Farm House Fraternity Inc
- Assets
- $3.6m
- Revenue
- $352.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Minneapolis, MN
- Founding
- 11/1977
- Data as of
- 06/2022
- EIN
- 41-6044865
Organization Overview
Farm House Fraternity Inc is located in Minneapolis, MN. The organization was established in 1977. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Farm House Fraternity Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Farm House Fraternity Inc generated $352.8k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $367.7k during the year ending 06/2022. While expenses have increased by 28.4% per year over the past 7 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
SEE PART III, LINE 4A
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE, OPERATE AND MAINTAIN HOUSING AND OTHER FACILITIES FOR THE USE AND BENEFIT OF MN FARMHOUSE FRATERNITY CHAPTER, ITS MEMBERS AND THEIR GUESTS. ALSO TO AID, FOSTER, AND PROMOTE THE EDUCATION, HEALTH, SAFETY AND GENERAL WELFARE OF THE UNDERGRADUATE MEMBERS OF FARMHOUSE FRATERNITY AT THE UNVERSITY OF MINNESOTA AND THE ESTABLISHMENT AND MAINTENANCE OF THE MN CHAPTER HOUSE OF FARMHOUSE FRATERNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Siewert Secretary | OfficerTrustee | 2 | $0 |
Joel Reiman President | OfficerTrustee | 5 | $0 |
Gary Sloan Treasurer | OfficerTrustee | 2 | $0 |
Kent Horsager Director | Trustee | 1 | $0 |
Kyle O'toole Director | Trustee | 1 | $0 |
Dan Foss Director | Trustee | 1 | $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 | $80,714 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $80,714 |
| Total Program Service Revenue | $272,000 |
| Investment income | $120 |
| 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 | $352,834 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $13,500 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,500 |
| Payroll taxes | $1,351 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,080 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $77 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $107,676 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,500 |
| Interest | $60,302 |
| Payments to affiliates | $4,600 |
| Depreciation, depletion, and amortization | $127,789 |
| Insurance | $33,242 |
| All other expenses | $0 |
| Total functional expenses | $367,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $48,115 |
| Savings and temporary cash investments | $146,125 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $15,616 |
| 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 | $17,714 |
| Net Land, buildings, and equipment | $3,381,108 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,112 |
| Total assets | $3,624,790 |
| Accounts payable and accrued expenses | $3,095 |
| 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 | $1,440,340 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,443,435 |
| Net assets without donor restrictions | $0 |
| 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 | $2,181,355 |
| Total liabilities and net assets/fund balances | $3,624,790 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Farm House Fraternity Inc has recieved totaling $56,939.
| Awarding Organization | Amount |
|---|---|
Farmhouse Foundation Kansas City, MO PURPOSE: EDUCATIONAL PORTION OF HOUSING | $56,939 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Omega Enterprises Inc Eba Green Bay, WI | $419,566 | $1,989,091 |
Sigma Lambda Gamma National Sorority Inc Iowa City, IA | $363,211 | $683,914 |
Delta Tau Delta Fraternity Ames, IA | $14,265 | $764,487 |
Peo Sisterhood International Chapter Des Moines, IA | $1,163,643 | $728,682 |
Farm House Fraternity Inc Ames, IA | $86,673 | $644,568 |
Chi Omega Fraternity Minneapolis, MN | $163,494 | $592,068 |
Alpha Gamma Delta Fraternity Ames, IA | $145,177 | $560,203 |
Sigma Chi Fraternity Minneapolis, MN | $88,169 | $515,786 |
Gamma Phi Beta Sorority Inc Ames, IA | $64,627 | $581,753 |
Pi Sigma Epsilon Inc Milwaukee, WI | $511,121 | $648,587 |
Sigma Nu Fraternity Beta Mu Chapter Iowa City, IA | $52,489 | $439,030 |
Gamma Phi Beta Sorority Inc Iowa City, IA | $451,815 | $470,283 |