Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1996.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
73 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
29 people listed on the 990; $94K paid to officers and key staff.
Val Aarsvold’s $94K as Executive Director is at the 27th percentile of top reported officer pay among 3394 $1–10M education 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
| Name | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Val Aarsvold | $93,771 | $96,851 | $93,020 | $82,263 | $86,761 |
| Amanda Sommers | — | — | $73,000 | $66,349 | $70,349 |
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 The Minnesota FFA Foundation Incorporated executive salaries →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
Supports Minnesota FFA programs and students with financial aid.
Questions for The Minnesota FFA Foundation Incorporated
Your first name shows with your question. The Minnesota FFA Foundation Incorporated answers here, for everyone.
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. 5800 students attended the state convention in 2024.
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…
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.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | FY24 | FY23 |
|---|---|---|
| End of yearLn 1g | $3.5M | $3.0M |
| Given inLn 1b | $71K | $28K |
| SpentLn 1d–1f | $57K | $72K |
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $431K | $684K |
| InvestmentsLn 11–13 | $3.3M | $3.7M |
| Total assetsLn 16 | $3.8M | $4.4M |
| LiabilitiesLn 26 | $10K | $23K |
| Net assetsLn 32 | $3.8M | $4.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $5K | $5K | ||
| Grants to domestic individualsLn 2 | $112K | $112K | ||
| Pay of current officers, directors and key staffLn 5 | $94K | $66K | $9K | $19K |
| Other salaries and wagesLn 7 | $103K | $72K | $10K | $21K |
| Payroll taxesLn 10 | $13K | $9K | $1K | $3K |
| Accounting feesLn 11c | $47K | $47K | ||
| Investment management feesLn 11f | $38K | $38K | ||
| Advertising and promotionLn 12 | $3K | $3K | ||
| Office expensesLn 13 | $9K | $9K | ||
| Information technologyLn 14 | $12K | $12K | ||
| OccupancyLn 16 | $3K | $3K | ||
| TravelLn 17 | $14K | $9K | $1K | $4K |
| InsuranceLn 23 | $5K | $5K | ||
| Other expenses (24a–d)Ln 24 | $295K | $276K | $19K | |
| Total functional expensesLn 25 | $752K | $548K | $158K | $46K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest ViewingFiled with the IRS Nov 13, 2025 | $1.0M | $752K | $289K | $4.4M | 990 PDF |
| FY2023Filed with the IRS Nov 15, 2024 | $693K | $760K | −$67K | $3.8M | 990 PDF |
| FY2022Filed with the IRS Nov 13, 2023 | $560K | $513K | $47K | $3.7M | 990 PDF |
| FY2021Filed with the IRS Nov 15, 2022 | $2.2M | $450K | $1.8M | $3.7M | 990 PDF |
| FY2020Filed with the IRS Nov 5, 2021 | $1.2M | $474K | $713K | $1.7M | 990 PDF |
Schedules filed Part IV
See the full FY2024 990 (6 parts)
Part I · Summary $1,040,684 revenue, 12 lines filed
Part VI · Governance 20 of 20 board members independent, no flags
Part VIII · Statement of revenue $1,040,684 across 8 lines filed
Part IX · Statement of functional expenses $751,970 across 14 lines filed
Part X · Balance sheet $4,414,265 assets, 15 lines filed
Part XI · Reconciliation of net assets $4,391,168 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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