2026-04-03T08:29:16-05:00 2025-10-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2024-11-01 412013696 MINNESOTA STATE FAIR FOUNDATION MINN 6512884323 1265 SNELLING AVENUE NORTH ST PAUL MN 551083099 LITTON E S FIELD JR BOARD CHAIR 6512884323 2026-03-24 1 0 SARAH REICHLING P01587996 6123764500 2026-03-24 2024 2025-03-06 01:10:19Z LITTON E S FIELD JR 1265 SNELLING AVENUE NORTH ST PAUL MN 551083099 9529882 0 X WWW.MSFFOUNDATION.ORG X 2001 MN TO PRESERVE AND IMPROVE MN STATE FAIR BUILDINGS, THE FAIRGROUNDS, AND EDUCATIONAL PROGRAMS. 34 34 24 275 0 0 12884267 8067791 0 0 287695 723746 560036 547007 13731998 9338544 2015378 1508086 0 0 693817 731477 0 0 590959 419936 427609 3129131 2667172 10602867 6671372 17749748 24912640 133135 153207 17616613 24759433 THE MINNESOTA STATE FAIR FOUNDATION'S MISSION IS TO PRESERVE AND IMPROVE THE HISTORIC MINNESOTA STATE FAIRGROUNDS AND SUPPORT STATE FAIR PROGRAMS AND PROJECTS IN AGRICULTURE, ARTS & CULTURE, EDUCATION, THE ENVIRONMENT, AND HISTORY. 0 0 1793598 1508086 0 THE MINNESOTA STATE FAIR FOUNDATION GRANTS TO THE MINNESOTA STATE FAIR TO SUPPORT CAPITAL AND PROGRAM IMPROVEMENTS ALIGNED WITH THESE STATE FAIR PROGRAM AREAS: AGRICULTURAL EDUCATION, ARTS AND CULTURE, ENVIRONMENT, HISTORY AND HERITAGE, AND EDUCATION. THE FOUNDATION ALSO RETAINED ASSETS FOR FUTURE GRANTS, AND CONTINUED TO BUILD ENDOWMENT FUNDS. 1793598 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 1 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 4 0 1 24 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 34 34 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN TX UT VA WA WV WI X X JENNINE DUDA 6512884323 1265 SNELLING AVENUE NORTH ST PAUL MN 551083099 LITTON FIELD CHAIR 1.00 0.00 X X 0 0 0 CATHY LAWRENCE VICE CHAIR, DEVELOPMENT CHAIR 1.00 0.00 X X 0 0 0 RENEE ALEXANDER SECRETARY 1.00 0.00 X X 0 0 0 ERIC BRITT TREASURER 1.00 0.00 X X 0 0 0 JASON KOERTH PAST CHAIR 1.00 0.00 X 0 0 0 DALE BACHMAN DIRECTOR 1.00 0.00 X 0 0 0 NICOLE BEHNE DIRECTOR 1.00 0.00 X 0 0 0 DANNY GRUNHOVD DIRECTOR 1.00 0.00 X 0 0 0 DOUG HUEBSCH DIRECTOR 1.00 0.00 X 0 0 0 PETE JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 TED JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 ANDREA AMES DIRECTOR 1.00 0.00 X 0 0 0 LIZ KRAMER DIRECTOR 1.00 0.00 X 0 0 0 PEGGY LUCAS DIRECTOR 1.00 0.00 X 0 0 0 TERRI MCENANEY DIRECTOR 1.00 0.00 X 0 0 0 FRANK PARISI DIRECTOR 1.00 0.00 X 0 0 0 JOHN REMES DIRECTOR 1.00 0.00 X 0 0 0 BRAD RIBAR DIRECTOR 1.00 0.00 X 0 0 0 KEN SANDVIK DIRECTOR 1.00 0.00 X 0 0 0 DAN SHOGREN DIRECTOR 1.00 0.00 X 0 0 0 DAVID SORENSEN DIRECTOR 1.00 0.00 X 0 0 0 FRANK SULLIVAN DIRECTOR 1.00 0.00 X 0 0 0 LINDA TANK DIRECTOR 1.00 0.00 X 0 0 0 DARRELL THOMPSON DIRECTOR 1.00 0.00 X 0 0 0 KAYLA YANG-BEST DIRECTOR 1.00 0.00 X 0 0 0 STEVE KOZIOLEK DIRECTOR 1.00 0.00 X 0 0 0 ANDREA LARSON DIRECTOR 1.00 0.00 X 0 0 0 ANDREA MOKROS DIRECTOR 1.00 0.00 X 0 0 0 CHARLIE NAUEN DIRECTOR 1.00 0.00 X 0 0 0 DAVE RUSTAD DIRECTOR 1.00 0.00 X 0 0 0 CHUCK TRYON DIRECTOR 1.00 0.00 X 0 0 0 ALEXANDRIA SCHROEDER DIRECTOR 1.00 0.00 X 0 0 0 MARY CHUNG EXECUTIVE DIRECTOR 40.00 0.00 X 0 151405 1304 SHANA ZAISER DEVELOPMENT DIRECTOR 40.00 0.00 X 100826 0 31243 100826 151405 32547 1 0 1 0 0 186345 7881446 95793 8067791 723746 723746 120586 186345 24883 95703 95703 100056 19169 80887 80887 517703 147286 370417 370417 9338544 0 0 1270753 1508086 1508086 145184 47911 26133 71140 407310 131824 