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Nonprofiteer
← KENTUCKY FARM BUREAU EDUCATION FOUNDATION INC

Form 990 for tax year 2023

Filed by KENTUCKY FARM BUREAU EDUCATION FOUNDATION INC.

Totals

Total revenue
$203,031
Total expenses
$198,965
Contributions and grants received
$148,050
Grants paid
$191,500
Program service revenue
$0
Investment income
$3,590
Other revenue
$51,391
Total assets, end of year
$458,837
Total liabilities, end of year
$85,000
Net assets or fund balances, end of year
$373,837
Program services expenses (Part IX)
$192,745
Management and general expenses
$6,220
Fundraising expenses
$0
Program service expenses (Part III)
$192,745

Program services were 96.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

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.

  • 1f · All other contributions, gifts and grants

    $148,050

  • 3 · Investment income

    total $3,590 · excluded $3,590

  • 8a · Fundraising events: gross income

    $83,244

  • 8b · Fundraising events: direct expenses

    $31,853

  • 8c · Net income from fundraising events

    total $51,391 · excluded $51,391

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,500 · program services $4,500

  • 2 · Grants to domestic individuals

    total $187,000 · program services $187,000

  • 11c · Fees: accounting

    total $5,945 · management and general $5,945

  • 24a · Other expenses: MISCELLANEOUS

    total $1,520 · program services $1,245 · management and general $275

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,648 · end of year $46,973

  • 2 · Savings and temporary cash investments

    beginning of year $374,155 · end of year $374,370

  • 4 · Accounts receivable

    beginning of year $33,994 · end of year $37,494

  • 17 · Accounts payable and accrued expenses

    beginning of year $55,651 · end of year $85,000

  • 27 · Net assets without donor restrictions

    beginning of year $367,146 · end of year $373,837

Mission and programs · 2023

Mission

PROVIDE FINANCIAL GRANTS FOR HIGHER EDUCATION AND PROMOTE AGRICULTURAL EDUCATION IN KY ELEMENTARY AND SECONDARY SCHOOLS.

  • EDUCATIONAL SCHOLARSHIPS AND AWARDS WERE GRANTED DURING 2023 TO APPROXIMATELY 120 APPROVED RECIPIENTS.

    Expenses $188,245 · Grants $187,000

  • MINI GRANTS OF UP TO $500 EACH FOR AGRICULTURAL EXPERIENCE TOURS AND INFORMATION PROGRAMS FOR ELEMENTARY AND SECONDARY SCHOOL STUDENTS. THERE WERE PAYMENTS TO 9 COUNTY FARM BUREAUS IN 2023.

    Expenses $4,500 · Grants $4,500

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ALEX BARNETT

    DIRECTOR

    Total calculated
    $12,402
    From this org
    $0
    From related orgs
    $6,550
    Other
    $5,852
    Hours/week
    0.5 + 1.5 related

  • CLOYCE WARREN HINKLE

    DIRECTOR

    Total calculated
    $11,976
    From this org
    $0
    From related orgs
    $5,050
    Other
    $6,926
    Hours/week
    0.5 + 1.5 related

  • DAVID MCGLONE

    DIRECTOR

    Total calculated
    $7,750
    From this org
    $0
    From related orgs
    $7,750
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • EDDIE MELTON

    FIRST VICE PRESIDENT

    Total calculated
    $155,419
    From this org
    $0
    From related orgs
    $124,980
    Other
    $30,439
    Hours/week
    1 + 17 related

    Schedule J breakdown matched by us

    Base
    $0 + $111,505 related
    Bonus
    $0
    Other
    $0 + $13,475 related
    Deferred
    $0 + $30,439 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $155,419 related

  • GLENN HOWELL

    DIRECTOR

    Total calculated
    $11,750
    From this org
    $0
    From related orgs
    $11,750
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • J SCOTT DAVIS

    DIRECTOR

    Total calculated
    $26,520
    From this org
    $0
    From related orgs
    $0
    Other
    $26,520
    Hours/week
    0.5 + 1.5 related

  • JOE PAUL MATTINGLY

    DIRECTOR

    Total calculated
    $28,016
    From this org
    $0
    From related orgs
    $0
    Other
    $28,016
    Hours/week
    0.5 + 1.5 related

