Minnesota Farm Bureau Federation
- Assets
- $5.8m
- Revenue
- $3.4m
- Investments
- $0.0
- Employees
- 18
- Location
- Eagan, MN
- Founding
- 05/1927
- Data as of
- 09/2023
- EIN
- 41-0417230
Organization Overview
Minnesota Farm Bureau Federation is located in Eagan, MN. The organization was established in 1927. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 09/2023, Minnesota Farm Bureau Federation employed 18 individuals. This organization is an itermediate organization (such as a geographic headquarters) for a national or regional group of organizations. Minnesota Farm Bureau Federation is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 09/2023, Minnesota Farm Bureau Federation generated $3.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $3.5m during the year ending 09/2023. While expenses have increased by 1.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
WE OPERATE FOR CHARITABLE AND EDUCATIONAL PURPOSES FOR THE WELL-BEING OF MINNESOTA AGRICULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FIELD SERVICE: PROVIDE 5 FIELD REPRESENTATIVES TO COUNTY ORGANIZATIONS THROUGHOUT MINNESOTA. FIELD REPRESENTATIVES HELP COUNTY ORGANIZATIONS IMPLEMENT FARM BUREAU PROGRAMS.
MEMBER SERVICES & COUNTY ACTIVITIES: PROVIDE BOOKKEEPING ASSISTANCE AND SUPPLIES TO COUNTY FARM BUREAU ORGANIZATIONS.
LEGISLATIVE, RESEARCH & EDUCATION: PROVIDE INFORMATION ON AGRICULTURAL ISSUES TO THOSE INVOLVED IN AG LEGISLATION. SPONSOR SEMINARS & MEETINGS TO UPDATE MEMBERS ON AG ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dan Glessing President | OfficerTrustee | 20 | $49,285 |
Carolyn Olson Vice-President | OfficerTrustee | 2 | $11,600 |
Jeff Pagel Director | Trustee | 2 | $0 |
Robert Roelofs Director | Trustee | 2 | $3,450 |
Peter Bakken Director | Trustee | 2 | $2,495 |
Nathan Collins Director | Trustee | 2 | $4,050 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $116,726 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $124,226 |
| Total Program Service Revenue | $1,533,851 |
| Investment income | $201,760 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,774,838 |
| Net Rental Income | $9,600 |
| Net Gain/Loss on Asset Sales | -$300,129 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,400,958 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $384,982 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $901,226 |
| Pension plan accruals and contributions | $98,927 |
| Other employee benefits | $241,593 |
| Payroll taxes | $100,696 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,750 |
| Fees for services: Accounting | $19,226 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,792 |
| Fees for services: Other | $0 |
| Advertising and promotion | $216,123 |
| Office expenses | $32,595 |
| Information technology | $79,551 |
| Royalties | $0 |
| Occupancy | $66,105 |
| Travel | $145,992 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $187,815 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,655 |
| Insurance | $32,768 |
| All other expenses | $190,542 |
| Total functional expenses | $3,454,572 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $198,883 |
| Savings and temporary cash investments | $25,536 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $231,936 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $15,536 |
| Prepaid expenses and deferred charges | $11,028 |
| Net Land, buildings, and equipment | $23,380 |
| Investments—publicly traded securities | $4,930,910 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $330,846 |
| Total assets | $5,768,055 |
| Accounts payable and accrued expenses | $421,368 |
| Grants payable | $0 |
| Deferred revenue | $744,006 |
| 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 | $339,552 |
| Total liabilities | $1,504,926 |
| Net assets without donor restrictions | $4,263,129 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $5,768,055 |