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Nonprofiteer
← FARM CREDIT COUNCIL

Form 990 for tax year 2022

Filed by FARM CREDIT COUNCIL.

Totals

Total revenue
$13,302,347
Total expenses
$10,285,993
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$12,776,090
Investment income
-$115,781
Other revenue
$642,038
Total assets, end of year
$32,813,320
Total liabilities, end of year
$9,578,518
Net assets or fund balances, end of year
$23,234,802
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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.

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $9,846,866 · related or exempt $9,846,866

  • 2b · Program service revenue: PROGRAM INCOME

    total $2,027,275 · related or exempt $2,027,275

  • 2c · Program service revenue: REGISTRATION INCOME

    total $888,449 · related or exempt $888,449

  • 2d · Program service revenue: SPONSORSHIP REVENUE

    total $13,500 · related or exempt $13,500

  • 3 · Investment income

    total $31,881 · excluded $31,881

  • 7a · Gross sales of assets other than inventory

    securities $1,637,041

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

    securities $1,784,703

  • 7c · Gain or loss

    securities -$147,662

  • 7d · Net gain or loss

    total -$147,662 · excluded -$147,662

  • 11a · Other revenue: LONG TERM INCENTIVE PLAN

    total $642,038 · excluded $642,038

  • 11e · Other revenue, total

    $642,038

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $3,442,275

  • 7 · Other salaries and wages

    total $561,856

  • 9 · Other employee benefits

    total $32,405

  • 10 · Payroll taxes

    total $131,545

  • 11b · Fees: legal

    total $57,072

  • 11f · Fees: investment management

    total $18,095

  • 11g · Fees: other

    total $1,142,289

  • 13 · Office expenses

    total $57,499

  • 16 · Occupancy

    total $322,544

  • 17 · Travel

    total $1,030,721

  • 19 · Conferences, conventions and meetings

    total $1,167,857

  • 22 · Depreciation, depletion and amortization

    total $67,708

  • 23 · Insurance

    total $6,790

  • 24a · Other expenses: PUBLIC RELATIONS & DUES

    total $2,056,957

  • 24b · Other expenses: SUBSCRIPTIONS AND PUBLI

    total $73,449

  • 24c · Other expenses: TRAINING

    total $44,803

  • 24d · Other expenses: BANK FEES

    total $39,704

  • 24e · All other expenses

    total $32,424

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,841,699 · end of year $5,422,361

  • 2 · Savings and temporary cash investments

    beginning of year $263,695 · end of year $104,410

  • 4 · Accounts receivable

    beginning of year $75,638 · end of year $356,309

  • 5 · Loans and receivables from officers and key people

    end of year $2,297,255

  • 9 · Prepaid expenses and deferred charges

    beginning of year $257,966 · end of year $235,058

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

    $846,453

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

    $548,305

  • 10c · Land, buildings and equipment, net

    beginning of year $363,918 · end of year $298,148

  • 11 · Investments: publicly traded securities

    beginning of year $6,707,953 · end of year $5,211,799

  • 15 · Other assets

    beginning of year $15,743,634 · end of year $18,887,980

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,980,402 · end of year $1,552,875

  • 19 · Deferred revenue

    end of year $3,184,145

  • 25 · Other liabilities

    beginning of year $2,521,588 · end of year $4,841,498

  • 27 · Net assets without donor restrictions

    beginning of year $20,752,513 · end of year $23,234,802

Mission and programs · 2022

Mission

REPRESENT THE LEGISLATIVE AND REGULATORY INTERESTS OF COOPERATIVE FARM LENDERS, THE INSTITUTIONS COMPRISING THE FARM CREDIT SYSTEM. THE FARM CREDIT COUNCIL SYSTEM IS A NATIONWIDE NETWORK OF PRIVATELY-OWNED BANKS AND ASSOCIATIONS THAT PROVIDE CREDIT AND RELATED SERVICES TO FARMERS, RANCHERS, FISHERMEN, AND FARM RELATED BUSINESSES. THE BANKS, ASSOCIATIONS, AND SERVICE ORGANIZATIONS OF THE SYSTEM ARE ALL OWNED DIRECTLY OR INDIRECTLY BY THEIR CUSTOMERS AND OPERATED ON A COOPERATIVE BASIS.

