Agricultural Utilization Research Institute

“The form 990 is electronically sent to the board of directors for review and is then discussed and approved at a board meeting prior to filing.”

“Board members are required to sign a conflict of interest agreement upon being seated on the auri board of directors and it is reviewed and signed-off upon annually, thereafter. Auri requires board members to disclose any actual or perceived conflicts of interest with auri.”

“The auri board of directors conducts an annual evaluation/review of the executive director's performance. The board of directors decides upon and approves the compensation of the executive director with input from auri's human resources department. The auri human resources department looks at comparable data to substantiate the compensation, along with input from an independent company. The salaries, wages and benefits of all auri employees are included in the annual budget, which is reviewed and approved by the executive director and board of directors annually. All compensation of auri employees is reviewed by its human resources department and an independent party prior to hire and reviewed annually, thereafter.”

“Governing documents and conflict of interest policies are available upon request to the executive director. Financial statements are made publicly available at all board meetings and upon request to the executive director.”

“Mr. Kenneth asp represents mn wheat research & promotional council. Mr. Ron obermoller represents minnesota soybean processors. Mr. John schafer represents mn beef council. Mr. Jerry hasnedl represents minnesota farmer's union. Mn wheat, mn soybean, mn beef, and mn farmer's union are collaborators on some of auri's projects. Shannon schlecht and jimmy gosse, employees of auri, serve as board members for the ag innovation campus which is to be built and operated by the minnesota soybean growers, who collaborate on some projects with auri. Mr. Jon veldhouse represents an agri-business seat on the board of directors and works for cargill. Cargill has been a partner on auri projects. Mr. Jeff grev represents an agri-business seat on the board of directors and works for hormel. Hormel has been a partner and participant on auri projects.”

“In april 2020, the auri received $483,700 from the u.s. Small business administration (sba) through the paycheck protection program (ppp), established as part of the coronavirus aid, relief and economic security act ("cares act"). The sba loan was through a local bank. In november 2020, the auri submitted a ppp loan forgiveness application, which was approved by the lender and sba. As a result, $483,700 was forgiven and recognized as gain on forgiveness on long-term debt in fiscal year ended june 30, 2021.”

“In fiscal year 2021, auri engaged in a contract with fox advancement to determine the feasibility of conducting a capital and fundraising campaign. Auri paid fox advancement $16,600 in fiscal year 2021 to conduct its study. No further action to-date has taken place to initiate a fundraising or capital campaign. The payments to fox advancement to conduct the study were recognized on the financial statement as fundraising expenses.”