Civic Intelligence

Madison County Farm Bureau

EIN 42-0680738 • 501(c)5 • Winterset, IA

Profile

Schedule O

PO Box 32 115 West CourtWinterset, IA 50273

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

40th percentile

0.00x

Higher debt load relative to assets than 40% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

55th percentile

0.02x

Higher debt load relative to revenue than 55% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Net Margin

68th percentile

15%

Higher net margin than 68% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

67th percentile

$45

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

$1M-$5M nonprofits • Source year 2020

Asset Growth

38th percentile

2.2%

Faster asset growth than 38% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

15th percentile

-5.4%

Faster revenue growth than 15% of similar nonprofits.

501(c)5 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,503,119

Up $32,014 (+2.2%) from 2023

Liabilities

Up

$3,659

Up $1,792 (+96%) from 2023

Net Assets

Up

$1,499,460

Up $30,222 (+2.1%) from 2023

Revenue

Down

$155,810

Down $8,973 (-5.4%) from 2023

Expenses

Up

$131,704

Up $3,370 (+2.6%) from 2023

Net Income

Down

$24,106

Down $12,343 (-34%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $255,825Liabilities 2011: $02011Assets 2012: $278,235Liabilities 2012: $2,0702012Assets 2013: $279,783Liabilities 2013: $2,3242013Assets 2014: $295,723Liabilities 2014: $4,1002014Assets 2015: $368,754Liabilities 2015: $2,490Net Assets 2015: $366,2642015Assets 2016: $389,072Liabilities 2016: $2,2762016Assets 2017: $413,713Liabilities 2017: $2,6782017Assets 2018: $420,693Liabilities 2018: $3,5492018Assets 2019: $450,598Liabilities 2019: $3,4952019Assets 2020: $451,275Liabilities 2020: $2,255Net Assets 2020: $449,0202020Assets 2021: $478,224Liabilities 2021: $2,401Net Assets 2021: $475,8232021Assets 2022: $1,451,385Liabilities 2022: $2,313Net Assets 2022: $1,449,0722022Assets 2023: $1,471,105Liabilities 2023: $1,867Net Assets 2023: $1,469,2382023Assets 2024: $1,503,119Liabilities 2024: $3,659Net Assets 2024: $1,499,4602024

Highlighted filing

2024

Assets$1,503,119
Liabilities$3,659
Net Assets$1,499,460

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $147,820Expenses 2011: $143,733Net Income 2011: $4,0872011Revenue 2012: $138,305Expenses 2012: $125,711Net Income 2012: $12,5942012Revenue 2013: $137,560Expenses 2013: $131,842Net Income 2013: $5,7182013Revenue 2014: $145,709Expenses 2014: $135,455Net Income 2014: $10,2542014Revenue 2015: $193,537Expenses 2015: $113,844Net Income 2015: $79,6932015Revenue 2016: $130,561Expenses 2016: $112,469Net Income 2016: $18,0922016Revenue 2017: $131,407Expenses 2017: $115,105Net Income 2017: $16,3022017Revenue 2018: $130,973Expenses 2018: $114,489Net Income 2018: $16,4842018Revenue 2019: $129,702Expenses 2019: $112,456Net Income 2019: $17,2462019Revenue 2020: $130,733Expenses 2020: $132,718Net Income 2020: -$1,9852020Revenue 2021: $130,037Expenses 2021: $111,821Net Income 2021: $18,2162021Revenue 2022: $1,127,989Expenses 2022: $134,813Net Income 2022: $993,1762022Revenue 2023: $164,783Expenses 2023: $128,334Net Income 2023: $36,4492023Revenue 2024: $155,810Expenses 2024: $131,704Net Income 2024: $24,1062024

Highlighted filing

2024

Revenue$155,810
Expenses$131,704
Net Income$24,106

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.50$0.00$1.50$0.16$0.13$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.47$0.00$1.47$0.16$0.13$0.04
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.45$0.00$1.45$1.13$0.13$0.99
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.00$0.48$0.13$0.11$0.02
2020Detailed filing. Detailed filing data is available for this year.$0.45$0.00$0.45$0.13$0.13$0.00
2019Summary only. Only limited summary data is available for this year.$0.45$0.00$0.13$0.11$0.02
2018Summary only. Only limited summary data is available for this year.$0.42$0.00$0.13$0.11$0.02
2017Summary only. Only limited summary data is available for this year.$0.41$0.00$0.13$0.12$0.02
2016Summary only. Only limited summary data is available for this year.$0.39$0.00$0.13$0.11$0.02
2015Summary only. Only limited summary data is available for this year.$0.37$0.00$0.37$0.19$0.11$0.08
2014Summary only. Only limited summary data is available for this year.$0.30$0.00$0.15$0.14$0.01
2013Summary only. Only limited summary data is available for this year.$0.28$0.00$0.14$0.13$0.01
2012Summary only. Only limited summary data is available for this year.$0.28$0.00$0.14$0.13$0.01
2011Summary only. Only limited summary data is available for this year.$0.26$0.00$0.15$0.14$0.00
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2022 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 25, 2023
Return Version
2022v5.0
Gross Receipts
$1,127,989
Mission and Program Overview

