Future Farmers of America and Its State Associations & Local Chapter

Analysis

Future Farmers of America and Its State Associations & Local Chapter is a registered charity in United States, based in Carrollton, OH. It received its IRS tax-exemption ruling in October 1954, 72 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Future Farmers of America and Its State Associations & Local Chapter reported income of $2.8m and spending of $1.6m, leaving 44% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.5m to $2.8m (+85%), an average of +17% a year. The sharpest change came in the year to December 2021, when income rose by 304%. Over the whole period it spent 73% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Future Farmers of America and Its State Associations & Local Chapter sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within OH. Charities of a similar size with the same main cause include Operation Lifesaver Inc ($2.8m), Florida Taxwatch Research Institute Inc ($2.8m) and Special Olympics Rhode Island Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 2.4% and program service revenue 53% of the total. Other salaries and wages came to $411k. It paid $900 in professional fundraising fees. At year end it held assets of $7.7m against liabilities of $579k, net assets of $7.1m. It reported 41 employees.