Kentucky Farm Bureau

Nonprofit profile at a glance

EIN
610475972
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Louisa, KY, USA
Phone
6066384810
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$103,082
Expenses
$83,537
Assets
$428,042
Liabilities
$0

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

Leadership & pay

8 people listed

Highest reported compensation

  • Sherry Compton SecTreas (P. O. Box 642, Louisa, KY 41230): $3,000 total reported compensation

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

Overview

Mission

Furnish insurance, other farm services & agriculture programs to members in order to improve production; work with youth & 4-H groups to improve agriculture programs & farm services.

What it reported doing in 2024

Lawrence Co. Farm Bureau supports hundreds of members and children through various sponshorships and support of 4-H, Upward Bound program, Farm & Field Day, local school groups, etc. These sponsorships improve interest and knowledge in agriculture activity within the serviced area.

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 100% 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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 90
  • Accountability: 95
  • Sustainability: 71
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.3%; rating input score 63
  • Program expense ratio: 74.4%; rating input score 74
  • 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: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 19%; rating input score 72; 72nd percentile among comparable filings
  • Total-asset coverage ratio: 5.12; rating input score 80; 80th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 3.6%; rating input score 34; 34th percentile among comparable filings

Growth

  • Program expense growth: 2.7% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 50th percentile among comparable filings
  • Asset growth: 2.7% per year; rating input score 100; 37th percentile among comparable filings

Details

  • Where the money goes: 63.3% of revenue deployed · 74.4% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $62K in reported program spending
  • Leadership: top reported pay $3K · 8 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 34/100.