Minnesota Fair Plan

Organization Overview

Minnesota Fair Plan is located in Bloomington, MN. The organization was established in 1970. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Minnesota Fair Plan employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Fair Plan is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, Minnesota Fair Plan generated $3.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $3.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE OWNER AND TENANTS OF INDIVIDUAL RESIDENECES, SMALL BUSINESS OWNERS, FARMERS AND CO-OP RESIDENTS AN OPPORTUNITY TO PURCHASE LIMITED PROPERTY OR HOMEOWNERS INSURANCE WHEN THEY ARE UNABLE TO DO SO IN THE VOLUNTARY MARKET.

Describe the Organization's Program Activity:

Part 3 - Line 4a

DURING 2021, THE MINNESOTA FAIR PLAN PROVIDED INSURANCE COVERAGE TO 3,400 POLICYHOLDERS THROUGHOUT THE STATE OF MINNESOTA. THE MN FAIR PLAN CONTINUED ITS ROLE AS THE PRIMARY FINANCIAL SUPPORTER FOR THE IAAI'S ARSON HOTLINE REWARD PROGRAM. IN ADDITION, THE FAIR PLAN CONTINUED ITS ROLE AS THE PRIMARY FINANCIAL SUPPORTER FOR THE GOVERNOR'S FIRE SAFETY DAY AT THE STATE FAIR.


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Board, Officers & Key Employees

Name (title)Compensation
Gary Rupp
Executive Director
$160,858
Elaine Love
Director
$1,200
Sheri Melander-Smith
Director
$1,200
Robert Meeks
Treasurer
$1,000
Michael J Mchugh
Secretary
$1,000
Roger R Ooms
Chair
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Marias Technology
Information Tech Implentation And Testin
$160,031
Integris
Computer System & Support
$104,269
View All Vendors

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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$2,999,870
Investment income $17,419
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
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 $3,023,700

Grants Awarded

Over the last fiscal year, Minnesota Fair Plan has awarded $220,000 in support to 3 organizations.

Grant RecipientAmount

REGIONS HEAT PROGRAM

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: PUBLIC FIRE SAFTEY EDUCATION

$150,000

MINNESOTA STATE FIRE CHIEFS ASSOCIATION

Org PageRecipient Profile

Milwaukee, WI

PURPOSE: PUBLIC FIRE SAFTEY EDUCATION

$65,000

MINNESOTA CHAPTER OF INTERNATIONAL ASSOCIATION OF ARSON INVESTIGATORS

Org PageRecipient Profile

Montgomery, MN

PURPOSE: ANTI ARSON REWARD PROGRAM

$5,000
View Grant Profile

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