  • LARRY CLARK

    DIRECTOR

    Total calculated
    $16,850
    From this org
    $0
    From related orgs
    $16,850
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • LARRY THOMAS

    DIRECTOR

    Total calculated
    $29,325
    From this org
    $0
    From related orgs
    $0
    Other
    $29,325
    Hours/week
    0.5 + 1.5 related

  • MARK HANEY

    PRESIDENT

    Total calculated
    $165,067
    From this org
    $0
    From related orgs
    $143,515
    Other
    $21,552
    Hours/week
    1 + 19 related

    Schedule J breakdown matched by us

    Base
    $0 + $142,630 related
    Bonus
    $0
    Other
    $0 + $885 related
    Deferred
    $0 + $21,552 related
    Nontaxable benefits
    $0
    Filer's total
    $0 + $165,067 related

  • MARK KINSEY

    DIRECTOR

    Total calculated
    $8,550
    From this org
    $0
    From related orgs
    $8,550
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • MARSHALL COYLE

    PAST PRESIDENT UNTIL 12/2

    Total calculated
    $13,564
    From this org
    $0
    From related orgs
    $5,150
    Other
    $8,414
    Hours/week
    0.5 + 1.5 related

  • MARY KATE KORDES

    DIRECTOR

    Total calculated
    $21,247
    From this org
    $0
    From related orgs
    $21,247
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • MITCHEL LOGSDON

    DIRECTOR

    Total calculated
    $28,447
    From this org
    $0
    From related orgs
    $28,447
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • PJ MILBURN

    DIRECTOR

    Total calculated
    $18,447
    From this org
    $0
    From related orgs
    $18,447
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • RAY ALLAN MACKEY

    DIRECTOR

    Total calculated
    $21,447
    From this org
    $0
    From related orgs
    $21,447
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • SCOTT BARNES

    DIRECTOR

    Total calculated
    $18,447
    From this org
    $0
    From related orgs
    $18,447
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • SHANE WISEMAN

    DIRECTOR

    Total calculated
    $41,272
    From this org
    $0
    From related orgs
    $26,125
    Other
    $15,147
    Hours/week
    1 + 17 related

  • SHARON FURCHES

    SECOND VICE PRESIDENT

    Total calculated
    $100,015
    From this org
    $0
    From related orgs
    $100,015
    Other
    $0
    Hours/week
    1 + 17 related

  • STEWART HUGHES

    DIRECTOR

    Total calculated
    $21,447
    From this org
    $0
    From related orgs
    $21,447
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • TAMMY WHITE

    DIRECTOR

    Total calculated
    $16,547
    From this org
    $0
    From related orgs
    $16,547
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • TERRY LAWSON

    DIRECTOR

    Total calculated
    $8,950
    From this org
    $0
    From related orgs
    $8,950
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • TIM GOODLETT

    DIRECTOR

    Total calculated
    $26,847
    From this org
    $0
    From related orgs
    $26,847
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • TODD BROCK

    DIRECTOR

    Total calculated
    $22,247
    From this org
    $0
    From related orgs
    $22,247
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • TYLER FERGUSON

    DIRECTOR

    Total calculated
    $22,597
    From this org
    $0
    From related orgs
    $22,597
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • VICTOR REXROAT

    DIRECTOR

    Total calculated
    $24,647
    From this org
    $0
    From related orgs
    $24,647
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • ZACH ISON

    DIRECTOR

    Total calculated
    $20,447
    From this org
    $0
    From related orgs
    $20,447
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • DAVID TAYLOR

    DIRECTOR BEGINNING 12/2

    Total calculated
    $600
    From this org
    $0
    From related orgs
    $600
    Other
    $0
    Hours/week
    0.5 + 1.5 related

  • DREW GRAHAM

    EXECUTIVE OFFICER

    Total calculated
    $514,039
    From this org
    $0
    From related orgs
    $471,655
    Other
    $42,384
    Hours/week
    1 + 37.5 related

    Schedule J breakdown matched by us

    Base
    $0 + $333,861 related
    Bonus
    $0 + $129,750 related
    Other
    $0 + $8,044 related
    Deferred
    $0 + $27,000 related
    Nontaxable benefits
    $0 + $15,384 related
    Filer's total
    $0 + $514,039 related

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

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
5 November 2024
IRS schema version
2023v5.1
Source object
202413169349304716

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