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Nonprofiteer
← KENTUCKY FARM BUREAU INSURANCE FOUNDATION INC

Form 990 for tax year 2023

Filed by KENTUCKY FARM BUREAU INSURANCE FOUNDATION INC.

Totals

Total revenue
$307,644
Total expenses
$292,401
Contributions and grants received
$447,369
Grants paid
$262,825
Program service revenue
$0
Investment income
$0
Other revenue
-$139,725
Total assets, end of year
$66,380
Total liabilities, end of year
$21,600
Net assets or fund balances, end of year
$44,780
Program services expenses (Part IX)
$270,834
Management and general expenses
$21,567
Fundraising expenses
$0
Program service expenses (Part III)
$270,834

Program services were 92.6% 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

    $447,369

  • 1g · Noncash contributions included above

    $35,118

  • 8a · Fundraising events: gross income

    $93,875

  • 8a · Fundraising events: contributions included on line 1c

    $447,369

  • 8b · Fundraising events: direct expenses

    $233,600

  • 8c · Net income from fundraising events

    total -$139,725 · excluded -$139,725

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $262,825 · program services $262,825

  • 11c · Fees: accounting

    total $3,000 · management and general $3,000

  • 13 · Office expenses

    total $14,017 · program services $8,009 · management and general $6,008

  • 24a · Other expenses: PLEDGE WRITE-OFFS

    total $12,500 · management and general $12,500

  • 24b · Other expenses: TAXES & LICENSES

    total $59 · management and general $59

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $17,326 · end of year $64,580

  • 4 · Accounts receivable

    beginning of year $12,500

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,211 · end of year $1,800

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,500 · end of year $2,100

  • 19 · Deferred revenue

    end of year $19,500

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,537 · end of year $44,780

Mission and programs · 2023

Mission

TO SUPPORT THOSE IN NEED AND IMPROVE THE QUALITY OF LIFE THROUGHOUT THE COMMONWEALTH OF KENTUCKY.

  • TO SUPPORT THOSE IN NEED AND IMPROVE THE QUALITY OF LIFE THROUGHOUT THE COMMONWEALTH OF KENTUCKY.

    Expenses $270,834 · Grants $262,825

As filed on the 2023 return.

Listed in Part VII

  • JOHN SPARROW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • JENA STONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • NICKI WHITMIRE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • MARCUS BICKWERMERT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • HOWARD RICE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

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.

Grants 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.

Provenance

Return type
form_990
Tax year
2023
Filed
8 November 2024
IRS schema version
2023v5.1
Source object
202423199349316257

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