Mississippi Farm Bureau Federation
Nonprofit profile at a glance
- EIN
- 640303134
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Jackson, MS, USA
- Phone
- 6019573200
- Rating confidence
- Limited
Reported finances
- Revenue
- $14,404,075
- Expenses
- $15,365,143
- Assets
- $27,657,511
- Liabilities
- $6,066,721
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
30 people listed
Executive titles in this filing
- D MIKE MCCORMICK (PRESIDENT)
- DONALD GANT (VICE PRESIDENT)
- JEFF EASTERLING (VICE PRESIDENT)
- TED KENDALL IV (VICE PRESIDENT)
Highest reported compensation
- D MIKE MCCORMICK (PRESIDENT): $341,369 total reported compensation
- KENT M BLOODWORTH (SECRETARY): $305,913 total reported compensation
- DOUGLAS ERVIN (CHIEF ORGANIZATION OFFICER): $274,284 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Mississippi farm bureau federation's mission is to create an environment in which Mississippi farmers, ranchers, and farm bureau members can have a better life and make a better living.
What it reported doing in 2024
The federation holds annual commodity education events for farm bureau active farming members. Numerous speakers share their knowledge on issues related to commodities and legislation. The federation regional managers work with 82 county farm bureaus and their volunteer leaders around the state to implement programs that benefit their membership's agricultural interest. Staff and active farming members also attend a national conference to gain knowledge of best agricultural practices. The federation partners with agricultural related advisory organizations for research assistance. Scholarships are presented each year to farm bureau member students studying in an agricultural area.
Operating model
- Revenue model
- Other-operating. 81% of the money available for current operations came from other operating revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 58
- Accountability: 94
- Sustainability: 33
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 91.7%; rating input score 92; 6th percentile among comparable filings
- Pay-setting controls: 0 of 6 controls in place; rating input score 0
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Missing
- Foreign activity oversight: Limited
- Grant itemization coverage: 70.3%; rating input score 70; 14th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 89.3%; rating input score 89; 22nd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -6.7%; rating input score 14; 14th percentile among comparable filings
- Total-asset coverage ratio: 1.8; rating input score 58; 58th percentile among comparable filings
- Liabilities to assets ratio: 0.22; rating input score 56; 56th percentile among comparable filings
- Officer compensation ratio: 9.5%; rating input score 23; 23rd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 5.1% per year; rating input score 100; 44th percentile among comparable filings
- Asset growth: -0.6% per year; rating input score 0; 9th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 25 of 28 board members independent · 9 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $341K · 30 people listed · 0 of 6 pay-setting controls reported
- Consistency: 14 of 15 current checks pass · 1 finding to review
- Schedules: 5 filed schedules · includes grants and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 34 filed money-flow records
- Related organizations: 4 filed related-organization links
- 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.
- Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Pay-setting controls scored 0/100.
- High — Sustainability: Operating margin scored 14/100.
- High — Growth: Asset growth scored 0/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 58/100.
- High — Sustainability: Officer compensation ratio scored 23/100.
- Review — Sustainability: Liabilities to assets ratio scored 56/100.