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 Chillicothe, MO. 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 December 2023, Future Farmers of America and Its State Associations & Local Chapter reported income of $87k and spending of $87k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $92k to $87k (-6.1%), an average of -1.6% a year. The sharpest change came in the year to December 2022, when income dropped by 28%. Over the whole period it spent 137% 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 33rd percentile: it is larger than about 33% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 31st percentile within MO. Charities of a similar size with the same main cause include Arizona Congress of Parents and Teachers ($87k), Rhode Island 4-H Club Foundation Inc ($87k) and American College of Physicians ($87k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 54% and program service revenue 29% of the total. At year end it held assets of $663k against liabilities of $0, net assets of $663k.

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.