Future Farmers Of America
- Assets
- $3.5m
- Revenue
- $922.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- 01/1945
- Data as of
- 08/2021
- EIN
- 56-6061314
Organization Overview
Future Farmers Of America is located in Raleigh, NC. The organization was established in 1945. According to its NTEE Classification (O52) the organization is classified as: Youth Development - Agricultural, under the broad grouping of Youth Development and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Future Farmers Of America is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 08/2021, Future Farmers Of America generated $922.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $745.9k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (9.6%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAKE A POSITIVE DIFFERENCE IN THE LIVES OF STUDENTS BY DEVELOPING THEIR POTENTIAL FOR PREMIER LEADERSHIP, PERSONAL GROWTH, AND CAREER SUCCESS THROUGH AGRICULTURAL EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP LEVEL CONTINUES TO GROW AND IS NOW OVER 32,000. THERE HAS BEEN PROGRAM EXPANSION OVER 8 REGIONS AND THE STATE CONVENTION CONTINUES TO BE A SUCCESS.
REGULAR SUMMER CAMPING PROGRAMS AND ACTIVITIES AT THE WHITE LAKE CENTER HAVE RESUMED IN PERSON DESPITE COVID. SPECIAL CONFERENCES ARE GETTING BACK TO IN PERSON.
PRELIMINARY ENGINEERING AND CONSTRUCTION DRAWING FOR THE STAFF HOUSE IS STILL IN THE INITIAL PHASE. A SCIF GRANT OF 1,500,000 WAS GIVEN FOR THE PROJECT.
REGULAR SUMMER CAMPING PROGRAMS AND ACTIVITIES AT THE WHITE LAKE CENTER HAVE RESUMED IN PERSON DESPITE COVID. RENOVATION IS STILL ON HOLD FOR CERTAIN PARTS OF THE CAMP. PRELIMINARY ENGINEERING AND CONSTRUCTION DRAWING FOR THE STAFF HOUSE IS STILL IN THE INITIAL PHASE. A SCIF GRANT OF 1,500,000 WAS GIVEN FOR THE PROJECT.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $224,616 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $356,626 |
| All other contributions, gifts, grants, and similar amounts not included above | $203,122 |
| Noncash contributions included in lines 1a–1f | $356,626 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $784,364 |
| Total Program Service Revenue | $25,350 |
| Investment income | $112,810 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $922,524 |
| 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 | $201,636 |
| 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 | $337,598 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,324 |
| Advertising and promotion | $0 |
| Office expenses | $1,403 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $61,235 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,917 |
| Insurance | $35,693 |
| All other expenses | $0 |
| Total functional expenses | $745,906 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $566,659 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $11,043 |
| Net Land, buildings, and equipment | $2,152,879 |
| Investments—publicly traded securities | $770,546 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $43,523 |
| Total assets | $3,544,650 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $3,462,941 |
| Net assets with donor restrictions | $81,709 |
| 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 | $3,544,650 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Future Farmers Of America has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Future Farmers Of America State Associations & Local Chapter Indianapolis, IN PURPOSE: STATE DAY OF SERVICE | $8,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family Career And Community Leaders Of America Inc Herndon, VA | $10,515,724 | $7,353,463 |
Harvest Outreach Center Inc Gladys, VA | $1,942,175 | $5,046,350 |
Georgia 4-H Club Foundation Cooperative Extension Ser Athens, GA | $9,034,027 | $3,205,781 |
Future Business Leaders Of America Phi Beta Lambda Inc Herndon, VA | $10,191,043 | $4,483,322 |
Tennessee 4-H Foundation Inc Knoxville, TN | $16,194,454 | $2,369,376 |
W E Skelton 4-H Educational Conference Ctr At Smith Mtn Lake Wirtz, VA | $9,946,052 | $666,967 |
Arrowhead Ranch Inc Normandy, TN | $228,949 | -$668,715 |
South Carolina Future Farmers Of America Foundation Saluda, SC | $16,001,969 | $3,821,690 |
Future Farmers Of America And Its State Associations & Local Chapter Athens, GA | $253,364 | $1,029,563 |
The Georgia Ffa Foundation Inc Swainsboro, GA | $1,470,155 | $1,228,156 |
Holiday Lake 4-H Educational Center Inc Appomattox, VA | $1,908,357 | $1,010,411 |
Northern Virginia 4-H Educational And Conference Center Inc Front Royal, VA | $2,983,748 | $929,408 |