National Livestock Credit Corporation
- Assets
- $150.6m
- Revenue
- $7.6m
- Investments
- $2.4m
- Employees
- 21
- Location
- Oklahoma City, OK
- Founding
- 08/1979
- Data as of
- 12/2021
- EIN
- 73-0369300
Organization Overview
National Livestock Credit Corporation is located in Oklahoma City, OK. The organization was established in 1979. According to its NTEE Classification (K26) the organization is classified as: Animal Husbandry, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 12/2021, National Livestock Credit Corporation employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Livestock Credit Corporation is a 501(c)(16) and as such, is described as a "Cooperative Organization to Finance Crop Operations" by the IRS.
For the year ending 12/2021, National Livestock Credit Corporation generated $7.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $5.5m during the year ending 12/2021. While expenses have increased by 1.9% 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 FUNDS FOR BORROWING PURPOSES FOR MEMBERS TO PURCHASE CATTLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE FUNDS FOR BORROWING PURPOSES FOR THEIR MEMBERS FOR THE PURCHASE OF CATTLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Rich President | Officer | 40 | $239,937 |
Chris Carroll Vp/coo | Officer | 40 | $122,525 |
David Tague Vp/loan Offi | Officer | 40 | $122,333 |
Kurtis Ward Exec Vp/sec/ | Officer | 40 | $50,750 |
J Robert York CEO | Officer | 40 | $15,160 |
Craig Crabb Vp/cfo/treas | Officer | 40 | $8,125 |
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 | $6,446,355 |
| Investment income | $410,273 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $58,357 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,595,565 |
| 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. | $601,139 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $783,441 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $625,427 |
| Payroll taxes | $179,903 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,549 |
| Fees for services: Accounting | $33,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,619 |
| Advertising and promotion | $68,530 |
| Office expenses | $403,784 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $54,661 |
| Travel | $84,992 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,847,536 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $171,515 |
| Insurance | $128,297 |
| All other expenses | $161,364 |
| Total functional expenses | $5,493,703 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,245,918 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $143,132,003 |
| 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 | $190,094 |
| Net Land, buildings, and equipment | $723,696 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,368,865 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,964,110 |
| Total assets | $150,624,686 |
| Accounts payable and accrued expenses | $267,522 |
| 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 | $109,968,543 |
| Total liabilities | $110,236,065 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $374,800 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $40,013,821 |
| Total liabilities and net assets/fund balances | $150,624,686 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Colorado State University Research Foundation Fort Collins, CO | $76,363,616 | $17,101,425 |
Texas & Southwestern Cattle Raisers Association Fort Worth, TX | $17,279,002 | $9,900,679 |
National Reining Horse Association Oklahoma City, OK | $11,899,947 | $11,137,373 |
National Livestock Credit Corporation Oklahoma City, OK | $150,624,686 | $7,595,565 |
Cattle Marketing Information Service Inc Centennial, CO | $10,232,189 | $5,839,323 |
Oklahoma Cattlemens Association Inc Oklahoma City, OK | $1,815,271 | $1,815,588 |
Ranching Heritage Association Lubbock, TX | $3,709,330 | $1,901,466 |
Texas Dairy Herd Improvement Assn Canyon, TX | $291,447 | $1,634,168 |
Bob L Herd Foundation Tyler, TX | $31,980,436 | $2,127,283 |
Pasadena Livestock Show & Rodeo Association Inc Pasadena, TX | $639,099 | $1,663,574 |
Missouri Cattlemens Association Columbia, MO | $888,899 | $1,504,434 |
American Brahman Breeders Assn Bryan, TX | $2,272,535 | $1,609,526 |