MICHIGAN FARM BUREAU (EIN 381718391) - 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

1919

Legal Domicile

Principal Officer

THOMAS L NUGENT

Phone

5173237000

Tax Period

2023-01-01 to 2023-12-31

MICHIGAN FARM BUREAU, founded in 1919, is a mid-sized nonprofit that reported $15.1M in total revenue in fiscal year 2023.

Mission

MICHIGAN FARM BUREAU (MFB) IS A MEMBER DIRECTED AGRICULTURAL ORGANIZATION WHOSE PURPOSE IS TO REPRESENT, PROTECT, AND ENHANCE THE BUSINESS, ECONOMIC, SOCIAL, AND EDUCATIONAL INTERESTS OF OUR MEMBERS LOCATED THROUGHOUT THE STATE OF MICHIGAN.

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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 (2023)

Revenue Breakdown

Contributions & Grants $14,250,236

Program Service Revenue $267,235

Investment Income $519,919

Other Revenue $13,411

TOTAL REVENUE $15,050,801

Expense Breakdown

Grants Paid $45,263

Salaries & Benefits $7,692,476

Fundraising Expenses $0

Other Expenses $7,029,626

TOTAL EXPENSES $14,767,365

Year-over-Year Comparison

	2023	2022	Change
Revenue	$15,050,801	$15,100,044	0.0%
Expenses	$14,767,365	$14,066,836	+0.0%
Net Income	$283,436	$1,033,208	-0.7%

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

138

Volunteers

1179

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

$1,807,312

Total Directors

$884,347

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CARL BEDNARSKI	PRESIDENT	29.06	Officer Director	$333,721	$41,250	$389,971
BRIGETTE LEACH	DIRECTOR - PART YEAR	8.63	Director	$25,583	$0	$43,583
JENNIFER LEWIS	DIRECTOR	9.02	Director	$24,736	$0	$43,736
TRAVIS FAHLEY	DIRECTOR	3.33	Director	$3,336	$0	$22,336
MICHAEL DERUITER	VICE PRESIDENT	9.48	Director	$19,386	$0	$38,386
DAVID BAHRMAN	DIRECTOR	7.06	Director	$12,486	$0	$31,486
DOUGLAS DARLING	DIRECTOR - PART YEAR	4.33	Director	$8,383	$0	$26,383
MICHAEL FUSILIER	DIRECTOR	9.60	Director	$18,286	$0	$39,686
MICHAEL MULDERS	DIRECTOR	2.54	Director	$3,936	$0	$22,936
PATRICK MCGUIRE	DIRECTOR	6.48	Director	$11,486	$0	$29,486
BEN LACROSS	DIRECTOR	10.21	Director	$14,536	$0	$33,536
STEPHANIE SCHAFER	DIRECTOR	7.69	Director	$12,236	$0	$31,236
JESS ERLER	DIRECTOR P&E CHAIR	6.12	Director	$10,186	$0	$10,186
LANE GRIESER	DIRECTOR YF CHAIR - PART YEAR	5.00	Director	$8,383	$0	$8,383
JEFF SANDBORN	DIRECTOR	9.00	Director	$20,986	$0	$39,986
LEONA DANIELS	DIRECTOR	9.31	Director	$16,286	$0	$35,286
PAUL PRIDGEON	DIRECTOR	7.73	Director	$13,886	$0	$32,886
ABE PASCH	DIRECTOR	0.38	Director	$953	$0	$1,953
ABBY VITTORE	DIRECTOR YF CHAIR	0.38	Director	$953	$0	$953
LARRY WALTON	DIRECTOR	0.38	Director	$953	$0	$1,953
ANDREW J KOK	SECRETARY/GENERAL COUNSEL	14.07	Officer	$458,114	$53,525	$511,639
DAVID D BAKER	TREASURER - PART YEAR	6.40	Officer	$144,246	$8,762	$153,008
TOM NUGENT	TREASURER, CFO & HUMAN RES. DIR.	8.10	Officer	$308,314	$50,641	$358,955
SCOTT PIGGOTT	CHIEF EXECUTIVE OFFICER	20.80	Officer	$336,573	$57,166	$393,739
DEBRA SCHMUCKER	HUMAN RESOURCE DIRECTOR	40.00	Highest	$166,620	$39,611	$206,231
STEVEN HUMMER	DIRECTOR OF INTERNAL AUDIT	0.90	Highest	$237,241	$48,248	$285,489
PAULA DROSTE	DIRECTOR OF FINANCIAL SERVICES	19.08	Highest	$197,288	$39,742	$237,030
SARAH BLACK	DIRECTOR OF BUSINESS OPERATIONS	40.00	Highest	$200,868	$45,074	$245,942
MATT SMEGO	DIRECTOR OF PUBLIC POLICY	40.00	Highest	$186,444	$43,168	$229,612

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	No data	No data	No data	No data
2023	$15,050,801	$14,767,365	$22,475,090	$283,436
2022	$15,100,044	$14,066,836	$22,177,840	$1,033,208
2021	$13,489,298	$12,903,705	$21,991,749	$585,593
2020	$15,112,463	$13,899,183	$22,478,818	$1,213,280
2019	$14,499,962	$13,228,262	$22,698,162	$1,271,700
2018	$11,979,331	$12,064,431	$12,196,936	$-85,100

MICHIGAN FARM BUREAU