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Nonprofiteer
← TAYLOR FAMILY FARMS FOUNDATION INC

Form 990 for tax year 2024

Filed by TAYLOR FAMILY FARMS FOUNDATION INC.

Totals

Total revenue
$2,941,119
Total expenses
$1,728,507
Contributions and grants received
$0
Grants paid
$1,723,583
Program service revenue
$0
Investment income
$74,787
Other revenue
$2,866,332
Total assets, end of year
$174,012,612
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$174,012,612
Program services expenses (Part IX)
$1,724,034
Management and general expenses
$4,473
Fundraising expenses
$0
Program service expenses (Part III)
$1,724,034

Program services were 99.7% 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.

  • 3 · Investment income

    total $74,787 · excluded $74,787

  • 6a · Gross rents

    real property $3,452,009

  • 6b · Less rental expenses

    real property $585,677

  • 6c · Rental income or loss

    real property $2,866,332

  • 6d · Net rental income or loss

    total $2,866,332 · excluded $2,866,332

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,723,583 · program services $1,723,583

  • 11b · Fees: legal

    total $4,473 · management and general $4,473

  • 24a · Other expenses: Other Business Expenses

    total $196 · program services $196

  • 24e · All other expenses

    total $255 · program services $255

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    end of year $1,212,612

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

    $172,800,000

  • 10c · Land, buildings and equipment, net

    beginning of year $172,800,000 · end of year $172,800,000

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $172,800,000 · end of year $174,012,612

Mission and programs · 2024

Mission

Taylor Family Farms Foundation supports and enhances rural communities in southern Minnesota and northern Iowa. Through innovative and empowering collaboration with knowledgeable and trusted philanthropic partners, Taylor Family Farms Foundation works to build resilient rural communities.

Activities or mission (Part I)

To support and enhance rural communities in Southern Minnesota and Northern Iowa.

  • Taylor Family Farms Foundation provides support and enhances rural communities in southern Minnesota and northern Iowa. For the specific counties the Foundation serves, please visit www.taylorfff.org. The Foundation held its first grant round in 2024, granting to 37 organizations who were in need of funds for emergency response equipment.

    Expenses $1,724,034 · Grants $1,723,583

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

Listed in Part VII

  • Kristin Duncanson

    Chairperson & President

    Total calculated
    $0
    Hours/week
    2 + 1 related

  • Jeremy Wells

    Vice President

    Total calculated
    $339,638
    From this org
    $0
    From related orgs
    $286,370
    Other
    $53,268
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $286,370 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $30,131 related
    Nontaxable benefits
    $0 + $23,137 related
    Filer's total
    $0 + $339,638 related

  • Tim Penny

    Treasurer

    Total calculated
    $215,584
    From this org
    $0
    From related orgs
    $173,891
    Other
    $41,693
    Hours/week
    2 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $173,891 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $8,695 related
    Nontaxable benefits
    $0 + $32,998 related
    Filer's total
    $0 + $215,584 related

  • Chris Austin

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • James Mulvilhill

    Director

    Total calculated
    $0
    Hours/week
    2

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)

Schedule J, Part II:
The individuals reported on Schedule J, Part II receive compensation from a related organization. There is no compensation paid by the Foundation for services provided by these individuals.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
25 March 2025
IRS schema version
2024v5.1
Source object
202500849349301485

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