Farm House Fraternity Inc
- Assets
- $65.9k
- Revenue
- $289.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 11/1977
- Data as of
- 06/2023
- EIN
- 41-0246548
Organization Overview
Farm House Fraternity Inc, operating under the name Minnesota Association, is located in Minneapolis, MN. The organization was established in 1977. According to its NTEE Classification (K28) the organization is classified as: Farm Bureaus & Granges, under the broad grouping of Food, Agriculture & Nutrition and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Minnesota Association is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2023, Minnesota Association generated $289.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.2%) each year. All expenses for the organization totaled $285.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (5.7%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING COLLEGIATE FRATERNITY HOUSING, ACTIVITES AND ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP CONSISTED OF 27 MALE UNDERGRADUATE STUDENTS ATTENDING THE UNIVERSITY OF MINNESOTA. HOUSING IS PROVIDED FOR UP TO 50 MEMBERS FROM AUGUST 2022 TO MAY 2023. MEMBER PREPARED MEALS ARE PROVIDED FOR ALL MEMBERS OF THE FRATERNITY. A PART TIME LIVE-IN HOUSE DIRECTOR IS EMPLOYED BY THE HOUSE ASSOCIATION FOR THE SOCIAL WELL BEING OF ALL FRATERNITY MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Moline President | Officer | 10 | $0 |
Orinn Just VP Recruitment | Officer | 10 | $0 |
Joseph Leibig VP Finance | Officer | 3 | $0 |
Carsen Wright Director Of Operations | Trustee | 3 | $0 |
Caidyn Johnson Director Of Philanthropy | Trustee | 2 | $0 |
Rob Mckee Director Of Brotherhood | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $765 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $765 |
| Total Program Service Revenue | $287,034 |
| Investment income | $377 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $289,531 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $240 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,873 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $635 |
| Office expenses | $774 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $217,632 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,410 |
| Interest | $186 |
| Payments to affiliates | $900 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $125 |
| All other expenses | $0 |
| Total functional expenses | $285,495 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,086 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $29,832 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $200 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $2,726 |
| Intangible assets | $0 |
| Other assets | $3,100 |
| Total assets | $65,944 |
| Accounts payable and accrued expenses | $39,641 |
| Grants payable | $0 |
| Deferred revenue | $17,447 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,500 |
| Total liabilities | $66,588 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$644 |
| Total liabilities and net assets/fund balances | $65,944 |