Idaho Farm Bureau Federation Inc
- Assets
- $20.5m
- Revenue
- $7.2m
- Investments
- $1.4m
- Employees
- 25
- Location
- Pocatello, ID
- Founding
- 11/1943
- Data as of
- 10/2023
- EIN
- 82-0181284
Organization Overview
Idaho Farm Bureau Federation Inc is located in Pocatello, ID. The organization was established in 1943. 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 10/2023, Idaho Farm Bureau Federation Inc employed 25 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Idaho Farm Bureau Federation Inc is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 10/2023, Idaho Farm Bureau Federation Inc generated $7.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $5.4m during the year ending 10/2023. While expenses have increased by 1.7% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, IMPROVE AND STABILZE THE AGRICULTURAL INDUSTRY IN WHICH ITS MEMBER ARE ENGAGED, BY SECURING GREATER EFFICIENCY IN THE PRODUCTION, DISTRIBUTION AND MARKETING OF AGRICULTURAL PRODUCTS AND TO CORRELATE AND STRENGTHEN THE COUNTY FARM BUREAUS AND SIMILAR ORGANIZATIONS OF THE STATE OF IDAHO AND TO COORDINATE THE ACTIVITIES OF THEIR RESPECTIVE OFFICERS AND PERSONEL, WITHIN THEIR RESPECTIVE FIELDS OF ENDEAVOR, TO THE END, THAT SOUND AND EFFECTIVE NATIONAL AND STATE LEGISLATION MAY BE ADOPTED AND ADMINISTERED, THAT PROPER AND SATISFACTORY PUBLIC RELATIONS AND SERVICES MAY BE DEVELOPED AND SUSTAINED.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SERVES ITS MEMBER FAMILIES AND IMPROVES THE QUALITY OF LIFE THROUGH MARKET SEARCH, PRICE REPORTS, AND RISK MANAGEMENT TRAINING. FARM BUREAU ASSISTS FARMERS BY PROVIDNG MARKETING RESOURCES AND POLICY ADVOCACY TO CREATE AN ENVIRONMENT WHERE SUSTAINABLE AGRICULTURE PRACTICES CAN FLOURISH. IDAHO FARM BUREAU IS THE ONLY AGRICULTURE ORGANIZATION IN THE STATE THAT REPRESENTS ALL OF THE FARM COMMODITIES GROWN IN THE STATE. OVER THE YEARS THE ORGANIZATION HAS COMPILED AN EXTENSIVE LIBRARY OF PRICING DATA FROM A VARIETY OF CROPS GROWN IN IDAHO.
THE ORGANIZATION ENDEAVORS TO PROTECT THE INTEREST OF ITS PRODUCTION MEMBERS BY DEVELOPING POLICY AT THE "GRASSROOTS" LEVEL AND PROMOTING IT ACCROSS THE STATE OF IDAHO. THE STAFF MEETS WITH STATE GOVERNMENT AGENCIES TO PROMOTE A FAVORABLE ENVIRONMENT FOR OUR MEMBERS. THROUGH MAILINGS, OUR WEBSITE, AND OUR MAGAZINES, THE MEMBERS ARE KEPT INFORMED ON CHANGING RULES AND REGULATIONS.
THE OGANIZATION USES A WIDE RANGE OF MEDIUMS TO INFORM THE MEMBERS ABOUT ISSUES AFFECTING MEMBER HOMES AND OPERATIONS. IDAHO FARM BUREAU HAS WORKED TO CREATE A WEB PRESENCE AS WELL AS A DEEP SOCIAL MEDIA FOOTPRINT. THE IDAHO FARM BUREAU QUARTERLY IS MAILED TO ALL OF THE 80,000+ MEMBERS 4 TIMES PER YEAR. THE GEM STATE PRODUCER IS MAILED TO THE 17,000+ PRODUCER MEMBERS 8 TIMES PER YEAR.
ALL OF THE MEMBERS OF THE ORGANIZATION ARE ELIGIBLE FOR MEMBER BENEFITS THAT ARE OFFERED THOUGH FARM BUREAU PARTNERS. SOME OF THE BEEFITS INCLUDE A REBATE ON NEW FORD VEHICLE PURCHASES, HOTEL DISCOUNTS, INSURANCE, INVESTMENTS, AND OTHER LOCAL VENDORS. THE ORGANIZATION SELLS OVER 20,000 DISCOUNT MOVIE AND THEME PARK TICKETS TO THE MEMBERS PER YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zak Miller Executive VP | Officer | 40 | $188,255 |
Bryan Searle President | OfficerTrustee | 10 | $95,860 |
Richard Durrant Vice Preside | Trustee | 5 | $25,850 |
Marjorie French Director | Trustee | 2 | $9,150 |
Dan Garner Director | Trustee | 2 | $9,350 |
Rick Pearson Director | Trustee | 2 | $10,550 |
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 | $2,951,220 |
| Investment income | $206,998 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,051,175 |
| Net Rental Income | -$215,538 |
| Net Gain/Loss on Asset Sales | -$1,110 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,200,937 |
| 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. | $464,065 |
| Compensation of current officers, directors, key employees. | $255,235 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,822,775 |
| Pension plan accruals and contributions | $856,394 |
| Other employee benefits | $0 |
| Payroll taxes | $150,724 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,916 |
| Fees for services: Accounting | $28,016 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,364 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $212,545 |
| Information technology | $146,749 |
| Royalties | $0 |
| Occupancy | $99,900 |
| Travel | $336,762 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $571,371 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,147 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $5,418,456 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,226,867 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $380,753 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,258 |
| Prepaid expenses and deferred charges | $2,840,949 |
| Net Land, buildings, and equipment | $1,941,740 |
| Investments—publicly traded securities | $12,528,613 |
| Investments—other securities | $1,399,096 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $163,980 |
| Total assets | $20,502,256 |
| Accounts payable and accrued expenses | $825,727 |
| 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 | $2,247,648 |
| Total liabilities | $3,073,375 |
| Net assets without donor restrictions | $17,428,881 |
| 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 | $20,502,256 |