2024-09-11T16:42:28-05:00 2023-10-31 882730877 CHERRY BEKAERT ADVISORY LLC 101 SOUTH 5TH STREET STE 2100 LOUISVILLE KY 40202 990 2022-11-01 610443949 KENTUCKY FARM BUREAU FEDERATION KENT 5024955000 9201 BUNSEN PARKWAY PO BOX 20700 LOUISVILLE KY 402500700 DREW GRAHAM EXECUTIVE VICE PRESIDENT 5024955000 2024-08-13 1 1 AMY DOSIK P00890743 8885871719 2022 2024-08-08 14:25:15Z DREW GRAHAM 9201 BUNSEN PARKWAY PO BOX 20700 LOUISVILLE KY 402500700 17696424 0 1631 X WWW.KYFB.COM X 1921 KY KENTUCKY FARM BUREAU IS A GRASSROOTS ORGANIZATION DEDICATED TO SERVING OUR MEMBERSHIP FAMILY AND THEIR COMMUNITIES. AS THE VOICE OF AGRICULTURE, WE IDENTIFY PROBLEMS, DEVELOP SOLUTIONS, PROMOTE ECONOMIC SUCCESS, AND ENHANCE THE QUALITY OF LIFE FOR ALL. 34 31 43 3 1835501 0 0 0 7851002 8336818 1827282 2068378 5179046 5153153 14857330 15558349 7245 3289 156021 156737 6676508 5827476 0 0 0 7287421 7874679 14127195 13862181 730135 1696168 26451843 28612645 10441192 10342314 16010651 18270331 X KENTUCKY FARM BUREAU IS A GRASSROOTS ORGANIZATION DEDICATED TO SERVING OUR MEMBERSHIP FAMILY AND THEIR COMMUNITIES. AS THE VOICE OF AGRICULTURE, WE IDENTIFY PROBLEMS, DEVELOP SOLUTIONS, PROMOTE ECONOMIC SUCCESS, AND ENHANCE THE QUALITY OF LIFE FOR ALL. 0 0 THE KENTUCKY FARM BUREAU FEDERATION WAS INCORPORATED ON FEBRUARY 15, 1921, UNDER THE LAWS OF THE COMMONWEALTH OF KENTUCKY, AS A NON-PROFIT ORGANIZATION WITHOUT CAPITAL STOCK, FOR THE ADVANCEMENT AND IMPROVEMENT OF AGRICULTURAL AND ALLIED INTERESTS OF THE FARMERS OF KENTUCKY. THE FEDERATION IS AN ORGANIZATION OF THE VARIOUS COUNTY FARM BUREAUS OF KENTUCKY AND THEIR MEMBERS, AND IS SUPPORTED BY MEMBERSHIP DUES FROM THESE COUNTY UNITS. ADDITIONAL INCOME IS RECEIVED FROM EARNINGS ON INVESTMENTS; FROM RENTAL OF OFFICE SPACE; FROM ROYALTIES AND LICENSING AGREEMENTS; AND FROM OTHER SUNDRY SOURCES.THE FEDERATION HAS THE POWER TO ACQUIRE AND HOLD PROPERTY; TO ACCEPT GIFTS AND BEQUESTS; TO APPROPRIATE AND EXPEND FUNDS FOR THE ADVANCEMENT OF FARMING AND ITS ALLIED INTERESTS; AND TO PERFORM ALL ACTS NECESSARY TO CARRY OUT THE PURPOSE FOR WHICH IT WAS ORGANIZED AND WHICH IT IS EMPOWERED TO DO UNDER ACTS OF THE KENTUCKY LEGISLATURE.AT OCTOBER 31, 2023, THERE WERE 474,378 PAID MEMBERSHIPS BEING SERVED BY THE KENTUCKY FARM BUREAU FEDERATION THROUGH THEIR PROGRAMS. 0 0 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 91 0 1 43 1 1 1 0 0 0 0 0 0 0 X 34 31 0 0 0 0 1 1 0 1 1 0 1 0 0 1 1 1 1 0 1 1 0 X PHILIP R DOWDLE CPA 5024955000 9201 BUNSEN PARKWAY LOUISVILLE KY 40220 ALVAN D GRAHAM EXECUTIVE VICE PRESIDENT 40.00 1.10 X 471655 0 38573 MATTHEW W INGRAM ORGANIZATION DIRECTOR 40.00 0.00 X 271500 0 353382 THOMAS M LOGUE OPERATIONS DIRECTOR (ENDED 7/22) 40.00 0.00 X 231897 0 10242 JEFFREY T HARPER PUBLIC AFFAIRS DIRECTOR (ENDED 11/22) 40.00 0.00 X 225234 0 17349 LAWRENCE J CAIN