Civic Intelligence

Minnesota Section Institute of Food Technologists

990 • Fiscal year 2015 • EIN 41-6045207

Jul 01, 2014 to Jun 30, 2015 • Filed on Oct 14, 2015

Organization ProfileWWW.MNIFT.ORG
9000 Plymouth Ave NMinneapolis, MN 55427

(763) 764-8431

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

25th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

25th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Net Margin

66th percentile

10%

Higher net margin than 66% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2015

Asset Growth

53rd percentile

1.9%

Faster asset growth than 53% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

34th percentile

-4.1%

Faster revenue growth than 34% of similar nonprofits.

2015 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$639,373

Up $11,944 (+1.9%) from 2014

Net Assets

Up

$639,373

Up $11,944 (+1.9%) from 2014

Liabilities

Flat

$0

Flat from 2014

Revenue And Expenses
Liabilities / Revenue25th percentileNet Margin66th percentile

Revenue

Down

$117,098

Down $5,040 (-4.1%) from 2014

Expenses

Up

$105,154

Up $12,148 (+13%) from 2014

Net Income

Down

$11,944

Down $17,188 (-59%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.0M$500K$0Assets 2011: $606,573Liabilities 2011: $0Net Assets 2011: $606,5732011Assets 2012: $648,471Liabilities 2012: $0Net Assets 2012: $648,4712012Assets 2013: $614,530Liabilities 2013: $0Net Assets 2013: $614,5302013Assets 2014: $627,429Liabilities 2014: $0Net Assets 2014: $627,4292014Assets 2015: $639,373Liabilities 2015: $0Net Assets 2015: $639,3732015Assets 2016: $677,617Liabilities 2016: $0Net Assets 2016: $677,6172016Assets 2017: $710,181Liabilities 2017: $0Net Assets 2017: $710,1812017Assets 2018: $760,716Liabilities 2018: $0Net Assets 2018: $760,7162018Assets 2019: $766,938Liabilities 2019: $0Net Assets 2019: $766,9382019Assets 2020: $775,543Liabilities 2020: $0Net Assets 2020: $775,5432020Assets 2021: $820,844Liabilities 2021: $0Net Assets 2021: $820,8442021Assets 2022: $874,534Liabilities 2022: $0Net Assets 2022: $874,5342022Assets 2023: $922,502Liabilities 2023: $0Net Assets 2023: $922,5022023Assets 2024: $923,073Liabilities 2024: $0Net Assets 2024: $923,0732024Assets 2025: $939,040Liabilities 2025: $0Net Assets 2025: $939,0402025

Highlighted filing

2015

Assets$639,373
Liabilities$0
Net Assets$639,373
Open 2015 Filing

Operations Trend

Revenue Growth34th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200K$150K$100K$50K$0Revenue 2011: $111,516Expenses 2011: $87,080Net Income 2011: $24,4362011Revenue 2012: $135,969Expenses 2012: $120,109Net Income 2012: $15,8602012Revenue 2013: $119,459Expenses 2013: $99,897Net Income 2013: $19,5622013Revenue 2014: $122,138Expenses 2014: $93,006Net Income 2014: $29,1322014Revenue 2015: $117,098Expenses 2015: $105,154Net Income 2015: $11,9442015Revenue 2016: $123,590Expenses 2016: $85,346Net Income 2016: $38,2442016Revenue 2017: $123,274Expenses 2017: $90,710Net Income 2017: $32,5642017Revenue 2018: $163,233Expenses 2018: $112,698Net Income 2018: $50,5352018Revenue 2019: $133,470Expenses 2019: $127,248Net Income 2019: $6,2222019Revenue 2020: $81,176Expenses 2020: $72,570Net Income 2020: $8,6062020Revenue 2021: $63,514Expenses 2021: $18,213Net Income 2021: $45,3012021Revenue 2022: $114,580Expenses 2022: $60,890Net Income 2022: $53,6902022Revenue 2023: $129,517Expenses 2023: $81,549Net Income 2023: $47,9682023Revenue 2024: $88,668Expenses 2024: $88,097Net Income 2024: $5712024Revenue 2025: $111,522Expenses 2025: $95,555Net Income 2025: $15,9672025

Highlighted filing

2015

Revenue$117,098
Expenses$105,154
Net Income$11,944
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Oct 14, 2015
Return Version
2014v5.0
Gross Receipts
$153,845
Mission and Program Overview

Mission

The minnesota section of the institute of food technologists (ift) is open to anyone who is interested in food science, food technology, and the food industry in this geographical region. The section also provides support to the great plains subsection, which includes members living in eastern south dakota and southern minnesota.

The minnesota section of the institute of food technologists (ift) is open to anyone who is interested in food science, food technology, and the food industry in this geographical region. The section also provides support to the great plains subsection, which includes members living in eastern south dakota and southern minnesota. Our current membership is approximately 880.activities include: dinner meetings with guest speakers related to food science, providing annual scholarships to undergraduate and graduate students, and fundraisers including a silent auction and supplier's expo.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$597,733$585,687▼ $12,046
Savings and Temporary Cash Investments$8,834$33,660▲ $24,826
Cash and Non-Interest-Bearing Accounts$20,862$20,026▼ $836
Total Assets$627,429$639,373▲ $11,944
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$627,429$639,373▲ $11,944
Total Net Assets Fund Balance$627,429$639,373▲ $11,944
Total Liabilities and Net Assets / Fund Balance$627,429$639,373▲ $11,944

