MICHIGAN FOUNDATION FOR AGRICULTURE (EIN 270200380) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2009

Legal Domicile

Principal Officer

THOMAS L NUGENT

Phone

5173237000

Tax Period

2024-01-01 to 2024-12-31

MICHIGAN FOUNDATION FOR AGRICULTURE, founded in 2009, is a community nonprofit in the Food, Agriculture & Nutrition sector that reported $7.5M in total revenue in fiscal year 2024.

Mission

RECEIVE AND ADMINISTER FUNDS TO SUPPORT THE EDUCATIONAL AND CHARITABLE ACTIVITIES OF MICHIGAN FARM BUREAU.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $7,489,900

Program Service Revenue $0

Investment Income $55,788

Other Revenue $3,911

TOTAL REVENUE $7,549,599

Expense Breakdown

Grants Paid $7,070,766

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $7,185,973

Other Expenses $328,924

TOTAL EXPENSES $7,399,690

Year-over-Year Comparison

	2024	2023	Change
Revenue	$7,549,599	$7,217,364	+0.0%
Expenses	$7,399,690	$7,329,574	+0.0%
Net Income	$149,909	$-112,210	-2.3%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✓ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$1,879,369

Total Directors

$883,729

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL BEDNARSKI	PRESIDENT	0.19	Officer Director	$0	$43,080	$412,894
MICHAEL FUSILIER	DIRECTOR	0.19	Director	$0	$0	$40,136
MICHAEL DERUITER	VICE PRESIDENT	0.19	Director	$0	$0	$36,686
LEONA DANIELS	DIRECTOR	0.00	Director	$0	$0	$35,636
STEPHANIE SCHAFER	DIRECTOR	0.19	Director	$0	$0	$36,736
BEN LACROSS	DIRECTOR	0.19	Director	$0	$0	$35,286
DAVID BAHRMAN	DIRECTOR	0.19	Director	$0	$0	$27,886
JENNIFER LEWIS	DIRECTOR	0.19	Director	$0	$0	$34,336
PAUL PRIDGEON	DIRECTOR	0.19	Director	$0	$0	$34,786
PATRICK MCGUIRE	DIRECTOR	0.19	Director	$0	$0	$40,136
JEFF SANDBORN	DIRECTOR	0.19	Director	$0	$0	$25,286
TRAVIS FAHLEY	DIRECTOR - PART YEAR	0.19	Director	$0	$0	$19,986
MICHAEL MULDERS	DIRECTOR	0.19	Director	$0	$0	$37,036
JESS ERLER	DIRECTOR P&E CHAIR - PART YEAR	0.19	Director	$0	$0	$3,986
ABE PASCH	DIRECTOR	0.00	Director	$0	$0	$30,986
ABBY VITTORE	DIRECTOR YF CHAIR - PART YEAR	0.19	Director	$0	$0	$9,136
LARRY WALTON	DIRECTOR	0.00	Director	$0	$0	$22,636
RILEY BRAZO	DIRECTOR YF CHAIR	0.00	Director	$0	$0	$53
ALYSA SANFORD	DIRECTOR P&E CHAIR	0.00	Director	$0	$0	$53
MIKE NOLL	DIRECTOR	0.00	Director	$0	$0	$53
ANDREW J KOK	SECR AND GEN COUNSEL	2.19	Officer	$0	$56,022	$538,397
TOM NUGENT	TREASURER, CFO & HUMAN RES. DIR.	1.00	Officer	$0	$62,693	$443,016
MICHELLE REYNAERT	CHIEF OPERATING OFFICER	1.20	Officer	$0	$1,165	$113,946
SCOTT PIGGOTT	CHIEF EXECUTIVE OFFICER-END 1/4/24	0.00	Officer	$0	$47,952	$371,116

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$7,549,599	$7,399,690	$742,834	$149,909
2023	$7,217,364	$7,329,574	$584,148	$-112,210
2022	$7,141,621	$6,955,802	$1,142,847	$185,819
2021	$4,183,313	$5,220,476	$454,773	$-1,037,163
2020	$3,252,858	$3,214,849	$2,985,999	$38,009
2019	$1,977,779	$2,203,649	$1,562,205	$-225,870
2018	$1,452,928	$1,722,008	$1,905,142	$-269,080

MICHIGAN FOUNDATION FOR AGRICULTURE