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 Nicholasville, KY. 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 $310k and spending of $208k, leaving 33% of income unspent that year. Across the 4 years on record, from December 2019 to December 2023, income grew from $179k to $310k (+73%), an average of +20% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 86% 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 61st 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 KY. Charities of a similar size with the same main cause include Bird Center of Michigan Inc ($310k), Raleigh Fire Department Inc ($310k) and Northeast Philadelphia Victim- Witness Service ($310k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $3,000 (1.4% of expenses). At year end it held assets of $232k against liabilities of $0, net assets of $232k.