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Nonprofiteer
← MISSISSIPPI FARM BUREAU FOUNDATION & RELIEF FUND INC

Form 990 for tax year 2023

Filed by MISSISSIPPI FARM BUREAU FOUNDATION & RELIEF FUND INC.

Totals

Total revenue
$455,622
Total expenses
$651,101
Contributions and grants received
$441,522
Grants paid
$116,340
Program service revenue
$0
Investment income
$14,100
Other revenue
$0
Total assets, end of year
$4,079,373
Total liabilities, end of year
$3,090,232
Net assets or fund balances, end of year
$989,141
Program services expenses (Part IX)
$638,306
Management and general expenses
$12,795
Fundraising expenses
$0
Program service expenses (Part III)
$638,306

Program services were 98.0% 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

    $96,624

  • 1e · Government grants (contributions)

    $344,898

  • 3 · Investment income

    total $14,100 · excluded $14,100

  • 8a · Fundraising events: gross income

    $0

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

    $96,624

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $113,840 · program services $113,840

  • 2 · Grants to domestic individuals

    total $2,500 · program services $2,500

  • 11b · Fees: legal

    total $1,169 · management and general $1,169

  • 11c · Fees: accounting

    total $6,975 · management and general $6,975

  • 12 · Advertising and promotion

    total $520,166 · program services $520,166

  • 13 · Office expenses

    total $4,651 · management and general $4,651

  • 14 · Information technology

    total $1,800 · program services $1,800

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,593,825 · end of year $4,064,373

  • 9 · Prepaid expenses and deferred charges

    end of year $15,000

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

    $29,759

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

    $29,759

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,399,818 · end of year $3,090,232

  • 19 · Deferred revenue

    beginning of year $9,387 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $891,591 · end of year $835,419

  • 28 · Net assets with donor restrictions

    beginning of year $293,029 · end of year $153,722

Mission and programs · 2023

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE FUNDS FOR RESEARCH AND EDUCATION IN AGRICULTURE IN THE STATE OF MISSISSIPPI.

Activities or mission (Part I)

TO PROVIDE FUNDS FOR EDUCATION AND RESEARCH IN AGRICULTURE IN MISSISSIPPI.

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $569,840 · Grants $116,340

  • MFBF PARTICIPATED IN THE ANNUAL DIXIE NATIONAL SALE OF JUNIOR CHAMPIONS. THE SUPPORT OF THIS MISSION PROMOTES AND SUPPORTS 4-H AND FFA LIVESTOCK PROGRAMS. THE SALES PROVIDE SCHOLARSHIPS TO YOUTH INTERESTED IN AGRICULTURAL AND LIVESTOCK CAREERS.

    Expenses $65,565

  • IN AN EFFORT TO LEND SUPPORT TO NEIGHBORS, MFBF MAKES DONATIONS TO RECOVERY EFFORTS ASSOCIATED WITH MAJOR DISASTER THAT MAY OCCUR WITHIN OUR STATE EACH YEAR, IN HOPES TO HELP WITH THE DEVASTATING IMPACT ON THE COUNTIES THAT ARE AFFECTED BY NATURAL DISASTERS.

    Expenses $2,901

As filed on the 2023 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • Mike McCormick

    PRESIDENT

    Total calculated
    $221,506
    From this org
    $0
    From related orgs
    $174,658
    Other
    $46,848
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $174,658 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $38,177 related
    Nontaxable benefits
    $0 + $8,671 related
    Filer's total
    $0 + $221,506 related

  • Reggie Magee

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Kent Bloodworth

    SECRETARY

    Total calculated
    $233,661
    From this org
    $0
    From related orgs
    $164,504
    Other
    $69,157
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0 + $164,504 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $60,497 related
    Nontaxable benefits
    $0 + $8,660 related
    Filer's total
    $0 + $233,661 related

  • Hugh Beckham

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lonnie Fortner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jack Phillips

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kaleb Deese CPA

    TREASURER

    Total calculated
    $163,359
    From this org
    $0
    From related orgs
    $102,665
    Other
    $60,694
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0 + $102,665 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $44,819 related
    Nontaxable benefits
    $0 + $15,875 related
    Filer's total
    $0 + $163,359 related

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

None.

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

Provenance

Return type
form_990
Tax year
2023
Filed
5 March 2025
IRS schema version
2023v6.0
Source object
202520769349300627

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