Farm By The Lake
- Assets
- $217.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Bagley, MN
- Founding
- 01/1991
- Data as of
- 12/2022
- EIN
- 41-1680503
Organization Overview
Farm By The Lake is located in Bagley, MN. The organization was established in 1991. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Farm By The Lake is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Farm By The Lake generated $49.0k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $50.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Phaller Vice-President | 10 | $0 | |
Chris Arnold President | 10 | $0 | |
Mark Edevold Secratary Treasurer | 10 | $0 | |
Ken Sutherland Director | 10 | $0 | |
Nancy Weerts Director | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,945 |
| Total Program Service Revenue | $23,654 |
| Membership dues | $0 |
| Investment income | $1,374 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $57 |
| Total Revenue | $49,030 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $23,686 |
| Professional fees and other payments to independent contractors | $1,926 |
| Occupancy, rent, utilities, and maintenance | $19,567 |
| Printing, publications, postage, and shipping | $1,413 |
| Other expenses | $4,114 |
| Total expenses | $50,706 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $66,958 |
| Other assets | $0 |
| Total assets | $217,636 |
| Total liabilities | $250 |
| Net assets or fund balances | $217,386 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Farm By The Lake has recieved totaling $64.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $64 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Historic Arnolds Park Inc Arnolds Park, IA | $45,905,371 | $12,228,274 |
National Czech & Slovak Museum & Library Cedar Rapids, IA | $33,480,949 | $3,909,322 |
Vesterheim Norwegian American Museum Decorah, IA | $24,953,272 | $7,187,886 |
Leigh Yawkey Woodson Art Museum Inc Wausau, WI | $54,767,608 | $3,707,378 |
Danish Immigrant Museum Elk Horn, IA | $10,787,918 | $1,977,649 |
National Railroad Museum Inc Green Bay, WI | $10,947,980 | $3,836,753 |
Door County Maritime Museum & Lighthouse Preservation Society In Sturgeon Bay, WI | $12,430,907 | $3,874,583 |
Wisconsin Maritime Museum Inc Manitowoc, WI | $5,537,448 | $1,354,482 |
National Sprint Car Hall Of Fame & Museum Foundation Inc Knoxville, IA | $7,797,948 | $2,501,286 |
Lake Superior Railroad Museum Duluth, MN | $1,428,444 | $1,322,754 |
Pavek Museum Of Broadcasting St Louis Park, MN | $6,139,052 | $709,013 |
Grout Museum Inc Waterloo, IA | $872,225 | $1,523,676 |