Farmers Charitable Foundation
- Assets
- $9.6m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Canfield, OH
- Founding
- 07/2019
- Data as of
- 12/2023
- EIN
- 83-6635385
Organization Overview
Farmers Charitable Foundation is located in Canfield, OH. The organization was established in 2019. According to its NTEE Classification (T99) the organization is classified as: Philanthropy, Voluntarism & Grantmaking Foundations N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farmers Charitable Foundation 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 12/2023, Farmers Charitable Foundation generated $1.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $851.8k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2019, Farmers Charitable Foundation has awarded 69 individual grants totaling $1,427,016. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION AND PURPOSE OF THE CORPORATION IS TO BE ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, AND EDUCATIONAL PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), INCLUDING, IN FURTHERANCE OF SUCH PURPOSES, BUT WITHOUT LIMITATION THEREON, HOLDING, INVESTING, AND ADMINISTERING ASSETS RECEIVED AS CHARITABLE GIFTS, BEQUESTS, AND CONTRIBUTIONS AND USING SUCH ASSETS OR THE INCOME THEREFROM BY MAKING GRANTS AND OTHER DISTRIBUTIONS TO FACILITATE, SUPPORT, AND INCREASE CHARITABLE ACTIVITIES IN THE FOLLOWING AREAS: HEALTH AND HUMAN SERVICES; CHILDREN, YOUTH, AND FAMILIES; SOCIAL WELFARE; EDUCATION; SCIENTIFIC RESEARCH; CULTURE, ARTS, AND HUMANITIES; RELIGION; CIVIC AND COMMUNITY AFFAIRS; ENVIRONMENT; WILDLIFE AND ANIMALS; AND OTHER CHARITABLE ACTIVITIES THAT SUPPORT CAUSES WHICH REPRESENT THE PHILANTHROPIC WISHES OF DONORS OF FARMERS CHARITABLE FOUNDATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MADE GRANTS TO CHARITABLE, RELIGIOUS, EDUCATIONAL, AND SCIENTIFIC ORGANIZATIONS IN FURTHERANCE OF EACH RECIPIENT'S EXEMPT PURPOSE. (OVER 200 ORGANIZATIONS RECEIVED GRANTS IN 2023.)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Helmick Chairman | OfficerTrustee | 1 | $0 |
Amber Wallace Soukenik Secretary | OfficerTrustee | 1 | $0 |
Mark Wenick Director | Trustee | 1 | $0 |
Troy Adair Director | Trustee | 1 | $0 |
James Gasior Director | Trustee | 1 | $0 |
Juan Santiago Director | Trustee | 1 | $0 |
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 | $1,326,770 |
| Noncash contributions included in lines 1a–1f | $954,940 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,326,770 |
| Total Program Service Revenue | $0 |
| Investment income | $238,506 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$154,557 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,410,719 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $790,736 |
| 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. | $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 | $1,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $57,006 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Total functional expenses | $851,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $694,383 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $8,946,531 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,640,914 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $9,495,719 |
| Net assets with donor restrictions | $145,195 |
| 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 | $9,640,914 |
Grants Awarded
Over the last fiscal year, Farmers Charitable Foundation has awarded $529,066 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
AKRON CHILDREN'S HOSPITAL FOUNDATION PURPOSE: PROGRAM SUPPORT | $75,000 |
OLD NORTH CHURCH PURPOSE: PROGRAM SUPPORT | $24,000 |
YMCA OF YOUNGSTOWN PURPOSE: PROGRAM SUPPORT | $10,000 |
YOUNGSTOWN STATE UNIVERSITY FOUNDATION PURPOSE: PROGRAM SUPPORT | $75,000 |
WOOSTER GRACE CHURCH PURPOSE: PROGRAM SUPPORT | $10,000 |
CHABAD ON CAMPUS AT OSU PURPOSE: PROGRAM SUPPORT | $19,566 |