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Minnesota State Fair Foundation FY2020 filing

Tax-deductible

Saint Paul, MN501(c)(3)Since 2001Foundations & Grantmakers EIN 41-2013696Revenue $1.4M in FY2020

On file with the IRSmsffoundation.org1265 Snelling Ave N, 55108-3099 · Saint Paul, MNTax-exempt since Jun 2002Publicly supported charity — 170(b)(1)(A)(vi)

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To preserve and improve Minnesota State Fair buildings, programs, and educational experiences.

501(c)(3) charity; gifts are tax-deductible.
59¢ of each $1 spent went to programs.
$92K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $3.3M a year · 59% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
59%
of spending
Worth a look: 59% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$92K
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
15 mo
of spending, in cash
Looks good: 14.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $38K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$202K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
25
of 25 voting members
Looks good: 25 of 25 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.4M
Spent
$1.7M
To programs
59%
Net assets
$3.5M
By yearFY2020–FY2025
Revenue
$1.4M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$1.4M
FY2021$2.8M
FY2022$2.7M
FY2023$3.6M
FY2024$13.7M
FY2025$9.3M
Expenses
$1.7M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7M
FY2021$1.9M
FY2022$2.0M
FY2023$2.3M
FY2024$3.1M
FY2025$2.7M
Net assets
$3.5M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$3.5M
FY2021$4.8M
FY2022$5.1M
FY2023$6.4M
FY2024$17.6M
FY2025$24.8M

From the FY2020 Form 990 (year ending October 2020) · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

59 cents of each dollar spent went to programs.

Program services 59% · $1.0M Management & general 21% · $357K Fundraising 20% · $352K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

26 people listed on the 990; $92K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
Mary Chung
Executive Director
$91,735Pt VII · Sec A
Sandy Craighead
Board Chair
$0Pt VII · Sec A
Jason Koerth
Vice Chair
$0Pt VII · Sec A
Jerry Hammer
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Dale Bachman
Board Member
$0Pt VII · Sec A
Eric Britt
Board Member
$0Pt VII · Sec A
Julie Craven
Board Member
$0Pt VII · Sec A

Shana Zaiser’s $101K as Development Director is at the 31st percentile of top reported officer pay among 1690 $1–10M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2021FY2020
Mary Chung———$127,523$91,735
Shana Zaiser$100,826$109,666$100,492——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Minnesota State Fair Foundation executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Preserves and improves Minnesota State Fair buildings, programs, and educational experiences.

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Provided by the organization

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1 program · $1.0M · in their own filed words · FY2019
01

In 2020, the minnesota state fair foundation granted over $800,000 to the minnesota state fair for capital and program improvements. Cash grants supported arts and culture through the fine arts exhibition by making it possible to share the art experience with audiences virtually as well as in-person; ongoing improvements to the swine…

$1.0Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Ken & Betty Dahlberg FoundationFY2025$25K
The John Gale Memorial FoundationFY2025$13K
Total grants receivedfrom 2 funders$38K
Grants paid · 6 grants · $7.3M · 2019–2024
Minnesota State Agricultural Society - 1265 Snelling Avenue NorthFY2024$1,498,118
Minnesota State Agricultural SocietyFY2023$1,995,519
Minnesota State Agricultural SocietyFY2022$1,191,688
Minnesota State Agricultural SocietyFY2021$1,031,642
Minnesota State Agricultural SocietyFY2020$821,469
Minnesota State Agricultural SocietyFY2019$805,855

