Buchanan County Fair Assoc
- Assets
- $724.0k
- Revenue
- $559.7k
- Investments
- $0.0
- Employees
- 3
- Location
- Independence, IA
- Founding
- 10/1940
- Data as of
- 09/2022
- EIN
- 42-0158722
Organization Overview
Buchanan County Fair Assoc is located in Independence, IA. The organization was established in 1940. 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, Buchanan County Fair Assoc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Buchanan County Fair Assoc is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 09/2022, Buchanan County Fair Assoc generated $559.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $508.4k during the year ending 09/2022. While expenses have increased by 3.7% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ENTERTAINMENT TO NORTHEAST IOWA
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUCHANAN COUNTY FAIR ASSOCIATION CONDUCTS AN ANNUAL FAIR AND RUNS THE INDEPENDENCE MOTOR SPEEDWAY FOR THE RESIDENTS OF BUCHANAN COUNTY AND NORTHEAST IOWA.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Althaus President | Officer | 0 | $0 |
Eric Ries Vice President | Officer | 0 | $0 |
Kelly Peyton Treasurer | Officer | 0 | $0 |
Kristen Tevis Director | Officer | 0 | $0 |
Lucas Gray Director | Trustee | 0 | $0 |
Rick Alber Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,113 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,288 |
| Total Program Service Revenue | $545,438 |
| Investment income | $37 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $3,902 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $559,665 |
| 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 | $18,543 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,946 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $360 |
| Fees for services: Accounting | $1,405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12 |
| Advertising and promotion | $2,410 |
| Office expenses | $1,201 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $38,361 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,499 |
| Interest | $26 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $22,480 |
| Insurance | $15,064 |
| All other expenses | $2,647 |
| Total functional expenses | $508,419 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,363 |
| Savings and temporary cash investments | $2,218 |
| 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 | $631,399 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $723,980 |
| Accounts payable and accrued expenses | $4,910 |
| 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 | $4,910 |
| 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 | $719,070 |
| Total liabilities and net assets/fund balances | $723,980 |
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 |
American Royal Association Kansas City, MO | $28,283,023 | $7,000,256 |
Lancaster County Agricultural Society Inc Lincoln, NE | $20,865,052 | $2,982,282 |
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 |
Kane County Fair St Charles, IL | $21,061,651 | $1,916,331 |
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 |