EDGECOMBE COUNTY FARM BUREAU INC (EIN 560649066) - 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

1953

Legal Domicile

Principal Officer

JOSEPH SHANE VARNELL

Phone

2528238101

Tax Period

2024-01-01 to 2024-12-31

EDGECOMBE COUNTY FARM BUREAU INC, founded in 1953, is a small nonprofit that reported $130K in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Expenses of $122K left a modest 6% surplus.

Mission

PRIVATE, NON-PROFIT ORGANIZATION CREATED TO DEVELOP, FOSTER, PROMOTE AND PROTECT PROGRAMS FOR THE WELFARE OF FARM PEOPLE, INCLUDING THEIR ECONOMIC, SOCIAL AND EDUCATIONAL WELL-BEING.

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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 $89,076

Program Service Revenue $0

Investment Income $15,957

Other Revenue $25,411

TOTAL REVENUE $130,444

Expense Breakdown

Grants Paid $29,070

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $93,055

TOTAL EXPENSES $122,125

Year-over-Year Comparison

	2024	2023	Change
Revenue	$130,444	$142,980	-0.1%
Expenses	$122,125	$210,818	-0.4%
Net Income	$8,319	$-67,838	-1.1%

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

212

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH SHANE VARNELL	PRESIDENT	0.25	Officer Director	$0	$0	$0
BEN SHELTON	MEMBER BOD	0.25	Director	$0	$0	$0
JESSE LANCASTER	MEMBER BOD	0.25	Director	$0	$0	$0
BERT PITT JR	MEMBER BOD	0.25	Director	$0	$0	$0
GWEN PITT	MEMBER BOD	0.25	Director	$0	$0	$0
SILAS SMITH	MEMBER BOD	0.25	Director	$0	$0	$0
SEBA ALLEN	MEMBER BOD	0.25	Director	$0	$0	$0
JOHN GRIMES III	VICE-PRESIDE	0.25	Officer Director	$0	$0	$0
VIRGIL KIRKLAND JR	SECRETARY	0.25	Officer Director	$0	$0	$0
BRANDON HARRELL	MEMBER BOD	0.25	Director	$0	$0	$0
PHILIP BULLOCK	MEMBER BOD	0.25	Director	$0	$0	$0
THOMAS PORTER	MEMBER BOD	0.25	Director	$0	$0	$0
JOHN GRIMES JR	MEMBER BOD	0.25	Director	$0	$0	$0

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	$130,444	$122,125	$505,766	$8,319
2023	$142,980	$210,818	$496,513	$-67,838
2022	$112,134	$113,767	$530,485	$-1,633
2021	$116,873	$116,244	$546,994	$629
2020	$124,861	$107,515	$546,365	$17,346
2019	$112,272	$112,392	$529,019	$-120
2018	$114,369	$132,400	$529,139	$-18,031

EDGECOMBE COUNTY FARM BUREAU INC