Civic Intelligence

Lake County Fair Association

990 • Fiscal year 2015 • EIN 36-6089769

Nov 01, 2014 to Oct 31, 2015 • Filed on Mar 14, 2016

Organization ProfileWWW.LCFAIR.COM
1060 E Peterson RdGrayslake, IL 60030

(847) 680-7200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

42nd percentile

0.20x

Higher debt load relative to assets than 42% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

90th percentile

2.92x

Higher debt load relative to revenue than 90% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Net Margin

36th percentile

0.7%

Higher net margin than 36% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2015

Asset Growth

41st percentile

-0.0%

Faster asset growth than 41% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

81st percentile

22%

Faster revenue growth than 81% of similar nonprofits.

2015 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets42nd percentile

Assets

Down

$33,155,742

Down $15,601 (-0.0%) from 2014

Net Assets

Up

$26,597,523

Up $16,716 (+0.1%) from 2014

Liabilities

Down

$6,558,219

Down $32,317 (-0.5%) from 2014

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin36th percentile

Revenue

Up

$2,245,808

Up $402,009 (+22%) from 2014

Expenses

Up

$2,229,092

Up $77,982 (+3.6%) from 2014

Net Income

Up

$16,716

Up $324,027 (+105%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth41st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0Assets 2011: $35,055,040Liabilities 2011: $6,564,169Net Assets 2011: $28,490,8712011Assets 2012: $33,998,382Liabilities 2012: $6,647,927Net Assets 2012: $27,350,4552012Assets 2014: $33,171,343Liabilities 2014: $6,590,536Net Assets 2014: $26,580,8072014Assets 2015: $33,155,742Liabilities 2015: $6,558,219Net Assets 2015: $26,597,5232015Assets 2016: $31,028,861Liabilities 2016: $5,396,834Net Assets 2016: $25,632,0272016Assets 2017: $28,650,051Liabilities 2017: $4,241,893Net Assets 2017: $24,408,1582017Assets 2018: $28,822,278Liabilities 2018: $4,737,603Net Assets 2018: $24,084,6752018Assets 2019: $28,384,945Liabilities 2019: $4,664,201Net Assets 2019: $23,720,7442019Assets 2020: $27,959,128Liabilities 2020: $4,819,931Net Assets 2020: $23,139,1972020Assets 2021: $27,796,345Liabilities 2021: $5,026,453Net Assets 2021: $22,769,8922021Assets 2022: $27,759,507Liabilities 2022: $4,963,620Net Assets 2022: $22,795,8872022Assets 2023: $27,217,326Liabilities 2023: $4,891,491Net Assets 2023: $22,325,8352023Assets 2024: $26,663,746Liabilities 2024: $4,688,936Net Assets 2024: $21,974,8102024

Highlighted filing

2015

Assets$33,155,742
Liabilities$6,558,219
Net Assets$26,597,523
Open 2015 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$4.0M$2.0M$0-$2.0MExpenses 2011: $1,191,8202011Expenses 2012: $2,285,9412012Revenue 2014: $1,843,799Expenses 2014: $2,151,110Net Income 2014: -$307,3112014Revenue 2015: $2,245,808Expenses 2015: $2,229,092Net Income 2015: $16,7162015Revenue 2016: $1,119,702Expenses 2016: $2,085,198Net Income 2016: -$965,4962016Revenue 2017: $1,058,061Expenses 2017: $2,281,930Net Income 2017: -$1,223,8692017Revenue 2018: $1,965,903Expenses 2018: $2,289,386Net Income 2018: -$323,4832018Revenue 2019: $2,092,977Expenses 2019: $2,456,908Net Income 2019: -$363,9312019Revenue 2020: $814,753Expenses 2020: $1,396,300Net Income 2020: -$581,5472020Revenue 2021: $1,095,277Expenses 2021: $1,464,582Net Income 2021: -$369,3052021Revenue 2022: $2,653,317Expenses 2022: $2,627,322Net Income 2022: $25,9952022Revenue 2023: $2,611,549Expenses 2023: $3,081,601Net Income 2023: -$470,0522023Revenue 2024: $2,816,140Expenses 2024: $3,167,165Net Income 2024: -$351,0252024