COMMODITY DIRECTOR (ENDED 8/22) 40.00 0.00 X 210792 0 18608 SCOTT B CHRISTMAS WOMENS AND AD EDUCATION DIRECTOR (ENDED 11/22) 40.00 0.00 X 161376 0 24603 BRIAN T BRIGHT COMMUNICATIONS DIRECTOR 40.00 0.00 X 159365 0 39395 MARK HANEY PRESIDENT 20.00 2.20 X X 0 142630 13447 PHILIP R DOWDLE FINANCE AND OPERATIONS DIRECTOR 40.00 0.00 X 142674 0 35198 EDDIE MELTON FIRST VICE PRES 18.00 2.20 X X 0 111505 18992 SHARON FURCHES SECOND VICE PRESIDENT 18.00 2.20 X X 0 119605 0 SHANE WISEMAN DIRECTOR 2.00 0.60 X 0 29050 12377 J SCOTT DAVIS DIRECTOR 2.00 0.50 X 0 4650 23663 JOE PAUL MATTINGLY DIRECTOR 2.00 0.60 X 0 0 26467 VICTOR REXROAT DIRECTOR 2.00 0.50 X 0 25485 0 TIM GOODLETT DIRECTOR 2.00 0.50 X 0 25285 0 LARRY THOMAS DIRECTOR 2.00 0.60 X 0 0 24995 MITCHEL LOGSDON DIRECTOR 2.00 0.50 X 0 23285 0 TYLER FERGUSON DIRECTOR 2.00 0.50 X 0 23285 0 MARY KATE KORDES DIRECTOR 2.00 0.50 X 0 22285 0 STEWART HUGHES DIRECTOR 2.00 0.50 X 0 21885 0 RAY ALLAN MACKEY DIRECTOR 2.00 0.50 X 0 20735 0 MARY JANE CANNON DIRECTOR 2.00 0.00 X 0 20485 0 PJ MILBURN DIRECTOR 2.00 0.50 X 0 20085 0 ZACK ISON DIRECTOR 2.00 0.50 X 0 20035 0 SCOTT BARNES DIRECTOR 2.00 0.50 X 0 18885 0 ANTHONY BROCK DIRECTOR 2.00 0.50 X 0 16735 0 ALEX BARNETT DIRECTOR 2.00 0.60 X 0 8150 3651 MARK KINSEY DIRECTOR 2.00 0.60 X 0 11350 0 MARSHALL COYLE PAST PRESIDENT 2.00 0.60 X 0 4950 5250 LARRY CLARK DIRECTOR 2.00 0.70 X 0 10150 0 RICKY LEE ARNETT DIRECTOR 2.00 0.00 X 0 10150 0 CLOYCE WARREN HINKLE DIRECTOR 2.00 0.60 X 0 4650 5043 GLENN HOWELL DIRECTOR 2.00 0.60 X 0 7550 0 TERRY LAWSON DIRECTOR 2.00 0.60 X 0 7550 0 DAVID MCGLONE DIRECTOR 2.00 0.60 X 0 6950 0 KELLY THURMANTERM DATE 1222 DIRECTOR 2.00 0.60 X 0 6350 0 ROGER FANNIN DIRECTOR 2.00 0.00 X 0 4350 0 BRANDON K DAVIS DIRECTOR 2.00 0.00 X 0 3750 0 HEATHER GRAHAMTERM DATE 1222 DIRECTOR 2.00 0.00 X 0 1400 0 SCOTT TRAVISTERM DATE 1222 DIRECTOR 2.00 0.10 X 0 800 0 SARAH BETH GUFFEY DIRECTOR 2.00 0.00 X 0 713 0 ELI MANN DIRECTOR 2.00 0.00 X 0 0 0 NANCY COX DIRECTOR 2.00 0.10 X 0 0 0 TAMMY WHITE DIRECTOR 2.00 0.50 X 0 0 0 1874493 754723 671235 15 1 1 0 SAP CONSULTING LLC PO BOX 685 MT VERNON KY 40456 CONSULTING SERVICES 136758 C & H AUDIO VISUAL SERVICES 4850 CRITTENDEN DRIVE STE 3F LOUISVILLE KY 40209 A/V 132537 ARTISAN LANDSCAPE MANAGEMENT 2213 MARKHAM COURT LEXINGTON KY 40504 LANDSCAPING 109946 3 MEMBERSHIP DUES - STATE PORTION 900099 2600282 2600282 DUES RECEIVED-AFBF PORTION 900099 2371890 2371890 MEMBER PROGRAM REVENUE 900099 1231961 1231961 CONSULTING SERVICES 541610 1023508 1023508 MEMBERSHIP BILLING SERVICE 561000 537857 537857 571320 17270 233812 320238 8336818 1807940 18250 1789690 2388399 2388399 2736000 0 2736000 2736000 2730000 6000 1875417 523096 1875238 262837 179 260259 260438 260438 11337 0 11337 11337 PROMOTION FBB MEMBER SERV 561000 16074 16074 SUNDRY INCOME 900099 1343 1343 