Organization Overview
North Carolina Farm Bureau Federation Inc is located in Raleigh, NC. The organization was established in 1949. 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 12/2022, North Carolina Farm Bureau Federation Inc employed 45 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. North Carolina 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 12/2022, North Carolina Farm Bureau Federation Inc generated $16.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $16.6m during the year ending 12/2022. While expenses have increased by 3.9% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
NORTH CAROLINA FARM BUREAU WAS ORGANIZED AS A GENERAL FARM ORGANIZATION TO ADVANCE, IMPROVE AND PROMOTE THE AGRICULTURAL INTEREST AND ECONOMIC WELL- BEING OF FARMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADMINISTRATIVE AND MANAGEMENT EXPENSES TO SUPPORT THE PROGRAM ACHIEVEMENTS.
PUBLICATIONS-FARM BUREAU MAGAZINE IS PUBLISHED QUARTERLY AND MAILED TO APPROXIMATELY 600,000 MEMBERS. THE LEADER REACHES 3,500 MEMBERS MONTHLY. WEBSITE AND INTERNET TECHNOLOGY AND SOCIAL MEDIA ARE UTILIZED TO PROVIDE MEMBERS BETTER ACCESS TO PROGRAMS. WEB PORTALS ARE ESTABLISHED FOR SOME PROGRAMS. NCFB POST "DAILY BRIEFING" ON ITS WEBSITE FOCUSING ON CURRENT ISSUES RELEVANT TO OUR MEMBERSHIP. NCFB MAINTAINS ACTIVE FACEBOOK, GOOGLE +, TWITTER, YOUTUBE AND FLICKER PAGES. THESE MEDIUM ARE FREQUENTLY USED TO PUBLICIZE NCFB AND COUNTY LEGISLATIVE EVENTS AND PROMOTE ACTION ALERTS. NCFB'S YOUTUBE HAS MOER THAN 600 VIDEOS.
FIELD SERVICE AND AG IN THE CLASSROOM-NCFB FIELD SERVICES PROMOTES AND COORDINATES PROGRAM ACTIVITIES WITH 100 COUNTY FARM BUREAUS. FIELD SERVICES WORKS WITH PROGRAMS TO FOSTER THE FARM BUREAU MISSION. THE FOLLOWING ARE PROGRAMS FIELD SERVICES WORKS WITH. SAFETY PROGRAM IS EXECUTED BY COUNTY VOLUNTEERS. INSTITUITE FOR FUTURE AGRICULTURE LEADERS, HAD HIGH SCHOOL RISING SENIORS ATTEND THE ACADEMY. STUDENTS VISITED NCSU AND NCA&T UNIVERSITIES TO EXPERIENCE AG RELATED EDUCATION OPPORTUNITIES. OTHER INVOLVEMENTS INCLUDE THE NORTH CAROLINA ANIMAL AG COALITION,FARM CITY WEEK, FOOD CHECK OUT WEEK, FARM HERITAGE DAYS, AG HAULING HANDBOOK JUST TO MENTION A FEW. ASSIST THE AG IN THE CLASSROOM (AITC) STAFF WITH ITS PROGRAMS-AITC SPONSORED EVENTS. OVER 1,400 EDUCATORS WERE TRAINED AND OVER 50,000 STUDENTS WERE TAUGHT AITC CURRICULM. AITC SPONSORED PROFESSIONAL DEVELOPMENT TO 1,000 STUDENT TEACHERS AT 3 UNIVERSITIES. SUPPORTED THE LEAD AND WOMEN LEADERSHIP COMMITTEES.
PUBLIC POLICY AND LEGISLATIVE-NC FARM BUREAU IS A TRUE GRASSROOTS ORGANIZATION, HIGHLY STRESSING MEMBER INVOLVEMENT IN POLICY DEVELOPMENT AND IMPLEMENTATION. ALL NCFB POLICY POSITIONS BEGIN WITH RECOMMENDATIONS FROM THE 100 COUNTY ANNUAL MEETINGS, WHICH ARE REVIEWED BY ABOUT 120 MEMBERS AT THE STATE RESOLUTIONS COMMITTEE MEETING. THE RESOLUTIONS ARE VOTED ON BY 600 VOTING DELEGATES REPRESENTING THE ENTIRE STATE AT OUR ANNUAL MEETING. NCFB HAS APPROXIMATELY 585 MEMBERS SERVING ON 21 STATE ADVISORY COMMITTEES. THESE COMMITTEES MEET AT LEAST TWICE A YEAR. ONE OF THESE MEETINGS IS OUR POLICY REVIEW DAY WHEN OVER 400 PEOPLE ATTEND. NCFB HAD 10 MEMBERS SERVE ON AMERICAN FARM BUREAU COMMODITY COMMITTEES. NCFB DISTRIBUTED THE CAPITAL ROUNDUP (LEGISLATIVE NEWSLETTER) TO OVER 1,500 MEMBERS WEEKLY DURING THE LEGISLATIVE SEASON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Shawn B Harding President | Officer | 14 | $313,854 |
Paul Sherman Asst To The | Officer | 40 | $191,575 |
Perry L Crutchfield Treasurer | Officer | 22 | $287,873 |
Matt Currin Treasurer | Officer | 22 | $98,029 |
Phillip Jacob Parker Jr Secretary | Officer | 18 | $200,093 |
Mitch Peele Dir Of Publi | Officer | 40 | $211,940 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,041,239 |
| 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 | $9,041,239 |
| Total Program Service Revenue | $4,080,937 |
| Investment income | $2,306,744 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $404,323 |
| Net Rental Income | $211,010 |
| Net Gain/Loss on Asset Sales | $333,385 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,377,743 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $1,594,540 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,217,743 |
| Pension plan accruals and contributions | $1,398,998 |
| Other employee benefits | $786,850 |
| Payroll taxes | $336,507 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $640 |
| Fees for services: Accounting | $54,830 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $75,019 |
| Fees for services: Other | $26,291 |
| Advertising and promotion | $1,639,577 |
| Office expenses | $543,208 |
| Information technology | $214,415 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $662,342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,428,459 |
| Interest | $0 |
| Payments to affiliates | $3,141,311 |
| Depreciation, depletion, and amortization | $322,785 |
| Insurance | $92,980 |
| All other expenses | $12,515 |
| Total functional expenses | $16,635,073 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,095,647 |
| Savings and temporary cash investments | $1,668,813 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,250,830 |
| 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 | $1,693,595 |
| Net Land, buildings, and equipment | $10,386,312 |
| Investments—publicly traded securities | $24,399,504 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,918,116 |
| Total assets | $51,412,817 |
| Accounts payable and accrued expenses | $515,620 |
| Grants payable | $0 |
| Deferred revenue | $4,990,208 |
| 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 | $6,382,680 |
| Total liabilities | $11,888,508 |
| Net assets without donor restrictions | $39,524,309 |
| 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 | $51,412,817 |