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Minnesota State Fair Foundation FY2023 filing

Tax-deductible

Saint Paul, MN501(c)(3)Since 2001Foundations & Grantmakers EIN 41-2013696Revenue $3.6M in FY2023

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.
64¢ of each $1 spent went to programs.
$100K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$100K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
21 mo
of spending, in cash
Looks good: 20.7 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
$130K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 26 voting members
Looks good: 26 of 26 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.6M
+34% vs prior year
Spent
$2.3M
To programs
64%
Net assets
$6.4M
By yearFY2020–FY2025
Revenue
$3.6M
FY2023▲ +34%
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
$2.3M
FY2023▲ +17%
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
$6.4M
FY2023▲ +27%
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 FY2023 Form 990 (year ending October 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

64 cents of each dollar spent went to programs.

Program services 64% · $1.5M Management & general 12% · $291K Fundraising 24% · $557K

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

30 people listed on the 990; $100K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Shana Zaiser
Development Director
$100,492Pt VII · Sec A
Litton Field
Vice Chair
$0Pt VII · Sec A
Jerry Hammer
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Eric Britt
Treasurer
$0Pt VII · Sec A
Andrea Ames
Director
$0Pt VII · Sec A
Dale Bachman
Director
$0Pt VII · Sec A
Julie Craven
Director
$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 · $1.5M · in their own filed words · FY2022
01

The minnesota state fair foundation grants to the minnesota state fair support capital and program improvements aligned with these state fair program areas: agricultural education, art and culture, environment, history and heritage, and education.

$1.5Mprogram 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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.6M
Ln 12
Gifts and grantsLn 1h$3.0M
Other incomeLn 4–11$428K
Investment incomeLn 3$142K
Money outPt IX
$2.3M
Ln 25
Programscol B$1.5M
Managementcol C$291K
Fundraisingcol D$557K
Owns and owesPt X
$6.4M
net assets · Ln 32
Cash and savingsLn 1–2$4.0M
Total assetsLn 16$6.6M
LiabilitiesLn 26$130K
PeoplePt VI, VII
30
listed · VII A
PaidVII A1
Voting boardVI 1a26
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.0M
Noncash giftsLn 1g$230K
Fundraising eventsLn 1c$138K
Investment incomeLn 3$142K
Other incomeLn 4–11$428K
Total revenueLn 12$3.6M
Assets in detailPt X, end of year
CashLn 1$284K
SavingsLn 2$3.7M
Cash and savings togetherLn 1–2$4.0M
InvestmentsLn 11–13$2.3M
Land, buildings, equipmentLn 10c$376
Total assetsLn 16$6.6M
LiabilitiesLn 26$130K
Net assetsLn 32$6.4M
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 FY23End FY23
Cash and savingsLn 1–2$3.1M$4.0M
InvestmentsLn 11–13$1.7M$2.3M
Land, buildings, equipmentLn 10c$479$376
Total assetsLn 16$5.2M$6.6M
LiabilitiesLn 26$117K$130K
Net assetsLn 32$5.1M$6.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.2M$1.2M
Pay of current officers, directors and key staffLn 5$132K$43K$24K$64K
Other salaries and wagesLn 7$369K$119K$68K$181K
Pension plan contributionsLn 8$31K$11K$4K$16K
Other employee benefitsLn 9$84K$30K$12K$42K
Payroll taxesLn 10$46K$16K$7K$23K
Accounting feesLn 11c$59K$59K
Other fees for servicesLn 11g$35K$17K$11K$6K
Office expensesLn 13$36K$3K$12K$21K
TravelLn 17$774$504$270
Conferences, conventions and meetingsLn 19$239$239
Depreciation, depletion and amortizationLn 22$103$36$15$52
InsuranceLn 23$5K$4K$1K
Other expenses (24a–d)Ln 24$267K$24K$68K$175K
All other expensesLn 24e$52K$5K$21K$27K
Total functional expensesLn 25$2.3M$1.5M$291K$557K

