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Nonprofiteer
← FARM CREDIT COUNCIL

Form 990 for tax year 2023

Filed by FARM CREDIT COUNCIL.

Totals

Total revenue
$13,330,987
Total expenses
$12,704,193
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$13,248,012
Investment income
$82,975
Other revenue
$0
Total assets, end of year
$31,061,340
Total liabilities, end of year
$6,292,546
Net assets or fund balances, end of year
$24,768,794
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $10,240,743 · related or exempt $10,240,743

  • 2b · Program service revenue: REGISTRATION INCOME

    total $2,989,969 · related or exempt $2,989,969

  • 2c · Program service revenue: SPONSORSHIP REVENUE

    total $17,300 · related or exempt $17,300

  • 3 · Investment income

    total $99,385 · excluded $99,385

  • 7a · Gross sales of assets other than inventory

    securities $16,256,794

  • 7b · Less cost or other basis and sales expenses

    securities $16,273,204

  • 7c · Gain or loss

    securities -$16,410

  • 7d · Net gain or loss

    total -$16,410 · excluded -$16,410

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $3,742,233

  • 7 · Other salaries and wages

    total $1,167,808

  • 9 · Other employee benefits

    total $215,565

  • 10 · Payroll taxes

    total $233,299

  • 11b · Fees: legal

    total $168,344

  • 11f · Fees: investment management

    total $14,545

  • 11g · Fees: other

    total $1,467,431

  • 13 · Office expenses

    total $74,832

  • 16 · Occupancy

    total $324,982

  • 17 · Travel

    total $1,104,812

  • 19 · Conferences, conventions and meetings

    total $1,778,305

  • 22 · Depreciation, depletion and amortization

    total $33,390

  • 23 · Insurance

    total $9,666

  • 24a · Other expenses: PUBLIC RELATIONS & DUES

    total $2,193,926

  • 24b · Other expenses: SUBSCRIPTIONS AND PUBLI

    total $80,214

  • 24c · Other expenses: BANK FEES

    total $35,765

  • 24d · Other expenses: TRAINING

    total $29,094

  • 24e · All other expenses

    total $29,982

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,422,361 · end of year $1,146,230

  • 2 · Savings and temporary cash investments

    beginning of year $104,410 · end of year $1,400,561

  • 4 · Accounts receivable

    beginning of year $356,309 · end of year $75,605

  • 5 · Loans and receivables from officers and key people

    beginning of year $2,297,255 · end of year $2,177,055

  • 9 · Prepaid expenses and deferred charges

    beginning of year $235,058 · end of year $377,154

  • 10a · Land, buildings and equipment: cost or other basis

    $871,460

  • 10b · Land, buildings and equipment: accumulated depreciation

    $581,695

  • 10c · Land, buildings and equipment, net

    beginning of year $298,148 · end of year $289,765

  • 11 · Investments: publicly traded securities

    beginning of year $5,211,799 · end of year $5,545,664

  • 15 · Other assets

    beginning of year $18,887,980 · end of year $20,049,306

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,552,875 · end of year $1,564,999

  • 19 · Deferred revenue

    beginning of year $3,184,145 · end of year $345,350

  • 25 · Other liabilities

    beginning of year $4,841,498 · end of year $4,382,197

  • 27 · Net assets without donor restrictions

    beginning of year $23,234,802 · end of year $24,768,794

Mission and programs · 2023

Mission

REPRESENT THE LEGISLATIVE AND REGULATORY INTERESTS OF THE FARM CREDIT SYSTEM. THE FARM CREDIT SYSTEM IS A NATIONWIDE NETWORK OF COOPERATIVELY-OWNED BANKS AND ASSOCIATIONS THAT PROVIDE CREDIT AND RELATED SERVICES TO AGRICULTURE AND RURAL COMMUNITIES.

Activities or mission (Part I)

REPRESENT THE LEGISLATIVE AND REGULATORY INTERESTS OF COOPERATIVE FARM LENDERS.

