Fulton County Fair & Racing Association
- Assets
- $426.9k
- Revenue
- $275.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Lewistown, IL
- Founding
- 11/1935
- Data as of
- 12/2021
- EIN
- 37-6045889
Organization Overview
Fulton County Fair & Racing Association is located in Lewistown, IL. The organization was established in 1935. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fulton County Fair & Racing Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2021, Fulton County Fair & Racing Association generated $275.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $215.3k during the year ending 12/2021. While expenses have increased by 2.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
COUNTY FAIR: PROVIDES ENTERTAINMENT FOR ADULTS AND YOUTH. AREA 4-H GROUPS HAVE LIVESTOCK EXHIBITS, HORSE RACING, MUD-SLING, SEWING & COOKING CONTESTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COUNTY FAIR: PROVIDES ENTERTAINMENT FOR ADULTS AND YOUTH. AREA 4-H GROUPS HAVE LIVESTOCK EXHIBITS, HORSE RACING, MUD-SLING, SEWING & COOKING CONTESTS.
GENERAL FAIR EVENTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Wagahoff Secretart | Officer | 3 | $3,000 |
Craig Mccoy President | Officer | 2 | $0 |
Mike Battefeld Treasurer | Officer | 3 | $0 |
Doug Lafary Director | Trustee | 1 | $0 |
Rod Lynch Director | Trustee | 1 | $0 |
Victor Miller Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $22,443 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $15,703 |
| All other contributions, gifts, grants, and similar amounts not included above | $161,766 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $199,912 |
| Total Program Service Revenue | $0 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $275,472 |
| 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 | $15,031 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $474 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $128,739 |
| Advertising and promotion | $50,601 |
| Office expenses | $1,651 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $331 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,538 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $15,890 |
| All other expenses | $0 |
| Total functional expenses | $215,255 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $221,969 |
| 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 | $204,921 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $426,890 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 | $426,890 |
| Total liabilities and net assets/fund balances | $426,890 |
Peer Organizations
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|---|---|---|
Iowa West Foundation Council Bluffs, IA | $531,828,155 | $56,969,163 |
Richard M Fairbanks Foundation Inc Indianapolis, IN | $343,052,565 | $13,782,735 |
Iowa State Fair Foundation Des Moines, IA | $11,002,682 | $8,403,117 |
American Royal Association Kansas City, MO | $28,283,023 | $7,000,256 |
500 Festival Inc Indianapolis, IN | $6,763,861 | $5,772,745 |
Kentucky Derby Festival Inc Louisville, KY | $6,625,289 | $3,844,478 |
Fair And Exposition Society Of Jones County Inc Monticello, IA | $5,659,527 | $5,307,608 |
Kane County Fair St Charles, IL | $21,061,651 | $1,916,331 |
Sheboygan County Fair Association Plymouth, WI | $2,297,030 | $1,962,294 |
Kenosha County Fair Association Inc Wilmot, WI | $2,247,686 | $1,814,776 |
German Fest Milwaukee Inc Menomonee Falls, WI | $1,157,824 | $1,461,133 |
Lake County Fair Association Grayslake, IL | $27,796,345 | $1,095,277 |