County Of Goodhue Agricultural Society & Mechanics Institute
- Assets
- $452.0k
- Revenue
- $468.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Zumbrota, MN
- Founding
- 06/1943
- Data as of
- 09/2023
- EIN
- 41-0714416
Organization Overview
County Of Goodhue Agricultural Society & Mechanics Institute is located in Zumbrota, 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. As of 09/2023, County Of Goodhue Agricultural Society & Mechanics Institute employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. County Of Goodhue Agricultural Society & Mechanics Institute 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, County Of Goodhue Agricultural Society & Mechanics Institute generated $468.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.3% each year. All expenses for the organization totaled $365.6k during the year ending 09/2023. While expenses have increased by 4.4% 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
PROMOTE AGRICULTURE IN GOODHUE COUNTY, MN
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO HOLD AND CONDUCT AGRICULTURAL EXHIBITIONS, FARIS, HORSE & CATTLE SHOWS AND SIMILAR EVENTS FOR PROMOTION AND IMPROVEMENT OF AGRICULTURE, HORTICULTURE, AND ANIMAL HUSBANDRY AND INDUSTRY IN GOODHUE COUNTY, MN
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Bryan Director | Trustee | 1 | $0 |
Wayne Thomforde Director | Trustee | 1 | $0 |
Mike Kohlnhofer Director | Trustee | 1 | $0 |
Morgan Berg Director | Trustee | 1 | $0 |
Heather Lange Director | Trustee | 1 | $0 |
Josh Finnesgard Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $56,498 |
| All other contributions, gifts, grants, and similar amounts not included above | $64,427 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $120,925 |
| Total Program Service Revenue | $321,599 |
| Investment income | $172 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,481 |
| 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 | $468,177 |
| 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. | $6,500 |
| Compensation of current officers, directors, key employees. | $6,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,530 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,722 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,855 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $28,154 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,238 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,713 |
| Insurance | $12,983 |
| All other expenses | $37,071 |
| Total functional expenses | $365,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,677 |
| Savings and temporary cash investments | $0 |
| 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 | $366,689 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $625 |
| Total assets | $451,991 |
| Accounts payable and accrued expenses | $2,570 |
| 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 | $30,740 |
| Unsecured mortgages and notes payable | $2,040 |
| Other liabilities | $0 |
| Total liabilities | $35,350 |
| Net assets without donor restrictions | $416,641 |
| 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 | $451,991 |