The Minnesota Ffa Foundation Incorporated
- Assets
- $3.7m
- Revenue
- $559.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Plainview, MN
- Founding
- 05/1996
- Data as of
- 12/2022
- EIN
- 41-6038263
Organization Overview
The Minnesota Ffa Foundation Incorporated is located in Plainview, MN. The organization was established in 1996. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2022, Minnesota Ffa Foundation Incorporated employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Minnesota Ffa Foundation Incorporated 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, Minnesota Ffa Foundation Incorporated generated $559.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $512.8k during the year ending 12/2022. While expenses have increased by 1.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FINANCIAL SUPPORT TO FUTURE FARMERS OF AMERICA (FFA) PROGRAMS AND STUDENTS IN MINNESOTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS:STUDENTS ARE ENTRUSTED TO USE THESE FUNDS TO ADVANCE THEIR PROJECT OR EDUCATION. VARYING AMOUNTS IN SCHOLARSHIP FUNDS ARE PROVIDED TO UNIVERSITY STUDENTS MAJORING IN AGRICULTURAL EDUCATION. SUPPORT IS PROVIDED TO STUDENTS PARTICIPATING IN THE WASHINGTON LEADERSHIP CONFERENCE AS WELL AS STUDENTS STUDYING INTERNATIONAL AGRICULTURE. A TOTAL OF 40 STUDENTS BENEFITED FROM THE MULTIPLE SCHOLARSHIPS GIVEN OUT IN 2021. ALSO THOUSANDS OF DOLLARS ARE PROVIDED ANNUALLY TO PROVIDE NEW FFA MEMBERS WITH OFFICIAL FFA JACKETS. 540 STUDENTS RECEIVED JACKETS IN 2022.
YOUTH LEADERSHIP:SUPPORT TO GROW LEADERSHIP. USUALLY CONDUCTED AT THE CHAPTER, REGIONAL OR STATE LEVEL. NEARLY $30,000 IS PROVIDED ANNUALLY TO SUPPORT THE MINNESOTA STATE FFA LEADERSHIP CAMPS AND CONFERENCES, INCLUDING STATE GREENHAND LEADERSHIP CAMP, STATE LEADERSHIP CAMP FOR CHAPTER LEADERS AND AG POLICY EXPERIENCE, BLAST OFF, NLCSO, POWER, FFA DAY AT THE CAPITAL AND ROLO. MORE THAN 15,500 STUDENTS BENEFITED FROM THIS PROGRAM IN 2022.
STATE CONVENTION:SUPPORT OF STATE CONVENTION PREPARATION, EVENT AND EVENT FOLLOW-UP. SUPPORT OF THE KEYSTONE EVENT FOR MINNESOTA FFA AS DIRECTED TOWARDS FACILITY CHARGES, STUDENT AWARDS, TECHNOLOGY, CAREER DEVELOPMENT EVENT MATERIALS, SPEAKERS AND CAREER FAIR EXPENSES. 5,900 STUDENTS ATTENDED THE VIRTUAL STATE CONVENTION IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Val Aarsvold Executive Dir. | Trustee | 40 | $93,020 |
Amanda Sommers Program Coord | Trustee | 40 | $73,000 |
Jessica Daberkow Director | Trustee | 2 | $0 |
Peter Grundman Director | Trustee | 2 | $0 |
Jenny Doering Director | Trustee | 2 | $0 |
Natasha Mortenson Director | Trustee | 2 | $0 |
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 | $675,620 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $675,620 |
| Total Program Service Revenue | $0 |
| Investment income | -$172,801 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $57,028 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$198 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $559,649 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $45,450 |
| Grants and other assistance to domestic individuals. | $69,272 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $166,020 |
| Compensation of current officers, directors, key employees. | $9,302 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,117 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,295 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,250 |
| Office expenses | $3,134 |
| Information technology | $6,332 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,237 |
| 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 | $0 |
| Insurance | $1,313 |
| All other expenses | $18,180 |
| Total functional expenses | $512,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $234,296 |
| Savings and temporary cash investments | $539,245 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $45,327 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,257 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,875,358 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,530 |
| Total assets | $3,710,013 |
| 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 | $914,435 |
| Net assets with donor restrictions | $2,795,578 |
| 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 | $3,710,013 |
Grants Awarded
Over the last fiscal year, The Minnesota Ffa Foundation Incorporated has awarded $33,750 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE JACKETS PURPOSE: Ag Education | $25,600 |
WASHINGTON LEADERSHIP CONFER PURPOSE: Ag Education | $8,150 |