Floyd County Fair Society
- Assets
- $1.8m
- Revenue
- $581.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Charles City, IA
- Founding
- 12/1987
- Data as of
- 09/2022
- EIN
- 42-1234834
Organization Overview
Floyd County Fair Society is located in Charles City, IA. The organization was established in 1987. 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. Floyd County Fair Society 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 09/2022, Floyd County Fair Society generated $581.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.6%) each year. All expenses for the organization totaled $566.3k during the year ending 09/2022. 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
THE OBJECT OF THIS CORPORATION SHALL BE TO ANNUALLY HOLD A FAIR IN FLOYD COUNTY, IOWA, TO FURTHER INTERESTS IN AGRICULTURE AND TO ENCOURAGE THE IMPROVEMENT OF AGRICULTURAL PRODUCTS, LIVESTOCK, ARTICLES OF DOMESTIC INDUSTRY, IMPLEMENTS, AND OTHER MECHANICAL DEVICES IN FLOYD COUNTY, IOWA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PURPOSE OF THIS CORPORATION SHALL BE TO ANNUALLY HOLD A FAIR IN FLOYD COUNTY, IOWA, TO FURTHER INTERESTS IN AGRICULTURE AND TO ENCOURAGE THE IMPROVEMENT OF AGRICULTURAL PRODUCTS, LIVESTOCK, ARTICLES OF DOMESTIC INDUSTRY, IMPLEMENTS, AND OTHER MECHANICAL DEVICES IN FLOYD COUNTY, IOWA.
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Merriss Treasurer | Officer | 2 | $0 |
Jen Schmitt Secretary | Officer | 2 | $0 |
Kelsey Uetz President | Officer | 2 | $0 |
Mike Quade Vice-Preside | Officer | 2 | $0 |
Amy Staudt Director | Trustee | 1 | $0 |
Rod Schmitt Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $240,088 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $240,088 |
| Total Program Service Revenue | $97,930 |
| Investment income | $70 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $78,323 |
| 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 | $581,407 |
| 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 | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,575 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,535 |
| Office expenses | $376 |
| Information technology | $2,380 |
| Royalties | $0 |
| Occupancy | $29,574 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $123,850 |
| Insurance | $30,764 |
| All other expenses | $31,057 |
| Total functional expenses | $566,294 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $188,276 |
| Savings and temporary cash investments | $177,668 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,451 |
| 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 | $1,383,857 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,753,252 |
| 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 | $4,565 |
| Total liabilities | $4,565 |
| Net assets without donor restrictions | $1,748,687 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,753,252 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Floyd County Fair Society has recieved totaling $23,530.
| Awarding Organization | Amount |
|---|---|
First Citizens National Bank Charitable Foundation Inc Mason City, IA PURPOSE: CONSTRUCT BUILDINGFOR 4-H FOOD STANDAND INDOOR ENTERTAINMENT | $12,500 |
First Security Foundation Charles City, IA PURPOSE: GENERAL FUND | $10,000 |
First Citizens National Bank Charitable Foundation Inc Mason City, IA PURPOSE: MATCHING GIFT | $1,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $30 |
Endowment Analysis
| Beg. Balance | $63,621 |
| Earnings | -$5,743 |
| Admin Expense | $737 |
| Net Contributions | $4,575 |
| Ending Balance | $61,716 |
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 |