Activities or mission (Part I)

REPRESENT THE LEGISLATIVE AND REGULATORY INTERESTS OF COOPERATIVE FARM LENDERS.

  • MONITORING AND INFORMING MEMBERS OF PROPOSED LEGISLATION BEFORE FEDERAL OR STATE LEGISLATIVE BODIES OF PROPOSED ACTIONS, POLICIES, RULINGS, OR REGULATIONS OF ANY FEDERAL OR STATE AGENCY OR ADMINISTRATIVE BODY, AND OF ANY OTHER MATTERS, WHICH MAY AFFECT THE SYSTEM.

  • PRESENTING THE VIEWS OF ITS MEMBERS TO FEDERAL OR STATE LEGISLATORS, REGULATORY OFFICIALS, OTHER GOVERNMENT OFFICIALS, AND THE PUBLIC ON MATTERS WHICH MAY AFFECT THE SYSTEM.

  • PROVIDING IMPROVED COMMUNICATION AMONG ITS MEMBERS AND BETWEEN ITS MEMBERS AND THE PUBLIC, INCLUDING THE COLLECTION OF INFORMATION FROM AND THE DISTRIBUTION OF INFORMATION TO ITS MEMBERS AND THE PUBLIC.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jon E Marthedal

    CHAIR

    Total calculated
    $34,980
    From this org
    $34,980
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Michael Stone

    VICE CHAIR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Jenny Black

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Laura Braun

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Dan Childs

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Stan Claussen

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • James F Dodson

    DIRECTOR

    Total calculated
    $33,390
    From this org
    $33,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Mark Ellison

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Duane Mark Gray

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Herbert R Holzapfel

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • William Jackson

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • David Kragnes

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • John Kuegel Jr

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Chad Lee

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Catherine Moyer

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jennifer Rhodes

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • John Schmitt

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Peter Triandafillou

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Brandon Wittman

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Joe David Yates

    DIRECTOR

    Total calculated
    $19,875
    From this org
    $19,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Jennifer Zessin

    DIRECTOR

    Total calculated
    $31,800
    From this org
    $31,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Tim Rowe

    DIRECTOR

    Total calculated
    $25,263
    From this org
    $25,263
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Bryan Scott Bell

    DIRECTOR

    Total calculated
    $11,925
    From this org
    $11,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • David Haase

    DIRECTOR

    Total calculated
    $25,263
    From this org
    $25,263
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Mark Pierce

    DIRECTOR

    Total calculated
    $5,300
    From this org
    $5,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Thomas W Wilkie III

    DIRECTOR

    Total calculated
    $5,300
    From this org
    $5,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Larry Todd Van Hoose

    PRESIDENT & CEO

    Total calculated
    $1,007,620
    From this org
    $933,451
    From related orgs
    $0
    Other
    $74,169
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $563,451
    Bonus
    $370,000
    Other
    $0
    Deferred
    $47,950
    Nontaxable benefits
    $26,219
    Filer's total
    $1,007,620

  • William Jeffry Shipp

    EXECUTIVE VP - GOVERNMENT

    Total calculated
    $303,942
    From this org
    $303,942
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $43,050
    Bonus
    $0
    Other
    $260,892
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $303,942

  • Deborah Garrett Wing

    EXECUTIVE VP - COMMUNICATI

    Total calculated
    $478,367
    From this org
    $411,989
    From related orgs
    $0
    Other
    $66,378
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $318,719
    Bonus
    $93,270
    Other
    $0
    Deferred
    $35,594
    Nontaxable benefits
    $30,784
    Filer's total
    $478,367

  • Brad Langan

    TREASURER

    Total calculated
    $293,511
    From this org
    $0
    From related orgs
    $246,558
    Other
    $46,953
    Hours/week
    8 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $169,935 related
    Bonus
    $0 + $76,623 related
    Other
    $0
    Deferred
    $0 + $21,336 related
    Nontaxable benefits
    $0 + $25,617 related
    Filer's total
    $0 + $293,511 related

