IFA Accounts to March 31st, 2024 Approved by National Council

The Irish Farmers’ Association recorded an operational deficit of €895,213 (before tax) to the year end March 31^st, 2024.

The Annual Accounts were approved at a meeting of the National Council today.

The final element that determined the overall result was the increase in the value of our investments during the year, which was €450,273, after deferred tax.

The overall loss for the year end was €429,601.

The consolidated assets of IFA as of March 31^st, 2024, were €17.3m, down from €17.7m on March 31^st, 2023.

The accounts can be viewed here.

2024 saw the cost of doing business continue to rise. Combined with lower commodity prices which impacted our levy income, this meant it was a challenging financial year for the Association.

An increase in membership subscriptions was agreed in December 2023 and implemented from March 1^st, 2024. This increase should ensure that the organisation will have an operating surplus to the year end March 2025.

IFA does not rely on Government funding for our activities. To represent farmers effectively, we have to be well-resourced by our own means. We also need strong reserves.

The IFA is an organisation for farmers, run by farmers. We need to ensure it remains strong and that we can operate without fear or favour.