  • MONITORING AND INFORMING MEMBERS OF PROPOSED LEGISLATION BEFORE FEDERAL OR STATE LEGISLATIVE BODIES OF PROPOSED ACTIONS, POLICIES, RULINGS, OR REGULATIONS OF ANY FEDERAL OR STATE AGENCY OR ADMINISTRATIVE BODY, AND OF ANY OTHER MATTERS, WHICH MAY AFFECT THE SYSTEM.

  • PRESENTING THE VIEWS OF ITS MEMBERS TO FEDERAL OR STATE LEGISLATORS, REGULATORY OFFICIALS, OTHER GOVERNMENT OFFICIALS, AND THE PUBLIC ON MATTERS WHICH MAY AFFECT THE SYSTEM.

  • PROVIDING IMPROVED COMMUNICATION AMONG ITS MEMBERS AND BETWEEN ITS MEMBERS AND THE PUBLIC, INCLUDING THE COLLECTION OF INFORMATION FROM AND THE DISTRIBUTION OF INFORMATION TO ITS MEMBERS AND THE PUBLIC.

As filed on the 2023 return.

Listed in Part VII

  • Jon E Marthedal

    CHAIR

    Total calculated
    $35,060
    From this org
    $35,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Michael Stone

    VICE CHAIR

    Total calculated
    $37,567
    From this org
    $37,567
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Jenny Black

    DIRECTOR

    Total calculated
    $34,665
    From this org
    $34,665
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Laura Braun

    DIRECTOR

    Total calculated
    $35,800
    From this org
    $35,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dan Childs

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Stan Claussen

    DIRECTOR

    Total calculated
    $35,060
    From this org
    $35,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • James F Dodson

    DIRECTOR

    Total calculated
    $35,060
    From this org
    $35,060
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Mark Ellison

    DIRECTOR

    Total calculated
    $34,075
    From this org
    $34,075
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Duane Mark Gray

    DIRECTOR

    Total calculated
    $34,464
    From this org
    $34,464
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Herbert R Holzapfel

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • William Jackson

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • David Kragnes

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • John Kuegel Jr

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Chad Lee

    DIRECTOR

    Total calculated
    $34,170
    From this org
    $34,170
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Catherine Moyer

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jennifer Rhodes

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Scott Bell

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Peter Triandafillou

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Brandon Wittman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    6

  • David Haase

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Chris Roberts

    DIRECTOR

    Total calculated
    $26,643
    From this org
    $26,643
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Tim Rowe

    DIRECTOR

    Total calculated
    $34,314
    From this org
    $34,314
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jennifer Zessin

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Larry Todd Van Hoose

    PRESIDENT & CEO

    Total calculated
    $1,015,489
    From this org
    $935,475
    From related orgs
    $0
    Other
    $80,014
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $588,675
    Bonus
    $346,800
    Other
    $0
    Deferred
    $52,200
    Nontaxable benefits
    $27,814
    Filer's total
    $1,015,489

  • William Jeffry Shipp

    EXECUTIVE VP - GOVERNMENT

    Total calculated
    $260,892
    From this org
    $260,892
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $260,892
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $260,892

  • Deborah Garrett Wing

    EXECUTIVE VP - COMMUNICATI

    Total calculated
    $469,676
    From this org
    $416,116
    From related orgs
    $0
    Other
    $53,560
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $359,784
    Bonus
    $56,332
    Other
    $0
    Deferred
    $37,808
    Nontaxable benefits
    $15,752
    Filer's total
    $469,676

  • Brad Langan

    TREASURER

    Total calculated
    $329,778
    From this org
    $0
    From related orgs
    $280,849
    Other
    $48,929
    Hours/week
    8 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $219,130 related
    Bonus
    $0 + $61,719 related
    Other
    $0
    Deferred
    $0 + $23,327 related
    Nontaxable benefits
    $0 + $25,602 related
    Filer's total
    $0 + $329,778 related

  • Robert P Boone

    SENIOR VP, REG AFFAIRS & G

    Total calculated
    $514,870
    From this org
    $414,364
    From related orgs
    $0
    Other
    $100,506
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $347,804
    Bonus
    $66,560
    Other
    $0
    Deferred
    $58,462
    Nontaxable benefits
    $42,044
    Filer's total
    $514,870