  • Robert Boone III

    SENIOR VP, REG AFFAIRS & G

    Total calculated
    $493,047
    From this org
    $394,587
    From related orgs
    $0
    Other
    $98,460
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $330,587
    Bonus
    $64,000
    Other
    $0
    Deferred
    $55,839
    Nontaxable benefits
    $42,621
    Filer's total
    $493,047

  • Gary Matteson

    SENIOR VP, BEG FARMER PROG

    Total calculated
    $397,039
    From this org
    $308,422
    From related orgs
    $0
    Other
    $88,617
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $262,506
    Bonus
    $45,916
    Other
    $0
    Deferred
    $58,605
    Nontaxable benefits
    $30,012
    Filer's total
    $397,039

  • Jeanette Mesirow

    SENIOR VP, GOVERNMENT AFFA

    Total calculated
    $308,276
    From this org
    $261,849
    From related orgs
    $0
    Other
    $46,427
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $217,849
    Bonus
    $44,000
    Other
    $0
    Deferred
    $24,055
    Nontaxable benefits
    $22,372
    Filer's total
    $308,276

  • Mark Hayes

    VP EXTERNAL COMMUNICATIONS

    Total calculated
    $225,908
    From this org
    $207,255
    From related orgs
    $0
    Other
    $18,653
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,240
    Bonus
    $32,015
    Other
    $0
    Deferred
    $18,653
    Nontaxable benefits
    $0
    Filer's total
    $225,908

  • Brittany Simpson

    VP PUBLIC POLICY STAKEHOLD

    Total calculated
    $228,076
    From this org
    $202,393
    From related orgs
    $0
    Other
    $25,683
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $170,961
    Bonus
    $31,432
    Other
    $0
    Deferred
    $18,313
    Nontaxable benefits
    $7,370
    Filer's total
    $228,076

  • Lucas Michele

    SR DIRECTOR, MEETINGS AND

    Total calculated
    $196,053
    From this org
    $155,729
    From related orgs
    $0
    Other
    $40,324
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,145
    Bonus
    $21,584
    Other
    $0
    Deferred
    $25,305
    Nontaxable benefits
    $15,019
    Filer's total
    $196,053

  • Shannon Kerns

    OFFICE MANAGER AND EXECUTI

    Total calculated
    $121,193
    From this org
    $110,370
    From related orgs
    $0
    Other
    $10,823
    Hours/week
    40

  • Benjamin Duncanson

    SR DIRECTOR, ECONOMY AND P

    Total calculated
    $152,274
    From this org
    $127,619
    From related orgs
    $0
    Other
    $24,655
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $127,619
    Bonus
    $0
    Other
    $0
    Deferred
    $11,842
    Nontaxable benefits
    $12,813
    Filer's total
    $152,274

  • Mary Streiffert

    DIRECTOR COMMUNICATIONS AND STAKEHOLDER RELATIONS

    Total calculated
    $116,945
    From this org
    $101,510
    From related orgs
    $0
    Other
    $15,435
    Hours/week
    40

  • Skylar Sowder

    VP GOVERNMENT AFFAIRS

    Total calculated
    $223,957
    From this org
    $193,735
    From related orgs
    $0
    Other
    $30,222
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,985
    Bonus
    $12,750
    Other
    $0
    Deferred
    $17,834
    Nontaxable benefits
    $12,388
    Filer's total
    $223,957

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A:
PAYMENT OF TRAVEL AND OTHER EXPENSES FOR BOARD SPOUSE ATTENDANCE AT THE ANNUAL MEETING ARE PAID BY THE COMPANY, AND ARE INCLUDED IN THE EMPLOYEE'S W-2, AS IS AUTHORIZED BY THE BOARD.

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.

  • FARM CREDIT POLITICAL ACTION COMMITTEE

    527 · POLITICAL · DC · controlled entity

    Directly controlled by THE FARM CREDIT COUNCIL

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.

  • FARM CREDIT COUNCIL SERVICES INC

    C · RISK MANAGEMENT · CO · 100% owned · share of income $16,997,643 · share of assets $20,835,691 · controlled entity

    Directly controlled by FARM CREDIT COUNCIL

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202313179349310256

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