Minnesota Farm Bureau Federation (EIN 410417230) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1919

Legal Domicile

Principal Officer

Karin Schaefer

Phone

6519052100

Tax Period

2023-10-01 to 2024-09-30

Minnesota Farm Bureau Federation, founded in 1919, is a community nonprofit that reported $4.4M in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. The organization ran a surplus of $704K, a strong 16% operating margin.

Mission

We operate for outreach and educational purposes for the well-being of Minnesota Agriculture.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $105,727

Program Service Revenue $1,764,948

Investment Income $322,814

Other Revenue $2,245,044

TOTAL REVENUE $4,438,533

Expense Breakdown

Grants Paid $53,360

Salaries & Benefits $2,013,195

Fundraising Expenses $0

Other Expenses $1,668,173

TOTAL EXPENSES $3,734,728

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,438,533	$3,400,958	+0.3%
Expenses	$3,734,728	$3,454,572	+0.1%
Net Income	$703,805	$-53,614	-14.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

130

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$445,521

Total Directors

$106,150

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dan Glessing	President	20.00	Officer Director	$59,540	$0	$59,540
Carolyn Olson	Vice-President	2.00	Officer Director	$13,800	$0	$13,800
Jeff Pagel	Director	2.00	Director	$3,450	$0	$3,450
Robert Roelofs	Director	2.00	Director	$4,200	$0	$4,200
Peter Bakken	Director	2.00	Director	$6,110	$0	$6,110
Nathan Collins	Director	2.00	Director	$4,050	$0	$4,050
Fran Miron	Director	2.00	Director	$4,950	$0	$4,950
Miles Kuschel	Director	2.00	Director	$7,200	$0	$7,200
Shayne Isane	Director	2.00	Director	$2,850	$0	$2,850
Jessica Bester	Young Farmers and Ranchers Chair	2.00	Director	$0	$0	$0
Steve Schoenfeld	Promotion and Education Chair	2.00	Director	$0	$0	$0
David Johnson	Director of Operations/Treasurer	36.00	Officer	$149,263	$34,970	$184,233
Karin Schaefer	Executive Director/Secretary	36.00	Officer	$151,377	$36,571	$187,948

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$4,438,533	$3,734,728	$7,083,677	$703,805
2023	$3,400,958	$3,454,572	$5,768,055	$-53,614
2022	$3,196,620	$3,149,720	$4,970,686	$46,900
2021	$4,797,144	$3,136,384	$5,972,821	$1,660,760
2020	$3,103,908	$3,221,010	$4,971,368	$-117,102
2019	$3,381,126	$3,343,089	$5,039,772	$38,037
2018	$3,336,723	$3,185,915	$5,158,128	$150,808

Minnesota Farm Bureau Federation