2023-11-09T18:20:28Z 2022-12-31 990 2022-01-01 521354382 MARYLAND FFA FOUNDATION INCORPORATED MARY 2404642279 PO BOX 1056 Eldersburg MD 21784 Roy S Walls Jr Executive Treasurer 2404642279 2023-11-09 2022 2023-04-26 12:10:37Z Roy S Walls Jr 9104 49th Avenue College Park MD 20740 206322 false X https://www.mdffafoundation.org/ X 1982 MD The MD FFA Foundation raises funds to support the student members of the MD FFA Association. The MD FFA Association has 54 local chapters located across the State of Maryland in the local public schools at the middle and high school level, which serves some 2,500 student members. The MD FFA Foundation raises funds to support FFA career development events, leadership related conferences and workshops. 15 1515 0 15 0 0 130183 138654 0 0 104888 60048 610 7620 235681 206322 94369 124346 0 0 3500 3500 0 0 1750 13383 25051 111252 152897 124429 53425 872143 751711 0 0 872143 751711 X The MD FFA Foundation raises funds to support the student members of the MD FFA Association. The MD FFA Association has 54 local chapters located across the State of Maryland in the local public schools at the middle and high school level, which serves some 2,500 student members. The MD FFA Foundation raises funds to support FFA career development events, leadership related conferences and workshops. false false 20544 95952 101393 Annual fund-raising grants to MD FFA Association provides leadership opportunities for over 2500 MD FFA Association student members. This amount helps to offset the costs of awards, programs, and student travel to out of state competitions for the first and second place teams. This grant also helps offset the costs of the MD FFA Association's Annual State Convention for the student FFA members. Many competitive events related to agricultural career development are also held where the students receive award pins or plaques for their placing in the event(s) with photos suitable for publication use in local or social media outlets. The MD FFA Foundation also provides funds for 100 needy FFA members who cannot afford the official dress of the student organization. One hundred jackets, ties/scarfs are provided. Funds also support the cost of State FFA Officers travel for local chapter visits where they provide a leadership workshop activity, bring greetings, or a keynote address at a local FFA chapter function. Revenue to support this activity is from our donor contributions to our fund-raising efforts. Expenses include travel, officer workshop supplies, fees paid on the management of investment funds. 14591 38700 34708 This activity is supported by a grant from our Joseph Byrd Damascus FFA Account through an annual donation managed by the Community Foundation of Frederick County, MD as a targeted grant to a local FFA chapter in Montgomery County, MD. Mr. Joseph Byrd's Will indicates that proceeds from his fund support the closest FFA Chapter to Poolesville, MD which is currently the Damascus, MD FFA Chapter. The revenue of $ 34707.70 will be transferred to a separate checking account which we manage for the local chapter. The chapter advisor requests funds from this account to pay for student registrations and travel to state and/or out of state events. This fund also supports the classroom expenses for supplies or technology that the program might need. Funds may also be used for advisor/teacher travel and training. The local chapter advisor does not have signature power on this checking account. Expenses include chapter purchases or registrations, banking and investment management fees on an investment account held and controlled by the MD FFA Foundation. 1074 7500 7918 Seven scholarships of $1,000 each were granted to other educational institutions/organizations to support post-secondary education of student FFA members who applied for a scholarship through our Wiley and Carrie Griffith Investment Fund. One returned scholarship amount of $500 from CY2021 was also issued to a post secondary school. Revenue is based on the increase in value of the investment account supporting the scholarships and targeted donations received. Expenses are from the management fees paid on that same investment account. A Net Value Decrease of $ 25,465.11 is noted on this investment account and is included in the investment value losses in Part IX: Reconciliation of Net Assets in CY2022. Expenses indicate the investment management fees charged to this account. 