Kentucky Farm Bureau Insurance Foundation Inc
- Assets
- $29.8k
- Revenue
- $325.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Louisville, KY
- Founding
- Data as of
- 12/2021
- EIN
- 84-3660741
Organization Overview
Kentucky Farm Bureau Insurance Foundation Inc is located in Louisville, KY. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kentucky Farm Bureau Insurance Foundation Inc 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 12/2021, Kentucky Farm Bureau Insurance Foundation Inc generated $325.4k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 23.9% each year . All expenses for the organization totaled $353.7k during the year ending 12/2021. 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
TO SUPPORT THOSE IN NEED AND IMPROVE THE QUALITY OF LIFE THROUGHOUT THE COMMONWEALTH OF KENTUCKY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SUPPORT THOSE IN NEED AND IMPROVE THE QUALITY OF LIFE THROUGHOUT THE COMMONWEALTH OF KENTUCKY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Haney President | OfficerTrustee | 1 | $0 |
Eddie Melton Vice President | OfficerTrustee | 1 | $0 |
Sharon Furches Vice President | OfficerTrustee | 1 | $0 |
John Sparrow Evp/ceo/secretary | OfficerTrustee | 1 | $0 |
Jena Stone Treasurer/asst Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $229,210 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $158,701 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $387,911 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$62,524 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $325,387 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $349,100 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,179 |
| 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 | $353,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,627 |
| Savings and temporary cash investments | $0 |
| 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 | $7,211 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,838 |
| 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 | $0 |
| 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 | $29,838 |
| Total liabilities and net assets/fund balances | $29,838 |
Grants Awarded
Over the last fiscal year, Kentucky Farm Bureau Insurance Foundation Inc has awarded $349,100 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: FLOOD RELIEF | $135,600 |
Frankfort, KY PURPOSE: PROVIDE FUNDS FOR HUNGER INITIATIVE | $108,000 |
Louisville, KY PURPOSE: PROVIDE FUNDS FOR HUNGER INITIATIVE | $53,000 |
Lexington, KY PURPOSE: PROVIDE FUNDS FOR HUNGER INITIATIVE | $52,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Equity Fund Inc Chicago, IL | $118,912,735 | $59,533,345 |
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
National Merit Scholarship Corporation Evanston, IL | $183,825,978 | $50,191,294 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Evans Scholars Foundation Glenview, IL | $101,873,087 | $62,566,812 |
Cardinal Services Inc Of Indiana Warsaw, IN | $28,675,162 | $26,373,889 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
College Now Greater Cleveland Inc Cleveland, OH | $24,271,314 | $18,465,003 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |
Children Of Fallen Patriots Foundation Reston, VA | $18,264,760 | $13,060,746 |