Kentucky Farm Bureau Federation

“Members are comprised of regular voting members and associate nonvoting members. Regular members elect the voting delegates who elect the directors and establish policies of the organization at its annual meeting.”

“The board of directors, composed of representatives from each farm bureau district, are elected by the voting delegates at the state annual meeting according to policies established by the bylaws of the organization. In the case of a vacancy on the board of directors from any cause, the remaining members of the board may elect the successor to serve until the next annual meeting.”

“Affiliated county farm bureaus are subject to various agreements with the state and national farm bureau organizations.”

“The organization's form 990 and 990-t are reviewed by the chief executive officer, the assistant to the executive officer, and the director of finance and accounting before filing. These forms are made available to board members upon request.”

“Full and complete disclosure must be made by each director, officer and employee whenever such person has reason to believe that a possible conflict of interest may exist. Conflicts of interest will be fully disclosed to the board through the audit committee and management so that, if necessary, corrective action may be taken. Directors, officers and employees are directed to submit to the kentucky farm bureau audit committee at the end of each fiscal year a completed questionnaire. This information will serve as a basis for evaluation and discussion with the individual in cases where conflict of interest may appear to be present. Any new or additional information on any matter which is covered by the questionnaire shall be immediately reported to the audit committee.”

“Directors' per diem compensation level is established by the board of directors and ratified by their vote. The executive officer's compensation is established and approved by the board of directors after review of comparable compensation data in executive session and the deliberations are documented in the minutes of the meeting. All other compensation is set by the executive officer in consultation with the executive committee of the board of directors; comparability data is reviewed periodically, every 3 years at a minimum.”

“No governing documents are made available to the public.”

“Change in pension obligation -440,979. Change in post-retirement benefit obligations -1,886,132. Net periodic pension benefit cost -234,791. Net periodic post-retirement benefit cost -129,152.”

“The process has not changed from prior years.”