Tipton County Farm Bureau FY2020 filing

Not tax-deductible

Covington, TN501(c)(5)Since 1921Mutual / membership EIN 62-0586552Revenue $223K in FY2020

On file with the IRS1798 US Hwy 51s, 38019-0000 · Covington, TNTax-exempt since May 1972

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Organized to develop, foster, promote, & protect programs for the general welfare including economic, social, & political well being of Farm people.

501(c)(5) labor or agricultural organization; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2020 · 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 $24K a year · 10% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
2 mo
of spending, in cash
Plus $479K in investments, Pt X · Ln 11–13
Fine: 2.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10
<0.01% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$223K
Spent
$207K
To programs
100%
Net assets
$551K
By yearFY2020–FY2025
Revenue
$223K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$223K
FY2021$231K
FY2022$231K
FY2023$239K
FY2024$257K
FY2025$270K
Expenses
$207K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$207K
FY2021$215K
FY2022$222K
FY2023$215K
FY2024$217K
FY2025$235K
Net assets
$551K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$551K
FY2021$596K
FY2022$534K
FY2023$591K
FY2024$649K
FY2025$721K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1972.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $207K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary/Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Tipton 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports farm people's economic, social, and political 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 · FY2020
01

Agriculture leadership activities the tipton county farm bureau structure of organizational leadership provides many opportunities for member leaders to keep abreast of issues that affect agriculture. Local board members attend organizational & educational meetings each month.

Pt IX · col B
02

Public policy programs in order to protect & promote the agriculture industry the tipton co farm bureau through its structure of volunteer leaders supports public policy efforts at the local, state & national level.

Pt IX · col B
03

Youth leadership activities tipton county farm bureau supports youth agriculture organizations both financially and with volunteer hours. The organization is a primary sponsor of the tipton county 4-h organization as well as the tipton co ffa organization.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$223K
Ln 12
Gifts and grantsLn 1h$200K
Investment incomeLn 3$13K
Other incomeLn 4–11$11K
Money outPt IX
$207K
Ln 25
Programscol B$207K
Owns and owesPt X
$551K
net assets · Ln 32
Cash and savingsLn 1–2$34K
Total assetsLn 16$551K
LiabilitiesLn 26$10
PeoplePt VI, VII
12
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$200K
Investment incomeLn 3$13K
Other incomeLn 4–11$11K
Gains on assetsLn 7$5K
Total revenueLn 12$223K
Assets in detailPt X, end of year
CashLn 1$29K
SavingsLn 2$5K
Cash and savings togetherLn 1–2$34K
InvestmentsLn 11–13$479K
Land, buildings, equipmentLn 10c$37K
Total assetsLn 16$551K
LiabilitiesLn 26$10
Net assetsLn 32$551K
OperationsPt I, VI
EmployeesI 50
VolunteersI 645
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$70K$34K
InvestmentsLn 11–13$419K$479K
Land, buildings, equipmentLn 10c$30K$37K
Total assetsLn 16$518K$551K
LiabilitiesLn 26$10$10
Net assetsLn 32$518K$551K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$2K$2K
Management feesLn 11a$7K$7K$0$0
Accounting feesLn 11c$415$415$0$0
Other fees for servicesLn 11g$27K$27K$0$0
Advertising and promotionLn 12$1K$1K$0$0
Office expensesLn 13$8K$8K$0$0
OccupancyLn 16$20K$20K$0$0
Conferences, conventions and meetingsLn 19$8K$8K$0$0
InterestLn 20$10$10$0$0
Payments to affiliatesLn 21$123K$123K$0$0
Depreciation, depletion and amortizationLn 22$1K$1K$0$0
InsuranceLn 23$3K$3K$0$0
Other expenses (24a–d)Ln 24$7K$7K$0$0
Total functional expensesLn 25$207K$207K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $270K$235K$35K$721K 990 PDF
FY2024 $257K$217K$40K$649K 990 PDF
FY2023 $239K$215K$24K$591K 990 PDF
FY2022 $231K$222K$9K$534K 990 PDF
FY2021 $231K$215K$16K$596K 990 PDF
FY2020 Viewing $223K$207K$16K$551K 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 FY2020 990 (6 parts)
Part I · Summary $223,112 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $197,995$199,851
I-9 Program service revenue$0
I-10 Investment incomePrior year $14,161$12,514
I-11 Other revenuePrior year $9,401$10,747
I-12 Total revenuePrior year $221,557$223,112
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $1,903$1,900
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $205,554$204,767
I-18 Total expensesPrior year $207,457$206,667
I-19 Revenue less expensesPrior year $14,100$16,445
Part VI · Governance 12 of 12 board members independent, 4 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $223,112 across 6 lines filed
VIII-1b Membership dues$199,851
VIII-1h Total contributions, gifts and grants$199,851
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $7,928$7,928
VIII-6 Net rental income or lossExcluded from tax $10,747$10,747
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,586$4,586
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $23,261$223,112
Part IX · Statement of functional expenses $206,667 across 13 lines filed
IX-4 Benefits paid to or for membersPrograms $1,900$1,900
IX-11a Management feesPrograms $6,678 · Management $0 · Fundraising $0$6,678
IX-11c Accounting feesPrograms $415 · Management $0 · Fundraising $0$415
IX-11g Other fees for servicesPrograms $26,722 · Management $0 · Fundraising $0$26,722
IX-12 Advertising and promotionPrograms $1,068 · Management $0 · Fundraising $0$1,068
IX-13 Office expensesPrograms $7,788 · Management $0 · Fundraising $0$7,788
IX-16 OccupancyPrograms $19,617 · Management $0 · Fundraising $0$19,617
IX-19 Conferences, conventions and meetingsPrograms $8,120 · Management $0 · Fundraising $0$8,120
IX-20 InterestPrograms $10 · Management $0 · Fundraising $0$10
IX-21 Payments to affiliatesPrograms $122,994 · Management $0 · Fundraising $0$122,994
IX-22 Depreciation, depletion and amortizationPrograms $1,051 · Management $0 · Fundraising $0$1,051
IX-23 InsurancePrograms $2,826 · Management $0 · Fundraising $0$2,826
IX-24 Other expenses (24a–d)Programs $7,478 · Management $0 · Fundraising $0$7,478
IX-25 Total functional expensesPrograms $206,667 · Management $0 · Fundraising $0$206,667
Part X · Balance sheet $550,900 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $21,033$29,044
X-2 Savings and temporary cash investmentsStart of year $48,553$4,980
X-10c Land, buildings and equipment, netStart of year $30,056$37,469
X-12 Other securitiesStart of year $418,735$479,407
X-16 Total assetsStart of year $518,377$550,900
X-17 Accounts payable and accrued expensesStart of year $10$10
X-26 Total liabilitiesStart of year $10$10
X-32 Total net assets or fund balancesStart of year $518,367$550,890
X-33 Total liabilities and net assetsStart of year $518,377$550,900
Part XI · Reconciliation of net assets $550,890 net assets at year end
XI-1 Total revenue$223,112
XI-2 Total expenses$206,667
XI-3 Revenue less expenses$16,445
XI-4 Net assets at start of year$518,367
XI-5 Net unrealized gains (losses) on investments$16,078
XI-10 Net assets at end of year$550,890

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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