2014-01-28T10:41:26-06:00 2013-10-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2012-11-01 412013696 MINNESOTA STATE FAIR FOUNDATION MINN 6512884323 1265 SNELLING AVENUE NORTH ST PAUL MN 551083099 PATRICK BAILEY 6512884323 2014-01-21 1 JENNIFER TINGLEY P01485570 6123764500 2012 2015-11-30 17:44:51Z KAY CADY 1265 SNELLING AVENUE NORTH ST PAUL MN 551083099 1132975 0 X WWW.MSFFOUNDATION.ORG X 2001 MN TO PRESERVE, IMPROVE & SUPPORT THE HISTORIC MINNESOTA STATE FAIR. 19 19 7 305 0 0 1002797 869790 0 0 4193 4747 156343 152230 1163333 1026767 979867 518766 0 0 400104 421879 0 2135 209787 192381 170200 1572352 1112980 -409019 -86213 1534296 1370382 149497 53001 1384799 1317381 X THE MINNESOTA STATE FAIR FOUNDATION MISSION IS TO PRESERVE AND IMPROVE THE HISTORIC MINNESOTA STATE FAIRGROUNDS AND SUPPORT STATE FAIR AGRICULTURAL, SCIENTIFIC, AND EDUCATIONAL EXPERIENCES. 0 0 709504 518766 0 IN 2013, THE MINNESOTA STATE FAIR FOUNDATION GRANTED $535,680 (INCLUDING $16,914 FOR DONATED SERVICES AND $67,425 NON-CASH CONTRIBUTIONS) TO THE MINNESOTA STATE FAIR FOR CAPITAL AND PROGRAM IMPROVEMENTS. CASH GRANTS INCLUDED SUPPORT FOR COMPLETION OF AGSTAR ARENA. FUNDS ALSO SUPPORTED A NEW PERFORMING ARTS PROGRAM CALLED ARTS A'FAIR, VOCABULARY-BUILDING ACTIVITIES IN BALDWIN PARK, HISTORY PROGRAMS, AND THE GIANT SING-ALONG PUBLIC ART INSTALLATION. IN-KIND DONATIONS SUPPORTED THE HISTORIC WALKING TOUR ON THE FAIRGROUNDS, DIRT REMOVAL AND INSTALLATION SERVICES FOR THE LEE AND ROSE WARNER COLISEUM, AND SEATING, TREES AND VINES. OVERALL, GRANTS ARE ALIGNED WITH THESE STATE FAIR PROGRAM AREAS: AGRICULTURE, ART, ENVIRONMENT, HISTORY AND HERITAGE, AND EDUCATION. THE FOUNDATION ALSO RETAINED ASSETS FOR FUTURE GRANTS, AND CONTINUED TO BUILD ENDOWMENT FUNDS. THE FOUNDATION'S OPERATING EXPENSES ARE FUNDED THROUGH CONTRIBUTIONS, EARNED INCOME AND SUPPORT FROM THE STATE FAIR. 709504 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 9 0 7 1 0 0 0 0 0 0 0 0 0 0 X 19 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MN X JENNINE DUDA 6512884323 1265 SNELLING AVENUE NORTH ST PAUL MN 551083099 PATRICK BAILEY 3.00 X X 0 0 0 MITCH DAVIS 1.00 X X 0 0 0 JERRY HAMMER 2.00 X X 0 0 0 DAVID SORENSEN 3.00 X X 0 0 0 SANDY CRAIGHEAD 1.00 X 0 0 0 STEVE EILERTSON 1.00 X 0 0 0 JOHN FABIE 1.00 X 0 0 0 JIM FOSS 1.00 X 0 0 0 TERRY GILBERSTADT 2.00 X 0 0 0 BERT GREENER 1.00 X 0 0 0 ROBYN HANSEN 0.50 X 0 0 0 JEFF HAWKINS 1.00 X 0 0 0 JOHN KEENAN 1.00 X 0 0 0 GINNY HUBBARD MORRIS 1.00 X 0 0 0 FRANK PARISI 3.00 X 0 0 0 STEVE POPPEN 0.50 X 0 0 0 BRAD RIBAR 1.00 X 0 0 0 CINDIE SMART 1.00 X 0 0 0 JIM SMART 1.00 X 0 0 0 PATTY SMITH 1.00 X 0 0 0 JIM WINTER 1.00 X 0 0 0 KAY CADY 40.00 X 156314 0 23162 156314 0 23162 1 0 1 0 0 63425 806365 101449 869790 4747 4747 40384 63425 46493 -6109 -6109 217979 59715 158264 158264 MISCELLANEOUS INCOME 561000 75 75 75 1026767 0 0 156977 518766 518766 188950 94476 37789 56685 168017 50806 50205 67006 8617 2600 2578 3439 34847 9768 14266 10813 21448 8579 5362 7507 34839 34839 2135 2135 6815 6815 125 125 39004 4820 17492 16692 5034 1960 1359 1715 3616 3181 273 162 2395 2395 1322 1227 95 3415 1366 854 1195 3954 362 2182 1410 MATERIALS 38513 