Morrison County Agricultural Society
- Assets
- $759.9k
- Revenue
- $162.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Little Falls, MN
- Founding
- 11/1943
- Data as of
- 12/2021
- EIN
- 41-0713020
Organization Overview
Morrison County Agricultural Society is located in Little Falls, MN. The organization was established in 1943. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Morrison County Agricultural Society is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2021, Morrison County Agricultural Society generated $162.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $174.8k during the year ending 12/2021. While expenses have increased by 3.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE THE ANNUAL COUNTY FAIR
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTING THE ANNUAL COUNTY FAIR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clint Kathrein Pres. | Officer | 2 | $0 |
Charlie Gunderson V P | Officer | 1 | $0 |
Brenda Rudolph Secretary | Officer | 1 | $0 |
Beth Gunderson Treasurer | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $220 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $37,913 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,894 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,027 |
| Total Program Service Revenue | $79,753 |
| Investment income | $330 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $41,080 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $162,190 |
| 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. | $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 | $232 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $485 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,519 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,866 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,870 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,675 |
| Insurance | $0 |
| All other expenses | $81,184 |
| Total functional expenses | $174,831 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $173 |
| Savings and temporary cash investments | $185,166 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $574,551 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $759,890 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $759,890 |
| Total liabilities and net assets/fund balances | $759,890 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa-Nebraska Farm Equipment Association Inc Johnston, IA | $8,633,028 | $3,095,740 |
South Dakota Farm Bureau Federation Huron, SD | $2,922,262 | $2,176,457 |
North Dakota Crop Improvement & Seed Association Fargo, ND | $643,754 | $1,270,188 |
Fox Valley Cooperative Farm Management Association Appleton, WI | $1,517,902 | $1,296,929 |
Mississippi Valley Farm Bus Assn Fairfield, IA | $0 | $944,274 |
Central Iowa Farm Business Assn Jefferson, IA | $566,912 | $990,824 |
Fayette County Agricultural Society West Union, IA | $1,416,189 | $1,190,275 |
Northern Plains Potato Growers Association East Grand Forks, MN | $1,522,109 | $1,231,654 |
Wisconsin Crop Improvement Association Agronomy Building Middleton, WI | $1,498,748 | $660,442 |
Wisconsin State Cranbery Growers Association Wisconsin Rapids, WI | $202,268 | $675,448 |
Scott County Agricultural Society Inc Jordan, MN | $1,086,057 | $784,804 |
North Dakota Grain Growers Association West Fargo, ND | $770,775 | $713,248 |