768 6303 5667 36977 true true false false false false false false false true false false true false false false false false false false false false false false false false false true true false false false false false false true false false false false false false false true false false false true 1 0 true 0 true false true false false false false false false false false false false false false false false false false false X 15 1515 false false false false false false false true true true false true true true false false false true false false MD X Roy S Walls Jr 2404642279 9104 49th Avenue College Park MD 20740 Mrs Terrie Shank Secretary 8.00 0.00 X X 0 0 0 Mr George Mayo Vice-Chairman 6.00 0.00 X X 0 0 0 Mr Roy W Walls Jr Executive Treasurer 8.00 0.00 X X 0 0 0 Mr Jason Watt Chairman 8.00 0.00 X X 0 0 0 Mr Mark Milby Executive Director 8.00 0.00 X X 3500 0 0 Mr David A Miller Trustee 2.00 0.00 X 0 0 0 Mr J Joe D Repp Trustee 2.00 0.00 X 0 0 0 Dr Scott Glenn Trustee 2.00 0.00 X 0 0 0 Mr E Alan Heflin Trustee 2.00 0.00 X 0 0 0 Mrs Lori Powell Mayhew Trustee 2.00 0.00 X 0 0 0 Mr William D Schrodel Trustee 2.00 0.00 X 0 0 0 Mr Charles Schuster Trustee 2.00 0.00 X 0 0 0 Dr Les Vough Trustee 2.00 0.00 X 0 0 0 Mr Joseph Linthicum Trustee 2.00 0.00 X 0 0 0 Mrs Quinn Cashell Martin Trustee 2.00 0.00 X 0 0 0 3500 0 0 0 false false false 0 0 0 0 0 0 138654 0 138654 0 0 0 60048 60048 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 IRS Penalty Refund Check #07622667 900099 7620 7620 0 0 0 0 0 0 7620 206322 67668 0 0 114296 114296 10050 10050 0 0 0 0 3500 0 1750 1750 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5716 5716 0 0 0 0 0 0 0 0 0 0 1809 1809 0 0 7028 7028 0 0 0 0 0 0 0 0 0 0 4434 4434 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 944 944 0 0 IRS Penalty for 2021 filing 5120 5120 0 0 152897 149397 1750 1750 42565 27706 44276 58238 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 785302 665767 0 0 0 0 872143 751711 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 351503 292910 520640 458802 0 0 0 0 0 0 872143 751712 872143 751712 53425 -179573 0 5716 0 0 X X false false true false X 0 119873 165000 107096 130183 138654 660806 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 119873 165000 107096 130183 138654 660806 1840 4175 1400 3000 4230 14645 0 0 0 0 0 0 1840 4175 1400 3000 4230 14645 646161 25177 108732 200167 104888 60048 499012 0 0 0 0 0 0 25177 108732 200167 104888 60048 499012 0 0 0 0 0 0 0 0 0 610 7620 8230 145050 273732 307263 235681 206322 1168048 0.55320 0.55190 0.42720 0.43610 X Part III, Line 12 Schedule A: Part III Line 12 indicates a total of $8,230 of Miscellaneous income. This amount stems from $610 of checks lost in the mail which were credited back to the checking account for the 2021 year and later reissued. I appealed fines paid to IRS for 2020 and 2021 and received $7,620 as a refund from the IRS. Interest of $56.36 on the refund from IRS is included in normal interest reporting in this Form 990. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 785301 10400 -124217 5717 0 0 665767 673883 28100 92417 0 0 9099 785301 589535 0 77244 0 0 7105 659674 472580 85120 88811 0 0 7024 639487 495063 135055 -38380 0 0 5844 585894 0.33500 0.66500 0.00000 false true true NFFAF Ag Ed FFA Program Damascus Pool 114942 NFFAF General Fund Pool 38749 NFFAF Mathwig Pool 80804 NFFAF Cooper Fund Pool 134173 NFFAF MD Regional LDE CDE Pool 111512 PNC Investments Endowment Acct 72670 NFFAF Wiley & Carrie Griffith Fund Pool 112916 665766 Part V, Line 4 Endowment funds are used to grow the assets of the MD FFA Foundation, Inc. Twenty five percent (25%) of net investment income on these accounts is reserved per policy of the Board of Trustees in the account to accumulate growth of the accounts. 75% of the net investment income would then be available if needed to meet our program purposes to support the MD FFA Association, its chapters, or student members. The 75% calculation of net investment income is used in this filing as "Quasi-endowed". Money not spent to support our chartered purposes would continue to grow the endowment accounts but is ready for potential use as previously designated by action of our Board of Trustees. Our accounts with the National FFA Foundation Pooled Investment Fund (NFFAF) have minimum withdraw amounts of $10,000 so it is rare that we need to transfer money back to one the two checking accounts. Our PNC Investment account can receive or transfer any amount from/to our general checking account. This investment account is used much like a savings account to accumulate funds to further transfer to the NFFAF Pooled Investment which requires a minimum $10,000.00 transfer to our accounts there on a quarterly basis. The PNC investment account can also be used to meet emergency needs in our general checking account which has not been done for several years. true MD FFA Association Inc 200 W Baltimore Street Baltimore MD 21201 520796956 501(c)3 9595210 0 FMV None Program support 1 0 Program participation 3 2550 0 FMV None Scholarships to schools 8 7500 0 FMV None Part I, Line 2 The monitoring of