Philanthropy & Grantmaking (T22) IRS Verified DX Registered 990 on File

MINNESOTA STATE FAIR FOUNDATION

EIN: 41-2013696 · SAINT PAUL, MN 55108-3099 · United States · FY 2025 Data

3 out of 5 48 / 100 Based on 2+ years of filings

Financial strength (30%) 59/100

Reliability (20%) 55/100

Effectiveness (25%) 75/100

Impact (25%) No data yet

Financial data: FY 2025 · Scored 9/13/2026

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Mission Statement

The Minnesota State Fair Foundation was created to preserve and improve the historic Minnesota State Fairgrounds and support State Fair agricultural, scientific and educational programs.

Financial Overview — FY 2025

$9.3M

Total Revenue

$2.7M

Total Expenses

$24.8M

Net Assets

Employees

Revenue Sources

Expense Breakdown

Program Expense Ratio 67.3%

Fundraising Efficiency 490.1%

Operating Reserve 111.40x

Liability-to-Asset 0.6%

Revenue Diversification 86.4%

Executive Compensation $145K

Compared with Peers

FY 2025

Compared with 2,423 similar organizations (United States, Philanthropy & Grantmaking, $1M–$10M in expenses), FY 2025.

This organization Middle half of peers (P25–P75) Peer median

Ratio	This org	Peer median	Position (P10 → P90)
Program expense ratio Program expenses / total expenses · higher is better	67.3%	91.3%	P10P90	Bottom quarter
Admin expense ratio Management and general / total expenses · lower is better	10.6%	8.2%	P10P90	Below median
Fundraising expense ratio Fundraising expenses / total expenses · lower is better	22.2%	2.6%	P10P90	Bottom quarter
Fundraising efficiency Fundraising expenses / gross fundraising income · lower is better	490.1%	156.1%	P10P90	Below median
Operating reserve Months of expenses covered by net assets · higher is better	111.4 mo	65.7 mo	P10P90	Above median
Liabilities to assets Total liabilities / total assets · lower is better	0.6%	0.0%	P10P90	Below median
Revenue concentration Share of revenue from the largest source · lower is better	86.4%	90.4%	P10P90	Above median
Revenue growth Year over year revenue growth	-32.0%	9.0%	P10P90
Expense growth Year over year expense growth	-14.8%	9.3%	P10P90
Surplus margin Surplus as a share of revenue	71.4%	3.0%	P10P90

Financial History

Year	Revenue	Expenses	Net Assets	Program %	Staff
2025	$9.3M	$2.7M	$24.8M	67.3%	24
2024	$13.7M	$3.1M	$17.6M	73.0%	23
2023	$3.6M	$2.3M	$6.4M	63.7%	25
2022	$2.7M	$2.0M	$5.1M	62.3%	25
2021	$2.8M	$1.9M	N/A	—	8

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Organization Details

EIN: 41-2013696
State: MN
City: SAINT PAUL
ZIP: 55108-3099
Classification: T22
Category: Philanthropy & Grantmaking
Rating: 3★
Coverage: A
Last Updated: Aug 2026
IRS Ruling Year: 2002
Foundation Code: 15
Form 990: On File

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CharityAI™ rates charities from 0 to 100 using public filings (IRS Form 990 and the equivalent registries outside the US) together with the information the charity itself provides on DonationX. Ratings are recalculated every quarter, without human bias, and shown as stars.

Four pillars

Financial strength30%

Program expense ratio, fundraising efficiency, operating reserves, liabilities and revenue diversification, compared with similar organizations.

Reliability20%

Standing with the registry, filing history, verification and how complete the profile is.

Effectiveness25%

How much goes to programs and how consistently the organization delivers them.

Impact25%

The outcomes the charity reports on DonationX: people served, cost per service and results.

Stars

★★★★★ 80–100 ★★★★☆ 60–79 ★★★☆☆ 40–59 ★★☆☆☆ 20–39 ★☆☆☆☆ 1–19

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The coverage grade (A to D) says how much filing data the score rests on; NONE means there is not enough to rate.
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