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.4M
Ln 12
Gifts and grantsLn 1h$1.3M
Other incomeLn 4–11$87K
Investment incomeLn 3$24
Money outPt IX
$1.7M
Ln 25
Programscol B$1.0M
Managementcol C$357K
Fundraisingcol D$352K
Owns and owesPt X
$3.5M
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$3.7M
LiabilitiesLn 26$202K
PeoplePt VI, VII
26
listed · VII A
PaidVII A1
Voting boardVI 1a25
IndependentVI 1b25
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Noncash giftsLn 1g$101K
Investment incomeLn 3$24
Other incomeLn 4–11$87K
Total revenueLn 12$1.4M
Assets in detailPt X, end of year
CashLn 1$312K
SavingsLn 2$1.8M
Cash and savings togetherLn 1–2$2.1M
InvestmentsLn 11–13$1.3M
Land, buildings, equipmentLn 10c$685
Total assetsLn 16$3.7M
LiabilitiesLn 26$202K
Net assetsLn 32$3.5M
OperationsPt I, VI
EmployeesI 56
VolunteersI 625
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$2.4M$2.1M
InvestmentsLn 11–13$1.2M$1.3M
Land, buildings, equipmentLn 10c$788$685
Total assetsLn 16$3.8M$3.7M
LiabilitiesLn 26$109K$202K
Net assetsLn 32$3.7M$3.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$811K$811K
Pay of current officers, directors and key staffLn 5$144K$57K$29K$57K
Other salaries and wagesLn 7$352K$73K$214K$65K
Pension plan contributionsLn 8$23K$4K$14K$4K
Other employee benefitsLn 9$90K$22K$46K$22K
Payroll taxesLn 10$35K$9K$18K$9K
Accounting feesLn 11c$46K$46K
Other fees for servicesLn 11g$41K$15K$26K
Office expensesLn 13$28K$1K$7K$19K
Information technologyLn 14$60$15$30$15
TravelLn 17$234$33$201
Conferences, conventions and meetingsLn 19$6K$6K
Depreciation, depletion and amortizationLn 22$103$25$52$26
InsuranceLn 23$5K$1K$3K
Other expenses (24a–d)Ln 24$125K$29K$12K$84K
All other expensesLn 24e$14K$3K$732$10K
Total functional expensesLn 25$1.7M$1.0M$357K$352K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $9.3M$2.7M$6.7M$24.8M 990 PDF
FY2024 $13.7M$3.1M$10.6M$17.6M 990 PDF
FY2023 $3.6M$2.3M$1.3M$6.4M 990 PDF
FY2022 $2.7M$2.0M$701K$5.1M 990 PDF
FY2021 $2.8M$1.9M$869K$4.8M 990 PDF
FY2020 Viewing $1.4M$1.7M−$308K$3.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $1,410,142 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,334,736$1,322,737
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $511$24
I-11 Other revenuePrior year $324,897$87,381
I-12 Total revenuePrior year $2,660,144$1,410,142
I-13 Grants and similar amounts paidPrior year $1,001,250$811,200
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $623,992$643,050
I-16a Professional fundraising feesPrior year $35,309$0
I-17 Other expensesPrior year $311,705$264,124
I-18 Total expensesPrior year $1,972,256$1,718,374
I-19 Revenue less expensesPrior year $687,888−$308,232
Part VI · Governance 25 of 25 board members independent, no flags
VI-1a Voting members of the governing body25
VI-1b Independent voting members25
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,410,142 across 6 lines filed
Lines not itemized here account for $80,206 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$1,322,737
VIII-1g Noncash contributions (included above)$101,336
VIII-1h Total contributions, gifts and grants$1,322,737
VIII-3 Investment incomeExcluded from tax $24$24
VIII-8 Net income from fundraising eventsExcluded from tax $7,175$7,175
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $87,405$1,410,142
Part IX · Statement of functional expenses $1,718,374 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $811,200$811,200
IX-5 Pay of current officers, directors and key staffPrograms $57,426 · Management $28,713 · Fundraising $57,426$143,565
IX-7 Other salaries and wagesPrograms $72,945 · Management $213,989 · Fundraising $64,837$351,771
IX-8 Pension plan contributionsPrograms $4,129 · Management $14,047 · Fundraising $4,377$22,553
IX-9 Other employee benefitsPrograms $21,634 · Management $45,782 · Fundraising $22,357$89,773
IX-10 Payroll taxesPrograms $8,564 · Management $17,977 · Fundraising $8,847$35,388
IX-11c Accounting feesFundraising $45,545$45,545
IX-11g Other fees for servicesManagement $15,427 · Fundraising $25,933$41,360
IX-13 Office expensesPrograms $1,123 · Management $7,290 · Fundraising $19,282$27,695
IX-14 Information technologyPrograms $15 · Management $30 · Fundraising $15$60
IX-17 TravelManagement $33 · Fundraising $201$234
IX-19 Conferences, conventions and meetingsFundraising $5,721$5,721
IX-22 Depreciation, depletion and amortizationPrograms $25 · Management $52 · Fundraising $26$103
IX-23 InsuranceManagement $1,065 · Fundraising $3,461$4,526
IX-24 Other expenses (24a–d)Programs $29,364 · Management $12,015 · Fundraising $83,775$125,154
IX-24e All other expensesPrograms $2,907 · Management $732 · Fundraising $10,087$13,726
IX-25 Total functional expensesPrograms $1,009,332 · Management $357,152 · Fundraising $351,890$1,718,374
Part X · Balance sheet $3,684,844 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $749,305$312,114
X-2 Savings and temporary cash investmentsStart of year $1,603,837$1,807,464
X-3 Pledges and grants receivableStart of year $264,835$160,608
X-4 Accounts receivable$72,352
X-8 Inventories for sale or useStart of year $6,271$5,368
X-9 Prepaid expenses and deferred chargesStart of year $11,375$10,862
X-10c Land, buildings and equipment, netStart of year $788$685
X-11 Publicly traded securitiesStart of year $1,159,763$1,315,391
X-16 Total assetsStart of year $3,796,174$3,684,844
X-17 Accounts payable and accrued expensesStart of year $108,770$107,449
X-24 Unsecured notes and loans payable$94,700
X-26 Total liabilitiesStart of year $108,770$202,149
X-27 Net assets without donor restrictionsStart of year $1,481,595$1,393,642
X-28 Net assets with donor restrictionsStart of year $2,205,809$2,089,053
X-32 Total net assets or fund balancesStart of year $3,687,404$3,482,695
X-33 Total liabilities and net assetsStart of year $3,796,174$3,684,844
Part XI · Reconciliation of net assets $3,482,695 net assets at year end
XI-1 Total revenue$1,410,142
XI-2 Total expenses$1,718,374
XI-3 Revenue less expenses−$308,232
XI-4 Net assets at start of year$3,687,404
XI-5 Net unrealized gains (losses) on investments$103,523
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,482,695

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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