Minnesota State Fair Foundation
- Assets
- $5.0m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 8
- Location
- St Paul, MN
- Founding
- 06/2002
- Data as of
- 10/2021
- EIN
- 41-2013696
Organization Overview
Minnesota State Fair Foundation is located in St Paul, MN. The organization was established in 2002. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 10/2021, Minnesota State Fair Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota State Fair Foundation 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 10/2021, Minnesota State Fair Foundation generated $2.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $1.9m during the year ending 10/2021. 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 PRESERVE AND IMPROVE MINNESOTA STATE FAIR BUILDINGS, PROGRAMS, AND EDUCATIONAL EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2021, THE MINNESOTA STATE FAIR FOUNDATION GRANTED NEARLY $850,000 TO THE MINNESOTA STATE FAIR FOR CAPITAL AND PROGRAM IMPROVEMENTS. FOUNDATION SUPPORT IS ALIGNED WITH THESE STATE FAIR PROGRAM AREAS: AGRICULTURE, ART, ENVIRONMENT, HISTORY AND HERITAGE, AND EDUCATION. THE FOUNDATION ALSO RETAINED ASSETS FOR FUTURE GRANTS, AND CONTINUED TO BUILD ENDOWMENT FUNDS.
IN 2021, THE MINNESOTA STATE FAIR FOUNDATION GRANTED NEARLY $850,000 TO THE MINNESOTA STATE FAIR FOR CAPITAL AND PROGRAM IMPROVEMENTS. FOUNDATION SUPPORT IS ALIGNED WITH THESE STATE FAIR PROGRAM AREAS: AGRICULTURE, ART, ENVIRONMENT, HISTORY AND HERITAGE, AND EDUCATION. THE FOUNDATION ALSO RETAINED ASSETS FOR FUTURE GRANTS, AND CONTINUED TO BUILD ENDOWMENT FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Chung Executive Director | Officer | 40 | $127,523 |
Jason Koerth Vice Chair | OfficerTrustee | 1 | $0 |
Jerry Hammer Secretary | OfficerTrustee | 1 | $0 |
Litton Es Field Jr Treasurer | OfficerTrustee | 1 | $0 |
Sandy Craighead Board Chair | OfficerTrustee | 1 | $0 |
Dale Bachman Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $60,725 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,151,590 |
| Noncash contributions included in lines 1a–1f | $123,895 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,212,315 |
| Total Program Service Revenue | $0 |
| Investment income | $1,338 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $118,978 |
| Net Income from Gaming Activities | $30,730 |
| Net Income from Sales of Inventory | $237,335 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,790,131 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $847,769 |
| 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. | $136,495 |
| Compensation of current officers, directors, key employees. | $27,299 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $404,006 |
| Pension plan accruals and contributions | $23,744 |
| Other employee benefits | $103,208 |
| Payroll taxes | $38,057 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $140 |
| Fees for services: Accounting | $46,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,722 |
| Advertising and promotion | $450 |
| Office expenses | $40,452 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $131 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $89 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $104 |
| Insurance | $4,885 |
| All other expenses | $52,384 |
| Total functional expenses | $1,920,708 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $782,048 |
| Savings and temporary cash investments | $1,717,154 |
| Pledges and grants receivable | $398,086 |
| Accounts receivable, net | $9,480 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,800 |
| Prepaid expenses and deferred charges | $11,274 |
| Net Land, buildings, and equipment | $582 |
| Investments—publicly traded securities | $2,045,174 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,967,598 |
| Accounts payable and accrued expenses | $192,999 |
| 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 | $192,999 |
| Net assets without donor restrictions | $2,003,601 |
| Net assets with donor restrictions | $2,770,998 |
| 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 | $4,967,598 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Minnesota State Fair Foundation has recieved totaling $84,144.
| Awarding Organization | Amount |
|---|---|
The Scrooby Foundation Saint Paul, MN PURPOSE: GROUNDS & BUILDING MAINTENANCE | $25,000 |
Saint Paul & Minnesota Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $23,500 |
Minneapolis Foundation Minneapolis, MN PURPOSE: DONOR-RECOMMENDED, ARTS & CULTURE | $9,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,704 |
Fleetwood Foundation St Paul, MN PURPOSE: HISTORY & HERITAGE | $7,500 |
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $5,940 |
Endowment Analysis
| Beg. Balance | $1,443,676 |
| Earnings | $422,481 |
| Net Contributions | $239,683 |
| Grants | -$60,665 |
| Ending Balance | $2,045,175 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Goodman Family Operating Foundation Chaska, MN | $298,216,479 | $15,439,155 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Wca Foundation C/O The Minneapolis Foundation Minneapolis, MN | $0 | $1,050,329 |
Esther And Harold Mertz Foundation Sioux Falls, SD | $674,132,608 | $21,835,940 |
Larson Foundation Sioux Falls, SD | $23,259,212 | -$633,184 |
John T Vucurevich Foundation Rapid City, SD | $151,565,692 | $20,798,188 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |
Pohlad Family Foundation Minneapolis, MN | $102,001,164 | $18,381,775 |
Roy J Carver Charitable Tr Muscatine, IA | $235,043,756 | $22,231,044 |
F R Bigelow Foundation Trust 555 St Paul, MN | $202,026,485 | $23,166,449 |
Lewis W Hyer Trust 098310c Milwaukee, WI | $167,937,358 | $18,090,828 |
Charles E Lakin Foundation Inc Council Bluffs, IA | $146,415,136 | $18,758,116 |