Form 990 for tax year 2022
Filed by KENTUCKY FARM BUREAU EDUCATION FOUNDATION INC.
Totals
- Total revenue
- $1,205,520
- Total expenses
- $1,961,466
- Contributions and grants received
- $1,165,021
- Grants paid
- $1,955,608
- Program service revenue
- $0
- Investment income
- $1,437
- Other revenue
- $39,062
- Total assets, end of year
- $422,797
- Total liabilities, end of year
- $55,651
- Net assets or fund balances, end of year
- $367,146
- Program services expenses (Part IX)
- $1,955,608
- Management and general expenses
- $5,858
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,955,608
Program services were 99.7% 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.
-
1c · Fundraising events
$23,000
-
1f · All other contributions, gifts and grants
$1,142,021
-
3 · Investment income
total $1,437 · excluded $1,437
-
8a · Fundraising events: gross income
$76,552
-
8a · Fundraising events: contributions included on line 1c
$23,000
-
8b · Fundraising events: direct expenses
$38,509
-
8c · Net income from fundraising events
total $38,043 · excluded $38,043
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $1,019 · related or exempt $1,019
-
11e · Other revenue, total
$1,019
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $412,141 · program services $412,141
-
2 · Grants to domestic individuals
total $1,543,467 · program services $1,543,467
-
11c · Fees: accounting
total $5,533 · management and general $5,533
-
13 · Office expenses
total $295 · management and general $295
-
24a · Other expenses: TAXES & LICENSES
total $30 · management and general $30
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $790,728 · end of year $14,648
-
2 · Savings and temporary cash investments
beginning of year $373,139 · end of year $374,155
-
4 · Accounts receivable
beginning of year $35,410 · end of year $33,994
-
17 · Accounts payable and accrued expenses
beginning of year $76,185 · end of year $55,651
-
27 · Net assets without donor restrictions
beginning of year $1,123,092 · end of year $367,146
Mission and programs · 2022
Mission
PROVIDE FINANCIAL GRANTS FOR HIGHER EDUCATION AND PROMOTE AGRICULTURAL EDUCATION IN KY ELEMENTARY AND SECONDARY SCHOOLS.
-
EDUCATIONAL SCHOLARSHIPS AND AWARDS WERE GRANTED DURING 2022 TO APPROXIMATELY 120 APPROVED RECIPIENTS.
Expenses $186,345 · Grants $186,345
-
MINI GRANTS OF UP TO $500 EACH FOR AGRICULTURAL EXPERIENCE TOURS AND INFORMATION PROGRAMS FOR ELEMENTARY AND SECONDARY SCHOOL STUDENTS. THERE WERE PAYMENTS TO 6 COUNTY FARM BUREAUS IN 2022.
Expenses $3,000 · Grants $3,000
-
DONATIONS WERE RECEIVED FOR FARMERS IMPACTED BY CATASTROHPIC TORNADOS IN WESTERN KENTUCKY IN DECEMBER 2021. THIS PROGRAM ALLOWED IMPACTED FARMERS TO GO DIRECTLY TO RETAILERS AND OBTAIN SUPPLIES THEY NEEDED, UP TO $1,500 PER FARMER, TO BEGIN REBUILDING. THE RETAILERS WERE THEN REIMBURSED BY THE ORGANIZATION. IN ADDITION, APPROX. $115K WAS DONATED TO THE UNIVERSITY OF KENTUCKY FOR THE REBUILDING OF THE GRAIN AND FORAGE CENTER OF EXCELLENCE IN PRINCETON, KY.
Expenses $1,357,122 · Grants $1,357,122
-
DONATIONS WERE RECEVIED FOR KENTUCKIANS IMPACTED BY CATASTROPHIC FLOODS IN EASTERN KENTUCKY IN MARCH 2022. THESE EXPENSES WERE DONATIONS TO THREE ORGANIZATIONS WHOSE EFFORTS ARE FOCUSED ON PROVIDING FOOD, CLOTHING, AND OTHER SUPPORT TO AFFECTED INDIVIDUALS.
