Phelps County Agricultural Society
- Assets
- $561.2k
- Revenue
- $169.3k
- Investments
- $0.0
- Employees
- 18
- Location
- Holdrege, NE
- Founding
- 09/1983
- Data as of
- 06/2023
- 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 06/2023, Phelps County Agricultural Society employed 18 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 06/2023, Phelps County Agricultural Society generated $169.3k in total revenue. The organization has seen a slow decline revenue. Over the past 4 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $180.6k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HOLD ANNUAL FAIR AND RENT ROOMS TO THE PUBLIC
Describe the Organization's Program Activity:
Part 3 - Line 4a
RENTAL OF OFFICE SPACE
COUNTY FAIR ENTERTAINMENT, ADVERTISING AND FAIR SUPPLIES
COUNTY FAIR AWARDS AND PREMIUMS FOR 4H AND FFA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clark Nelson President | OfficerTrustee | 6 | $990 |
Richard Waller Treasuer | OfficerTrustee | 4 | $787 |
Becky Harris Secretary | OfficerTrustee | 2 | $374 |
Joe Larson Vice President | OfficerTrustee | 2 | $407 |
Kyle Edgren Board Member | Trustee | 1 | $385 |
Tyler Freeland Board Member | Trustee | 1 | $401 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $2,463 |
| Related organizations | $0 |
| Government grants | $145,218 |
| All other contributions, gifts, grants, and similar amounts not included above | $13,646 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $161,327 |
| Total Program Service Revenue | $0 |
| Investment income | $797 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$5,094 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $8,763 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $169,276 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $28,619 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,907 |
| Compensation of current officers, directors, key employees. | $5,907 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $75,648 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,943 |
| 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 | $57 |
| Office expenses | $768 |
| Information technology | $1,868 |
| 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 | $1,666 |
| Interest | $0 |
| Payments to affiliates | $535 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $35,340 |
| All other expenses | $0 |
| Total functional expenses | $180,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,793 |
| Savings and temporary cash investments | $104,483 |
| 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 | $561,210 |
| Accounts payable and accrued expenses | $180,570 |
| 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 | $180,570 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $380,640 |
| 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 | $561,210 |