Mission

Schedule O

To create a vibrant future for agriculture, farm families their communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$193,728$184,590▼ $9,138
Investments in Publicly Traded Securities$135,488$129,957▼ $5,531
Other Notes and Loans Receivable, Net$33,844$25,339▼ $8,505
Accounts Receivable$2,599$2,713▲ $114
Land, Buildings, and Equipment, Net$297$223▼ $74
Total Assets$478,224$1,451,385▲ $973,161
Other Assets Total$112,268$1,108,563▲ $996,295
Liabilities
Accounts Payable and Accrued Expenses$1,901$1,813▼ $88
Deferred Revenue$500$500→ $0
Total Liabilities$2,401$2,313▼ $88
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$995,176-
Net Assets Without Donor Restrictions$475,823$453,896▼ $21,927
Total Net Assets Fund Balance$475,823$1,449,072▲ $973,249
Total Liabilities and Net Assets / Fund Balance$478,224$1,451,385▲ $973,161

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$223$35,292$35,515
Other Assets Org$995,176--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Dan HanrahanVoting Delegate$45$45
James BaurVice President$45$45
Justin SullivanSecretary$45$45
Robert Witt JrPresident$45$45
Diane LairDirector$45$45
Dwight HonnoldDirector$45$45
Jeff KochDirector$45$45
Jeff RidgwayDirector$45$45
John La FratteDirector$45$45
Larry WildinDirector$45$45
Michael PeifferDirector$45$45
Pat LynchDirector$45$45

Board Members and Trustees

NameTitle
Justin KeatingDirector
Travis HurshDirector
Jessica HurshTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$996,526
Program Service Revenue
$79,065
Investment Income
$31,414
Other Revenue
$20,984
Change in Net Assets
$993,176

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Secur Prtnrshp Trust Intrsts1$995,176Fair Market Value (FMV)
Total Noncash Contributions1$995,176-

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,127,989
Revenue Not Reported on Form 990
$-19,927
Total Revenue per Audited Statements
$1,108,062
Total Revenue per Form 990
$1,127,989
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$73,514
Salaries, Compensation, and Employee Benefits$36,552
Grants and Similar Amounts Paid$20,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates---$38,654
Other Salaries and Wages---$23,484
Grants to Domestic Orgs---$18,000
Conferences and Meetings---$12,356
Other Employee Benefits---$10,440
Office Expenses---$8,070
Benefits to Members---$4,247
Advertising---$3,312
Payroll Taxes---$2,628
Grants to Domestic Individuals---$2,500
Occupancy---$2,400
Fees for Services Management---$1,757
Insurance---$1,083
Other Expenses---$888
Fees for Services Accounting---$850
Travel---$94
Depreciation Depletion---$74
Total Functional Expenses$0$0$0$134,813

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$134,813
Total Expenses per Audited Statements$134,813
Total Expenses per Form 990$134,813
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Madison County Development GroupWinterset, IA501c3Disaster Relief Fund$10,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Any person may be a Farm Bureau member. All Farm Bureau members have the same vote and access to member benefits.

Form 990, Part VI, Section A, Line 7A

The organizations members elect the Board of Directors. In order to hold an officer position within Farm Bureau, the member must be actively engaged in farming, which must be their primary interest.

Form 990, Part VI, Section A, Line 7B

Decisions of the governing body subject to approval by members include setting annual membership dues and nominating voting delegates to the Iowa Farm Bureau Federation.

Form 990, Part VI, Section B, Line 11B

After the organizations CPA firm prepares the documentation and return, management reviews the documents and presents the return to all members of the governing body. Following final approval, the return is signed by an officer and submitted to the IRS.

Form 990, Part VI, Section B, Line 12C

On an annual basis, the organization requires the governing body and key employees to sign a conflicts of interest policy certification stating that they have received, read and agree to comply with the provisions set forth in the organizations conflicts of interest policy.

Form 990, Part VI, Section C, Line 19

The organization does not make its governing documents, conflicts of interest policy, or financial statements available for public inspection. Pursuant to state law, some documents may be available to members.

Filing and Contact Details

Filer

Filer Name
Iowa Farm Bureau Federation
EIN
42-0680738
Phone
5154622661
Address
PO BOX 32 115 WEST COURT, WINTERSET, IA 50273
Doing Business As
Madison County Farm Bureau

Signing Officer

Name
Jessica Hursh
Title
Treasurer
Phone
5154622661
Signed
2023-07-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Witt Jr
Formed
1917
Legal Domicile
Ia
Voting Board Members
15
Independent Board Members
15
Employees
1
Volunteers
27

Preparer

Firm
Gardinercompany Pc
Address
10555 NEW YORK AVE, DES MOINES, IA 50322
Preparer
Max N Studer CPA
Phone
5152701446
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

The Company has various programs that are aimed at providing information to members on current agricultural issues through newsletters, meetings, etc. 1,753 members were benefitted in this manner during 2022.