Expenses $409,141 · Grants $409,141
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Alex BarnettALEX BARNETT
DIRECTOR
- Total calculated
- $11,493
- From this org
- $0
- From related orgs
- $8,150
- Other
- $3,343
- Hours/week
- 0.5 + 2 related
-
Cloyce Warren HinkleCLOYCE WARREN HINKLE
DIRECTOR
- Total calculated
- $9,861
- From this org
- $0
- From related orgs
- $4,650
- Other
- $5,211
- Hours/week
- 0.5 + 2 related
-
David McGloneDAVID MCGLONE
DIRECTOR
- Total calculated
- $6,950
- From this org
- $0
- From related orgs
- $6,950
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Eddie MeltonEDDIE MELTON
FIRST VICE PRESIDENT
- Total calculated
- $128,895
- From this org
- $0
- From related orgs
- $111,505
- Other
- $17,390
- Hours/week
- 1 + 18 related
-
Glenn HowellGLENN HOWELL
DIRECTOR
- Total calculated
- $7,550
- From this org
- $0
- From related orgs
- $7,550
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
J Scott DavisJ SCOTT DAVIS
DIRECTOR
- Total calculated
- $26,671
- From this org
- $0
- From related orgs
- $4,650
- Other
- $22,021
- Hours/week
- 0.5 + 2 related
-
Joe Paul MattinglyJOE PAUL MATTINGLY
DIRECTOR
- Total calculated
- $31,628
- From this org
- $0
- From related orgs
- $0
- Other
- $31,628
- Hours/week
- 0.5 + 2 related
-
Kelly ThurmanKELLY THURMAN
DIRECTOR (TERM ENDED 12/3/22)
- Total calculated
- $6,350
- From this org
- $0
- From related orgs
- $6,350
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Larry ClarkLARRY CLARK
DIRECTOR
- Total calculated
- $10,150
- From this org
- $0
- From related orgs
- $10,150
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Larry ThomasLARRY THOMAS
DIRECTOR
- Total calculated
- $24,553
- From this org
- $0
- From related orgs
- $0
- Other
- $24,553
- Hours/week
- 0.5 + 2 related
-
Mark HaneyMARK HANEY
PRESIDENT
- Total calculated
- $154,918
- From this org
- $0
- From related orgs
- $142,630
- Other
- $12,288
- Hours/week
- 1 + 20 related
Schedule J breakdown matched by us
- Base
- $0 + $142,630 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $12,288 related
- Nontaxable benefits
- $0
- Filer's total
- $0 + $154,918 related
-
Mark KinseyMARK KINSEY
DIRECTOR
- Total calculated
- $11,350
- From this org
- $0
- From related orgs
- $11,350
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Marshall CoyleMARSHALL COYLE
PAST PRESIDENT
- Total calculated
- $9,757
- From this org
- $0
- From related orgs
- $4,950
- Other
- $4,807
- Hours/week
- 0.5 + 2 related
-
Mary Kate KordesMARY KATE KORDES
DIRECTOR
- Total calculated
- $22,285
- From this org
- $0
- From related orgs
- $22,285
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Mitchel LogsdonMITCHEL LOGSDON
DIRECTOR
- Total calculated
- $23,285
- From this org
- $0
- From related orgs
- $23,285
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Pj MilburnPJ MILBURN
DIRECTOR
- Total calculated
- $20,085
- From this org
- $0
- From related orgs
- $20,085
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Ray Allan MackeyRAY ALLAN MACKEY
DIRECTOR
- Total calculated
- $20,735
- From this org
- $0
- From related orgs
- $20,735
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Scott BarnesSCOTT BARNES
DIRECTOR
- Total calculated
- $18,885
- From this org
- $0
- From related orgs
- $18,885
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Shane WisemanSHANE WISEMAN
DIRECTOR
- Total calculated
- $40,962
- From this org
- $0
- From related orgs
- $29,050
- Other
- $11,912
- Hours/week
- 0.5 + 2 related
-
Sharon FurchesSHARON FURCHES
SECOND VICE PRESIDENT
- Total calculated
- $119,605
- From this org
- $0
- From related orgs
- $119,605
- Other
- $0
- Hours/week
- 1 + 18 related
-
Stewart HughesSTEWART HUGHES
DIRECTOR
- Total calculated
- $21,885
- From this org
- $0
- From related orgs
- $21,885
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Tammy WhiteTAMMY WHITE
DIRECTOR
- Total calculated
- $9,350
- From this org
- $0
- From related orgs
- $9,350
- Other
- $0
- Hours/week
- 0.5
-
Terry LawsonTERRY LAWSON
DIRECTOR
- Total calculated
- $7,550
- From this org
- $0
- From related orgs
- $7,550
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Tim GoodlettTIM GOODLETT
DIRECTOR
- Total calculated
- $25,285
- From this org
- $0
- From related orgs
- $25,285
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Todd BrockTODD BROCK
DIRECTOR
- Total calculated
- $16,735
- From this org
- $0
- From related orgs
- $16,735
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Tyler FergusonTYLER FERGUSON
DIRECTOR
- Total calculated
- $23,285
- From this org
- $0
- From related orgs
- $23,285
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Victor RexroatVICTOR REXROAT
DIRECTOR
- Total calculated
- $25,485
- From this org
- $0
- From related orgs
- $25,485
- Other
- $0
- Hours/week
- 0.5 + 2 related
-
Zach IsonZACH ISON
DIRECTOR
- Total calculated
- $20,035
- From this org
- $0
- From related orgs
- $20,035
- Other
- $0
- Hours/week
- 0.5
-
Drew GrahamDREW GRAHAM
EXECUTIVE OFFICER
- Total calculated
- $514,039
- From this org
- $0
- From related orgs
- $471,655
- Other
- $42,384
- Hours/week
- 1 + 40 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
-
UNIVERSITY OF KENTUCKY
$115,342
DISASTER RELIEF
-
$98,933
DISASTER RELIEF
-
$98,933
DISASTER RELIEF
-
MOUNTAIN CATTLEMAN ASSOCIATION
$98,933
DISASTER RELIEF
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.
-
KENTUCKY FARM BUREAU FEDERATION
501(C)(5) · MEMBERSHIP ORGANIZATION · KY
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.
-
KENTUCKY FARM BUREAU DEVELOPMENT CORPORATION
C · GROUP PURCH · KY
-
KENTUCKY FARM BUREAU INVESTMENT CORPORATION
C · INVESTMENT · KY
-
KENTUCKY FARM BUREAU MANAGEMENT CORPORATION
C · MANAGEMENT SERVICE · KY
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 30 October 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323059349301867
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