grants to the MD FFA Association is observed in the constant email communications from the Associate Director responsible for the leadership and allocation of those grant monies for specific activities. Contributors can indicate which activity or in some cases multiple activities that they would like to support. Grant money is used by the MD FFA Association to conduct its program components that help offset the overall costs of participation of the high school student(s) activities who are student FFA members. Our organization certainly sees evidence in how our funds were spent when we see their publicity on social media that FFA members receive for their participation in these activities. The State FFA Officers present a report on recent activities at each of our four Board of Trustees meetings during the year. Results of the competitive events are published via email on a listserv. An Annual Report is also prepared by the MD FFA Association which is a required report to the National FFA Organization. Data from this report is used to create a Year in Review from the MD FFA Association that is distributed by a listserv email process. The Associate Di rector of the MD FFA Association also serves as our Secretary of the MD FFA Foundation and will calendar items for budget consideration that are pertinent as they develop new activities that we might consider sponsoring. There is also some overlap of Board members who serve on both our Board of Trustees of the Maryland FFA Foundation and the Board of Directors of the MD FFA Association, Inc. that volunteer for student events and can report to our Board of Trustees. Mark Milby Contractor Board member 3500 Contracted services false Part IV, Line 1 MD FFA Foundation does not have employees. We have a contract with Mark Milby to serve as our Executive Director. He is responsible for day to day management, grant writing and fund raising requests to our supporters. Part III, Line 4d Frederick County FFA Chapters Grant: 2000.00 Expense: 768.48 Income: 5,666.51 A grant of $2000 was disbursed to the Frederick County FFA Chapters Leadership account. This grant is supported by our Mathwig account. The funds are used for county wide leadership training for 10 local high school FFA chapter officers. Expenses noted are the investment fees charged to this account. Also noted is an investment net value loss of 18,223.11 which is included in the net value losses in Part XI: Reconciliation of Net Assets in CY2022. Expenses indicate the investment management fees charged to this account. ILSSO 2022 Grant: 2550.00 Expense: 0 Income: 1,050.00 The MD FFA Foundation, Inc. provided for a portion of the registration, travel, lodging and participation to the National FFA Organization for the International Leadership Seminar for State Officers (ILSSO) from funds individually raised funds by the participant. The expense for this activity is negligible and noted as $0 as our only cost is for the postage stamp to send a check to the National FFA Organization which we would consider a normal office expense. Targeted Grant to Five Chapters Grant: $1753.00 Expenses: $0.00 Revenue: $ 753.00 A $753.00 grant from a donor who targeted the Francis Scott Key FFA Chapter as the recipient was issued. We also provided four grants of $250 each to four new FFA Chapters. MD FFA Foundation, Inc. provides $250 as start up funding when a new FFA chapter is chartered. Part VI, Line 11b The paper copy of the required parts for Form 990 and required Schedules is sent to the Board of Trustees for comment. I then begin the process of uploading the Form 990 data to one of the IRS web providers (Simple990.com). Once the Form 990 and required schedules are uploaded by one of the IRS web providers, and accepted by the IRS, the accepted Form 990 from IRS would then be downloaded and emailed to our Board of Trustees as the official filing by our organization. The electronic filing is also mailed to the Secretary of State of Maryland. The public parts of Form 990 document would also be made available to the public through first class mail request or an email request to rwalls@umd.edu, our Executive Treasurer. Part VI, Line 15a The Finance Committee recommends the stipend we pay to our Executive as a Contractor for services in their budget preparation considerations. Their recommendation would be an item of business deliberated at a Board of Trustees meeting. Part VI, Line 19 Governing documents would be made available to anyone who would request this information. Conflict of Interest documents are collected at the August Board of Trustees which has long been considered as our annual meeting. Financial statements are prepared for each Board of Trustees meeting and are distributed by the Executive Treasurer. Financial