Dakota County Agricultural Society
- Assets
- $3.1m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 213
- Location
- Farmington, MN
- Founding
- 03/2017
- Data as of
- 09/2022
- EIN
- 41-0997724
Organization Overview
Dakota County Agricultural Society is located in Farmington, MN. The organization was established in 2017. According to its NTEE Classification (K03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 09/2023, Dakota County Agricultural Society employed 213 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dakota County Agricultural Society is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Dakota County Agricultural Society generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $1.2m during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER EDUCATION, ENTERTAINMENT, INFORMATION AND ACHIEVEMENT FOR PEOPLE OF ALL AGES IN AGRICULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
DAKOTA COUNTY FAIR - THE ANNUAL FAIR PROVIDES ENTERTAINMENT, INFORMATIONAL & EDUCATIONAL PROGRAMS IN THE AGRICULTURAL BUSINESS PRESENTED BY EXHIBITORS. THOUSANDS OF AREA RESIDENTS VISIT THE FAIR ANNUALLY.
DAKOTA CITY HERITAGE VILLAGE - THE ORGANIZATION OWNS & MAINTAINS PROPERTY AND EQUIPMENT OF HISTORICAL NATURE USED BY THE VILLAGE TO PRESERVE DAKOTA COUNTY ARTIFACTS FROM THE PAST FOR CURRENT AND FUTURE AREA RESIDENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashlyn Otto Secretary | Officer | 2 | $2,745 |
Pete Storlie President | Officer | 2 | $2,745 |
Marjory Snyder Director | Trustee | 2 | $2,635 |
Melanie Storlie Director | Trustee | 2 | $2,305 |
Ariana Sorem Director | Trustee | 2 | $2,175 |
Ed Barrett Director | Trustee | 2 | $2,045 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $441,117 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,600 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $443,717 |
| Total Program Service Revenue | $948,669 |
| Investment income | $536 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $105,667 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,501,789 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $18,966 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $269,105 |
| Pension plan accruals and contributions | $9,186 |
| Other employee benefits | $0 |
| Payroll taxes | $20,106 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,313 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $36,973 |
| Office expenses | $612 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $105,900 |
| Travel | $672 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $113 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $74,667 |
| Insurance | $63,434 |
| All other expenses | $189,978 |
| Total functional expenses | $1,155,671 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,058,752 |
| Savings and temporary cash investments | $5,103 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $13,235 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,958,043 |
| Investments—publicly traded securities | $60,973 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,096,106 |
| Accounts payable and accrued expenses | $22,317 |
| Grants payable | $0 |
| Deferred revenue | $14,523 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $10,322 |
| Other liabilities | $6,000 |
| Total liabilities | $53,162 |
| Net assets without donor restrictions | $3,042,944 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,096,106 |