75041 200445 40862 14314 6111 20437 87669 31369 12123 44177 50452 17658 7568 25226 13798 13798 64510 64510 39888 758 13053 26077 7772 53 1690 6029 1313 1313 103 36 52 15 5826 1303 4523 MATERIALS 110259 1193 1917 107149 SPECIAL EVENT EXPENSES 72941 72941 BANK CHARGES 40598 40598 SALES TAXES 25403 25403 45198 13690 15498 16010 2667172 1793598 282615 590959 267691 177024 14121670 20743827 220178 161751 3329 0 14120 27925 6813 6642 273 171 3122487 3801942 17749748 24912640 133135 153207 133135 153207 X 3876494 4462035 13740119 20297398 17616613 24759433 17749748 24912640 6671372 471448 0 X 0 1 X 1 0 X 2212315 2484269 3035554 12884267 8067791 28684196 2212315 2484269 3035554 12884267 8067791 28684196 14401360 14282836 1338 24716 141962 287695 723746 1179457 189435 50 54877 244362 30108015 2995650 0.47440 0.53160 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: PPP LOAN FORGIVENESS - 2020 AMOUNT: $ 189,435. MISCELLANEOUS REVENUE - 2022 AMOUNT: $ 50. INSURANCE PROCEEDS - 2023 AMOUNT: $ 54,877. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3126493 297568 471448 115462 4305547 2316674 314661 582947 87789 3126493 1783466 507498 99207 73497 2316674 2045175 216578 -415920 62367 1783466 1443676 239683 422481 60665 2045175 0.04000 0.73650 0.22350 0 0 6813 6642 171 171 X 9949969 471448 222886 694334 9255635 82909 82909 9338544 2807149 222886 222886 2584263 82909 82909 2667172 PART V, LINE 4: THE ORGANIZATION'S RESTRICTED ENDOWMENT IS TO BE HELD IN PERPETUITY. EARNINGS ON ENDOWMENT INVESTMENTS MAY BE USED FOR CAPITAL AND PROGRAM IMPROVEMENTS TO BENEFIT THE MINNESOTA STATE FAIR. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND APPLICABLE MINNESOTA REGULATIONS. THE FOUNDATION FOLLOWS THE ACCOUNTING STANDARD FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS STANDARD HAD NO IMPACT ON THE FOUNDATION'S FINANCIAL STATEMENTS. THE FOUNDATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 82,909. PART XII, LINE 4B - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 82,909. TASTE OF THE FAIR 294991 180375 114616 3858 4069 2500 6768 345 FIRST GLANCE 11940 5970 5970 5164 1319 306931 186345 120586 3858 4069 7664 6768 1664 24023 96563 100056 19169 1 0.80000 100056 19169 19169 80887 MN 1 0 1 0 0.00000 1.00000 JENNINE DUDA 1265 SNELLING AVENUE NORTH ST PAUL MN 55108 0 1 100056 1 MINNESOTA STATE AGRICULTURAL SOCIETY - 1265 SNELLING AVENUE NORTH 1265 SNELLING AVENUE NORTH ST PAUL MN 55108 411531915 GOVERNMENT ENTITY 1498118 9968 FMV 40' STORAGE CONTAINER AND FANS IMPROVEMENTS FOR THE MN STATE FAIR 1 0 PART I, LINE 2: THE FOUNDATION REQUIRES DOCUMENTATION OF ESTIMATED COSTS AND/OR FINAL EXPENDITURES FROM THE MINNESOTA STATE FAIR; ITS SOLE GRANTEE. X X X X 0 0 0 0 0 0 0 0 0 MARY CHUNG EXECUTIVE DIRECTOR 0 151405 0 0 0 0 0 600 0 704 0 152709 0 0 PART I, LINE 3 THE EXECUTIVE COMMITTEE OF OUR BOARD OF DIRECTORS IS RESPONSIBLE FOR REVIEWING THE EXECUTIVE DIRECTOR'S PERFORMANCE AND SETTING COMPENSATION IN CONJUNCTION WITH THE NONPROFIT SALARY SURVEY CONDUCTED BY THE MINNESOTA COUNCIL OF NONPROFITS, AS WELL AS A REVIEW OF COMPENSATION FOR OTHER NONPROFIT ORGANIZATIONS' EXECUTIVES. X 9968 FMV X 15 176914 FMV X 23 69600 FMV X GIFT BASKETS 13 7496 FMV X POSTAGE 1 2700 FMV 0 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF CONTRIBUTIONS FORM 990, PART VI, SECTION A, LINE 1A PER OUR BYLAWS: "EXECUTIVE COMMITTEE. THE BOARD OF DIRECTORS SHALL ELECT NOT LESS THAN FOUR OF ITS