Salinas Valley Fair Inc
- Assets
- $6.0m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 15
- Location
- King City, CA
- Founding
- 03/1956
- Data as of
- 12/2021
- EIN
- 94-1347838
Organization Overview
Salinas Valley Fair Inc is located in King City, CA. The organization was established in 1956. 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, Salinas Valley Fair Inc employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salinas Valley Fair 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, Salinas Valley Fair Inc generated $1.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (4.9%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 7 years. 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
TO SHOWCASE THE ANNUAL SALINAS VALLEY FAIR AND TO PROMOTE THE TALENT AND EDUCATION OF CITIZENS OF ALL AGES AND PROVIDE A YEAR ROUND SETTING FOR COMMUNITY SERVICE EVENTS AND CELEBRATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF ANNUAL SALINAS VALLEY FAIR UNDER THE CALIFORNIA STATE DIVISION OF FAIRS & EXPOSITIONS AND THE SALINAS VALLEY FAIR BOARD OF DIRECTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lauren Hamilton Interim CEO | 40 | $74,506 | |
Rick Grogan Head Of Maint | 40 | $49,808 | |
Jerica Hurtado Business Assistant | 40 | $37,750 | |
Earl Escobar Buildings Super. | 40 | $36,803 | |
Bernardo Martinez Maintenance | 40 | $33,280 | |
Margaret Noroian President | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $398,828 |
| All other contributions, gifts, grants, and similar amounts not included above | $42,096 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $440,924 |
| Total Program Service Revenue | $302,025 |
| Investment income | $515 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,626,028 |
| 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 | $331,179 |
| Pension plan accruals and contributions | $7,404 |
| Other employee benefits | $105,156 |
| Payroll taxes | $31,239 |
| 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 | $9,749 |
| Advertising and promotion | $19,849 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,501 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $346,688 |
| Insurance | $73,819 |
| All other expenses | $0 |
| Total functional expenses | $1,705,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $624,958 |
| Savings and temporary cash investments | $407,804 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $39,339 |
| 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 | $4,926,536 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,075 |
| Total assets | $6,000,712 |
| Accounts payable and accrued expenses | $38,281 |
| 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 | $33,986 |
| Total liabilities | $72,267 |
| Net assets without donor restrictions | $5,928,445 |
| 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 | $6,000,712 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Salinas Valley Fair Inc has recieved totaling $20,031.
| Awarding Organization | Amount |
|---|---|
Rita And Luis Echenique Charitable Foundation King City, CA PURPOSE: $20,000 TOWARDS WIFI UPGRADES. | $20,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $31 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alameda County Agricultural Fair Association Pleasanton, CA | $25,128,920 | $22,272,124 |
San Mateo County Expostion And Fair Association San Mateo, CA | $12,291,623 | $16,007,611 |
San Diego Comic Convention San Diego, CA | $43,401,363 | $7,260,590 |
Fairweather Foundation Minden, NV | $0 | $533,390 |
Southwestern Fair Commission Inc Tucson, AZ | $10,447,798 | $10,245,189 |
Sonoma County Fair & Exposition Inc Santa Rosa, CA | $17,626,127 | $9,756,365 |
Santa Clara County Fair Grounds Management Corporation Inc San Jose, CA | $6,944,822 | $8,647,044 |
California Hotel & Lodging Association Sacramento, CA | $2,645,077 | $3,327,105 |
Solano County Fair Association Vallejo, CA | $3,212,783 | $5,027,208 |
Palm Springs International Film Society Palm Springs, CA | $7,602,219 | $1,734,436 |
Christmas In The Park San Jose, CA | $1,177,728 | $2,488,885 |
San Joaquin County Junior Show And Auction Council Stockton, CA | $530,126 | $2,131,504 |