Farm Credit Foundation For Agricultural Advancement
- Assets
- $7.9m
- Revenue
- $3.1m
- Investments
- $7.2m
- Employees
- 0
- Location
- Westminster, MD
- Founding
- 06/2016
- Data as of
- 12/2022
- EIN
- 81-0945517
Organization Overview
Farm Credit Foundation For Agricultural Advancement is located in Westminster, MD. The organization was established in 2016. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farm Credit Foundation For Agricultural Advancement 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, Farm Credit Foundation For Agricultural Advancement generated $3.1m in total revenue. All expenses for the organization totaled $383.1k during the year ending 12/2022. While expenses have increased by 1.2% per year over the past 4 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.
Since 2020, Farm Credit Foundation For Agricultural Advancement has awarded 104 individual grants totaling $893,095. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDED TWENTY SCHOLARSHIPS TO HIGH SCHOOL AND COLLEGE STUDENTS PLANNING TO PURSUE A CAREER IN THE AGRICULTURE INDUSTRY.
AWARDED SEVENTEEN SCHOLARSHIPS TO HIGH SCHOOL AGRICULTURE TEACHERS TO PURSUE AN ADVANCED DEGREE OR CONTINUING EDUCATION CREDITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Wright IV President | 2 | $1,825 | |
Brian Rosati Hfc Employee/vice Chair | 2 | $0 | |
Laura Heilinger Officer | 2 | $1,950 | |
John Wheeler Secretary/treasurer | 8 | $6,350 | |
Paul Baumgardner Officer | 2 | $325 | |
Kurt Fuchs Hfc Employee/ Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $3,000,100 |
| Interest on Savings | $72,793 |
| Dividends & Interest | $97,068 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$58,012 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $1,285 |
| Total Revenue | $3,113,234 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $17,025 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $25 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $7,559 |
| Printing and publications | $0 |
| Other expenses | $33 |
| Total operating and administrative expenses | $84,013 |
| Contributions, gifts, grants paid | $299,110 |
| Total expenses and disbursements | $383,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,230 |
| Savings and temporary cash investments | $688,767 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,873,030 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Farm Credit Foundation For Agricultural Advancement has awarded $299,110 in support to 30 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE RIDGE CTC FOUNDATION PURPOSE: AGRICULTURAL EDUCATION | $10,000 |
CARROLL COUNTY FARM BUREAU WOMEN'S COMMITTEE PURPOSE: AGRICULTURAL EDUCATION | $1,000 |
DELAWARE VALLEY UNIVERSITY PURPOSE: AGRICULTURAL SCHOLARSHIP | $10,000 |
CORNELL UNIVERSITY PURPOSE: AGRICULTURAL SCHOLARSHIP | $15,000 |
ELIZABETHTOWN COMMUNITY FAIR PURPOSE: AGRICULTURAL EDUCATION | $1,000 |
BUTLER COUNTY COMMUNITY COLLEGE PURPOSE: AGRICULTURAL SCHOLARSHIP | $10,000 |