statements as well as IRS Form 990 is also published to the Secretary of the State of Maryland. A public request for these documents would be honored if received by email or first class mail delivered by the US Post Office. Part VI, Line 1a Each member of the Board of Trustees may cast one vote on items of business. Other persons may be invited to attend Board meetings but cannot cast a vote. A Maryland State FFA Association officer would be an example. He/she would present an activity report, but does not vote on items of business. Part VI, Line 9 Contact information for Board of Trustee members is as follows: Mr. Jason Watt Chairman, Board of Trustees 5959 Middleburg Road Keymar, MD 21757 301-695-2803 - W 443-277-6891 - C jason.watt@md.nacdnet.net Mr. Mark Milby Executive Director, Board of Trustees 112 Henry Avenue Eldersburg, MD 21784 443-739-7119 - C markmilby@katewwdb.com Mr. George Mayo Vice-Chairman, Board of Trustees 1311 Glencoe Road Glencoe, MD 21152 410-472-4687-H 443-243-0063-C gmayo79@gmail.com Mrs. Terrie Shank Secretary, Board of Trustees 925 North East Street Frederick, Maryland 21701 301 491-5686 - C tshank@maefonline.com Mr. Roy S. Walls, Jr. Executive Treasurer, Board of Trustees 9104 49th Avenue College Park, MD 20740 240-464-2279 C rwalls@umd.edu Dr. Scott Glenn Member, Board of Trustees 12940 Clarksville Pike Highland, MD 20777 301-523-4355-C Scottglenn312@gmail.com Mrs. Lori Powell Mayhew Member, Board of Trustees 25921 Ridge Road Damascus, MD 20872 301-253-7030 - W 240-994-4888 - C Lori_1_mayhew@mcpsmd.org Mr. E. Alan Heflin Member, Board of Trustees 11845 Creagerstown Road Woodbine, MD 21798 301-606-1518 - C alanheflin@mris.com Mr. David A. Miller Member, Board of Trustees 7413 Round Hill Road Frederick, MD 21702 301-473-5199 - H 301-788-7774 - C dmiller@maefonline.com Mr. J.D. Repp Member, Board of Trustees 13628 Blairs Valley Road Clear Spring, MD 21722 240-313-5516 C reppjd@gmail.com Mr. William D. Schrodel Member, Board of Trustees 501-515-1691 - C wschrodel@hotmail.com Mr. Charles Schuster Member, Board of Trustees 11026 Easterday Road Myersville, MD 21773 240-357-8468-C Dr. Les Vough Member, Board of Trustees 1936 Smith Station Road Hanover, PA 17331 717-630-3122- H 240-678-0274 - C vough@umd.edu Mrs. Quinn Cashell Martin Member, Board of Trustees (MATA) 10 Campus Avenue Boonsboro, MD 21713 301-766-8022 - W 717-491-6311 - C cashequi@wcps.k12.md.us Mr. Joseph Linthicum Member, Board of Trustees 2780 Rowe Road New Windsor, MD 21776 410-868-2567 linthicumj@hotmail.com Part VIII Line 11a Miscellaneous Revenue A refund of previous penalties of $7,676.36 was received for two penalties paid to IRS in 2020 and 2021. $7,620.00 is reported as Miscellaneous income on line 11a. The balance of Interest of $56.36 earned on the penalty refund noted in Quicken records is included in Investment income on Line 3 of Investment Income. Part XII, Line 2c The Executive Treasurer completes a review of the accounts and bookkeeping in preparation of our internal audit process. The Finance Committee serves as an internal auditing committee to review the calendar year final financial report. The Finance Committee in the auditing process will look for errors and provide recommendations on how to track the different types of transactions. Maryland FFA Association Inc 200 W Baltimore Street Baltimore MD 21201 520796956 Youth Development Agr MD 501(c)3 10 No false National FFA Foundation 6060 FFA Drive Indianapolis IN 46268 546044662 Youth Development Agr IN 501(c)3 10 No false false true false false false true false false false false false false true false false false false true false National FFA Foundation investment gain f 41592 FMV National FFA Organization r 2550 Cash National FFA Foundation investment loss f -133806 FMV National FFA Organization m 4441 Cash Maryland FFA Association b 95952 Cash Part V, Line 2: 1-6 Part V, Line 2: 1-6 The Maryland FFA Organization/Foundation is related to the National FFA Foundation. The Give button on our website is powered by giving a gift to us through the National FFA Foundation. They reserve 18% of a gift to provide that service of gifting electronically. These gifts are shown as a type m transaction. The National FFA Foundation has a Pooled Investment Fund that state FFA foundations can invest in. They charge a management fee for this service but historically, the investment return has been greater than a typical commercial investment organization like PNC Investments where we also have funds invested. These transactions are labeled as type r or type s where appropriate in transfers of monies to/from the National FFA Foundation. Form 990 is a complex filing for me in my concussion recovery process. IRS allows the filing of a form 8868 to extend the filing deadline.