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$585,687--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Sharon HerzogChair/designate
Lin WeiGreat Plains Subsection Chair Elect
Cherie JonesPast Chair/chairs Award
Gary ReinecciusSection Chair/programming
Dan KennedyAdministration & Documenta
Dr K MuthukumarappaGreat Plains Subsection Ch
Brad WrightMembership Secretary
Beth Ann NylanderSection Representatives
Laurie SteedSection Representatives
Sarah FaheySection Representatives
Dr Fernando SampedroSection Representatives/fo
Rachel PrososkiSection Representatives/go
Dr Craig SherwinSection Representatives/ne
Revenue and Support

Revenue Composition

Contributions and Grants
$7,135
Program Service Revenue
$11,330
Investment Income
$23,272
Other Revenue
$75,361
Change in Net Assets
$11,944
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$89,270
Grants and Similar Amounts Paid$15,884
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$15,884--$15,884
Other Expenses$10,493--$10,493
Fees for Services Accounting-$2,365-$2,365
Office Expenses-$2,042-$2,042
All Other Expenses$1,780--$1,780
Advertising$1,435--$1,435
Travel$560--$560
Payments to Affiliates$500--$500
Total Functional Expenses$100,747$4,407$0$105,154
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$112,108
Fundraising Direct Expenses$36,747
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Suppliers Expo$105,610$105,610$36,747$68,863
General Fundraising$6,498$6,498-$6,498
Total Events$112,108$112,108$36,747$75,361
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 10B

“The minnesota section institue of food technologists (ift) provides support to the great plains subsection, which includes members living in eastern south dakota and southern minnesota but does not govern the activities of the subsection.”

Form 990, Part VI, Section B, Line 11

“The form 990 is reviewed by the finance committe at the first meeting after the 990 has been prepared by an independent certified public accountant. This may or may not bee prior to the form 990 being filed.”

Form 990, Part VI, Section C, Line 19

“Governing documents and fiancial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Minnesota Section Institute of Food Technologists
EIN
41-6045207
Phone
7637648431
Address
9000 PLYMOUTH AVE N, MINNEAPOLIS, MN 55427

Signing Officer

Name
Corinne Egan
Title
Finance Committee Chair
Phone
7637648431
Signed
2015-10-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Corinne Egan
Formed
1957
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
46

Preparer

Firm
Boeckermann Grafstrom & Mayer LLC
Address
4470 W 78TH ST CIRCLE STE 200, BLOOMINGTON, MN 55435-5416
Preparer
Roben D Hunter
Phone
9528442500
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0OTHER PROGRAM SERVICES PROVIDED IN ORDER TO CARRY OUT MINNESOTA SECTION INSTITUTE OF FOOD TECHNOLOGISTS' TAX EXEMPT PURPOSE, INCLUDING TRAVEL, STUDENT COMPETITIONS, NEWSLETTER PRINTING AND MAILING, AND LONG RANGE PLANNING.
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IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0GENERAL FUNDRAISING
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IRS990ScheduleI/GrantRecordsMaintainedInd00
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt23034
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0MNACS AWARD WINNERS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1GRADUATE AND UNDERGRADUATE SCHOLARSHIPS AND GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2MACY AWARD
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt04
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt116
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt21
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MINNESOTA SECTION INSTITUE OF FOOD TECHNOLOGISTS (IFT) PROVIDES SUPPORT TO THE GREAT PLAINS SUBSECTION, WHICH INCLUDES MEMBERS LIVING IN EASTERN SOUTH DAKOTA AND SOUTHERN MINNESOTA BUT DOES NOT GOVERN THE ACTIVITIES OF THE SUBSECTION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE FINANCE COMMITTE AT THE FIRST MEETING AFTER THE 990 HAS BEEN PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT. THIS MAY OR MAY NOT BEE PRIOR TO THE FORM 990 BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS AND FIANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 10B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/TerminateOperationsInd00
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IRS990/USAddress/AddressLine1Txt09000 PLYMOUTH AVE N
IRS990/USAddress/CityNm0MINNEAPOLIS

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$639,373
Liabilities
$0
Net assets
$639,373
Revenue
$117,098
Expenses
$105,154
Net income
$11,944
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.39$0.00$9.39$1.12$0.96$0.16
2024Summary only. Only limited summary data is available for this year.$9.23$0.00$9.23$0.89$0.88$0.01
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.23$0.00$9.23$1.30$0.82$0.48
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.75$0.00$8.75$1.15$0.61$0.54
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.21$0.00$8.21$0.64$0.18$0.45
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.76$0.00$7.76$0.81$0.73$0.09
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.67$0.00$7.67$1.33$1.27$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.61$0.00$7.61$1.63$1.13$0.51
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.10$0.00$7.10$1.23$0.91$0.33
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.78$0.00$6.78$1.24$0.85$0.38
2015Detailed filing. Detailed filing data is available for this year.$6.39$0.00$6.39$1.17$1.05$0.12
2014Summary only. Only limited summary data is available for this year.$6.27$0.00$6.27$1.22$0.93$0.29
2013Summary only. Only limited summary data is available for this year.$6.15$0.00$6.15$1.19$1.00$0.20
2012Summary only. Only limited summary data is available for this year.$6.48$0.00$6.48$1.36$1.20$0.16
2011Summary only. Only limited summary data is available for this year.$6.07$0.00$6.07$1.12$0.87$0.24