Financial Statement Notes

X 2

FOOTNOTES IN FINANCIAL STATEMENTS Summary of Significant Accounting Policies In accordance with the Income Taxes Topic FASB ASC, the Company evaluates uncertain tax benefits arising from tax positions taken or expected to be taken based on the liklihood of being sustained upon examination by applicable tax authorities. If the Company determines that a tax position is more likely than not of being sustained, it recognizes the largest amount of the arising benefit that is greater than 50 of being realized upon settlement in the financial statements. Any tax positions taken or expected to be taken that do not pass the more likely than not test, the Company establishes reserves offsetting the benefits related to such positions. Interest and penalties if any, are included in the current provision for income taxes in the Companys statements of activities and are included as a current liability in the statement of financial position. Income Tax Footnote The Company has evaluated its tax positions and has concluded that the organization had taken no uncertain tax positions that require adjustment to the financial statements nor was there any unrelated business income for the year ending December 31, 2022.

Raw XML AppendixShowing 400 of 460 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0PUBLIC POLICY The Company is very active in their Policy Development and Policy Implementation activities. An opinionnaire is sent to approximately 266 members each year with issues dealing with local, state, and national issues. Proposed resolutions are formulated and presented at a board meeting and thoroughly debated and amended. Adopted resolutions are then supported by the voting delegate at the state policy conference. The Companys board and members then support local and state policy by contacting the representatives and lawmakers. The Company host Legislative forum meetings every month to stay in touch with lawmakers. The Company board members attend meetings held at the capital to support Farm Bureau policy. The Company meets National representatives to discuss national issues at a regional board meeting.
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IRS990/Form990PartVIISectionAGrp/PersonNm0ROBERT WITT JR
IRS990/Form990PartVIISectionAGrp/PersonNm1JAMES BAUR
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IRS990/Form990PartVIISectionAGrp/PersonNm7DWIGHT HONNOLD
IRS990/Form990PartVIISectionAGrp/PersonNm8LARRY WILDIN
IRS990/Form990PartVIISectionAGrp/PersonNm9JOHN LA FRATTE
IRS990/Form990PartVIISectionAGrp/PersonNm10MICHAEL PEIFFER
IRS990/Form990PartVIISectionAGrp/PersonNm11JEFF KOCH
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IRS990/Form990PartVIISectionAGrp/PersonNm13JUSTIN KEATING
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt3VOTING DELEGATE
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
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IRS990/MissionDesc0To create a vibrant future for agriculture, farm families their communities.
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IRS990/PrincipalOfficerNm0Robert Witt Jr
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0FBL DEFERRED ANNUITY INVESTMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1EQUITY IN OTHER ORGANIZATIONS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2NON-MARKETABLE LLC ORGANIZATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FOOTNOTES IN FINANCIAL STATEMENTS Summary of Significant Accounting Policies In accordance with the Income Taxes Topic FASB ASC, the Company evaluates uncertain tax benefits arising from tax positions taken or expected to be taken based on the liklihood of being sustained upon examination by applicable tax authorities. If the Company determines that a tax position is more likely than not of being sustained, it recognizes the largest amount of the arising benefit that is greater than 50 of being realized upon settlement in the financial statements. Any tax positions taken or expected to be taken that do not pass the more likely than not test, the Company establishes reserves offsetting the benefits related to such positions. Interest and penalties if any, are included in the current provision for income taxes in the Companys statements of activities and are included as a current liability in the statement of financial position. Income Tax Footnote The Company has evaluated its tax positions and has concluded that the organization had taken no uncertain tax positions that require adjustment to the financial statements nor was there any unrelated business income for the year ending December 31, 2022.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0Disaster Relief Fund
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0Madison County Development Group
IRS990ScheduleI/RecipientTable/RecipientEIN0421303617
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01217 N 6th Ave STE 3
IRS990ScheduleI/RecipientTable/USAddress/CityNm0Winterset
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Company has various programs that are aimed at providing information to members on current agricultural issues through newsletters, meetings, etc. 1,753 members were benefitted in this manner during 2022.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Any person may be a Farm Bureau member. All Farm Bureau members have the same vote and access to member benefits.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organizations members elect the Board of Directors. In order to hold an officer position within Farm Bureau, the member must be actively engaged in farming, which must be their primary interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Decisions of the governing body subject to approval by members include setting annual membership dues and nominating voting delegates to the Iowa Farm Bureau Federation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4After the organizations CPA firm prepares the documentation and return, management reviews the documents and presents the return to all members of the governing body. Following final approval, the return is signed by an officer and submitted to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5On an annual basis, the organization requires the governing body and key employees to sign a conflicts of interest policy certification stating that they have received, read and agree to comply with the provisions set forth in the organizations conflicts of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The organization does not make its governing documents, conflicts of interest policy, or financial statements available for public inspection. Pursuant to state law, some documents may be available to members.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, Line 19
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