North Carolina Association of Future Farmers of America Inc

Nonprofit profile at a glance

EIN
566061314
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Raleigh, NC, USA
Phone
9195154206
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$2,170,590
Expenses
$2,136,167
Assets
$5,238,321
Liabilities
$20,793

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

Leadership & pay

1 person listed

Highest reported compensation

  • JOSHUA BLEDSOE (STATE AG ED): $164,810 total reported compensation

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

Overview

Mission

To make a positive difference in the lives of students by developing their potential for premier leadership, personal growth, and career success through agricultural education.

What it reported doing in 2024

Membership level continues to grow and is now over 48,500. There has been program expansion over 8 regions and the state convention continues to be a success.

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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 60
  • Accountability: 79
  • Sustainability: 54
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 90.6%; rating input score 91
  • Program expense ratio: 91.9%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd 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: 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.6%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 2.45; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 89; 89th percentile among comparable filings
  • Officer compensation ratio: 7.7%; rating input score 38; 38th percentile among comparable filings

Growth

  • Program expense growth: 20.1% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 12.1% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 90.6% of revenue deployed · 91.9% of spending went to programs
  • Governance: 22 of 22 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $165K · 1 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 25 of 25 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 6 filing years from 2019 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • Moderate — Sustainability: Officer compensation ratio scored 38/100.