Martin County Fair
- Assets
- $1.1m
- Revenue
- $119.6k
- Investments
- $0.0
- Employees
- 38
- Location
- Fairmont, MN
- Founding
- 11/2001
- Data as of
- 09/2020
- EIN
- 41-2017823
Organization Overview
Martin County Fair is located in Fairmont, MN. The organization was established in 2001. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 09/2022, Martin County Fair employed 38 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Martin County Fair is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2020, Martin County Fair generated $119.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.6%) each year. All expenses for the organization totaled $156.1k during the year ending 09/2020. As we would expect to see with falling revenues, expenses have declined by (15.9%) per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SPONSORING ANNUAL COUNTY FAIR AND PROVIDE VENUE FOR 4-H AND OTHER AGRICULTERAL EXHIBITORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATIONS OF STORAGE RENTAL SO THERE CONTINUES TO BE ACTIVITY AT THE FAIR GROUNDS AND THE BUILDINGS GET USED. THE INCOME IS USED TO IMPROVE THE FAIR GROUNDS AND BUILDINGS TO KEEP THE FAIR A GREAT ATTRACTION FOR MARTIN COUNTY.
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Pomerenke Vice Preside | Officer | $960 | |
Lisa Stromberg Secretary | Officer | $960 | |
Jim Kain Board Member | Trustee | $960 | |
Brad Sherman Board Member | Trustee | $960 | |
Tracy Richardson Board Member | Trustee | $960 | |
Nate Amborn Board Memebe | Trustee | $960 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $54,667 |
| Investment income | $1,874 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $54,569 |
| 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 | $119,565 |
| Statement of Expenses | |
|---|---|
| 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. | $8,470 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,939 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $337 |
| Fees for services: Management | $1,065 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,063 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $25 |
| Advertising and promotion | $2,301 |
| Office expenses | $1,011 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,945 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,960 |
| Insurance | $7,732 |
| All other expenses | $0 |
| Total functional expenses | $156,141 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $107,943 |
| Savings and temporary cash investments | $265,353 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,441 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,125,741 |
| Accounts payable and accrued expenses | $1,143 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $489,445 |
| 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 | $3,356 |
| Total liabilities | $4,499 |
| 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 | $18,600 |
| Total liabilities and net assets/fund balances | $1,121,242 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Martin County Fair has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Minnesota Community Foundation Saint Paul, MN PURPOSE: MULTIPLE GRANTS FOR MULTIPLE PURPOSES | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa West Foundation Council Bluffs, IA | $531,828,155 | $56,969,163 |
Iowa State Fair Foundation Des Moines, IA | $11,002,682 | $8,403,117 |
Fair And Exposition Society Of Jones County Inc Monticello, IA | $5,659,527 | $5,307,608 |
Minnesota Fair Plan Bloomington, MN | $3,079,043 | $3,023,700 |
Sioux Empire Fair Association Sioux Falls, SD | $1,938,315 | $2,671,698 |
Minnesota Propane Association Zimmerman, MN | $1,583,838 | $1,664,231 |
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 |
Walworth County Agricultural Society Elkhorn, WI | $2,948,383 | $904,049 |
Shawano Area Agricultural Society Inc Shawano, WI | $1,017,818 | $1,408,309 |
Delaware County Fair Society Inc Manchester, IA | $1,772,483 | $1,454,892 |