Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $2,553,338

• 1f · All other contributions, gifts and grants

  $229,853

• 2a · Program service revenue: FARM BUREAU INCOME

  total $121,431 · related or exempt $121,431

• 2b · Program service revenue: PROGRAM SALES

  total $37,879 · unrelated business $37,879

• 3 · Investment income

  total $952,084 · excluded $952,084

• 5 · Royalties

  total $6,677,210 · excluded $6,677,210

• 7a · Gross sales of assets other than inventory

  other assets $126,909

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

  other assets $0

• 7c · Gain or loss

  other assets $126,909

• 7d · Net gain or loss

  total $126,909 · excluded $126,909

• 8a · Fundraising events: gross income

  $7,654

• 8b · Fundraising events: direct expenses

  $1,298

• 8c · Net income from fundraising events

  total $6,356 · excluded $6,356

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $173,390

• 7 · Other salaries and wages

  total $2,740,886

• 8 · Pension plan contributions

  total $384,556

• 9 · Other employee benefits

  total $472,276

• 10 · Payroll taxes

  total $274,071

• 12 · Advertising and promotion

  total $127,469

• 16 · Occupancy

  total $410,158

• 17 · Travel

  total $442,981

• 20 · Interest

  total $22,238

• 22 · Depreciation, depletion and amortization

  total $438,505

• 23 · Insurance

  total $183,901

• 24a · Other expenses: DUES & SUBSCRIPTIONS

  total $906,216

• 24b · Other expenses: PROFESSIONAL FEES

  total $624,196

• 24c · Other expenses: MEALS

  total $464,132

• 24d · Other expenses: POSTAGE

  total $143,060

• 24e · All other expenses

  total $842,581

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,063,186 · end of year $2,888,036

• 2 · Savings and temporary cash investments

  beginning of year $26,278,824 · end of year $28,788,824

• 4 · Accounts receivable

  beginning of year $217,749 · end of year $69,705

• 7 · Other notes and loans receivable

  beginning of year $1,107,981 · end of year $737,584

• 9 · Prepaid expenses and deferred charges

  beginning of year $83,991 · end of year $115,310

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

  $4,293,184

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

  $2,550,131

• 10c · Land, buildings and equipment, net

  beginning of year $1,696,509 · end of year $1,743,053

• 12 · Investments: other securities

  beginning of year $45,254,035 · end of year $48,533,834

• 15 · Other assets

  beginning of year $8,313,017 · end of year $9,607,494

• 17 · Accounts payable and accrued expenses

  beginning of year $1,160,548 · end of year $845,484

• 25 · Other liabilities

  beginning of year $7,828,521 · end of year $7,702,410

• 27 · Net assets without donor restrictions

  beginning of year $78,026,223 · end of year $83,935,946

The filer's explanations (Part III)

PART I, LINE 1B

SUBSTANTIATION IS REQUIRED PRIOR TO PAYMENT AND THESE EXPENSES ARE REVIEWED AND APPROVED BY THE BOARD DURING THE BUDGET PROCESS.

Related corporations and trusts

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

• LOUISIANA FARM BUREAU SERVICE COMPANY

  C · RECEIVES/PROVIDES TAXABLE SERVICES FOR ITS NON-PROFIT PARENT ORGANIZATION · LA · 100% owned · controlled entity

• LOUISIANA FARM BUREAU INVESTMENT

  C · STOCK HOLDING COMPANY · LA · 100% owned · controlled entity

• LOUISIANA FARM BUREAU ENTERPRISES INC

  C · OWNS BUILDING. PROVIDES ADMINSITRATIVE SERVICES TO INSURANCE COMPANIES · LA · 100% owned · controlled entity

• LOUISIANA FARM BUREAU MARKETING ASSOCIATION INC

  C · ORGANIZATION DESIGNED TO MARKET GRAIN AND TO MARKET/BROKER RICE FOR MEMBERS. · LA · 87.49% owned · controlled entity