Future Farmers of America

Analysis

Future Farmers of America is a registered charity in United States, based in Funkstown, MD. 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 reported income of $309k and spending of $306k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $265k to $309k (+16%), an average of +3.9% a year. The sharpest change came in the year to December 2023, when income rose by 59%. Over the whole period it spent 94% 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 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 62nd percentile within MD. Charities of a similar size with the same main cause include Ontario County Historical Society ($309k), All Faith Community Services ($309k) and Mille Lacs Drift Skippers ($309k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 44% of the total. At year end it held assets of $214k against liabilities of $124, net assets of $214k.