Steele County Agricultural Society

Analysis

Steele County Agricultural Society is a registered charity in United States, based in Owatonna, MN. It received its IRS tax-exemption ruling in January 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Steele County Agricultural Society reported income of $1.9m and spending of $1.8m, spending 93% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.4m to $1.9m (+31%), an average of +6.9% a year. The sharpest change came in the year to September 2021, when income rose by 530%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Steele County Agricultural Society sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MN. Charities of a similar size with the same main cause include Nativity Academy at St Boniface Inc ($1.9m), Byrneville Elementary School Inc ($1.9m) and Ohio Community Action Training Organization ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 7.3% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $90k (5.1% of expenses). Other salaries and wages came to $201k. At year end it held assets of $2.9m against liabilities of $203k, net assets of $2.7m. It reported 41 employees.