Civic Intelligence

Minnesota Section Institute of Food Technologists

990 • Fiscal year 2021 • EIN 41-6045207

Jul 01, 2020 to Jun 30, 2021 • Filed on Jan 21, 2022

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

29th percentile

0.00x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

29th percentile

0.00x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

94th percentile

71%

Higher net margin than 94% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

52nd percentile

$0

Higher top officer pay than 52% of similar nonprofits.

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

43rd percentile

5.8%

Faster asset growth than 43% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

15th percentile

-22%

Faster revenue growth than 15% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets29th percentile

Assets

Up

$820,844

Up $45,301 (+5.8%) from 2020

Net Assets

Up

$820,844

Up $45,301 (+5.8%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin94th percentile

Revenue

Down

$63,514

Down $17,662 (-22%) from 2020

Expenses

Down

$18,213

Down $54,357 (-75%) from 2020

Net Income

Up

$45,301

Up $36,695 (+426%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth43rd 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

2021

Assets$820,844
Liabilities$0
Net Assets$820,844
Open 2021 Filing

Operations Trend

Revenue Growth15th 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

2021

Revenue$63,514
Expenses$18,213
Net Income$45,301
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Jan 21, 2022
Return Version
2020v4.1
Gross Receipts
$74,919
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 514.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$739,871$702,254▼ $37,617
Savings and Temporary Cash Investments$13,200$96,904▲ $83,704
Cash and Non-Interest-Bearing Accounts$22,472$21,686▼ $786
Total Assets$775,543$820,844▲ $45,301
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$775,543$820,844▲ $45,301
Total Net Assets Fund Balance$775,543$820,844▲ $45,301
Total Liabilities and Net Assets / Fund Balance$775,543$820,844▲ $45,301

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$702,254--
Compensation and Service Providers
Top Officer Pay52nd percentile

Board Members and Trustees

NameTitle
Kirsten RuudFinance Chair
George AnnorPresident
Emily GrisbeckPresident-elect
Corinne EganDirector at Large
Dana DronenDirector at Large
Jiajia RaoDirector at Large
Joanie ZhangDirector at Large
Prandabendu MitraDirector at Large
Sharon HerzogDirector at Large
Misen LuuAssistant Treasurer
Tess TierneySecretary
Beth Ann NylanderTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,875
Program Service Revenue
$1,275
Investment Income
$46,487
Other Revenue
$9,877
Change in Net Assets
$45,301
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$17,630
Grants and Similar Amounts Paid$583
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting-$6,008-$6,008
Grants to Domestic Individuals$583--$583
Advertising$532--$532
Insurance-$215-$215
Other Expenses$149$200-$149
Total Functional Expenses$1,779$16,434$0$18,213
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$21,282
Fundraising Direct Expenses$11,405
Professional Fundraising Fees$0
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 35% controlled entity
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 11B

“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
EIN
41-6045207
Phone
7637648431
Address
9000 PLYMOUTH AVE N, MINNEAPOLIS, MN 55427

Signing Officer

Name
Emily Grisbeck
Title
President
Phone
7637648431
Signed
2022-01-21
Discuss with paid preparer
Yes

Organization Details

Formed
1957
Legal Domicile
Mn
Voting Board Members
12
Independent Board Members
12
Employees
0
Volunteers
70

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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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt031405
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0113244
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt046087
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt023361
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt019609
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt019860
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt022531
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0131448
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt022357
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt087613
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0124252
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0155438
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0121828
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0511488
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt046087
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt023361
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt019609
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt019860
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt022531
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0131448
IRS990ScheduleA/InvestmentIncomeCYPct00.17380
IRS990ScheduleA/InvestmentIncomePYPct00.12920
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.82620
IRS990ScheduleA/PublicSupportPY509Pct00.87080
IRS990ScheduleA/PublicSupportTotal509Amt0624732
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt028232
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt095262
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0157473
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0190532
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0153233
IRS990ScheduleA/Total509Grp/TotalAmt0624732
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt074319
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0118623
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0177082
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0210392
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0175764
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0756180
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0702254
IRS990ScheduleD/OtherSecuritiesGrp/Desc0INVESTMENTS
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalBookValueSecuritiesAmt0702254
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt012700
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt13000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt22250
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0GRADUATE AND UNDERGRADUATE SCHOLARSHIPS AND GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1GRADUATE AND UNDERGRADUTE TRAVEL GRANTS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt2CALDWELL SCHOLARSHIP AWARD
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt016
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt110
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 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
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IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0775543
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IRS990/TotalContributionsAmt05875
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016434
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01779
IRS990/TotalFunctionalExpensesGrp/TotalAmt018213
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/UnrelatedBusIncmOverLimitInd00
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IRS990/VotingMembersIndependentCnt012
IRS990/WebsiteAddressTxt0WWW.MNIFT.ORG
IRS990/WhistleblowerPolicyInd00
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-05-20 13:21:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0EMILY GRISBECK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07637648431
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-01-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MINNESOTA SECTION INSTITUTE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt04470 W 78TH ST CIRCLE STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0BLOOMINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
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ReturnHeader/PreparerPersonGrp/PhoneNum09528442500

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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$820,844
Liabilities
$0
Net assets
$820,844
Revenue
$63,514
Expenses
$18,213
Net income
$45,301
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
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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