MINNESOTA STATE FAIR FOUNDATION (EIN 412013696) - 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

2001

Legal Domicile

Principal Officer

LITTON E S FIELD JR

Phone

6512884323

Tax Period

2024-11-01 to 2025-10-31

MINNESOTA STATE FAIR FOUNDATION, founded in 2001, is a community nonprofit in the Philanthropy & Grantmaking sector that reported $9.3M in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $6.7M, a strong 71% operating margin.

Mission

TO PRESERVE AND IMPROVE MN STATE FAIR BUILDINGS, THE FAIRGROUNDS, AND EDUCATIONAL PROGRAMS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $8,067,791

Program Service Revenue $0

Investment Income $723,746

Other Revenue $547,007

TOTAL REVENUE $9,338,544

Expense Breakdown

Grants Paid $1,508,086

Salaries & Benefits $731,477

Fundraising Expenses $590,959

Program Expenses $1,793,598

Other Expenses $427,609

TOTAL EXPENSES $2,667,172

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,338,544	$13,731,998	-0.3%
Expenses	$2,667,172	$3,129,131	-0.1%
Net Income	$6,671,372	$10,602,867	-0.4%

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

275

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

$152,709

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LITTON FIELD	CHAIR	1.00	Officer Director	$0	$0	$0
CATHY LAWRENCE	VICE CHAIR, DEVELOPMENT CHAIR	1.00	Officer Director	$0	$0	$0
RENEE ALEXANDER	SECRETARY	1.00	Officer Director	$0	$0	$0
ERIC BRITT	TREASURER	1.00	Officer Director	$0	$0	$0
JASON KOERTH	PAST CHAIR	1.00	Director	$0	$0	$0
DALE BACHMAN	DIRECTOR	1.00	Director	$0	$0	$0
NICOLE BEHNE	DIRECTOR	1.00	Director	$0	$0	$0
DANNY GRUNHOVD	DIRECTOR	1.00	Director	$0	$0	$0
DOUG HUEBSCH	DIRECTOR	1.00	Director	$0	$0	$0
PETE JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
TED JOHNSON	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA AMES	DIRECTOR	1.00	Director	$0	$0	$0
LIZ KRAMER	DIRECTOR	1.00	Director	$0	$0	$0
PEGGY LUCAS	DIRECTOR	1.00	Director	$0	$0	$0
TERRI MCENANEY	DIRECTOR	1.00	Director	$0	$0	$0
FRANK PARISI	DIRECTOR	1.00	Director	$0	$0	$0
JOHN REMES	DIRECTOR	1.00	Director	$0	$0	$0
BRAD RIBAR	DIRECTOR	1.00	Director	$0	$0	$0
KEN SANDVIK	DIRECTOR	1.00	Director	$0	$0	$0
DAN SHOGREN	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SORENSEN	DIRECTOR	1.00	Director	$0	$0	$0
FRANK SULLIVAN	DIRECTOR	1.00	Director	$0	$0	$0
LINDA TANK	DIRECTOR	1.00	Director	$0	$0	$0
DARRELL THOMPSON	DIRECTOR	1.00	Director	$0	$0	$0
KAYLA YANG-BEST	DIRECTOR	1.00	Director	$0	$0	$0
STEVE KOZIOLEK	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA LARSON	DIRECTOR	1.00	Director	$0	$0	$0
ANDREA MOKROS	DIRECTOR	1.00	Director	$0	$0	$0
CHARLIE NAUEN	DIRECTOR	1.00	Director	$0	$0	$0
DAVE RUSTAD	DIRECTOR	1.00	Director	$0	$0	$0
CHUCK TRYON	DIRECTOR	1.00	Director	$0	$0	$0
ALEXANDRIA SCHROEDER	DIRECTOR	1.00	Director	$0	$0	$0
MARY CHUNG	EXECUTIVE DIRECTOR	40.00	Officer	$0	$1,304	$152,709
SHANA ZAISER	DEVELOPMENT DIRECTOR	40.00	Highest	$100,826	$31,243	$132,069

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
2025	$9,338,544	$2,667,172	$24,912,640	$6,671,372
2024	$13,731,998	$3,129,131	$17,749,748	$10,602,867
2023	$3,605,633	$2,333,693	$6,560,863	$1,271,940
2022	$2,693,185	$1,992,212	$5,176,918	$700,973
2021	$2,790,131	$1,920,708	$4,967,598	$869,423
2020	$1,410,142	$1,718,374	$3,684,844	$-308,232
2019	$2,660,144	$1,972,256	$3,796,174	$687,888
2018	$2,649,529	$2,421,069	$2,939,520	$228,460

MINNESOTA STATE FAIR FOUNDATION