Union Fair Society
- Assets
- $374.2k
- Revenue
- $96.6k
- Investments
- $0.0
- Employees
- 28
- Location
- Union, ME
- Founding
- 10/1938
- Data as of
- 03/2024
- EIN
- 01-0224214
Organization Overview
Union Fair Society is located in Union, ME. The organization was established in 1938. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 03/2024, Union Fair Society employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Union Fair Society is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 03/2024, Union Fair Society generated $96.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (28.8%) each year. All expenses for the organization totaled $44.6k during the year ending 03/2024. As we would expect to see with falling revenues, expenses have declined by (39.2%) per year over the past 5 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION IN MATTERS OF MAINE AGRICULTURE
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE UNION FAIR SOCIETY GENERALLY CONDUCTS A FIVE TO SEVEN DAY AGRICULTURAL FAIR WITH PUBLIC ATTENDANCE EXCEEDING 18,000. IN ORDER TO BETTER MATCH INCOME AND EXPENSES, THE FAIR HAS CHANGED THEIR YEAR-END TO REFLECT STATE STIPEND INCOME TO THE YEAR EARNED. NO AGRICULTURAL FAIR OCCURRED DURING THIS SHORT PERIOD. THIS TAX RETURN REFLECTS TIMING DIFFERENCES IN ORDER TO REPORT THE SHORT-YEAR RETURN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rick Butler Trustee | Trustee | 3 | $0 |
Christine Luce Trustee | Trustee | 3 | $0 |
Earland Luce Trustee | Trustee | 3 | $0 |
Andrew Jura Trustee | Trustee | 3 | $0 |
Valerie Jackson Trustee | Trustee | 3 | $0 |
Ryan Soule 1st Vice-Pres | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $14,288 |
| Government grants | $58,604 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $72,892 |
| Total Program Service Revenue | $5,379 |
| Investment income | $12 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $18,354 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $96,647 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $96 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,854 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,952 |
| Office expenses | $857 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $5,873 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,177 |
| Interest | $161 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,900 |
| Insurance | $14,469 |
| All other expenses | $752 |
| Total functional expenses | $44,576 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $271,012 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $103,184 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $374,196 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $10,672 |
| Other liabilities | $574 |
| Total liabilities | $11,246 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $362,950 |
| Total liabilities and net assets/fund balances | $374,196 |