Form 990 for tax year 2023
Filed by MINNESOTA STATE FAIR FOUNDATION.
Totals
- Total revenue
- $13,731,998
- Total expenses
- $3,129,131
- Contributions and grants received
- $12,884,267
- Grants paid
- $2,015,378
- Program service revenue
- $0
- Investment income
- $287,695
- Other revenue
- $560,036
- Total assets, end of year
- $17,749,748
- Total liabilities, end of year
- $133,135
- Net assets or fund balances, end of year
- $17,616,613
- Program services expenses (Part IX)
- $2,283,386
- Management and general expenses
- $361,007
- Fundraising expenses
- $484,738
- Program service expenses (Part III)
- $2,283,386
Program services were 73.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$172,635
-
1f · All other contributions, gifts and grants
$12,711,632
-
1g · Noncash contributions included above
$99,130
-
3 · Investment income
total $287,695 · excluded $287,695
-
8a · Fundraising events: gross income
$121,235
-
8a · Fundraising events: contributions included on line 1c
$172,635
-
8b · Fundraising events: direct expenses
$27,626
-
8c · Net income from fundraising events
total $93,609 · excluded $93,609
-
9a · Gaming: gross income
$78,810
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $78,810 · excluded $78,810
-
10a · Gross sales of inventory
$457,961
-
10b · Cost of goods sold
$125,221
-
10c · Net income from sales of inventory
total $332,740 · excluded $332,740
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $54,877 · excluded $54,877
-
11e · Other revenue, total
$54,877
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,015,378 · program services $2,015,378
-
5 · Compensation of officers, directors and key employees
total $147,063 · program services $48,531 · management and general $26,471 · fundraising $72,061
-
7 · Other salaries and wages
total $375,163 · program services $121,359 · management and general $69,159 · fundraising $184,645
-
8 · Pension plan contributions
total $41,134 · program services $14,409 · management and general $6,152 · fundraising $20,573
-
9 · Other employee benefits
total $81,663 · program services $29,236 · management and general $11,268 · fundraising $41,159
-
10 · Payroll taxes
total $48,794 · program services $17,078 · management and general $7,319 · fundraising $24,397
-
11c · Fees: accounting
total $54,179 · management and general $54,179
-
11g · Fees: other
total $1,607 · fundraising $1,607
-
13 · Office expenses
total $53,920 · program services $5,191 · management and general $22,729 · fundraising $26,000
-
17 · Travel
total $591 · management and general $313 · fundraising $278
-
19 · Conferences, conventions and meetings
total $305 · management and general $150 · fundraising $155
-
22 · Depreciation, depletion and amortization
total $103 · program services $36 · management and general $15 · fundraising $52
-
23 · Insurance
total $7,018 · management and general $4,686 · fundraising $2,332
-
24a · Other expenses: MATERIALS
total $101,567 · program services $2,718 · management and general $88,350 · fundraising $10,499
-
24b · Other expenses: SPECIAL EVENT EXPENSES
total $72,752 · fundraising $72,752
-
24c · Other expenses: BANK CHARGES
total $54,488 · management and general $54,488
-
24d · Other expenses: SALES TAXES
total $26,652 · program services $26,652
-
24e · All other expenses
total $46,754 · program services $2,798 · management and general $15,728 · fundraising $28,228
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $284,227 · end of year $267,691
-
2 · Savings and temporary cash investments
beginning of year $3,745,157 · end of year $14,121,670
-
3 · Pledges and grants receivable
beginning of year $195,882 · end of year $220,178
-
8 · Inventories for sale or use
beginning of year $3,744 · end of year $3,329
-
9 · Prepaid expenses and deferred charges
beginning of year $13,758 · end of year $14,120
-
10a · Land, buildings and equipment: cost or other basis
$6,813
-
10b · Land, buildings and equipment: accumulated depreciation
$6,540
-
10c · Land, buildings and equipment, net
beginning of year $376 · end of year $273
-
11 · Investments: publicly traded securities
beginning of year $2,317,719 · end of year $3,122,487
-
17 · Accounts payable and accrued expenses
beginning of year $130,064 · end of year $133,135
-
27 · Net assets without donor restrictions
beginning of year $3,003,367 · end of year $3,876,494
-
28 · Net assets with donor restrictions
beginning of year $3,427,432 · end of year $13,740,119
Mission and programs · 2023
Mission
THE MINNESOTA STATE FAIR FOUNDATION'S MISSION IS TO PRESERVE AND IMPROVE THE HISTORIC MINNESOTA STATE FAIRGROUNDS AND SUPPORT STATE FAIR PROGRAMS AND PROJECTS IN AGRICULTURE, ARTS & CULTURE, EDUCATION, THE ENVIRONMENT, AND HISTORY.
