Advertising Federation Of Minnesota Inc
- Assets
- $161.0k
- Revenue
- $209.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 04/1984
- Data as of
- 06/2022
- EIN
- 41-1302399
Organization Overview
Advertising Federation Of Minnesota Inc is located in Minneapolis, MN. The organization was established in 1984. According to its NTEE Classification (S03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Advertising Federation Of Minnesota Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2022, Advertising Federation Of Minnesota Inc generated $209.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.1%) each year. All expenses for the organization totaled $191.8k during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (6.3%) per year over the past 6 years. 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
THE MISSION OF THE ORGANIZATION IS TO ENCOURAGE THE PROFESSIONAL GROWTH AND DEVELOPMENT OF THE MEMBERS TO ENCOURAGE HIGH STANDARDS OF ADVERTISING PRACTICES TO REPRESENT THE ADVERTISING INDUSTRY IN WORKING WITH GOVERNMENTS AT THE FEDERAL, STATE AND LOCAL LEVELS IN AREAS OF MUTUAL CONCERN AND INTEREST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PRODUCED THE SHOW, OUR ANNUAL ADVERTISING COMPETITION WITH A RECORD NUMBER OF AGENCIES PARTICIPATING - MORE THAN 90+ AND HAD 888 ADS SUBMITTED. THE MAIN EVENT WAS HOSTED IN MARCH WITH MORE THAN 720 IN VIRTUAL ATTENDENCE.
HOSTED SEVERAL PREMIERE EVENTS: WOMEN'S LEADERSHIP PANEL -250+ VIRTUAL ATTENDANCE; 32 UNDER 32 -450+ VIRTUAL ATTENDANCE; STUDENT AD SUMMIT-242 VIRTUAL ATTENDENCE.
SERVED OVER 150 MEMBERS PLUS THOSE IN THE ADVERTISING INDUSTRY AND DEVELOPMENT AND NETWORKING OPPORTUNITIES. THIS IS THROUGH QUARTERLY PROGRAM, SPRING AND FALL AGENCY TOURS. THREE PREMIERE EVENTS, HOSTING THE SHOW, SEVERAL SOCIAL EVENTS AND PUBLIC SERVICE ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Megan Fayrkosh Project Manager | Trustee | 1 | $0 |
Justin Mueller Technology Chair | Trustee | 1 | $0 |
Sarah Kemp Communications | Trustee | 1 | $0 |
Nathan Liu Social Media | Trustee | 1 | $0 |
Morgan Walsh Programs | Trustee | 1 | $0 |
Hana April Chughtai Programs | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $12,603 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,276 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,879 |
| Total Program Service Revenue | $183,987 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $209,866 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,250 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,287 |
| Advertising and promotion | $996 |
| Office expenses | $66,896 |
| Information technology | $1,037 |
| Royalties | $0 |
| Occupancy | $11,425 |
| Travel | $5,744 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $65,177 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $927 |
| All other expenses | $0 |
| Total functional expenses | $191,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $159,253 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,750 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $161,003 |
| Accounts payable and accrued expenses | $11,387 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,387 |
| Net assets without donor restrictions | $0 |
| 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 | $149,616 |
| Total liabilities and net assets/fund balances | $161,003 |