2025-09-15T10:55:49-05:00 2024-10-31 882730877 CHERRY BEKAERT ADVISORY LLC 101 SOUTH 5TH STREET STE 2100 LOUISVILLE KY 40202 990 2023-11-01 610443949 KENTUCKY FARM BUREAU FEDERATION KENT 5024955000 9201 BUNSEN PARKWAY PO BOX 20700 LOUISVILLE KY 402500700 DREW GRAHAM EXECUTIVE VICE PRESIDENT 5024955000 2025-09-12 1 1 MELANIE MCPEAK P01346034 8885871719 2023 2025-03-06 01:10:19Z DREW GRAHAM 9201 BUNSEN PARKWAY PO BOX 20700 LOUISVILLE KY 402500700 16084898 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. 29 26 46 4 1746995 0 0 0 8336818 8416954 2068378 2182074 5153153 5308491 15558349 15907519 3289 3925 156737 158741 5827476 6271889 0 0 0 7874679 7873718 13862181 14308273 1696168 1599246 28612645 30690071 10342314 12280881 18270331 18409190 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, 2024, THERE WERE 485,707 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 85 0 1 46 1 1 1 0 0 0 0 0 0 0 X 29 26 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 PO BOX 20700 LOUISVILLE KY 402500700 EDDIE MELTON PRESIDENT 17.00 1.00 X X 0 124980 30439 SHANE WISEMAN FIRST VICE PRESIDENT 17.00 1.00 X X 0 26125 15147 LARRY CLARK SECOND VICE PRESIDENT 17.00 1.00 X X 0 16850 0 MARK HANEY IMMEDIATE PAST PRESIDENT 19.00 1.00 X X 0 143515 21552 RICKY LEE ARNETT DIRECTOR 2.00 0.00 X 0 3950 0 SCOTT BARNES DIRECTOR 1.50 0.50 X 0 18447 0 ALEX BARNETT DIRECTOR 1.50 0.50 X 0 6550 5852 BETTIE BEAN DIRECTOR (FROM 12/23) 2.00 0.00 X 0 0 0 ANTHONY BROCK DIRECTOR 1.50 0.50 X 0 22247 0 MARY JANE CANNON DIRECTOR (THRU 12/23) 2.00 0.00 X 0 20047 0 MARSHALL COYLE DIRECTOR (THRU 12/23) 1.50 0.50 X 0 5150 8141 NANCY COX DIRECTOR 2.00 0.00 X 0 0 0 BRANDON K DAVIS DIRECTOR 2.00 0.00 X 0 5350 0 J SCOTT DAVIS DIRECTOR 1.50 0.50 X 0 0 26520 ROGER FANNIN DIRECTOR (THRU 12/23) 2.00 0.00 X 0 3350 0 TYLER FERGUSON DIRECTOR 1.50 0.50 X 0 22597 0 SHARON FURCHES DIRECTOR 17.00 1.00 X 0 100015 0 TIM GOODLETT DIRECTOR 1.50 0.50 X 0 26847 0 SARAH BETH GUFFEY DIRECTOR (THRU 12/23) 2.00 0.00 X 0 19697 0 CLOYCE WARREN HINKLE DIRECTOR 1.50 0.50 X 0 5050 6926 GLENN HOWELL DIRECTOR 1.50 0.50 X 0 11750 0 STEWART HUGHES DIRECTOR 1.50 0.50 X 0 21447 0 ZACK ISON DIRECTOR 1.50 0.50 X 0 20447 0 MARK KINSEY DIRECTOR 1.50 0.50 X 0 8550 0 MARY KATE KORDES DIRECTOR 1.50 0.50 X 0 21247 0 TERRY LAWSON DIRECTOR 1.50 0.50 X 0 8950 0 MITCHEL LOGSDON DIRECTOR 1.50 0.50 X 0 28447 0 RAY ALLAN MACKEY DIRECTOR 1.50 0.50 X 0 21447 0 ELI MANN DIRECTOR (THRU 12/23) 2.00 0.00 X 0 19497 0 JOE PAUL MATTINGLY DIRECTOR 1.50 0.50 X 0 0 28016 ROB MCCLANAHAN DIRECTOR (FROM 12/23) 2.00 0.00 X 0 0 0 DAVID MCGLONE DIRECTOR 1.50 0.50 X 0 7750 0 PJ MILBURN DIRECTOR 1.50 0.50 X 0 18447 0 VICTOR REXROAT DIRECTOR 1.50 0.50 X 0 24647 0 JAMES RUNION DIRECTOR (FROM 12/23) 2.00 0.00 X 0 600 0 DAVID TAYLOR DIRECTOR (FROM 12/23) 1.50 0.50 X 0 600 0 LARRY THOMAS DIRECTOR 1.50 0.50 X 0 0 29325 TAMMY WHITE DIRECTOR 1.50 0.50 X 0 16547 0 MACKENZIE WRIGHT DIRECTOR (FROM 12/23) 2.00 0.00 X 0 0 0 DREW GRAHAM EXECUTIVE VICE PRESIDENT 37.50 1.00 X 501337 0 40049 BRIAN T BRIGHT DIVISION DIRECTOR 38.50 0.00 X 158596 0 39346 PHILIP R DOWDLE DIVISION DIRECTOR 38.50 0.00 X 157020 0 36303 MATTHEW W INGRAM DIVISION DIRECTOR 38.50 0.00 X 262908 0 27075 D MARK LYLE AREA PROGRAM DIRECTOR 38.50 0.00 X 136525 0 25216 RACHEL M THOMAS EXECUTIVE ASSISTANT 38.50 0.00 X 134822 0 24906 1351208 801140 364813 16 0 1 0 KENTUCKY FARM BUREAU MGMT CORP 9201 BUNSEN PARKWAY PO BOX 20700 LOUISVILLE KY 402500700 MANAGEMENT SERVICES 892582 EUCLID TECHNOLOGY SOLUTIONS LLC 540 DEVALL DRIVE SUITE 301 AUBURN AL 