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← MINNESOTA FOUNDATION FOR AGRICULTURE

Form 990 for tax year 2024

Filed by MINNESOTA FOUNDATION FOR AGRICULTURE.

Totals

Total revenue
$235,101
Total expenses
$173,956
Contributions and grants received
$215,997
Grants paid
$110,574
Program service revenue
$0
Investment income
$24,340
Other revenue
-$5,236
Total assets, end of year
$605,981
Total liabilities, end of year
$7,307
Net assets or fund balances, end of year
$598,674
Program services expenses (Part IX)
$125,321
Management and general expenses
$46,157
Fundraising expenses
$2,478
Program service expenses (Part III)
$125,321

Program services were 72.0% 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

    $75,478

  • 1f · All other contributions, gifts and grants

    $140,519

  • 3 · Investment income

    total $16,411 · excluded $16,411

  • 7a · Gross sales of assets other than inventory

    securities $102,605

  • 7b · Less cost or other basis and sales expenses

    securities $94,676

  • 7c · Gain or loss

    securities $7,929

  • 7d · Net gain or loss

    total $7,929 · excluded $7,929

  • 8a · Fundraising events: gross income

    $98,051

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

    $75,478

  • 8b · Fundraising events: direct expenses

    $103,287

  • 8c · Net income from fundraising events

    total -$5,236 · excluded -$5,236

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $107,574 · program services $107,574

  • 2 · Grants to domestic individuals

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

  • 9 · Other employee benefits

    total $16,088 · program services $13,217 · management and general $393 · fundraising $2,478

  • 11c · Fees: accounting

    total $17,000 · management and general $17,000

  • 11f · Fees: investment management

    total $3,261 · management and general $3,261

  • 12 · Advertising and promotion

    total $3,000 · management and general $3,000

  • 13 · Office expenses

    total $11,301 · management and general $11,301

  • 17 · Travel

    total $433 · management and general $433

  • 22 · Depreciation, depletion and amortization

    total $3,107 · management and general $3,107

  • 23 · Insurance

    total $1,066 · management and general $1,066

  • 24a · Other expenses: Miscellaneous

    total $8,126 · program services $1,530 · management and general $6,596

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,581 · end of year $43,647

  • 3 · Pledges and grants receivable

    beginning of year $15,570 · end of year $12,435

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,000 · end of year $3,000

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

    $17,105

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

    $5,895

  • 10c · Land, buildings and equipment, net

    beginning of year $14,317 · end of year $11,210

  • 11 · Investments: publicly traded securities

    beginning of year $501,828 · end of year $535,689

  • 17 · Accounts payable and accrued expenses

    beginning of year $33,050 · end of year $7,307

  • 27 · Net assets without donor restrictions

    beginning of year $427,596 · end of year $533,521

  • 28 · Net assets with donor restrictions

    beginning of year $97,650 · end of year $65,153

Mission and programs · 2024

Mission

The Foundation's primary mission is all its charitable and educational activities to promote the improvement of agriculture through the support of education, encourage and fund research, scholarships for persons studying in agriculture or related field, and other agricultural activity. To make contributions to organizations which qualify as exempt charitable, educational, or scientific organizations under section 501(c)(3) of the internal revenue code.

Activities or mission (Part I)

Promote agriculture through the support of education, leadership, research, and promotion.

  • Promote and educate the public, community, and individuals regarding agricultural issues (past, present, and future).

    Expenses $53,594 · Grants $38,847

  • The opioid awareness project was created by the Minnesota Foundation For Agriculture to engage our members in the opioid crisis in our rural communities. It is our goal to reduce the stigma attached to addiction so that others may share their stories in an effort to help others and to teach farm and ranch families how to properly dispose of unused prescription medicines.

  • Support of 4-H, FFA, MARL, Ag in the classroom, youth livestock exhibitions, farm camp and a variety of other programs.

    Expenses $71,727 · Grants $71,727

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Dan Glessing

    President

    Total calculated
    $110,517
    From this org
    $0
    From related orgs
    $82,658
    Other
    $27,859
    Hours/week
    10 + 20 related

  • Carolyn Olson

    Vice President

    Total calculated
    $27,161
    From this org
    $0
    From related orgs
    $16,294
    Other
    $10,867
    Hours/week
    1 + 2 related

  • Caitlin Keck

    Director

    Total calculated
    $0
    Hours/week
    1

  • Cynthia Durhiem

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joel Mathiowetz

    Director

    Total calculated
    $0
    Hours/week
    1

  • Kent Thiesse

    Director

    Total calculated
    $0
    Hours/week
    1

  • Fran Miron

    Director

    Total calculated
    $6,150
    From this org
    $0
    From related orgs
    $6,150
    Other
    $0
    Hours/week
    1 + 2 related

  • Michelle Benson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Pam Uhlenkamp

    Director

    Total calculated
    $0
    Hours/week
    1

  • Karin Schaefer

    Executive Director

    Total calculated
    $191,715
    From this org
    $0
    From related orgs
    $161,184
    Other
    $30,531
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $161,184 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $18,847 related
    Nontaxable benefits
    $0 + $11,684 related
    Filer's total
    $0 + $191,715 related

  • Dave Johnson

    Treasurer

    Total calculated
    $188,759
    From this org
    $0
    From related orgs
    $156,225
    Other
    $32,534
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $156,225 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $17,850 related
    Nontaxable benefits
    $0 + $14,684 related
    Filer's total
    $0 + $188,759 related

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

None.

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 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 included approval by the Board or compensation committee.

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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
20 July 2026
IRS schema version
2024v5.5
Source object
202632029349301038

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