MEMBERS TO SERVE AS AN EXECUTIVE COMMITTEE WHICH SHALL HAVE AND EXERCISE THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE FOUNDATION EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY TO AMEND THE ARTICLES OF INCORPORATION OR BYLAWS OF THE FOUNDATION OR TO ELECT OR REMOVE DIRECTORS OR ANY OF THE OFFICERS WHOSE POSITIONS ARE NAMED IN SECTION 3.1. THE EXECUTIVE COMMITTEE SHALL AT ALL TIMES BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD." PER OUR POLICIES AND PROCEDURES: "THE FOUNDATION BOARD DELEGATES TO THE EXECUTIVE COMMITTEE THE RESPONSIBILITY TO HIRE, MANAGE AND, IF NECESSARY, DISMISS THE EXECUTIVE DIRECTOR. THE EXECUTIVE COMMITTEE OF THE FOUNDATION BOARD WILL ANNUALLY CONDUCT A PERFORMANCE APPRAISAL AND COMPENSATION REVIEW FOR THE EXECUTIVE DIRECTOR (REVIEW), EITHER ON THE EMPLOYMENT ANNIVERSARY OR A CHANGE IN POSITION. AS PART OF THE ANNUAL PERFORMANCE APPRAISAL, THE EXECUTIVE COMMITTEE SHOULD SEEK INPUT FROM ALL MEMBERS OF THE FOUNDATION BOARD REGARDING THE EXECUTIVE DIRECTOR'S PERFORMANCE." FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING WITH THE IRS, THE AUDIT COMMITTEE CHAIR AND BOARD TREASURER REVIEW THE COMPLETE 990 AND THEN THE 990 PUBLIC INSPECTION COPY IS REVIEWED BY THE FOUNDATION'S AUDIT COMMITTEE. ONCE COMPLETED AND READY FOR FILING, THE 990 IS APPROVED TO ALL MEMBERS OF THE BOARD AND THNE IS FILED BY OUR EXTERNAL AUDIT FIRM. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION'S CONFLICT OF INTEREST POLICY COVERS BOARD MEMBERS, BOARD COMMITTEE MEMBERS, AND KEY STAFF MEMBERS. EACH COVERED INDIVIDUAL WILL ANNUALLY SIGN A FORM AFFIRMING THAT THE INDIVIDUAL HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTOOD THE POLICY, AND HAS AGREED TO COMPLY WITH THE POLICY. COVERED MEMBERS HAVE THE DUTY TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, OR LACK THEREOF, TO THE BOARD OR COMMITTEE. AFTER DISCLOSURE OF THE POTENTIAL CONFLICT INCLUDING ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED INDIVIDUAL, HE/SHE WILL RECUSE THEMSELVES FROM THE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED, DETERMINED BY THE REMAINING BOARD OR COMMITTEE MEMBERS AND VOTED UPON. THE MINUTES OF BOARD OR COMMITTEE MEETINGS DOCUMENT THE NAMES OF THE INDIVIDUALS WITH THE POTENTIAL CONFLICT, MATERIAL FACTS, ACTIONS TAKEN TO DETERMINE IF A CONFLICT WAS PRESENT, THE BOARD OR COMMITTEE'S DECISION ON THE TRANSACTION, AND THE NAMES OF INDEPENDENT INDIVIDUALS PRESENT FOR THE DETERMINATION AND VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE PERFORMANCE REVIEW AND COMPENSATION PACKAGE FOR THE EXECUTIVE DIRECTOR IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD EITHER ON THE EMPLOYMENT ANNIVERSARY OR A CHANGE IN POSITION. COMPENSATION IS BASED ON A MARKET REVIEW AND IS CONSISTENT WITH THE STATE FAIR PAY SCALES. FOR OTHER STAFF, THE STATE FAIR HAS EMPLOYMENT CLASSIFICATION RANGES AND DOCUMENTATION OF REVIEW MEETINGS. WE ALSO REVIEW THE MCN SALARY SURVEY. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC EITHER IN PERSON AT THE FOUNDATION OFFICES OR THROUGH A LINK ON THE WEBSITE, WWW.MSFFOUNDATION.ORG. MINNESOTA STATE AGRICULTURAL SOCIETY 1265 SNELLING AVENUE NORTH ST PAUL MN 55108 411531915 PRODUCTION OF THE ANNUAL MINNESOTA STATE FAIR AND CARE OF FAIRGROUNDS MN 0 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 MINNESOTA STATE AGRICULTURAL SOCIETY B 1508036 FMV MINNESOTA STATE AGRICULTURAL SOCIETY O 168533 FMV