Park Of East Texas Inc
- Assets
- $4.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 54
- Location
- Tyler, TX
- Founding
- 10/1993
- Data as of
- 12/2022
- EIN
- 75-0247290
Organization Overview
Park Of East Texas Inc is located in Tyler, TX. The organization was established in 1993. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Park Of East Texas Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Park Of East Texas 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 12/2022, Park Of East Texas Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. While expenses have increased by 1.8% per year over the past 8 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
THE PARK OF EAST TEXAS, INC (POET) OPERATES, MAINTAINS, AND SUPPORTS AN ANNUAL FAIR PRODUCED BY THE STAFF AND VOLUNTEERS OF THE PARK OF EAST TEXAS, INC. THE POET PROMOTES THE ADVANCEMENT OF EDUCATION THROUGH ESSAY CONTESTS, ART EXHIBITS AND DISPLAYS OF AGRICULTURAL AND HORTICULTURAL ADVANCEMENTS, AND TECHNIQUES AND OTHER SUBJECTS THAT ARE USFUL TO INDIVIDUALS AND BENEFICIAL TO THE COMMUNITY. THE PARK OF EAST TEXAS HAS ACQUIRED 240 ACRES WITH PLANS FOR A YEAR-ROUND MASTER PLANNED AREA WHICH INCLUDES EQUESTRIAN FACILITIES, EXHIBITION AND EXPO SPACE, MEETING ROOMS, OPEN DEMONSTRATION AND EDUCATIONAL SPACE, AN AMPHITHEATER, AN EVENTS CENTER, EQUESTRIAN AND PEDESTRIAN TRAILS AND A HOTEL. AN ENVIRONMENTALLY CONTROLLED, MULTI-PURPOSE ARENA IS PLANNED FOR PHASE 1 WITH PLANNED USAGE TO INCLUDE TRADE SHOWS, COMMENCEMENT PROGRAMS, CONVENTIONS, CONCERTS, HORSE SHOWS, CAR SHOWS, AND OTHER EVENTS LEFT TO THE IMAGINATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PARK OF EAST TEXAS, INC. (DBA EAST TEXAS STATE FAIR ASSOCIATION) OFFERS UNIQUE EDUCATIONAL OPPORTUNITIES TO YOUTH THROUGH A WIDE VARIETY OF PROGRAMS. ANNUAL SCHOLARSHIPS ARE AWARDED THROUGH THE POET AND THROUGH AN INTERNAL EDUCATIONAL COMPETITION, ACADEMIC RODEO. GRADUATING SENIORS ARE ABLE TO APPLY FOR POET SCHOLARSHILPS TO ATTEND TYLER JUNIOR COLLEGE FOR A $750 PER SEMESTER STIPEND. UP TO TEN TWO-YEAR POET SCHOLARSHIPS ARE AWARDED ANNUALLY ($30,000) TO STUDENTS ATTENDING TYLER JUNIOR COLLEGE. ACADEMIC RODEO PARTICIPANTS WHO PLACE FIRST-THIRD IN ANY COMPETITION ARE ABLE TO APPLY FOR ACADEMIC RODEO SCHOLARSHIPS. THESE SCHOLARSHIPS ARE AWARDED TO BOTH MIDDLE SCHOOL AND HIGH SCHOOL SUDENTS, FOR A TOTAL OF 10 SCHOLARSHIP AWARDS ANNUALLY. THE PARK OF EAST TEXAS IS ITS OWN EDUCATIONAL TOOL. STUDENT TOUR GROUPS VISIT THE FAIR ANNUALLY TO TOUR THE VARIOUS EXHIBITS. THESE TOURS ARE THE INITIAL EXPOSURE MANY STUDENTS HAVE TO THE WORLD OF AGRICULTURE, FARMING, AND LIVESTOCK. THE OPPORTUNITY TO DEMONSTRATE TO CHILDREN HOW AGRICULTURE TOUCHES THEIR DAILY LIVES IS AN IMPORTANT LESSON. THE EAST TEXAS STATE FAIR LIVESTOCK SHOW SUPPORTS OVER 3,500 ENTRIES AND HONORS WINNERS WITH CASH PREMIUMS TOTALING OVER $20,000 PER YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Sykes CEO | OfficerTrustee | 40 | $270,940 |
Preston Smith Chairman | OfficerTrustee | 1 | $0 |
Roy Lilly Past Chairman | OfficerTrustee | 1 | $0 |
Joe Cavender Vice Chairman | OfficerTrustee | 1 | $0 |
Andrew Adams Director | Trustee | 1 | $0 |
Ann Fitzgerald 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 | $552 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $552 |
| Total Program Service Revenue | $1,826,327 |
| Investment income | $8,520 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $12,128 |
| 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 | $1,856,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,566 |
| Grants and other assistance to domestic individuals. | $15,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $270,940 |
| Compensation of current officers, directors, key employees. | $81,282 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $324,136 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,677 |
| Payroll taxes | $41,520 |
| 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 | $49,896 |
| Advertising and promotion | $74,738 |
| Office expenses | $4,565 |
| Information technology | $16,108 |
| Royalties | $0 |
| Occupancy | $107,206 |
| Travel | $11,596 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,548 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,410 |
| Insurance | $53,665 |
| All other expenses | $136,572 |
| Total functional expenses | $1,580,510 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,580,150 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,749 |
| 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 | $2,182,851 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $306,963 |
| Total assets | $4,090,713 |
| Accounts payable and accrued expenses | $30,723 |
| 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 | $834,427 |
| Total liabilities | $865,150 |
| 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 | $1,788,368 |
| Retained earnings, endowment, accumulated income, or other funds | $1,437,195 |
| Total liabilities and net assets/fund balances | $4,090,713 |