Phelps County Agricultural Society
- Assets
- $572.5k
- Revenue
- $189.9k
- Investments
- $0.0
- Employees
- 21
- Location
- Holdrege, NE
- Founding
- 09/1983
- Data as of
- 06/2022
- EIN
- 47-0547558
Organization Overview
Phelps County Agricultural Society is located in Holdrege, NE. The organization was established in 1983. According to its NTEE Classification (K28) the organization is classified as: Farm Bureaus & Granges, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 06/2022, Phelps County Agricultural Society employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phelps County Agricultural Society is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 06/2022, Phelps County Agricultural Society generated $189.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $162.4k during the year ending 06/2022. While expenses have increased by 4.6% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
HOLD ANNUAL COUNTY FAIR AND RENT ROOMS TO PUBLIC OR ORGANIZATIONS
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL OF OFFICE SPACE
FAIR ENTERTAINMENT ADVERTISING AND SUPPLIES
FAIR AWARDS AND PRIZES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clark Nelson President | OfficerTrustee | 6 | $990 |
Richard Waller Treasuer | OfficerTrustee | 4 | $754 |
Becky Harris Secretary | OfficerTrustee | 2 | $424 |
Joe Larson Vice President | OfficerTrustee | 2 | $407 |
Kyle Edgren Board Member | Trustee | 1 | $385 |
Lyle Kinnaman Board Member | Trustee | 1 | $385 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,303 |
| Related organizations | $0 |
| Government grants | $163,247 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,161 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $188,711 |
| Total Program Service Revenue | $0 |
| Investment income | $76 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,515 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,090 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $189,853 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $26,184 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,792 |
| Compensation of current officers, directors, key employees. | $5,792 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,594 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,591 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $271 |
| Office expenses | $2,277 |
| Information technology | $1,560 |
| 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 | $1,522 |
| Interest | $0 |
| Payments to affiliates | $535 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $31,036 |
| All other expenses | $0 |
| Total functional expenses | $162,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,594 |
| Savings and temporary cash investments | $143,976 |
| 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 | $400,934 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $572,504 |
| Accounts payable and accrued expenses | $162,385 |
| 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 | $162,385 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $410,119 |
| 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 | $572,504 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Phelps County Agricultural Society has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Phelps County Community Foundation Inc Holdrege, NE PURPOSE: BUILDING IMPROVEMENT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Livestock Marketing Association Overland Park, KS | $41,945,453 | $11,175,778 |
German Farmers Mutual Assessment Insurance Assoc Of Hall County Inc Cairo, NE | $1,959,468 | $2,974,512 |
American Society Of Farm Managers & Rural Appraisers Glendale, CO | $4,224,649 | $2,977,415 |
Iowa-Nebraska Farm Equipment Association Inc Johnston, IA | $8,633,028 | $3,095,740 |
Buffalo County Agricultural Association Kearney, NE | $14,912,793 | $2,842,209 |
South Dakota Farm Bureau Federation Huron, SD | $2,922,262 | $2,176,457 |
National Assn Of Farm Broadcasters Platte City, MO | $5,376,583 | $1,403,716 |
Mississippi Valley Farm Bus Assn Fairfield, IA | $0 | $944,274 |
Wyoming Farm Bureau Federation Laramie, WY | $2,675,847 | $935,677 |
Farm Equipment Manufacturers Association Saint Louis, MO | $4,847,175 | $923,223 |
Central Iowa Farm Business Assn Jefferson, IA | $566,912 | $990,824 |
Fayette County Agricultural Society West Union, IA | $1,416,189 | $1,190,275 |