  • Gary Matteson

    SENIOR VP, BEG FARMER PROG

    Total calculated
    $410,675
    From this org
    $320,295
    From related orgs
    $0
    Other
    $90,380
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $272,542
    Bonus
    $47,753
    Other
    $0
    Deferred
    $59,245
    Nontaxable benefits
    $31,135
    Filer's total
    $410,675

  • Jeanette Mesirow

    SENIOR VP, GOVERNMENT AFFA

    Total calculated
    $322,141
    From this org
    $274,830
    From related orgs
    $0
    Other
    $47,311
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $229,070
    Bonus
    $45,760
    Other
    $0
    Deferred
    $24,721
    Nontaxable benefits
    $22,590
    Filer's total
    $322,141

  • Mark Hayes

    VP EXTERNAL COMMUNICATIONS

    Total calculated
    $230,913
    From this org
    $212,041
    From related orgs
    $0
    Other
    $18,872
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,250
    Bonus
    $29,791
    Other
    $0
    Deferred
    $18,872
    Nontaxable benefits
    $0
    Filer's total
    $230,913

  • Brittany Simpson

    VP PUBLIC POLICY STAKEHOLD

    Total calculated
    $244,449
    From this org
    $217,192
    From related orgs
    $0
    Other
    $27,257
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $182,782
    Bonus
    $34,410
    Other
    $0
    Deferred
    $19,665
    Nontaxable benefits
    $7,592
    Filer's total
    $244,449

  • Skylar Sowder

    VP GOVERNMENT AFFAIRS

    Total calculated
    $273,128
    From this org
    $237,477
    From related orgs
    $0
    Other
    $35,651
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,397
    Bonus
    $37,080
    Other
    $0
    Deferred
    $21,588
    Nontaxable benefits
    $14,063
    Filer's total
    $273,128

  • Lucas Michele

    SR DIRECTOR, MEETINGS AND

    Total calculated
    $202,239
    From this org
    $161,022
    From related orgs
    $0
    Other
    $41,217
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,279
    Bonus
    $23,743
    Other
    $0
    Deferred
    $25,915
    Nontaxable benefits
    $15,302
    Filer's total
    $202,239

  • Suzanne Kluss Crawford

    OFFICE MANAGER AND EXECUTIVE ASSIST.

    Total calculated
    $173,041
    From this org
    $135,539
    From related orgs
    $0
    Other
    $37,502
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,539
    Bonus
    $0
    Other
    $0
    Deferred
    $12,366
    Nontaxable benefits
    $25,136
    Filer's total
    $173,041

  • Benjamin Duncanson

    SR DIRECTOR, ECONOMY AND POLICY

    Total calculated
    $183,958
    From this org
    $157,406
    From related orgs
    $0
    Other
    $26,552
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,906
    Bonus
    $25,500
    Other
    $0
    Deferred
    $14,459
    Nontaxable benefits
    $12,093
    Filer's total
    $183,958

  • Mary Streiffert

    DIRECTOR COMMUNICATIONS AND STAKEHOLDER RELATIONS

    Total calculated
    $133,334
    From this org
    $115,178
    From related orgs
    $0
    Other
    $18,156
    Hours/week
    40

  • Morgan Leigh Anderson

    SR. DIRECTOR OF DIGITAL COMM

    Total calculated
    $141,696
    From this org
    $128,569
    From related orgs
    $0
    Other
    $13,127
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A:
PAYMENT OF TRAVEL AND OTHER EXPENSES FOR BOARD SPOUSE ATTENDANCE AT THE ANNUAL MEETING ARE PAID BY THE COMPANY, AND ARE INCLUDED IN THE EMPLOYEE'S W-2, AS IS AUTHORIZED BY THE BOARD.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • FARM CREDIT POLITICAL ACTION COMMITTEE

    527 · POLITICAL · DC · controlled entity

    Directly controlled by THE FARM CREDIT COUNCIL

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • FARM CREDIT COUNCIL SERVICES INC

    C · RISK MANAGEMENT · CO · 100% owned · share of income $18,232,975 · share of assets $21,593,368 · controlled entity

    Directly controlled by FARM CREDIT COUNCIL

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202413189349310806

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