AGRICULTURAL DEVELOPMENT FUND

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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

1982

Legal Domicile

Principal Officer

MATTHEW R CARTER

Phone

8178772400

Tax Period

2024-04-01 to 2025-03-31

AGRICULTURAL DEVELOPMENT FUND, founded in 1982, is a small nonprofit that reported $437K in total revenue in fiscal year 2024. Revenue fell 27% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $181K, a strong 41% operating margin.

Mission

TO PROMOTE THE BREEDING OF BETTER LIVESTOCK BY EXHIBITION AND AUCTION IN CONNECTION WITH THE SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW.

Program Service Accomplishments

Program 1

Expenses: $248,286

THE FUND WAS SET UP TO PAY PREMIUMS AND BONUSES TO OWNERS OF LIVESTOCK THAT SHOW IN THE SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW. PREMIUMS ARE ADDITIONAL MONEY PAID ON PLACINGS IN THE JUNIOR...

THE FUND WAS SET UP TO PAY PREMIUMS AND BONUSES TO OWNERS OF LIVESTOCK THAT SHOW IN THE SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW. PREMIUMS ARE ADDITIONAL MONEY PAID ON PLACINGS IN THE JUNIOR LIVESTOCK SHOWS. THE BONUS MONEY IS PAID ON A PREDETERMINED PRICE PER POUND OVER MARKET PRICE FOR ANIMALS SOLD AT THE SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW. ADDITIONALLY, THE FUND PROVIDES GRANTS FOR SCHOLARSHIPS PAID TO TEXAS 4-H AND FFA STUDENTS.

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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 $389,890

Program Service Revenue $0

Investment Income $47,278

Other Revenue $0

TOTAL REVENUE $437,168

Expense Breakdown

Grants Paid $35,000

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $248,286

Other Expenses $220,850

TOTAL EXPENSES $255,850

Year-over-Year Comparison

	2024	2023	Change
Revenue	$437,168	$595,328	-0.3%
Expenses	$255,850	$239,459	+0.1%
Net Income	$181,318	$355,869	-0.5%

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

$729,850

Total Directors

$1,442,104

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BRADFORD S BARNES	DIRECTOR	0.50	Director	$0	$33,272	$712,254
MATTHEW R CARTER	PRESIDENT/DIRECTOR	1.00	Officer Director	$0	$22,746	$448,055
KIMBERLY DEWOODY	SECRETARY/TREASURER/DIRECT	0.50	Officer Director	$0	$15,378	$280,645
CHARLIE ROYER III	VICE PRESIDENT/DIRECTOR	0.20	Officer Director	$0	$0	$1,150
BRECK RAY	DIRECTOR	0.10	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
2025	$437,168	$255,850	$1,550,023	$181,318
2024	$595,328	$239,459	$1,368,705	$355,869
2023	$301,574	$288,738	$1,012,836	$12,836
2022	$6,712,594	$6,723,807	$1,257,000	$-11,213
2021	$71,313	$15,839	$1,011,213	$55,474
2020	$5,298,585	$5,316,149	$1,191,312	$-17,564
2019	$4,545,735	$4,535,587	$1,273,440	$10,148