17417 15558349 3990568 1835501 9732280 3289 156737 512513 3697436 627423 719442 270662 973126 6390 74114 193692 176636 285289 406882 700806 2732350 517863 104604 BOARD EXPENSES 568259 MEMBERSHIP AND BILLING 568178 COUNTY INCENTIVE PROGRA 332277 TAXES AND LICENSES 221349 12864 13862181 155172 309780 2009811 2693616 453290 655230 324946 281674 24381742 15418046 9187499 8963696 7137185 12166760 7183940 3541889 26451843 28612645 1960388 1539502 125000 125000 8355804 8677812 10441192 10342314 X 16010651 18270331 16010651 18270331 26451843 28612645 X 1696168 -94750 658262 X X 0 1 X 1 0 1 0 0 1153262 1153262 18239289 12529770 5709519 2220332 1558767 661565 2768859 1329509 1439350 8963696 1760915 C INVESTMENT CONTRACT-KFB MUTUAL 1330974 C NOTE RECEIVABLE-KFB DEVELOPMENT 450000 C 3541889 EMPLOYEES POST RETIREMENT BENEFIT OB 5385057 DEFERRED AMOUNTS DUE KFB MGMT CORP 2478315 DIRECTOR POST RETIREMENT 814440 8677812 X PART X, LINE 2: THE FEDERATION IS A NOT-FOR-PROFIT ORGANIZATION EXEMPT FROM INCOME TAX UNDER THE PROVISIONS OF SECTION 501(C)(5) OF THE INTERNAL REVENUE CODE. HOWEVER, THE FEDERATION IS SUBJECT TO INCOME TAX ON CERTAIN UNRELATED BUSINESS INCOME. THE EDUCATION FOUNDATION IS A NOT-FOR-PROFIT CORPORATION EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE DEVELOPMENT CORPORATION, INVESTMENT CORPORATION AND MANAGEMENT CORPORATION ARE KENTUCKY CORPORATIONS SUBJECT TO FEDERAL, STATE, AND LOCAL INCOME TAXES. DEFERRED TAX ASSETS AND LIABILITIES ARE RECOGNIZED FOR THE FUTURE TAX CONSEQUENCES ATTRIBUTABLE TO DIFFERENCES BETWEEN THE FINANCIAL STATEMENT CARRYING AMOUNTS OF EXISTING ASSETS AND LIABILITIES AND THEIR RESPECTIVE TAX BASES. DEFERRED TAX ASSETS AND LIABILITIES ARE MEASURED USING ENACTED TAX RATES EXPECTED TO APPLY TO TAXABLE INCOME IN THE YEARS IN WHICH THOSE TEMPORARY DIFFERENCES ARE EXPECTED TO BE RECOVERED OR SETTLED. THE EFFECT ON DEFERRED TAX ASSETS AND LIABILITIES OF A CHANGE IN TAX RATES IS RECOGNIZED AS INCOME OR EXPENSE IN THE PERIOD THAT INCLUDES THE STATEMENT DATE. THE ORGANIZATION RECOGNIZES UNCERTAIN INCOME TAX POSITIONS USING THE "MORE-LIKELY-THAN-NOT" APPROACH AS DEFINED IN THE ASC. NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. X 1 0 X X 0 0 0 ALVAN D GRAHAM EXECUTIVE VICE PRESIDENT 332562 0 129750 0 9343 0 23498 0 15075 0 510228 0 0 0 MATTHEW W INGRAM ORGANIZATION DIRECTOR 199269 0 62885 0 9346 0 330179 0 23203 0 624882 0 0 0 THOMAS M LOGUE OPERATIONS DIRECTOR (ENDED 7/22) 155507 0 67938 0 8452 0 2125 0 8117 0 242139 0 0 0 JEFFREY T HARPER PUBLIC AFFAIRS DIRECTOR (ENDED 11/22 167798 0 45610 0 11826 0 3191 0 14158 0 242583 0 0 0 LAWRENCE J CAIN COMMODITY DIRECTOR (ENDED 8/22) 96376 0 109160 0 5256 0 1652 0 16956 0 229400 0 0 0 SCOTT B CHRISTMAS WOMENS AND AD EDUCATION DIRECTOR (EN 135949 0 15593 0 9834 0 2293 0 22310 0 185979 0 0 0 BRIAN T BRIGHT