Highlighted filing

2015

Revenue$2,245,808
Expenses$2,229,092
Net Income$16,716
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2014 to Oct 31, 2015
Signed
Mar 14, 2016
Return Version
2014v6.0
Gross Receipts
$2,245,808
Mission and Program Overview

Mission

The lake county fair association shall be for the preservation of the past, promotion of the future, and education on the future of agriculture and horticulture, mechanical arts, and the rural and domestic economies of the lake couny community.

The lake county fair association shall be for the preservation of the past, promotion of the future, and education on the future of agriculture and horticulture; mechanical arts; and the rural and domestic economies of the lake couny community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$32,907,268$32,814,156▼ $93,112
Savings and Temporary Cash Investments$235,723$327,160▲ $91,437
Prepaid Expenses and Deferred Charges$10,900$9,900▼ $1,000
Accounts Receivable$16,952$4,026▼ $12,926
Cash and Non-Interest-Bearing Accounts$500$500→ $0
Total Assets$33,171,343$33,155,742▼ $15,601
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,494,644$6,469,370▼ $25,274
Deferred Revenue$37,147$39,242▲ $2,095
Other Liabilities$29,671$36,005▲ $6,334
Unsecured Notes Loans Payable$12,632$7,632▼ $5,000
Accounts Payable and Accrued Expenses$16,442$5,970▼ $10,472
Total Liabilities$6,590,536$6,558,219▼ $32,317
Net Assets / Fund Balance
Unrestricted Net Assets$26,580,807$26,597,523▲ $16,716
Total Net Assets Fund Balance$26,580,807$26,597,523▲ $16,716
Total Liabilities and Net Assets / Fund Balance$33,171,343$33,155,742▼ $15,601

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$9,135,853$1,647,810-
Other Land Buildings$5,908,800--
Land$17,769,503--
Equipment-$434,728-
Compensation and Service Providers
Top Officer Pay6th percentile

Board Members and Trustees

NameTitle
Kelli Kepler-yarcExec Board President
Jon BrodzikPresident
Jerry PretzmanVice President
Amanda KnoppDirector
Jim LallamanDirector
Kathy MillerDirector
Kevin QuinnDirector
Lee WeinbrennerDirector
Rich GeldenDirector
Chris TurnbullSecretary
Jim ConinxTreasurer
Peter TekampeTresurer
Revenue and Support

Revenue Composition

Contributions and Grants
$135,810
Program Service Revenue
$1,430,898
Investment Income
$264
Other Revenue
$678,836
Change in Net Assets
$16,716

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,245,808
Total Revenue per Audited Statements
$2,245,808
Total Revenue per Form 990
$2,245,808
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,838,759
Salaries, Compensation, and Employee Benefits$390,333
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$499,484--$499,484
Other Salaries and Wages$327,283--$327,283
Depreciation Depletion$321,492--$321,492
Interest$319,680--$319,680
Fees for Services Other$92,267--$92,267
Other Expenses$76,329--$76,329
Insurance$51,485--$51,485
Advertising$42,660--$42,660
Other Employee Benefits$30,478--$30,478
Payroll Taxes$29,881--$29,881
Travel$4,992--$4,992
Pension Plan Contributions$2,691--$2,691
Total Functional Expenses$2,229,092$0$0$2,229,092

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,229,092
Total Expenses per Audited Statements$2,229,092
Total Expenses per Form 990$2,229,092
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Interest$19,771
Accrued Payroll Liabilities$16,234
Accrued Accounts Payable-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“The governing body will review the 990 before presentation to the state and fedearl agencies.”