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 Viewing $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 $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 FY2023 990 (6 parts)
Part I · Summary $3,605,633 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,314,767$3,035,554
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $24,716$141,962
I-11 Other revenuePrior year $353,702$428,117
I-12 Total revenuePrior year $2,693,185$3,605,633
I-13 Grants and similar amounts paidPrior year $1,031,642$1,216,874
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $606,899$661,481
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $353,671$455,338
I-18 Total expensesPrior year $1,992,212$2,333,693
I-19 Revenue less expensesPrior year $700,973$1,271,940
Part VI · Governance 26 of 26 board members independent, no flags
VI-1a Voting members of the governing body26
VI-1b Independent voting members26
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 $3,605,633 across 8 lines filed
Lines not itemized here account for $360,624 of total revenue; see the IRS return.
VIII-1c Fundraising events$137,550
VIII-1f All other contributions, gifts and grants$2,898,004
VIII-1g Noncash contributions (included above)$230,307
VIII-1h Total contributions, gifts and grants$3,035,554
VIII-3 Investment incomeExcluded from tax $141,962$141,962
VIII-8 Net income from fundraising eventsExcluded from tax $67,443$67,443
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $50$50
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $570,079$3,605,633
Part IX · Statement of functional expenses $2,333,693 across 15 lines filed
IX-1 Grants to domestic organizationsPrograms $1,216,874$1,216,874
IX-5 Pay of current officers, directors and key staffPrograms $43,419 · Management $23,684 · Fundraising $64,472$131,575
IX-7 Other salaries and wagesPrograms $119,326 · Management $67,930 · Fundraising $181,446$368,702
IX-8 Pension plan contributionsPrograms $11,090 · Management $4,498 · Fundraising $15,721$31,309
IX-9 Other employee benefitsPrograms $29,939 · Management $11,887 · Fundraising $42,315$84,141
IX-10 Payroll taxesPrograms $16,014 · Management $6,863 · Fundraising $22,877$45,754
IX-11c Accounting feesManagement $59,411$59,411
IX-11g Other fees for servicesPrograms $16,860 · Management $11,295 · Fundraising $6,414$34,569
IX-13 Office expensesPrograms $2,721 · Management $12,473 · Fundraising $20,561$35,755
IX-17 TravelManagement $504 · Fundraising $270$774
IX-19 Conferences, conventions and meetingsFundraising $239$239
IX-22 Depreciation, depletion and amortizationPrograms $36 · Management $15 · Fundraising $52$103
IX-23 InsuranceManagement $3,960 · Fundraising $1,262$5,222
IX-24 Other expenses (24a–d)Programs $24,200 · Management $67,643 · Fundraising $174,961$266,804
IX-24e All other expensesPrograms $4,954 · Management $20,817 · Fundraising $26,690$52,461
IX-25 Total functional expensesPrograms $1,485,433 · Management $290,980 · Fundraising $557,280$2,333,693
Part X · Balance sheet $6,560,863 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $754,900$284,227
X-2 Savings and temporary cash investmentsStart of year $2,351,376$3,745,157
X-3 Pledges and grants receivableStart of year $344,729$195,882
X-4 Accounts receivableStart of year $930$0
X-8 Inventories for sale or useStart of year $6,616$3,744
X-9 Prepaid expenses and deferred chargesStart of year $17,183$13,758
X-10c Land, buildings and equipment, netStart of year $479$376
X-11 Publicly traded securitiesStart of year $1,700,705$2,317,719
X-16 Total assetsStart of year $5,176,918$6,560,863
X-17 Accounts payable and accrued expensesStart of year $117,266$130,064
X-26 Total liabilitiesStart of year $117,266$130,064
X-27 Net assets without donor restrictionsStart of year $2,525,570$3,003,367
X-28 Net assets with donor restrictionsStart of year $2,534,082$3,427,432
X-32 Total net assets or fund balancesStart of year $5,059,652$6,430,799
X-33 Total liabilities and net assetsStart of year $5,176,918$6,560,863
Part XI · Reconciliation of net assets $6,430,799 net assets at year end
XI-1 Total revenue$3,605,633
XI-2 Total expenses$2,333,693
XI-3 Revenue less expenses$1,271,940
XI-4 Net assets at start of year$5,059,652
XI-5 Net unrealized gains (losses) on investments$99,207
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,430,799

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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