Future Farmers of America and Its State Associations & Local Chapter

Nonprofit profile at a glance

EIN
611360617
IRS 990 coverage
2021–2025
Forms available
Form 990 2025
Location
Nicholasville, KY, USA
Phone
8599485527
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$394,956
Expenses
$394,956
Assets
$166,280
Liabilities
$166,280

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • Carl Waits (Vice President)
  • James Hall (President)
  • James Hall (President)
  • Carl Waits (Vice President)

Highest reported compensation

  • Carl Waits (Vice President): $4,000 total reported compensation
  • Carl Waits (Vice President): $4,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Support Youth and adult agriculture within in our community.

What it reported doing in 2025

Provide grant assistance to 4H/FFA students for agriculture related projects.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 23
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 10th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 0%; rating input score 35; 35th percentile among comparable filings
  • Total-asset coverage ratio: 0.42; rating input score 22; 22nd percentile among comparable filings
  • Liabilities to assets ratio: 1; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: 11.5% per year; rating input score 100; 71st percentile among comparable filings
  • Revenue growth: 4.6% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 36th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 50 of 50 board members independent · 1 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $381K in reported program spending
  • Leadership: top reported pay $4K · 9 people listed
  • Consistency: 19 of 20 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2021 to 2025
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 6 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 35/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 22/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.