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Wayne County Farm Bureau FY2023 filing

Not tax-deductible

Corydon, IA501(c)(5)Mutual / membership EIN 42-0680711Revenue $68K in FY2023

On file with the IRS212 S Franklin St, 50060-1520 · Corydon, IATax-exempt since Jan 1945

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To create a vibrant future for agriculture, farm families and their communities.

501(c)(5) labor or agricultural organization; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 3
filings with a surplus
Average surplus $354K a year · 88% of revenue · last 3 filings
Looks good: a surplus in 3 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
60 mo
of spending, in cash
Plus $995K in investments, Pt X · Ln 11–13
Looks good: 60.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2K
0.1% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$68K
-94% vs prior year
Spent
$47K
To programs
0%
Net assets
$1.3M
By yearFY2020–FY2024
Revenue
$68K
FY2023▼ -94%
Tap a bar for its year
Revenue by fiscal year
FY2020$94K
FY2021$91K
FY2022$1.1M
FY2023$68K
FY2024$71K
Expenses
$47K
FY2023▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022$42K
FY2023$47K
FY2024$49K
Net assets
$1.3M
FY2023▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$236K
FY2021$252K
FY2022$1.3M
FY2023$1.3M
FY2024$1.3M

From the FY2023 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1945.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

21 people listed on the 990.

Part VII, Section A · reportable compensation
Justin Lain
President
$0Pt VII · Sec A
Joel Petty
Vice President
$0Pt VII · Sec A
Logan Wallace
Secretary
$0Pt VII · Sec A
Kevin Allen
Treasurer
$0Pt VII · Sec A
Dan Carpenter
Voting Delegate
$0Pt VII · Sec A
Clinton Dyer
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Milo Bettis
Director
$0Pt VII · Sec A
See Wayne County Farm Bureau executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowering farmers and communities for a thriving agricultural future.

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Provided by the organization

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3 programs · in their own filed words · FY2023
01

See Schedule O.

Pt IX · col B
02

See Schedule O.

Pt IX · col B
03

See Schedule O.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Iowa Farm Bureau FederationFY2023$9K
Total grants receivedfrom 1 funder$9K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$68K
Ln 12
Investment incomeLn 3$29K
Fees for servicesLn 2g$29K
Gifts and grantsLn 1h$11K
Money outPt IX
$47K
Ln 25
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$238K
Total assetsLn 16$1.3M
LiabilitiesLn 26$2K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$11K
Fees for servicesLn 2g$29K
Investment incomeLn 3$29K
Total revenueLn 12$68K
Assets in detailPt X, end of year
CashLn 1$50
SavingsLn 2$237K
Cash and savings togetherLn 1–2$238K
InvestmentsLn 11–13$995K
Land, buildings, equipmentLn 10c$57K
Total assetsLn 16$1.3M
LiabilitiesLn 26$2K
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 51
VolunteersI 632
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$212K$238K
InvestmentsLn 11–13$995K$995K
Land, buildings, equipmentLn 10c$61K$57K
Total assetsLn 16$1.3M$1.3M
LiabilitiesLn 26$941$2K
Net assetsLn 32$1.3M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$0
Pay of current officers, directors and key staffLn 5$585$0$0$0
Other salaries and wagesLn 7$5K$0$0$0
Other employee benefitsLn 9$100$0$0$0
Payroll taxesLn 10$435$0$0$0
Management feesLn 11a$635$0$0$0
Accounting feesLn 11c$885$0$0$0
Advertising and promotionLn 12$1K$0$0$0
Office expensesLn 13$7K$0$0$0
TravelLn 17$3K$0$0$0
Conferences, conventions and meetingsLn 19$9K$0$0$0
Payments to affiliatesLn 21$14K$0$0$0
Depreciation, depletion and amortizationLn 22$76$0$0$0
InsuranceLn 23$922$0$0$0
Other expenses (24a–d)Ln 24$2K$0$0$0
Total functional expensesLn 25$47K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $71K$49K$23K$1.3M 990 PDF
FY2023 Viewing $68K$47K$21K$1.3M 990 PDF
FY2022 $1.1M$42K$1.0M$1.3M 990 PDF
FY2021 $91K$252K 990 PDF
FY2020 $94K$236K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $67,926 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,022,256$10,621
I-9 Program service revenuePrior year $29,700$28,575
I-10 Investment incomePrior year $1,156$29,493
I-11 Other revenuePrior year $6,999−$763
I-12 Total revenuePrior year $1,060,111$67,926
I-13 Grants and similar amounts paidPrior year $3,000$2,245
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $6,262$6,289
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $32,888$38,675
I-18 Total expensesPrior year $42,150$47,209
I-19 Revenue less expensesPrior year $1,017,961$20,717
Part VI · Governance 19 of 19 board members independent, 2 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members19
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $67,926 across 8 lines filed
VIII-1d Related organizations$9,486
VIII-1f All other contributions, gifts and grants$1,135
VIII-1h Total contributions, gifts and grants$10,621
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$28,575
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $29,493$29,493
VIII-6 Net rental income or lossExcluded from tax −$3,793−$3,793
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $3,030 · Unrelated business $0 · Excluded from tax $0$3,030
VIII-12 Total revenueRelated to mission $31,605 · Unrelated business $0 · Excluded from tax $25,700$67,926
Part IX · Statement of functional expenses $47,209 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $0$2,245
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $0 · Fundraising $0$585
IX-7 Other salaries and wagesPrograms $0 · Management $0 · Fundraising $0$5,169
IX-9 Other employee benefitsPrograms $0 · Management $0 · Fundraising $0$100
IX-10 Payroll taxesPrograms $0 · Management $0 · Fundraising $0$435
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$635
IX-11c Accounting feesPrograms $0 · Management $0 · Fundraising $0$885
IX-12 Advertising and promotionPrograms $0 · Management $0 · Fundraising $0$1,472
IX-13 Office expensesPrograms $0 · Management $0 · Fundraising $0$7,029
IX-17 TravelPrograms $0 · Management $0 · Fundraising $0$2,711
IX-19 Conferences, conventions and meetingsPrograms $0 · Management $0 · Fundraising $0$8,874
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$13,970
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $0 · Fundraising $0$76
IX-23 InsurancePrograms $0 · Management $0 · Fundraising $0$922
IX-24 Other expenses (24a–d)Programs $0 · Management $0 · Fundraising $0$2,101
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$47,209
Part X · Balance sheet $1,292,156 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $50$50
X-2 Savings and temporary cash investmentsStart of year $211,986$237,499
X-4 Accounts receivableStart of year $1,931$2,123
X-9 Prepaid expenses and deferred charges$496
X-10c Land, buildings and equipment, netStart of year $61,408$56,812
X-12 Other securitiesStart of year $995,176$995,176
X-16 Total assetsStart of year $1,270,551$1,292,156
X-17 Accounts payable and accrued expensesStart of year $941$1,829
X-26 Total liabilitiesStart of year $941$1,829
X-27 Net assets without donor restrictionsStart of year $1,269,610$1,290,327
X-32 Total net assets or fund balancesStart of year $1,269,610$1,290,327
X-33 Total liabilities and net assetsStart of year $1,270,551$1,292,156
Part XI · Reconciliation of net assets $1,290,327 net assets at year end
XI-1 Total revenue$67,926
XI-2 Total expenses$47,209
XI-3 Revenue less expenses$20,717
XI-4 Net assets at start of year$1,269,610
XI-10 Net assets at end of year$1,290,327

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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