Kentucky Farm Bureau Education Foundation Inc
- Assets
- $422.8k
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- 04/1965
- Data as of
- 12/2022
- 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 12/2022, Kentucky Farm Bureau Education Foundation Inc generated $1.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 31.6% each year . All expenses for the organization totaled $2.0m during the year ending 12/2022. While expenses have increased by 38.6% 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
2022
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 2022 TO APPROXIMATELY 120 APPROVED RECIPIENTS.
DONATIONS WERE RECEVIED FOR KENTUCKIANS IMPACTED BY CATASTROPHIC FLOODS IN EASTERN KENTUCKY IN MARCH 2022. THESE EXPENSES WERE DONATIONS TO THREE ORGANIZATIONS WHOSE EFFORTS ARE FOCUSED ON PROVIDING FOOD, CLOTHING, AND OTHER SUPPORT TO AFFECTED INDIVIDUALS.
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 2022.
DONATIONS WERE RECEIVED FOR FARMERS IMPACTED BY CATASTROHPIC TORNADOS IN WESTERN KENTUCKY IN DECEMBER 2021. THIS PROGRAM ALLOWED IMPACTED FARMERS TO GO DIRECTLY TO RETAILERS AND OBTAIN SUPPLIES THEY NEEDED, UP TO $1,500 PER FARMER, TO BEGIN REBUILDING. THE RETAILERS WERE THEN REIMBURSED BY THE ORGANIZATION. IN ADDITION, APPROX. $115K WAS DONATED TO THE UNIVERSITY OF KENTUCKY FOR THE REBUILDING OF THE GRAIN AND FORAGE CENTER OF EXCELLENCE IN PRINCETON, KY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Barnett Director | Trustee | 0.5 | $0 |
Cloyce Warren Hinkle Director | Trustee | 0.5 | $0 |
David Mcglone Director | Trustee | 0.5 | $0 |
Eddie Melton First Vice President | OfficerTrustee | 1 | $0 |
Glenn Howell Director | Trustee | 0.5 | $0 |
J Scott Davis Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $23,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,142,021 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,165,021 |
| Total Program Service Revenue | $0 |
| Investment income | $1,437 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $38,043 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,205,520 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $412,141 |
| Grants and other assistance to domestic individuals. | $1,543,467 |
| 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 | $5,533 |
| 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 | $295 |
| 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 | $30 |
| Total functional expenses | $1,961,466 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,648 |
| Savings and temporary cash investments | $374,155 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,994 |
| 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 | $422,797 |
| Accounts payable and accrued expenses | $55,651 |
| 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 | $55,651 |
| Net assets without donor restrictions | $367,146 |
| 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 | $422,797 |
Grants Awarded
Over the last fiscal year, Kentucky Farm Bureau Education Foundation Inc has awarded $412,141 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
GOD'S PANTRY FOOD BANK INC PURPOSE: DISASTER RELIEF | $98,933 |
CHRISTIAN APPALACHIAN PROJECT PURPOSE: DISASTER RELIEF | $98,933 |
UNIVERSITY OF KENTUCKY PURPOSE: DISASTER RELIEF | $115,342 |
MOUNTAIN CATTLEMAN ASSOCIATION PURPOSE: DISASTER RELIEF | $98,933 |