Activities or mission (Part I)
TO PRESERVE AND IMPROVE MN STATE FAIR BUILDINGS, FAIRGROUNDS, AND EDUCATIONAL PROGRAMS.
-
THE MINNESOTA STATE FAIR FOUNDATION GRANTS TO THE MINNESOTA STATE FAIR TO SUPPORT CAPITAL AND PROGRAM IMPROVEMENTS ALIGNED WITH THESE STATE FAIR PROGRAM AREAS: AGRICULTURAL EDUCATION, ARTS AND CULTURE, ENVIRONMENT, HISTORY AND HERITAGE, AND EDUCATION. THE FOUNDATION ALSO RETAINED ASSETS FOR FUTURE GRANTS, AND CONTINUED TO BUILD ENDOWMENT FUNDS.
Expenses $2,283,386 · Grants $2,015,378
As filed on the 2023 return.
Listed in Part VII
-
Litton FieldLITTON FIELD
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Cathy LawrenceCATHY LAWRENCE
VICE CHAIR, DEVELOPMENT CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Renee AlexanderRENEE ALEXANDER
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Eric BrittERIC BRITT
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Jason Koerth Past ChairJASON KOERTH PAST CHAIR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dale BachmanDALE BACHMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nicole BehneNICOLE BEHNE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Julie CravenJULIE CRAVEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Danny GrunhovdDANNY GRUNHOVD
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Doug HuebschDOUG HUEBSCH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pete JohnsonPETE JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ted JohnsonTED JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andrea AmesANDREA AMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Liz KramerLIZ KRAMER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Peggy LucasPEGGY LUCAS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Terri McEnaneyTERRI MCENANEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dave MonaDAVE MONA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Frank ParisiFRANK PARISI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John RemesJOHN REMES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brad RibarBRAD RIBAR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ken SandvikKEN SANDVIK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dan ShogrenDAN SHOGREN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
David SorensenDAVID SORENSEN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Frank SullivanFRANK SULLIVAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mike SullivanMIKE SULLIVAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Linda TankLINDA TANK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Darrell ThompsonDARRELL THOMPSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kayla Yang-BestKAYLA YANG-BEST
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mary ChungMARY CHUNG
EXECUTIVE DIRECTOR
- Total calculated
- $162,435
- From this org
- $0
- From related orgs
- $152,239
- Other
- $10,196
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $0 + $152,239 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $600 related
- Nontaxable benefits
- $0 + $9,596 related
- Filer's total
- $0 + $162,435 related
-
Shana ZaiserSHANA ZAISER
DEVELOPMENT DIRECTOR
- Total calculated
- $142,077
- From this org
- $109,666
- From related orgs
- $0
- Other
- $32,411
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Form 990 of other organizations
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE EXECUTIVE COMMITTEE OF OUR BOARD OF DIRECTORS IS RESPONSIBLE FOR REVIEWING THE EXECUTIVE DIRECTOR'S PERFORMANCE AND SETTING COMPENSATION IN CONJUNCTION WITH MINNESOTA STATE FAIR MANAGEMENT COMPENSATION RANGES, THE NONPROFIT SALARY SURVEY CONDUCTED BY THE MINNESOTA COUNCIL OF NONPROFITS, AND A REVIEW OF COMPENSATION FOR OTHER NONPROFIT ORGANIZATIONS' EXECUTIVES.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
MINNESOTA STATE AGRICULTURAL SOCIETY
$1,995,519
IMPROVEMENTS FOR THE MN STATE FAIR
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
MINNESOTA STATE AGRICULTURAL SOCIETY
PRODUCTION OF THE ANNUAL MINNESOTA STATE FAIR AND CARE OF FAIRGROUNDS · MN
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 3 February 2025
- IRS schema version
- 2023v6.0
- Source object
- 202500429349300815
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