Panhandle South Plains Fair Association is located in Lubbock, TX. The organization was established in 1938. According to its NTEE Classification (J40) the organization is classified as: Labor Unions, under the broad grouping of Employment and related organizations. As of 11/2021, Panhandle South Plains Fair Association employed 66 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Panhandle South Plains Fair Association is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 11/2021, Panhandle South Plains Fair Association generated $2.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $1.8m during the year ending 11/2021. While expenses have increased by 0.9% 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
AGRICULTURAL FAIR AND EXPOSITION
Describe the Organization's Program Activity:
Part 3 - Line 4a
AGRICULTURAL FAIR AND EXPOSITION
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jennifer Wallace General Manager | Officer | 45 | $84,251 |
Alan Henry President | OfficerTrustee | 1 | $0 |
Robert Granfeldt Secretary/treasurer | OfficerTrustee | 1 | $0 |
Ellwood Keeney Vice President | OfficerTrustee | 1 | $0 |
Marciano Morales Director | Trustee | 1 | $0 |
Gary Greenstreet Director | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Galyean Insulating Insulation Services | 11/29/19 | $647,264 |
Ccw Inc Equipment, Installation | 11/29/19 | $952,300 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $104,935 |
All other contributions, gifts, grants, and similar amounts not included above | $9,100 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $114,035 |
Total Program Service Revenue | $1,756,277 |
Investment income | $52,499 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $90,896 |
Net Gain/Loss on Asset Sales | $36,903 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,087,500 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $500 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $84,251 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $96,695 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $14,695 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $7,300 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $7,327 |
Fees for services: Other | $356,970 |
Advertising and promotion | $93,472 |
Office expenses | $26,319 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $175,412 |
Travel | $29,832 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $778 |
Interest | $99,539 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $326,057 |
Insurance | $168,878 |
All other expenses | $0 |
Total functional expenses | $1,770,011 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $641,584 |
Savings and temporary cash investments | $42,175 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $9,965 |
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 | $42,364 |
Net Land, buildings, and equipment | $4,433,179 |
Investments—publicly traded securities | $1,402,267 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $3,390 |
Other assets | $0 |
Total assets | $6,574,924 |
Accounts payable and accrued expenses | $248,917 |
Grants payable | $0 |
Deferred revenue | $7,048 |
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 | $1,385,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $1,640,965 |
Net assets without donor restrictions | $4,933,959 |
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 | $6,574,924 |
Beg. Balance | $25,000 |
Ending Balance | $25,000 |
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