Conflict of interest policy compliance Part VI line 12C

“The conflict of interst policy denies the opportunity of board members or officers from serving as vendors to the fair.”

CEO executive director top management comp Part VI line 15A

“Compensation for the top management is determined by a review by the board of directors and determined after comparison analysis of similar positions at other organizations”

Other officer or key employee compensation Part VI line 15B

“There is no compensation for officers. The only key employee for management is the general manager.”

Governing documents etc available to public Part VI line 19

“Governing documents are available upon request. Currently, the association is considering uploading them on their website.”

Filing and Contact Details

Filer

Filer Name
Lake County Fair Association
EIN
36-6089769
Address
1060 E PETERSON RD, GRAYSLAKE, IL 60030

Signing Officer

Name
Peter Tekampe
Title
Treasurer
Phone
8476807200
Signed
2016-03-14
Discuss with paid preparer
No

Organization Details

Formed
1928
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
12
Employees
27

Preparer

Firm
Rudolph CPA
Address
1870 W WINCHESTER RD STE 113, LIBERTYVILLE, IL 60048
Preparer
Arturo Rosiles CPA
Phone
8473621050
Supplemental Narrative

Additional Explanations

List of other expenses Part IX line 24E

“Included in this section are other expenses unclassifiable in the available categories.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0THE LAKE COUNTY FAIR ASSOCIATION SHALL BE FOR THE PRESERVATION OF THE PAST, PROMOTION OF THE FUTURE, AND EDUCATION ON THE FUTURE OF AGRICULTURE AND HORTICULTURE; MECHANICAL ARTS; AND THE RURAL AND DOMESTIC ECONOMIES OF THE LAKE COUNY COMMUNITY.
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE GOVERNING BODY WILL REVIEW THE 990 BEFORE PRESENTATION TO THE STATE AND FEDEARL AGENCIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CONFLICT OF INTERST POLICY DENIES THE OPPORTUNITY OF BOARD MEMBERS OR OFFICERS FROM SERVING AS VENDORS TO THE FAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION FOR THE TOP MANAGEMENT IS DETERMINED BY A REVIEW BY THE BOARD OF DIRECTORS AND DETERMINED AFTER COMPARISON ANALYSIS OF SIMILAR POSITIONS AT OTHER ORGANIZATIONS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THERE IS NO COMPENSATION FOR OFFICERS. THE ONLY KEY EMPLOYEE FOR MANAGEMENT IS THE GENERAL MANAGER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. CURRENTLY, THE ASSOCIATION IS CONSIDERING UPLOADING THEM ON THEIR WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5INCLUDED IN THIS SECTION ARE OTHER EXPENSES UNCLASSIFIABLE IN THE AVAILABLE CATEGORIES.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IL

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$33,155,742
Liabilities
$6,558,219
Net assets
$26,597,523
Revenue
$2,245,808
Expenses
$2,229,092
Net income
$16,716
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$26.7$4.69$22.0$2.82$3.17$0.35
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.2$4.89$22.3$2.61$3.08$0.47
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$27.8$4.96$22.8$2.65$2.63$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.8$5.03$22.8$1.10$1.46$0.37
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.0$4.82$23.1$0.81$1.40$0.58
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.4$4.66$23.7$2.09$2.46$0.36
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.8$4.74$24.1$1.97$2.29$0.32
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.7$4.24$24.4$1.06$2.28$1.22
2016Detailed filing. Detailed filing data is available for this year.$31.0$5.40$25.6$1.12$2.09$0.97
2015Detailed filing. Detailed filing data is available for this year.$33.2$6.56$26.6$2.25$2.23$0.02
2014Detailed filing. Detailed filing data is available for this year.$33.2$6.59$26.6$1.84$2.15$0.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.0$6.65$27.4$2.29
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$35.1$6.56$28.5$1.19
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2015 filings • 501(c)3 • $25M-$50M nonprofits