Henderson County Farm Bureau Inc

Nonprofit profile at a glance

EIN
610465577
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2016
Location
Henderson, KY, USA
Phone
2708278053
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$241,368
Expenses
$162,644
Assets
$1,145,089
Liabilities
$404,375

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • BOB WATSON (PRESIDENT)

People named in this filing

  • STEPHEN BOYENS (AGENCY MEMBE)
  • KARL DAWSON (DIRECTOR)
  • JOHN DENTON (VICE PRESIDE)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Henderson county farm bureau is a voluntary organization of farm families and their allies dedicated to serving as the voice of agriculture by identifying problems, developing solutions and taking actions which will improve net farm income in henderson county, Kentucky, achieve better economic opportunities and enhance the quality of life for all hendersonians and kentuckians.

What it reported doing in 2024

Youth development activities - leadership development is the chief goal of henderson county farm bureau's youth development programs. Programs introduce participants to the business side of henderson county farm bureau, while simultaneously offering family-oriented social events for their enjoyment. Statewide conferences and seminars are held each year to educate youth in agriculatural issues, including institute for future agricultural leaders (ifal), which exposes students to college life and explores different fields of study for careers in agriculture.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 38
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 34.2%; rating input score 34
  • Program expense ratio: 56.5%; rating input score 57
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 32.6%; rating input score 84; 84th percentile among comparable filings
  • Total-asset coverage ratio: 7.04; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 14; 14th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 66th percentile among comparable filings
  • Revenue growth: 5% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 34.2% of revenue deployed · 56.5% of spending went to programs
  • Governance: 6000 of 6000 board members independent · 5 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $92K in reported program spending
  • Leadership: top reported pay $0 · 21 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 34/100.
  • Review — Financial Efficiency: Program expense ratio scored 57/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Liabilities to assets ratio scored 14/100.