Texas Farm Bureau
- Assets
- $1.1b
- Revenue
- $25.8m
- Investments
- $0.0
- Employees
- 72
- Location
- Waco, TX
- Founding
- 02/1945
- Data as of
- 12/2021
- EIN
- 74-1145986
Organization Overview
Texas Farm Bureau is located in Waco, TX. The organization was established in 1945. 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 12/2021, Texas Farm Bureau employed 72 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Texas Farm Bureau is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2021, Texas Farm Bureau generated $25.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $16.5m during the year ending 12/2021. While expenses have increased by 1.0% 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
TEXAS FARM BUREAU'S MISSION IS TO BE THE VOICE OF TEXAS AGRICULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LOCAL, COUNTY, STATE, NATIONAL AND GLOBAL MEETINGS ON AGRICULTURE AND RURAL LIVING
PROMOTION OF AGRICULTURE COMMODITIES AND PROBLEM SOLVING CONCERNING MEMBERS COMMODITIES.
PARTICIPATION AND UPDATING IN MATTERS OF LEGISLATION AFFECTING AGRICULTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Si Cook Executive Director | Officer | 40 | $421,438 |
Charles Benton Director Of Field Operatio | Officer | 40 | $344,977 |
Regan Beck Director Of Government Aff | Officer | 40 | $341,226 |
Gary Joiner Director Of Communications | Officer | 40 | $287,521 |
Chris Daughtery CFO | Officer | 40 | $282,118 |
Whit Weems Director Of Organization | Officer | 40 | $265,303 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,459,411 |
| 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 | $7,459,411 |
| Total Program Service Revenue | $0 |
| Investment income | $2,321,488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $15,348,182 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $95,495 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,839,501 |
| 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. | $3,900,637 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,105,735 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,921,222 |
| Payroll taxes | $502,106 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,571 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $24,595 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $365,732 |
| Office expenses | $155,082 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $354,311 |
| Travel | $681,665 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $879,817 |
| Interest | $3,099 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $498,267 |
| Insurance | $162,710 |
| All other expenses | $468,527 |
| Total functional expenses | $16,453,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$2 |
| Savings and temporary cash investments | $36,586,573 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,586,296 |
| 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 | $355,491 |
| Net Land, buildings, and equipment | $4,305,810 |
| Investments—publicly traded securities | $68,947,517 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $959,989,112 |
| Total assets | $1,072,770,797 |
| Accounts payable and accrued expenses | $6,410,192 |
| 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 | $6,566,093 |
| Total liabilities | $12,976,285 |
| Net assets without donor restrictions | $1,059,794,512 |
| 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 | $1,072,770,797 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oklahoma State Fair Inc Oklahoma City, OK | $18,358,668 | $22,331,954 |
Texas Farm Bureau Waco, TX | $1,072,770,797 | $25,839,501 |
Arkansas Farm Bureau Federation Little Rock, AR | $66,846,371 | $16,311,552 |
Textile Exchange Lamesa, TX | $12,297,668 | $16,219,596 |
National Reined Cow Horse Association Pilot Point, TX | $5,326,422 | $10,193,097 |
Southern United States Trade Association Susta New Orleans, LA | $3,093,143 | $7,251,421 |
Louisiana Farm Bureau Federation Inc Baton Rouge, LA | $75,119,133 | $8,594,309 |
Mclennan County Fair Inc Waco, TX | $8,076,032 | $10,500,101 |
Agricultural Development Fund Fort Worth, TX | $1,257,000 | $6,712,594 |
Louisiana Quarter Horse Breeders Association Alexandria, LA | $10,986,998 | $7,601,612 |
National Finance Credit Corp Of Tx Fort Worth, TX | $196,184,500 | $9,101,860 |
Texas Quarter Horse Association Elgin, TX | $5,419,371 | $4,846,350 |