Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $41,350

• 1f · All other contributions, gifts and grants

  $148,228

• 3 · Investment income

  total $15,159 · excluded $15,159

• 8a · Fundraising events: gross income

  $102,060

• 8a · Fundraising events: contributions included on line 1c

  $41,350

• 8b · Fundraising events: direct expenses

  $92,147

• 8c · Net income from fundraising events

  total $9,913 · excluded $9,913

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $155,346 · program services $155,346

• 2 · Grants to domestic individuals

  total $3,000 · program services $3,000

• 11a · Fees: management

  total $121,857 · program services $96,607 · management and general $12,625 · fundraising $12,625

• 11c · Fees: accounting

  total $14,000 · management and general $14,000

• 12 · Advertising and promotion

  total $3,418 · program services $3,418

• 13 · Office expenses

  total $3,366 · management and general $3,366

• 17 · Travel

  total $4,390 · program services $4,390

• 22 · Depreciation, depletion and amortization

  total $262 · management and general $262

• 23 · Insurance

  total $1,035 · management and general $1,035

• 24a · Other expenses: Miscellaneous

  total $17,563 · program services $13,329 · management and general $4,234

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $26,641 · end of year $30,639

• 3 · Pledges and grants receivable

  end of year $15,019

• 4 · Accounts receivable

  beginning of year $127,742

• 10a · Land, buildings and equipment: cost or other basis

  $5,500

• 10b · Land, buildings and equipment: accumulated depreciation

  $262

• 10c · Land, buildings and equipment, net

  beginning of year $0 · end of year $5,238

• 11 · Investments: publicly traded securities

  beginning of year $384,614 · end of year $427,138

• 17 · Accounts payable and accrued expenses

  beginning of year $8,222 · end of year $29,480

• 27 · Net assets without donor restrictions

  beginning of year $293,394 · end of year $295,293

• 28 · Net assets with donor restrictions

  beginning of year $237,381 · end of year $153,261

The filer's explanations (Part III)

Part 1, Line 3

The Foundation's directors and officers are paid by Minnesota Farm Bureau Federation, a related organization. Compensation for the officers and directors is determined and approved by the Federation in accordance with its policies, which include approval by the board or compensation committee.