Greater Grand Forks Fair & Exhibition Association Inc
- Assets
- $529.6k
- Revenue
- $337.5k
- Investments
- $0.0
- Employees
- 36
- Location
- Grand Forks, ND
- Founding
- 06/1990
- Data as of
- 12/2021
- EIN
- 45-0382663
Organization Overview
Greater Grand Forks Fair & Exhibition Association Inc is located in Grand Forks, ND. The organization was established in 1990. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Greater Grand Forks Fair & Exhibition Association Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greater Grand Forks Fair & Exhibition Association Inc 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 12/2021, Greater Grand Forks Fair & Exhibition Association Inc generated $337.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $322.3k during the year ending 12/2021. While expenses have increased by 4.3% per year over the past 6 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
PROMOTE SOCIAL WELFARE OF AREA RESIDENTS BY PROVIDING A COUNTY FAIR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COUNTY FAIR & EXHIBITION - THE FAIR WAS ESTABLISHED TO PROMOTE THE SOCIAL WELFARE OF THE RESIDENTS OF THE GREATER GRAND FORKS AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Kvasager Vice Preside | Officer | 2 | $0 |
Trisha Stromsodt Treasurer | Officer | 3 | $0 |
Terry Stromsodt President | Officer | 4 | $0 |
Mark Landa Secretary | Officer | 2 | $0 |
Keith Eggl Director | Trustee | 2 | $0 |
Derek Earl Director | Trustee | 2 | $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 | $95,272 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,272 |
| Total Program Service Revenue | $168,718 |
| Investment income | $16 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $57,142 |
| 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 | $337,488 |
| 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 | $39,219 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,032 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,803 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,085 |
| Advertising and promotion | $24,007 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,078 |
| Travel | $557 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,589 |
| Interest | $2,570 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,101 |
| Insurance | $7,456 |
| All other expenses | $8,553 |
| Total functional expenses | $322,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $152,796 |
| 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 | $376,805 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $529,601 |
| Accounts payable and accrued expenses | $1,940 |
| 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 | $22,894 |
| Unsecured mortgages and notes payable | $18,613 |
| Other liabilities | $0 |
| Total liabilities | $43,447 |
| Net assets without donor restrictions | $486,154 |
| 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 | $529,601 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Bhs Inc Miles City, MT | $616,353 | $1,455,430 |
Minnesota Horse Exposition Inc Savage, MN | $340,167 | $766,278 |
Washington County Agricultural Society Afton, MN | $2,227,122 | $617,116 |
Pennington County Fair Association Thief River Falls, MN | $844,322 | $591,013 |
Nobles County Fair Association Worthington, MN | $641,545 | $553,145 |
Crow Wing County Fair Association Brainerd, MN | $434,508 | $569,871 |
Swift County Fair Association Kerkhoven, MN | $1,046,742 | $483,384 |
Greater Grand Forks Fair & Exhibition Association Inc Grand Forks, ND | $529,601 | $337,488 |
Marshall County Agriculture Association Warren, MN | $1,435,494 | $437,670 |