Future Farmers of America

Analysis

Future Farmers of America is a registered charity in United States, based in Raleigh, NC. 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 August 2023, Future Farmers of America reported income of $2.0m and spending of $1.9m, spending 93% of its income. Across the 5 years on record, from August 2019 to August 2023, income fell from $2.4m to $2.0m (-17%), an average of -4.4% a year. The sharpest change came in the year to August 2022, when income rose by 248%. Over the whole period it spent 68% 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 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within NC. Charities of a similar size with the same main cause include Center of Hope Inc ($2.0m), Charleston Area Senior Citizens Services Inc ($2.0m) and Lighthouse Childrens Home Inc ($2.0m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 66% and program service revenue 32% of the total. Other salaries and wages came to $52k. At year end it held assets of $5.2m against liabilities of $8,577, net assets of $5.2m.