Boys Farm Inc
- Assets
- $5.1m
- Revenue
- $1.4m
- Investments
- $2.3m
- Employees
- 16
- Location
- Newberry, SC
- Founding
- 06/1964
- Data as of
- 09/2023
- EIN
- 57-0446897
Organization Overview
Boys Farm Inc is located in Newberry, SC. The organization was established in 1964. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 09/2023, Boys Farm Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boys Farm Inc 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 09/2023, Boys Farm Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $953.3k during the year ending 09/2023. While expenses have increased by 2.6% per year over the past 8 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
TO PROVIDE HOMES FOR DISPLACED BOYS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BOYS FARM INC., LOCATED IN NEWBERRY, SOUTH CAROLINA, SERVES AS A HAVEN FOR BOYS EXPERIENCING DIFFICULT FAMILY SITUATIONS. WE BELIEVE IN MAKING A DIFFERENCE IN THE LIVES OF BOYS IN NEED BY PROVIDING A HEALTHY, STABLE ENVIRONMENT WHICH HELPS THEM GROW INTO PRODUCTIVE YOUNG MEN WITH A POSITIVE OUTLOOK OF THE FUTURE. OUR RESIDENTIAL YOUTH CARE MINISTRY IS CONVENIENT TO GREENVILLE AND COLUMBIA, SC AND SURROUNDING AREAS THROUGHOUT THE SOUTHEAST.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andre Jennings Executive Dir. | Trustee | 50 | $69,231 |
Mickey Crowe Board Member | Trustee | 5 | $0 |
Kevin Meetze Board Member | Trustee | 5 | $0 |
Kathy Wicker Board Member | Trustee | 5 | $0 |
Louise Shealy Kerr Director Emerit | Trustee | 5 | $0 |
Walter D Shealy III Chairman | Officer | 5 | $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 | $1,310,660 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,310,660 |
| Total Program Service Revenue | $29,647 |
| Investment income | $57,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $34,066 |
| Net Income from Fundraising Events | $5,604 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,441,077 |
| 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. | $79,509 |
| Compensation of current officers, directors, key employees. | $10,002 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $343,339 |
| Pension plan accruals and contributions | $4,919 |
| Other employee benefits | $12,405 |
| Payroll taxes | $31,908 |
| 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 | $10,794 |
| Advertising and promotion | $8,712 |
| Office expenses | $11,990 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $21,353 |
| 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 | $52,003 |
| Insurance | $47,926 |
| All other expenses | $153,633 |
| Total functional expenses | $953,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $130,997 |
| Savings and temporary cash investments | $245,401 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $643 |
| 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 | $2,420,700 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,317,582 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,115,323 |
| Accounts payable and accrued expenses | $4,188 |
| 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 | $13,641 |
| Total liabilities | $17,829 |
| Net assets without donor restrictions | $4,429,925 |
| Net assets with donor restrictions | $667,569 |
| 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 | $5,115,323 |