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Farm Bureau INC Wayne County

Not tax-deductible

Goldsboro, NC501(c)(5)Since 1954Mutual / membership EIN 56-0632962Revenue $335K in FY2025

On file with the IRSPo Box 1958, 27533-1958 · Goldsboro, NCTax-exempt since Feb 1959

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Private, non-profit organization created to develop, foster, promote and protect programs for the welfare of Farm people, including their economic, social and educational well-being.

501(c)(5) labor or agricultural organization; gifts are not tax-deductible as charitable contributions.
Run by 542 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $28K a year · 9% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
15 mo
of spending, in cash
Looks good: 15.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$335K
+3% vs prior year
Spent
$312K
Net assets
$1.5M
By yearFY2020–FY2025
Revenue
$335K
FY2025▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$306K
FY2021$317K
FY2022$319K
FY2023$307K
FY2024$324K
FY2025$335K
Expenses
$312K
FY2025▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$252K
FY2021$271K
FY2022$284K
FY2023$302K
FY2024$321K
FY2025$312K
Net assets
$1.5M
FY2025▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$1.5M
FY2023$1.5M
FY2024$1.5M
FY2025$1.5M

From the FY2025 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1959.

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

Who runs it and what they're paid

16 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Emily Lynn Odom
Member-Bod
$0Pt VII · Sec A
Lee Casey
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Benjamin R Thomas
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Gary B Outlaw
Member-Bod
$0Pt VII · Sec A
See Farm Bureau INC Wayne County 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

Supports farmers' economic, social, and educational well-being through program development and promotion.

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Provided by the organization

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3 programs · in their own filed words · FY2025
01

Agricultural leadership development -planned, conducted and supported activities for youth and adults involved in agriculture that provided opportunities to explore the agricultural industry and develop leadership skills.

Pt IX · col B
02

Public Awareness Activities

To inform the public of the importance of agriculture to the economy of the county. Coordinated and helped to sponser events with other agriculture and community groups to raise the public awareness of agricultural enterprises within the county and to increase farmer's production knowledge.

Pt IX · col B
03

Policy development- members working in committees involved at the county, district and state levels to identify issues important to the well being of agriculture and developing public policies on such issues to pursue through the legislative and regulatory process.

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 · this organization's grantmaking
Grants paid · 6 grants · $47K · 2020–2025
The Foundation of Wayne Community College INCNC · FY2025$8,833
The Foundation of Wayne Community College INCNC · FY2024$8,333
The Foundation of Wayne Community College INCNC · FY2023$8,333
Unitemized GrantFY2022$6,000
Wayne CountyFY2020$10,000
Unitemized GrantFY2020$6,000

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$335K
Ln 12
Gifts and grantsLn 1h$270K
Other incomeLn 4–11$43K
Investment incomeLn 3$21K
Money outPt IX
$312K
Ln 25
Owns and owesPt X
$1.5M
net assets · Ln 32
Cash and savingsLn 1–2$402K
Total assetsLn 16$1.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
16
listed · VII A
PaidVII A0
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$270K
Investment incomeLn 3$21K
Other incomeLn 4–11$43K
Total revenueLn 12$335K
Assets in detailPt X, end of year
CashLn 1$176K
SavingsLn 2$226K
Cash and savings togetherLn 1–2$402K
InvestmentsLn 11–13$221K
Land, buildings, equipmentLn 10c$913K
Total assetsLn 16$1.5M
LiabilitiesLn 26$0
Net assetsLn 32$1.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6542
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$571K$402K
InvestmentsLn 11–13$221K
Land, buildings, equipmentLn 10c$943K$913K
Total assetsLn 16$1.5M$1.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.5M$1.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$34K
Grants to domestic individualsLn 2$5K
Accounting feesLn 11c$875
Advertising and promotionLn 12$397
Office expensesLn 13$11K
OccupancyLn 16$10K
Conferences, conventions and meetingsLn 19$40K
Payments to affiliatesLn 21$157K
InsuranceLn 23$392
Other expenses (24a–d)Ln 24$52K
All other expensesLn 24e$1K
Total functional expensesLn 25$312K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $335K$312K$22K$1.5M 990 PDF
FY2024 $324K$321K$4K$1.5M 990 PDF
FY2023 $307K$302K$5K$1.5M 990 PDF
FY2022 $319K$284K$35K$1.5M 990 PDF
FY2021 $317K$271K$45K$1.5M 990 PDF
FY2020 $306K$252K$54K$1.4M 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 FY2025 990 (6 parts)
Part I · Summary $334,621 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $269,124$270,450
I-9 Program service revenue$0
I-10 Investment incomePrior year $17,218$20,880
I-11 Other revenuePrior year $37,969$43,291
I-12 Total revenuePrior year $324,311$334,621
I-13 Grants and similar amounts paidPrior year $43,898$38,883
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $276,800$273,258
I-18 Total expensesPrior year $320,698$312,141
I-19 Revenue less expensesPrior year $3,613$22,480
Part VI · Governance 16 of 16 board members independent, 4 to look at
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $334,621 across 5 lines filed
VIII-1b Membership dues$270,450
VIII-1h Total contributions, gifts and grants$270,450
VIII-3 Investment incomeExcluded from tax $20,880$20,880
VIII-6 Net rental income or lossExcluded from tax $43,291$43,291
VIII-12 Total revenueExcluded from tax $64,171$334,621
Part IX · Statement of functional expenses $312,141 across 11 lines filed
IX-1 Grants to domestic organizations$33,883
IX-2 Grants to domestic individuals$5,000
IX-11c Accounting fees$875
IX-12 Advertising and promotion$397
IX-13 Office expenses$11,106
IX-16 Occupancy$10,295
IX-19 Conferences, conventions and meetings$40,022
IX-21 Payments to affiliates$156,789
IX-23 Insurance$392
IX-24 Other expenses (24a–d)$52,221
IX-24e All other expenses$1,161
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$312,141
Part X · Balance sheet $1,535,985 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $144,615$176,030
X-2 Savings and temporary cash investmentsStart of year $426,237$225,836
X-10c Land, buildings and equipment, netStart of year $942,543$912,959
X-12 Other securities$221,160
X-16 Total assetsStart of year $1,513,505$1,535,985
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,513,505$1,535,985
X-32 Total net assets or fund balancesStart of year $1,513,505$1,535,985
X-33 Total liabilities and net assetsStart of year $1,513,505$1,535,985
Part XI · Reconciliation of net assets $1,535,985 net assets at year end
XI-1 Total revenue$334,621
XI-2 Total expenses$312,141
XI-3 Revenue less expenses$22,480
XI-4 Net assets at start of year$1,513,505
XI-10 Net assets at end of year$1,535,985

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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