Pulaski County Farm Bureau Inc

Nonprofit profile at a glance

EIN
610653096
IRS 990 coverage
2016–2024
Forms available
Form 990 2024
Location
Somerset, KY, USA
Phone
6066782360
Rating
52
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$155,241
Expenses
$182,265
Assets
$1,014,398
Liabilities
$13,942

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

Leadership & pay

4 people listed

Executive titles in this filing

  • DAVID TAYLOR (PRESIDENT)

Highest reported compensation

  • DELANA HARRIS (SEC/TREAS): $27,813 total reported compensation

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

Overview

Mission

Provide services to all members

What it reported doing in 2024

Accident/theft id restoration service for members & associate members

Operating model

Revenue model
Earned-program. 76% of the money available for current operations came from fees and other program revenue.
Distribution model
Member-benefit provider. The nonprofit used 99% of its reported program spending for member benefits.

The verdict

MIXED - 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: 26
  • Transparency & Controls: 82
  • Accountability: 61
  • Sustainability: 39
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 30.2%; rating input score 30
  • Program expense ratio: 28.8%; rating input score 29
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 13th 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: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.4%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 5.57; rating input score 81; 81st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 15.3%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 16.7% per year; rating input score 100; 81st percentile among comparable filings
  • Revenue growth: -3% per year; rating input score 0; 14th percentile among comparable filings
  • Asset growth: 5.1% per year; rating input score 100; 48th percentile among comparable filings

Details

  • Where the money goes: 30.2% of revenue deployed · 28.8% of spending went to programs
  • Governance: 6 of 7 board members independent · 2 of 8 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $28K · 4 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 8 filing years from 2016 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 30/100.
  • High — Financial Efficiency: Program expense ratio scored 29/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.