Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $4,914,896

• 1f · All other contributions, gifts and grants

  $415,810

• 2a · Program service revenue: PUBLICATIONS

  total $519,187 · related or exempt $519,187

• 3 · Investment income

  total $1,508,030 · excluded $1,508,030

• 5 · Royalties

  total $3,352,200 · unrelated business $403,305 · excluded $2,948,895

• 7a · Gross sales of assets other than inventory

  securities $5,328,026 · other assets $172,500

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

  securities $4,877,737 · other assets $36,058

• 7c · Gain or loss

  securities $450,289 · other assets $136,442

• 7d · Net gain or loss

  total $586,731 · excluded $586,731

• 10a · Gross sales of inventory

  $28,288

• 10b · Cost of goods sold

  $29,156

• 10c · Net income from sales of inventory

  total -$868 · related or exempt -$868

• 11a · Other revenue: FEE FROM AFFILIATES

  total $182,183 · related or exempt $182,183

• 11b · Other revenue: SERVICE FEE AGREEMENT

  total $114,801 · unrelated business $114,801

• 11c · Other revenue: REBATES

  total $74,169 · unrelated business $74,169

• 11d · All other revenue

  total $64,479 · related or exempt $64,479

• 11e · Other revenue, total

  $435,632

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $166,227

• 5 · Compensation of officers, directors and key employees

  total $907,529

• 7 · Other salaries and wages

  total $3,881,761

• 8 · Pension plan contributions

  total $462,624

• 9 · Other employee benefits

  total $485,081

• 10 · Payroll taxes

  total $328,710

• 11b · Fees: legal

  total $22,846

• 11c · Fees: accounting

  total $24,535

• 11f · Fees: investment management

  total $7,880

• 11g · Fees: other

  total $165,494

• 12 · Advertising and promotion

  total $192,498

• 13 · Office expenses

  total $169,125

• 14 · Information technology

  total $204,419

• 16 · Occupancy

  total $218,277

• 17 · Travel

  total $554,437

• 19 · Conferences, conventions and meetings

  total $745,545

• 22 · Depreciation, depletion and amortization

  total $325,238

• 23 · Insurance

  total $18,020

• 24a · Other expenses: CORPORATE INCOME TAXES

  total $117,243

• 24b · Other expenses: MEMBER PUBLICATIONS

  total $852,907

• 24c · Other expenses: YOUNG FARMER PROGRAM

  total $225,887

• 24d · Other expenses: MEMBERSHIP BILLING EXPE

  total $206,063

• 24e · All other expenses

  total $829,294

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,931,807 · end of year $5,373,563

• 2 · Savings and temporary cash investments

  beginning of year $5,890,435 · end of year $6,010,237

• 4 · Accounts receivable

  beginning of year $81,387 · end of year $96,238

• 7 · Other notes and loans receivable

  beginning of year $200,000 · end of year $200,000

• 8 · Inventories for sale or use

  beginning of year $13,657 · end of year $26,387

• 9 · Prepaid expenses and deferred charges

  beginning of year $210,764 · end of year $275,992

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

  $2,924,011

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

  $1,313,180

• 10c · Land, buildings and equipment, net

  beginning of year $1,045,086 · end of year $1,610,831

• 11 · Investments: publicly traded securities

  beginning of year $7,569,393 · end of year $7,832,516

• 12 · Investments: other securities

  beginning of year $2,504,000 · end of year $2,504,000

• 15 · Other assets

  beginning of year $23,891 · end of year $29,754

• 17 · Accounts payable and accrued expenses

  beginning of year $1,934,299 · end of year $2,149,243

• 25 · Other liabilities

  beginning of year $2,804,857 · end of year $2,791,922

• 27 · Net assets without donor restrictions

  beginning of year $18,718,029 · end of year $19,000,671

• 28 · Net assets with donor restrictions

  beginning of year $13,235 · end of year $17,682

The filer's explanations (Part III)

PART I, LINE 1B

WHILE THERE IS NO WRITTEN POLICY FOR TAX INDEMNIFICATION AND GROSS-UP PAYMENTS, IT IS A LONG-TIME COMPANY PAYROLL PRACTICE THAT WHEN AN OFFICER HAS A TAXABLE EVENT, THE DISTRIBUTION IS GROSSED UP TO ACCOUNT FOR THE DIFFERENCE. THERE IS A BOARD MOTION TO INDEMNIFY FOR THE TAXES THE PRESIDENT PAID ON COMMUTING MILEAGE LOADED ON PAYROLL.

Related corporations and trusts

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

• UNITED FARM FAMILY LIFE INSURANCE CO

  C · INSURANCE · IN · 100% owned · share of income $9,655,512 · share of assets $2,545,825,637 · controlled entity

  Directly controlled by INDIANA FARM BUREAU INC

• UNITED HOME LIFE INSURANCE COMPANY

  C · INSURANCE · IN

• INDIANA FARM BUREAU MEMBERS HEALTH LLC

  C · INSURANCE · IN · 100% owned · share of income $12,463,187 · share of assets $2,242,303 · controlled entity

  Directly controlled by INDIANA FARM BUREAU INC