419 766 37328 CREDIT CARD FEES/BANK C 8643 8643 SALES TAXES 8584 8584 FOOD 5085 32 3337 1716 8856 2558 4314 1984 1112980 709504 193689 209787 135660 117274 917604 994549 385717 80144 1834 0 3650 5335 6024 4321 7329 5453 5291 1876 78516 166883 1534296 1370382 26553 34732 122944 18269 149497 53001 X 303922 421544 936298 734078 144579 161759 1384799 1317381 1534296 1370382 -86213 18795 0 X 0 1 X 1 0 X 1046046 626483 1721863 1002797 869789 5266978 1046046 626483 1721863 1002797 869789 5266978 756808 4510170 14131 3218 5805 4193 4747 32094 4043 75 4118 5303190 1374239 0.85050 0.83780 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2010 AMOUNT: $ 4,043. 2012 AMOUNT: $ 75. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 78516 66771 21596 166883 18599 54200 5717 78516 18500 99 18599 0.01970 0.82080 0.15960 0 0 7329 5453 1876 1876 PAYABLES DUE TO THE MINNESOTA STATE AGRICULTURAL SOCIETY 18269 18269 X 1099298 18795 45494 8242 72531 1026767 0 1026767 1166716 45494 8242 53736 1112980 0 1112980 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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. THE TAX RETURNS FOR THE YEARS 2010 TO 2012 ARE OPEN TO EXAMINATION BY FEDERAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES IN EXCESS OF DIRECT BENEFIT 8,242. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES IN EXCESS OF DIRECT BENEFIT 8,242. TASTE OF THE FAIR 103809 63425 40384 23554 4710 1900 16329 103809 63425 40384 23554 4710 1900 16329 46493 -6109 1 MINNESOTA STATE AGRICULTURAL SOCIETY 1265 SNELLING AVENUE NORTH ST PAUL MN 55108 411531915 N/A 451341 67425 FMV PROGRAM DEVELOPMENT, LANDSCAPING, FOOD FOR EVENT IMPROVEMENTS & PROGRAMMING AT/FOR THE FAIR GROUNDS. 1 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE FOUNDATION REQUIRES DOCUMENTATION OF ESTIMATED COSTS AND FINAL EXPENDITURES FROM THE GRANTEE. X X 0 0 0 0 0 0 0 0 0 KAY CADY 156314 0 0 0 0 0 8170 0 14992 0 179476 0 0 0 X AUCTION ITEMS 107 23554 FMV X POSTER/PRINTS 1 5346 FMV X TREES/VINES 2 3225 FMV X GRAVEL AND GRADING 1 20000 FMV X OFFICE FURNITURE 1 37000 FMV X STREET LIGHT 1 7200 FMV X FOOD AND BEVERAGE 4 5124 FMV 0 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE FOUNDATION'S EXECUTIVE COMMITTEE IS COMPRISED OF THE OFFICERS OF THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 2 JIM SMART AND CINDIE SMART - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY EXECUTIVE LEADERSHIP AND THE AUDIT COMMITTEE. FOLLOWING THIS REVIEW, THE FORM 990 IS PROVIDED TO THE FULL GOVERNING BOARD PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE FOUNDATION'S CONFLICT OF INTEREST POLICY COVERS BOARD MEMBERS, BOARD COMMITTEE MEMBERS, STAFF MEMBERS, AND FAMILY MEMBERS OF THE AFOREMENTIONED. 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 15A THE PERFORMANCE REVIEW AND COMPENSATION PACKAGE FOR THE EXECUTIVE DIRECTOR IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD. COMPENSATION IS BASED ON A MARKET REVIEW AND IS CONSISTENT WITH STATE FAIR PAY SCALES. THE LAST REVIEW PROCESS FOR EXECUTIVE DIRECTOR, K. CADY WAS UNDERTAKEN DURING 2013. FORM 990, PART VI, SECTION C, LINE 19 THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.