After a careful review of the financial needs of Indiana Farm Bureau, the INFB board of directors has approved changes in membership dues starting in February.
This will be the organization’s first dues increase in 17 years. The last change in dues was made in 2007 with an increase from $27.50 to $32.50. INFB has a long history of keeping dues at a level that provides significant value to members with a variety of services and programs.
The board reviewed all financial information, recommendations from the Financial Resources Committee and the projected income and expenses at the state and county levels. They also took into consideration that the American Farm Bureau Federation increased its dues by $1 per member just before the pandemic began, which decreased the revenue to INFB.
To address the future financial needs of INFB and ensure that it can continue to fund important programs at all levels of the organization, the INFB board approved an increase in primary dues for voting and associate members from the current level of $32.50 to $36 per year. This increase in dues will help address recent inflationary costs for programming as well as enhancements to programs designed to help meet the strategic goals of the organization.
Dues will increase for select and student members from the current level of $15 to $20 annually. This increase will help address more of the costs associated with these memberships.
These changes in membership dues be reflected in billings starting in late February and early March of 2024.
One of the strengths of Farm Bureau is having a county Farm Bureau in each of the 92 Indiana counties. To ensure the continued viability of all county Farm Bureaus, INFB is creating a Program Development Grant to specifically target counties with 1,500 members or less. Grants can be used for programming and can include general operating expenses for a county Farm Bureau that demonstrates a financial and programming need.
INFB also will adjust the amount of dues shared with county Farm Bureaus to provide additional assistance to the smallest counties.
“We believe making these changes in 2024 will keep our organization in a strong financial position at the county and state levels for the next few years,” said Mark Sigler, INFB chief operating officer and treasurer. “However, based on the current level of inflation and economic volatility, we will continue to monitor the financial performance of the organization and be proactive in making additional changes if they are needed. We have been fortunate to have a gain in membership in each of the past 8 years. Currently, there are more than 270,000 Farm Bureau members in Indiana. We hope to continue adding members, which will help add to our financial strength and organizational clout.”