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Faulkner County Farm Bureau

Not tax-deductible

Conway, AR501(c)(5)EIN 71-0265247Revenue $482K in FY2024

On file with the IRSarfb.com/faulknerPo Box 936, 72033-0936 · Conway, ARTax-exempt since Feb 1967

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Agricultural promotion

Run by 29 volunteers and 6 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · 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
5 of 5
filings with a surplus
Average surplus $40K a year · 9% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
8 mo
of spending, in cash
Looks good: 7.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$61K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$482K
+14% vs prior year
Spent
$480K
Net assets
$1.1M
By yearFY2020–FY2024
Revenue
$482K
FY2024▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$405K
FY2021$400K
FY2022$396K
FY2023$423K
FY2024$482K
Expenses
$480K
FY2024▲ +16%
Tap a bar for its year
Expenses by fiscal year
FY2020$338K
FY2021$320K
FY2022$358K
FY2023$412K
FY2024$480K
Net assets
$1.1M
FY2024+0.2%
Tap a bar for its year
Net assets by fiscal year
FY2020$957K
FY2021$1.0M
FY2022$1.1M
FY2023$1.1M
FY2024$1.1M

From the FY2024 Form 990 (year ending October 2024) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 1967.

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 · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Michael Lee
Vice President
$0Pt VII · Sec A
Matt Simon
Secretary/Treasurer
$0Pt VII · Sec A
Jim Baker
Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Faulkner 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

Faulkner County Farm Bureau is a member-serving organization based in Conway, AR.

Questions for Faulkner County Farm Bureau

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Provided by the organization

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1 program · in their own filed words · FY2023
01

County farm bureau work is general in nature, helping farm families achieve educational improvements, economic opportunity, and social advancement.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$482K
Ln 12
Other incomeLn 4–11$372K
Fees for servicesLn 2g$110K
Money outPt IX
$480K
Ln 25
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$302K
Total assetsLn 16$1.1M
LiabilitiesLn 26$61K
PeoplePt VI, VII
21
listed · VII A
PaidVII A0
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$110K
Other incomeLn 4–11$372K
Total revenueLn 12$482K
Assets in detailPt X, end of year
CashLn 1$1K
SavingsLn 2$301K
Cash and savings togetherLn 1–2$302K
Land, buildings, equipmentLn 10c$844K
Other assetsLn 15$2K
Total assetsLn 16$1.1M
LiabilitiesLn 26$61K
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 56
VolunteersI 629
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$301K$302K
Land, buildings, equipmentLn 10c$857K$844K
Total assetsLn 16$1.2M$1.1M
LiabilitiesLn 26$75K$61K
Net assetsLn 32$1.1M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$7K
Other salaries and wagesLn 7$286K
Pension plan contributionsLn 8$6K
Payroll taxesLn 10$22K
Accounting feesLn 11c$4K
Advertising and promotionLn 12$17K
Office expensesLn 13$28K
OccupancyLn 16$53K
Conferences, conventions and meetingsLn 19$24K
Depreciation, depletion and amortizationLn 22$29K
InsuranceLn 23$2K
Other expenses (24a–d)Ln 24$3K
Total functional expensesLn 25$480K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $482K$480K$2K$1.1M 990 PDF
FY2023 $423K$412K$11K$1.1M 990 PDF
FY2022 $396K$358K$39K$1.1M 990 PDF
FY2021 $400K$320K$79K$1.0M 990 PDF
FY2020 $405K$338K$67K$957K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $482,312 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $118,114$110,467
I-10 Investment incomePrior year $3,476$0
I-11 Other revenuePrior year $301,576$371,845
I-12 Total revenuePrior year $423,166$482,312
I-13 Grants and similar amounts paidPrior year $8,026$6,762
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $274,627$313,808
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $129,682$159,583
I-18 Total expensesPrior year $412,335$480,153
I-19 Revenue less expensesPrior year $10,831$2,159
Part VI · Governance 21 of 21 board members independent, 2 to look at
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $482,312 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $110,467$110,467
VIII-5 RoyaltiesExcluded from tax $2,490$2,490
VIII-6 Net rental income or lossExcluded from tax $13,500$13,500
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $349,544 · Excluded from tax $6,311$355,855
VIII-12 Total revenueRelated to mission $110,467 · Unrelated business $349,544 · Excluded from tax $22,301$482,312
Part IX · Statement of functional expenses $480,153 across 12 lines filed
IX-1 Grants to domestic organizations$6,762
IX-7 Other salaries and wages$285,614
IX-8 Pension plan contributions$6,259
IX-10 Payroll taxes$21,935
IX-11c Accounting fees$3,854
IX-12 Advertising and promotion$16,663
IX-13 Office expenses$27,908
IX-16 Occupancy$52,677
IX-19 Conferences, conventions and meetings$24,409
IX-22 Depreciation, depletion and amortization$29,171
IX-23 Insurance$1,633
IX-24 Other expenses (24a–d)$3,268
IX-25 Total functional expenses$480,153
Part X · Balance sheet $1,148,960 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,350$1,350
X-2 Savings and temporary cash investmentsStart of year $299,812$301,117
X-4 Accounts receivable$0
X-10c Land, buildings and equipment, netStart of year $857,156$844,193
X-15 Other assetsStart of year $2,300$2,300
X-16 Total assetsStart of year $1,160,618$1,148,960
X-17 Accounts payable and accrued expensesStart of year $35,082$24,605
X-19 Deferred revenueStart of year $39,657$36,317
X-26 Total liabilitiesStart of year $74,739$60,922
X-32 Total net assets or fund balancesStart of year $1,085,879$1,088,038
X-33 Total liabilities and net assetsStart of year $1,160,618$1,148,960
Part XI · Reconciliation of net assets $1,088,038 net assets at year end
XI-1 Total revenue$482,312
XI-2 Total expenses$480,153
XI-3 Revenue less expenses$2,159
XI-4 Net assets at start of year$1,085,879
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,088,038

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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