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Agcarefirst FY2021 filing

Raleigh, NCUnknown exempt organization EIN 82-4689191Revenue $20.4M in FY2021Latest return filed Jan 30, 2025

On file with the IRSRaleigh, NC

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Agcarefirst trust provides health benefits to the employees of participating employers, all of whom are engaged in the agricultural industry in the states of north carolina, south carolina and virginia and are members of the north carolina farm bureau federation.

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 82-4689191) · Dispute this line
Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
The latest return is for FY2023, 3 tax years back.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average surplus $149K a year · 1% of revenue · last 4 filings
A surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
0% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
0.9 mo
of spending, in cash
Plus $4.3M in investments, Pt X · Ln 11–13
0.9 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.8M
29% of total assets
Liabilities are 29% of assets.
Pt X · Ln 26
Independent board members
5
of 5 voting members
5 of 5 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$20.4M
-6% vs prior year
Spent
$21.7M
To programs
0%
Net assets
$4.4M
By yearFY2020–FY2023
Revenue
$20.4M
FY2021▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2020$21.6M
FY2021$20.4M
FY2022−$210K
FY2023$2K
Expenses
$21.7M
FY2021▲ +14%
Tap a bar for its year
Expenses by fiscal year
FY2020$19.0M
FY2021$21.7M
FY2022$418K
FY2023$37K
Net assets
$4.4M
FY2021▼ -29%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.2M
FY2021$4.4M
FY2022$4.5M
FY2023$0

From the FY2021 Form 990 · see the original

990 PDF Follow Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2023) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation
Brian Greene
Director
$0Pt VII · Sec A
Chad Harris
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Paul Sherman
Chairman
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Agcarefirst executive salaries →

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

Provides health benefits to agricultural workers in North Carolina, South Carolina, and Virginia.

Questions for Agcarefirst

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Your first name shows with your question. Agcarefirst answers here, for everyone.

2 programs · in their own filed words · FY2021
01

Agcarefirst trust provides health benefits to the employees of participating employers, all of whom are engaged in the agricultural industry in the states of north carolina, south carolina and virginia and are members of north carolina farm bureau federation. Health claims incurred was 19,714,428

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 82-4689191) · Dispute this line
Pt IX · Ln 25 · col B
02

Administrative, consulting and commissions.

Form 990 Part III, line 4, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 82-4689191) · Dispute this line
Pt IX · Ln 25 · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$20.4M
Ln 12
Gifts and grantsLn 1h$20.2M
Investment incomeLn 3$148K
Money outPt IX
$21.7M
Ln 25
Owns and owesPt X
$4.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$6.2M
LiabilitiesLn 26$1.8M
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$20.2M
Investment incomeLn 3$148K
Gains on assetsLn 7−$2K
Total revenueLn 12$20.4M
Assets in detailPt X, end of year
CashLn 1$1.6M
Cash and savings togetherLn 1–2$1.6M
Accounts receivableLn 4$266K
InvestmentsLn 11–13$4.3M
Total assetsLn 16$6.2M
LiabilitiesLn 26$1.8M
Net assetsLn 32$4.4M
OperationsPt I, VI
EmployeesI 50
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 FY21End FY21
Cash and savingsLn 1–2$3.3M$1.6M
InvestmentsLn 11–13$4.3M$4.3M
Total assetsLn 16$8.0M$6.2M
LiabilitiesLn 26$1.8M$1.8M
Net assetsLn 32$6.2M$4.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$152K
Lobbying feesLn 11d$48K
InsuranceLn 23$8K
Other expenses (24a–d)Ln 24$21.5M
Total functional expensesLn 25$21.7M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 LatestFiled with the IRS Jan 30, 2025 $2K$37K−$35K$0 990 PDF
FY2022Filed with the IRS Nov 14, 2023 −$210K$418K−$627K$4.5M 990 PDF
FY2021 ViewingFiled with the IRS Nov 14, 2022 $20.4M$21.7M−$1.3M$4.4M 990 PDF
FY2020Filed with the IRS Nov 12, 2021 $21.6M$19.0M$2.6M$6.2M 990 PDF

Schedules filed Part IV

I · Grants O · Explanations
See the full FY2021 990
Part I · Summary $20,386,807 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $21,478,090$20,240,663
I-9 Program service revenue$0
I-10 Investment incomePrior year $144,174$146,144
I-11 Other revenue$0
I-12 Total revenuePrior year $21,622,264$20,386,807
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $19,046,592$21,702,110
I-18 Total expensesPrior year $19,046,592$21,702,110
I-19 Revenue less expensesPrior year $2,575,672−$1,315,303
Part VI · Governance 5 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $20,386,807 across 5 lines filed
VIII-1f All other contributions, gifts and grants$20,240,663
VIII-1h Total contributions, gifts and grants$20,240,663
VIII-3 Investment incomeExcluded from tax $148,154$148,154
VIII-7 Net gain or loss on sales of assetsRelated to mission −$2,010−$2,010
VIII-12 Total revenueRelated to mission −$2,010 · Excluded from tax $148,154$20,386,807
Part IX · Statement of functional expenses $21,702,110 across 4 lines filed
IX-11a Management fees$151,923
IX-11d Lobbying fees$48,028
IX-23 Insurance$8,430
IX-24 Other expenses (24a–d)$21,493,729
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$21,702,110
Part X · Balance sheet $6,154,619 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $3,261,639$1,581,605
X-4 Accounts receivableStart of year $471,519$265,708
X-11 Publicly traded securitiesStart of year $4,273,942$4,307,306
X-16 Total assetsStart of year $8,007,100$6,154,619
X-17 Accounts payable and accrued expensesStart of year $233,944$200,896
X-25 Other liabilitiesStart of year $1,560,027$1,562,252
X-26 Total liabilitiesStart of year $1,793,971$1,763,148
X-30 Paid-in or capital surplusStart of year $4,923,379$4,923,379
X-31 Retained earnings or endowmentStart of year $1,289,750−$531,908
X-32 Total net assets or fund balancesStart of year $6,213,129$4,391,471
X-33 Total liabilities and net assetsStart of year $8,007,100$6,154,619
Part XI · Reconciliation of net assets $4,391,471 net assets at year end
XI-1 Total revenue$20,386,807
XI-2 Total expenses$21,702,110
XI-3 Revenue less expenses−$1,315,303
XI-4 Net assets at start of year$6,213,129
XI-5 Net unrealized gains (losses) on investments−$506,355
XI-10 Net assets at end of year$4,391,471

Form 990 e-file FY2021 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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