Form 990 for tax year 2024
Filed by NORTH CAROLINA FARM BUREAU R FLAKE SHAW MEMORIAL SCHOLARSHIP FUND INC.
Totals
- Total revenue
- $307,317
- Total expenses
- $143,844
- Contributions and grants received
- $144,488
- Grants paid
- $130,750
- Program service revenue
- $0
- Investment income
- $121,279
- Other revenue
- $41,550
- Total assets, end of year
- $3,092,014
- Total liabilities, end of year
- $2,000
- Net assets or fund balances, end of year
- $3,090,014
- Program services expenses (Part IX)
- $143,844
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $143,844
Program services were 100.0% 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
$144,488
-
3 · Investment income
total $121,279 · excluded $121,279
-
8a · Fundraising events: gross income
$69,150
-
8b · Fundraising events: direct expenses
$27,600
-
8c · Net income from fundraising events
total $41,550 · excluded $41,550
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $130,750 · program services $130,750
-
11c · Fees: accounting
total $2,000 · program services $2,000
-
11f · Fees: investment management
total $11,037 · program services $11,037
-
24a · Other expenses: BANK CHARGES
total $57 · program services $57
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $139,215 · end of year $475,785
-
2 · Savings and temporary cash investments
beginning of year $556,486 · end of year $303,001
-
11 · Investments: publicly traded securities
beginning of year $2,125,678 · end of year $2,313,228
-
25 · Other liabilities
end of year $2,000
-
27 · Net assets without donor restrictions
beginning of year $2,821,379 · end of year $3,090,014
Mission and programs · 2024
Mission
GRANTING EDUCATIONAL SCHOLARSHIPS TO DESERVING INDIVIDUALS IN THE FIELD OF AGRICULTURE AND LIFE SCIENCES. 38 INDIVIDUALS RECEIVED SCHOLARSHIPS.
-
GRANTING EDUCATIONAL SCHOLARSHIPS TO DESERVING INDIVIDUALS IN THE FIELD OF AGRICULTURE AND LIFE SCIENCES. 39 INDIVIDUALS RECEIVED SCHOLARSHIPS.
Expenses $143,844 · Grants $130,750
As filed on the 2024 return.
Listed in Part VII
-
W Shawn HardingW SHAWN HARDING
PRESIDENT
- Total calculated
- $438,406
- From this org
- $0
- From related orgs
- $344,740
- Other
- $93,666
Schedule J breakdown matched by us
- Base
- not reported + $344,740 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $78,027 related
- Nontaxable benefits
- not reported + $15,639 related
- Filer's total
- not reported + $438,406 related
-
Phillip J Parker JrPHILLIP J PARKER JR
SECTRETARY
- Total calculated
- $356,187
- From this org
- $0
- From related orgs
- $273,600
- Other
- $82,587
Schedule J breakdown matched by us
- Base
- not reported + $273,600 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $63,531 related
- Nontaxable benefits
- not reported + $19,056 related
- Filer's total
- not reported + $356,187 related
-
Matt CurrinMATT CURRIN
TREASURER
- Total calculated
- $323,666
- From this org
- $0
- From related orgs
- $243,070
- Other
- $80,596
- Hours/week
- 1
Schedule J breakdown matched by us
- Base
- not reported + $243,070 related
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported + $62,538 related
- Nontaxable benefits
- not reported + $18,058 related
- Filer's total
- not reported + $323,666 related
-
Elaine FryarELAINE FRYAR
DIRECTOR
- Total calculated
- $0
-
Kirk MathisKIRK MATHIS
DIRECTOR
- Total calculated
- $0
-
Jerry WyantJERRY WYANT
DIRECTOR
- Total calculated
- $0
-
Gwen PittGWEN PITT
DIRECTOR
- Total calculated
- $0
-
L M SimmonsL M SIMMONS
DIRECTOR
- Total calculated
- $0
-
Larry TaylorLARRY TAYLOR
DIRECTOR
- Total calculated
- $0
-
Richard WhitakerRICHARD WHITAKER
DIRECTOR
- Total calculated
- $0
-
Scott WhitfordSCOTT WHITFORD
VICE PRESIDE
- Total calculated
- $0
-
Harrell D OvermanHARRELL D OVERMAN
DIRECTOR
- Total calculated
- $0
-
Jackie Thompson SrJACKIE THOMPSON SR
DIRECTOR
- Total calculated
- $0
-
Donald SmartDONALD SMART
DIRECTOR
- Total calculated
- $0
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
- 3 · Approval by the board or compensation committee
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.
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501C 5 · MEMBERSHIP · NC
-
NC FARM BUREAU LEGAL FOUNDATION
501C 3 · LEGAL ASST · NC
-
NCFB FOUNDATION FOR AG IN CLAS
501C 3 · EDUCATION · NC
-
NC FARM BUREAU POLITICAL ACTION
527 · POLITICAL · NC
-
KEEP AG GROWING INC
527 · EDUCATION · NC
Directly controlled by NCFB
-
501C 3 · EDUCATION · NC
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.
-
NC FARM BUREAU SERVICE
C CORP · WHOLESALE · NC
-
NC FARM BUREAU INVESTMENTS
C CORP · INVESTMENT · NC
-
NC FARM BUREAU MUTUAL
C CORP · MUTUAL PRO · NC
-
NC FARM BUREAU INSURANCE
C CORP · INS BROKER · NC
-
FARM BUREAU INSURANCE
C CORP · STOCK INS · NC
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 13 November 2025
- IRS schema version
- 2024v5.0
- Source object
- 202533219349311373
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