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Nonprofiteer
← VETERANS FARM OF NORTH CAROLINA

Form 990 for tax year 2023

Filed by VETERANS FARM OF NORTH CAROLINA.

Totals

Total revenue
$359,204
Total expenses
$371,592
Contributions and grants received
$333,425
Grants paid
$0
Program service revenue
$0
Investment income
$13
Other revenue
$25,766
Total assets, end of year
$180,812
Total liabilities, end of year
$6,633
Net assets or fund balances, end of year
$174,179
Program services expenses (Part IX)
$356,252
Management and general expenses
$15,340
Fundraising expenses
$0
Program service expenses (Part III)
$356,252

Program services were 95.9% 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.

  • 1e · Government grants (contributions)

    $172,774

  • 1f · All other contributions, gifts and grants

    $160,651

  • 1g · Noncash contributions included above

    $37,127

  • 3 · Investment income

    total $13 · unrelated business $13 · excluded $0

  • 8a · Fundraising events: gross income

    $12,535

  • 8b · Fundraising events: direct expenses

    $910

  • 8c · Net income from fundraising events

    total $11,625 · unrelated business $0 · excluded $11,625

  • 10a · Gross sales of inventory

    $14,141

  • 10c · Net income from sales of inventory

    total $14,141 · related or exempt $14,141

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $73,000 · program services $65,700 · management and general $7,300 · fundraising $0

  • 7 · Other salaries and wages

    total $106,840 · program services $106,840 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $13,758 · program services $13,200 · management and general $558 · fundraising $0

  • 11c · Fees: accounting

    total $3,865 · program services $3,478 · management and general $387 · fundraising $0

  • 11g · Fees: other

    total $74,050 · program services $74,050 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $3,069 · program services $2,762 · management and general $307 · fundraising $0

  • 13 · Office expenses

    total $2,345 · program services $2,110 · management and general $235 · fundraising $0

  • 17 · Travel

    total $7,322 · program services $6,590 · management and general $732 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $659 · program services $628 · management and general $31 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $20,255 · program services $19,779 · management and general $476 · fundraising $0

  • 23 · Insurance

    total $1,755 · program services $1,579 · management and general $176 · fundraising $0

  • 24a · Other expenses: Annual State Report

    total $406 · program services $0 · management and general $406 · fundraising $0

  • 24b · Other expenses: Bank Service Fees

    total $129 · program services $0 · management and general $129 · fundraising $0

  • 24c · Other expenses: Classroom Reference Materials

    total $982 · program services $982 · management and general $0 · fundraising $0

  • 24d · Other expenses: County Fees

    total $300 · program services $0 · management and general $300 · fundraising $0

  • 24e · All other expenses

    total $62,857 · program services $58,554 · management and general $4,303 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $121,499 · end of year $42,182

  • 2 · Savings and temporary cash investments

    end of year $39,210

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

    $237,433

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

    $138,013

  • 10c · Land, buildings and equipment, net

    beginning of year $79,033 · end of year $99,420

  • 22 · Loans and payables to officers and key people

    end of year $6,633

  • 31 · Retained earnings, endowment or other funds

    beginning of year $200,532 · end of year $174,179

Mission and programs · 2023

Mission

The Veterans Farm of North Carolina, Inc. (VFNC) assists service members exiting the military and Veterans to become self-sufficient farmers. VFNC operates the only full-scale production farm for training Veterans in North Carolina.

  • Agricultural Education and Mentoring Programs

    Expenses $356,252 · Grants $248,274 · Revenue $343,637

As filed on the 2023 return.

Listed in Part VII

  • Robert Elliott

    Executive Director

    Total calculated
    $73,000
    From this org
    $73,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $73,000
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $73,000

  • Samantha Manning

    President

    Total calculated
    $0
    Hours/week
    2

  • Elisabeth Meyer

    Vice-President

    Total calculated
    $0
    Hours/week
    2

  • Kate Bishop

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Trudy Thornton

    Interm Treasurer

    Total calculated
    $0
    Hours/week
    20

  • Corey Deibel

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Davon Goodwin

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Robert Hosford

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Clem Lochner

    Board Member

    Total calculated
    $0
    Hours/week
    2

  • Robin Tutor-Marcom

    Board Member

    Total calculated
    $0
    Hours/week
    2

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Approval by the board or compensation committee

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
16 June 2026
IRS schema version
2023v6.0
Source object
202621749349301002

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