COMMUNICATIONS DIRECTOR 114710 0 35950 0 8705 0 16192 0 23203 0 198760 0 0 0 MARK HANEY PRESIDENT 0 142630 0 0 0 0 0 13447 0 0 0 156077 0 0 PHILIP R DOWDLE FINANCE AND OPERATIONS DIRECTOR 103095 0 30968 0 8611 0 11995 0 23203 0 177872 0 0 0 PART I, LINE 1A HEALTH CLUB MEMBERSHIPS ARE REIMBURSED FOR EMPLOYEES WHO WORK OUTSIDE OF THE STATE OFFICE, WHERE FACILITIES ARE PROVIDED. FORM 990, PART VI, SECTION A, LINE 6 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. FORM 990, PART VI, SECTION A, LINE 7A 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. FORM 990, PART VI, SECTION B, LINE 10B AFFILIATED COUNTY FARM BUREAUS ARE SUBJECT TO VARIOUS AGREEMENTS WITH THE STATE AND NATIONAL FARM BUREAU ORGANIZATIONS. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S FORM 990 & 990T ARE REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND THE ASSISTANT TO THE EXECUTIVE OFFICER AND DIRECTOR OF FINANCE & ACCOUNTING PRIOR TO FILING AND ARE AVAILABLE TO THE MEMBERS OF THE BOARD OF DIRECTORS UPON REQUEST. FORM 990, PART VI, SECTION B, LINE 12C 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. FORM 990, PART VI, SECTION B, LINE 15 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. FORM 990, PART VI, SECTION C, LINE 19 NO GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN PENSION OBLIGATION 1,634,428. CHANGE IN POST-RETIREMENT BENEFIT OBLIGATIONS -599,454. NET PERIODIC PENSION BENEFIT COST -365,238. NET PERIODIC POST-RETIREMENT BENEFIT COST -11,474. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM PRIOR YEARS. KENTUCKY FARM BUREAU EDUCATION FDN 9201 BUNSEN PARKWAY PO BOX 2070 LOUISVILLE KY 402500700 616035765 SCHOLARSHIP GRANTS KY 501(C)(3) LINE 7 KENTUCKY FARM BUREAU FEDERATION 1 FARM INCOME IMPROVEMENT FOUNDATION 9201 BUNSEN PARKWAY PO BOX 2070 LOUISVILLE KY 402500700 311525389 CHARITABLE GIVING KY 501(C)(3) PF 0 KENTUCKY FARM BUREAU DEVELOPMENT CO 9201 BUNSEN PARKWAY PO BOX 20700 LOUISVILLE KY 402500700 610596348 GRP PURCH KY KENTUCKY FARM BUREAU FEDERATION C 1.00000 1 KENTUCKY FARM BUREAU INVESTMENT CORP 9201 BUNSEN PARKWAY PO BOX 20700 LOUISVILLE KY 402500700 616025555 INVESTMENT KY KENTUCKY FARM BUREAU FEDERATION C 1.00000 1 KENTUCKY FARM BUREAU MGMT CORP 9201 BUNSEN PARKWAY PO BOX 20700 LOUISVILLE KY 402500700 203459607 MGMT SERVICE KY KENTUCKY FARM BUREAU FEDERATION C 1.00000 1 1 1 0 1 0 1 0 0 0 1 0 1 0 1 1 0 1 0 0 KFB MANAGEMENT CORPORATION M 973126 MANAGEMENT SERV-DIRECTORS KFB DEVELOPMENT CORPORATION A 3000 RENT INCOME - SPACE USED KFB INVESTMENT CORPORATION A 3000 RENT INCOME - SPACE USED KFB DEVELOPMENT CORPORATION A 18250 INTEREST INCOME KFB INVESTMENT CORPORATION F 1400414 DIVIDENDS RECEIVED KFB DEVELOPMENT CORPORATION A 19250 ADMINISTRATIVE FEE KFB INVESTMENT CORPORATION A 6000 ADMINISTRATIVE FEE KFB DEVELOPMENT CORPORATION J 750000 NOTE PAYMENTS