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 Sleepy Eye, MN. It received its IRS tax-exemption ruling in January 1945, 81 years ago. Its declared purposes cover youth development, which this site groups under children and youth development. 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 $1.1m and spending of $1.1m, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $501k to $1.1m (+129%), an average of +23% a year. The sharpest change came in the year to December 2022, when income rose by 58%. Over the whole period it spent 90% of the income it received.

Among 14,332 United States charities whose main cause is children and youth development and that reported income, Future Farmers of America and Its State Associations & Local Chapter sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 80th percentile within MN. Charities of a similar size with the same main cause include Upriver Youth Leadership Council ($1.1m), Boys & Girls Clubs of Barron County Inc ($1.1m) and Delaware College Scholars Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $184k (17% of expenses). Other salaries and wages came to $72k. At year end it held assets of $460k against liabilities of $900, net assets of $459k. It reported 6 employees.