Future Farmers of America

Analysis

Future Farmers of America is a registered charity in United States, based in Ankeny, IA. It received its IRS tax-exemption ruling in January 1945, 81 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 September 2023, Future Farmers of America reported income of $1.0m and spending of $1.0m, spending 100% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $964k to $1.0m (+5.8%), an average of +1.4% a year. The sharpest change came in the year to September 2022, when income rose by 42%. Over the whole period it spent 101% 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 sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 79th percentile, and in the 82nd percentile within IA. Charities of a similar size with the same main cause include St Bernard Manor ($1.0m), Jefferson Associated Counsel ($1.0m) and Family Homestead ($1.0m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 72% and program service revenue 27% of the total. At year end it held assets of $652k against liabilities of $95k, net assets of $557k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.