South Carolina Farm Bureau Federation
- Assets
- $52.4m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 42
- Location
- Columbia, SC
- Founding
- 01/1973
- Data as of
- 07/2023
- EIN
- 57-0473090
Organization Overview
South Carolina Farm Bureau Federation is located in Columbia, SC. The organization was established in 1973. 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 07/2023, South Carolina Farm Bureau Federation employed 42 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. South Carolina Farm Bureau Federation is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 07/2023, South Carolina Farm Bureau Federation generated $8.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $7.1m during the year ending 07/2023. While expenses have increased by 0.6% 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 PROMOTE AGRICULTURAL INTERESTS IN THE STATE OF SC AND OPTIMIZE THE LIVES OF THOSE INVOLVED IN AGRICULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FEDERATION PROVIDES A VEHICLE FOR FARMERS TO WORK TOGETHER TO DEVELOP UNIFIED POLICIES TO FEATURE AGRICULTURAL ACHIEVEMENTS AND PROMOTE OPPORTUNITIES FOR OUR MEMBERS TO COME TOGETHER AND SHARE AGRICULTURAL EXPERIENCES, PROVIDE EDUCATIONAL CLASSES AND PROMOTE FELLOWSHIP AMONGST MEMBERS AND THEIR FAMILIES.
YOUNG FARMERS & RANCHERS - PROVIDE SUPPORT FOR YOUNG FARMERS AND THEIR FAMILIES BY PROVIDING PROGRAMS AND ACTIVITIES FOR EDUCATION, LEADERSHIP DEVELOPMENT AND ADVOCACY.
PROVIDE OPPORTUNITY FOR MEMBERS TO ENGAGE WITH LEGISLATORS ON A GRASSROOTS LEVEL AND ADVOCATE FOR POLICIES IN SUPPORT OF SOUTH CAROLINA AGRICULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Harry Ott President | OfficerTrustee | 40 | $222,278 |
Keith Allen Pee Dee District Vice President | Trustee | 1.3 | $2,000 |
Tim Donald Piedmont District Vice President | Trustee | 1.3 | $1,750 |
Raleigh Ward Pee Dee District Vice President | Trustee | 1.3 | $1,500 |
Andy Whiten Board Member | Trustee | 0.3 | $1,375 |
Charles Brigman Board Member | Trustee | 0.3 | $1,250 |
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 | $1,479,122 |
| Investment income | $798,078 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $334,672 |
| Net Gain/Loss on Asset Sales | $516,047 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,359,176 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $95,000 |
| 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. | $1,431,986 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,250,322 |
| Pension plan accruals and contributions | $18,277 |
| Other employee benefits | $0 |
| Payroll taxes | $192,584 |
| 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 | $255,000 |
| Advertising and promotion | $0 |
| Office expenses | $101,623 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $110,075 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,800,349 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $313,210 |
| Insurance | $497,274 |
| All other expenses | $80,753 |
| Total functional expenses | $7,099,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,484,022 |
| Savings and temporary cash investments | $1,263,491 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,210,905 |
| 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 | $85,481 |
| Net Land, buildings, and equipment | $2,909,218 |
| Investments—publicly traded securities | $34,451,503 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,972,868 |
| Total assets | $52,377,488 |
| Accounts payable and accrued expenses | $1,184,681 |
| 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 | $3,080,483 |
| Total liabilities | $4,265,164 |
| 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 | $48,112,324 |
| Total liabilities and net assets/fund balances | $52,377,488 |
Grants Awarded
Over the last fiscal year, South Carolina Farm Bureau Federation has awarded $95,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
SOUTH CAROLINA FARM BUREAU EDUCATIONAL FOUNDATION PURPOSE: EDUCATION SUPPORT | $15,000 |
SC AG-IN-THE-CLASSROOM FUND PURPOSE: EDUCATION SUPPORT | $10,000 |
SOUTH CAROLINA FARM BUREAU LAND TRUST INC PURPOSE: AGRICULTURAL LAND CONSERVATION SUPPORT | $70,000 |