36832 DATA PROCESSING 138101 ARTISAN LANDSCAPE MANAGEMENT 2213 MARKHAM COURT LEXINGTON KY 40504 LANDSCAPING 112234 TML CONSULTING LLC 8906 WILLOW SPRINGS DRIVE LOUISVILLE KY 40242 CONSULTING SERVICES 102438 4 MEMBERSHIP DUES - STATE 900099 2671451 2671451 MEMBERSHIP DUES - AFBF 900099 2428535 2428535 MEMBER PROGRAM REVENUE 900099 1251940 1251940 CONTRACT SERVICES 541610 942922 942922 MEMBERSHIP AND BILLING SERVICES 561000 544566 544566 577540 17952 238047 321541 8416954 2116307 7000 2109307 2549504 2549504 2736000 0 2736000 2736000 2730000 6000 243146 177379 65767 65767 65767 8988 0 8988 8988 SOLICITATION & PROMOTION 561000 8460 8460 SUNDRY INCOME 900099 5539 5539 13999 15907519 4008880 1746995 10151644 3925 158741 541386 4175256 515922 750882 288443 892582 163356 63708 210149 204461 120965 379952 741728 2827510 471706 106349 MEMBERSHIP AND BILLING 561354 BOARD EXPENSES 551205 COUNTY INCENTIVE PROGRA 345543 TAXES AND LICENSES 215022 18128 14308273 309780 260422 2693616 5373646 655230 608255 281674 225522 24526370 15976682 8963696 8549688 12166760 13437424 3541889 2235114 28612645 30690071 1539502 1676447 125000 125000 8677812 10479434 10342314 12280881 X 18270331 18409190 18270331 18409190 28612645 30690071 X 1599246 1230667 -2691054 X X 0 1 X 1 0 1 0 0 1153262 1153262 18281743 12772852 5508891 2259874 1723946 535928 2831491 1479884 1351607 8549688 1760915 C ACCUMULATED PENSION BENEFIT CONTRIBUTION 474199 C 2235114 DEFERRED AMOUNTS DUE KFB MGMT CORP 2550936 DIRECTOR POST-RETIREMENT BENEFIT OBLIGATION 955434 EMPLOYEE POST-RETIREMENT BENEFIT OBLIGATION 6973064 10479434 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 CONSOLIDATED 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 CONSOLIDATED FINANCIAL STATEMENTS. X X 0 0 X X 0 0 0 DREW GRAHAM EXECUTIVE VICE PRESIDENT 362240 0 127020 0 12077 0 24974 0 15075 0 541386 0 0 0 MATTHEW W INGRAM DIVISION DIRECTOR 198969 0 56031 0 7908 0 3873 0 23202 0 289983 0 0 0 BRIAN T BRIGHT DIVISION DIRECTOR 118666 0 32125 0 7805 0 16334 0 23012 0 197942 0 0 0 PHILIP R DOWDLE DIVISION DIRECTOR 114991 0 29976 0 12053 0 13101 0 23202 0 193323 0 0 0 MARK HANEY IMMEDIATE PAST PRESIDENT 0 143515 0 0 0 0 0 21552 0 0 0 165067 0 0 D MARK LYLE AREA PROGRAM DIRECTOR 117351 0 12132 0 7042 0 2014 0 23202 0 161741 0 0 0 RACHEL M THOMAS EXECUTIVE ASSISTANT 111929 0 21210 0 1683 0 2033 0 22873 0 159728 0 0 0 EDDIE MELTON PRESIDENT 0 124980 0 0 0 0 0 30439 0 0 0 155419 0 0 PART I, LINE 1A ENTIRE BOARD, PLUS DIVISION DIRECTORS TRAVELED FOR THE BOARD EDUCATION TOUR TO THE NORTHEASTERN USA. COMMERCIAL FLIGHTS TO THE SELECTED LOCATION WERE TOO ONEROUS. PART I, LINE 1B FOR EACH BOARD EDUCATIONAL TOUR, AN AD-HOC EXPENSE ANALYSIS IS COMPLETED. 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 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. 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 -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. 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 717140 2755971 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 2545051 2047534 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 892582 2821612 1.00000 1 1 1 0 1 0 1 0 0 0 1 0 1 0 1 1 0 1 0 0 KFB INVESTMENT CORPORATION F 1500414 BOOK VALUE KFB MANAGEMENT CORPORATION M 892582 BOOK VALUE KFB DEVELOPMENT CORPORATION J 450000 BOOK VALUE KFB DEVELOPMENT CORPORATION A 20250 BOOK VALUE KFB INVESTMENT CORPORATION A 6000 BOOK VALUE KFB DEVELOPMENT CORPORATION A 7000 BOOK VALUE KFB INVESTMENT CORPORATION A 3000 BOOK VALUE KFB DEVELOPMENT CORPORATION A 3000 BOOK VALUE