Kentucky Farm Bureau Education Foundation Inc
- Assets
- $1.2m
- Revenue
- $980.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 04/1965
- Data as of
- 12/2021
- EIN
- 61-6035765
Organization Overview
Kentucky Farm Bureau Education Foundation Inc is located in Louisville, KY. The organization was established in 1965. According to its NTEE Classification (K28) the organization is classified as: Farm Bureaus & Granges, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Farm Bureau Education Foundation 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 12/2021, Kentucky Farm Bureau Education Foundation Inc generated $980.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 32.9% each year . All expenses for the organization totaled $223.4k during the year ending 12/2021. While expenses have increased by 6.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL GRANTS FOR HIGHER EDUCATION AND PROMOTE AGRICULTURAL EDUCATION IN KY ELEMENTARY AND SECONDARY SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SCHOLARSHIPS AND AWARDS WERE GRANTED DURING 2021 TO APPROXIMATELY 120 APPROVED RECIPIENTS.
MINI GRANTS OF UP TO $500 EACH FOR AGRICULTURAL EXPERIENCE TOURS AND INFORMATION PROGRAMS FOR ELEMENTARY AND SECONDARY SCHOOL STUDENTS. THERE WERE PAYMENTS TO 6 COUNTY FARM BUREAUS IN 2021.
DONATIONS WERE RECEIVED FOR FARMERS IMPACTED BY CATASTROPHIC TORNADOES IN WESTERN KENTUCKY IN DECEMBER 2021. THESE EXPENSES WERE FOR TOTES AND ELECTRIC FENCE CHARGERS TO DISTRIBUTE THROUGHOUT THE AFFECTED AREAS. IN 2022, A GRANT PROGRAM WAS ESTABLISHED TO DIRECTLY AID IMPACTED FARMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eddie Melton First Vice President | OfficerTrustee | 1 | $0 |
Mark Haney President | OfficerTrustee | 1 | $0 |
Sharon Furches Second Vice President | OfficerTrustee | 1 | $0 |
Drew Graham Executive Officer | Officer | 1 | $0 |
Ray Allan Mackey Director | Trustee | 0.5 | $0 |
Alex Barnett Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $940,473 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $951,473 |
| Total Program Service Revenue | $0 |
| Investment income | $1,805 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $27,341 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $980,619 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $47,360 |
| Grants and other assistance to domestic individuals. | $161,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,824 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,251 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $7,514 |
| Total functional expenses | $223,449 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $790,728 |
| Savings and temporary cash investments | $373,139 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,410 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,199,277 |
| Accounts payable and accrued expenses | $76,185 |
| 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 | $76,185 |
| Net assets without donor restrictions | $1,123,092 |
| 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 | $1,199,277 |
Grants Awarded
Over the last fiscal year, Kentucky Farm Bureau Education Foundation Inc has awarded $44,360 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Louisville, KY PURPOSE: DISASTER RELIEF | $29,285 |
SOUTHERN STATES PURPOSE: DISASTER RELIEF | $15,075 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Kentucky Farm Bureau Education Foundation Inc has recieved totaling $149,123.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $111,873 |
Randolph County Farm Bureau Inc Asheboro, NC | | $10,000 |
Louisiana Farm Bureau Federation Inc Baton Rouge, LA PURPOSE: TO PROVIDE SUPPORT TO THE KENTUCKY FARM BUREAU EDUCATION FOUNDATION | $10,000 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,750 |
Central New York Community Foundation Inc Syracuse, NY PURPOSE: GENERAL SUPPORT | $7,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Assn Of State Dept Of Agriculture Arlington, VA | $11,534,503 | $27,147,679 |
Agricultural Retailers Association Arlington, VA | $7,161,238 | $3,721,691 |
National Agricultural Aviation Association Alexandria, VA | $4,837,263 | $3,074,884 |
Ohio Ecological Food And Farm Association Certification Columbus, OH | $723,448 | $1,998,099 |
Kentucky Corn Growers Association Eastwood, KY | $10,650,965 | $3,755,391 |
Producers Livestock Credit Assoc Columbus, OH | $13,618,291 | $3,463,725 |
Dekalb County Farm Bureau Sycamore, IL | $2,798,652 | $1,236,356 |
Ohio Corn & Wheat Growers Assoc Delaware, OH | $2,239,785 | $1,312,659 |
National Assn Of Farm Broadcasters Platte City, MO | $5,376,583 | $1,403,716 |
Farm Equipment Manufacturers Association Saint Louis, MO | $4,847,175 | $923,223 |
Knox County Farm Bureau Knoxville, TN | $1,372,068 | $906,855 |
Gap Connections Inc Knoxville, TN | $584,958 | $913,467 |