Lorain County Farm Bureau

Nonprofit profile at a glance

EIN
346527017
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
North Royalton, OH, USA
Phone
4408770706
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$180,384
Expenses
$152,321
Assets
$639,967
Liabilities
$2,746

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

Leadership & pay

14 people listed

Executive titles in this filing

  • Robert Beekman (President)
  • Jason Schriver (Vice President)

Highest reported compensation

  • Robert Beekman (President): $275 total reported compensation
  • Liz Merrill (Treasurer): $275 total reported compensation
  • Brad Lacko (Trustee): $275 total reported compensation

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

Overview

Mission

Improve rural standards of living.

What it reported doing in 2024

Benefits paid to or for members - This is paid memberships to Ohio Farm Bureau and to American Farm Bureau to futher their efforts in programming and promoting the farming community.

Operating model

Revenue model
Membership-supported. 67% of the money available for current operations came from membership dues.
Distribution model
Member-benefit provider. The nonprofit used 74% of its reported program spending for member benefits.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Program spending has declined or grown slowly and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 100
  • Accountability: 91
  • Sustainability: 65
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.7%; rating input score 77
  • Program expense ratio: 83.4%; rating input score 83
  • 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 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.6%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 4.2; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 51; 51st percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 36; 36th percentile among comparable filings

Growth

  • Program expense growth: -10.2% per year; rating input score 0; 11th percentile among comparable filings
  • Revenue growth: -7.4% per year; rating input score 0; 8th percentile among comparable filings
  • Asset growth: 6.2% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 76.7% of revenue deployed · 83.4% of spending went to programs
  • Governance: 13 of 13 board members independent · 7 of 9 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $275 · 14 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 12 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.

  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 36/100.
  • Review — Sustainability: Liabilities to assets ratio scored 51/100.