Civic Intelligence

Buchanan County Fair Association

990 • Fiscal year 2015 • EIN 42-0158722

Oct 01, 2014 to Sep 30, 2015 • Filed on May 12, 2016

Organization Profilewww.independencemotorspeedway.com
PO Box 258Independence, IA 50644

(319) 334-9287

Siviq Scores

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

Liabilities / Assets

77th percentile

0.11x

Higher debt load relative to assets than 77% of similar nonprofits.

2015 filings • 501(c)5 • $500k-$1M nonprofits • Source year 2015

Liabilities / Revenue

85th percentile

0.21x

Higher debt load relative to revenue than 85% of similar nonprofits.

2015 filings • 501(c)5 • $500k-$1M nonprofits • Source year 2015

Net Margin

36th percentile

0.8%

Higher net margin than 36% of similar nonprofits.

2015 filings • 501(c)5 • $500k-$1M nonprofits • Source year 2015

Top Officer Pay

27th percentile

$0

Higher top officer pay than 27% of similar nonprofits.

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

2015 filings • 501(c)5 • $500k-$1M nonprofits • Source year 2015

Asset Growth

28th percentile

-1.9%

Faster asset growth than 28% of similar nonprofits.

2015 filings • 501(c)5 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Revenue Growth

5th percentile

-26%

Faster revenue growth than 5% of similar nonprofits.

2015 filings • 501(c)5 • $500k-$1M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets77th percentile

Assets

Down

$717,252

Down $13,680 (-1.9%) from 2014

Net Assets

Up

$638,298

Up $3,182 (+0.5%) from 2014

Liabilities

Down

$78,954

Down $16,862 (-18%) from 2014

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin36th percentile

Revenue

Down

$377,410

Down $134,256 (-26%) from 2014

Expenses

Up

$374,228

Up $31,438 (+9.2%) from 2014

Net Income

Down

$3,182

Down $165,694 (-98%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$800K$600K$400K$200K$0Assets 2011: $460,335Liabilities 2011: $244,918Net Assets 2011: $215,4172011Assets 2012: $530,987Liabilities 2012: $249,436Net Assets 2012: $281,5512012Assets 2013: $600,932Liabilities 2013: $134,692Net Assets 2013: $466,2402013Assets 2014: $730,932Liabilities 2014: $95,816Net Assets 2014: $635,1162014Assets 2015: $717,252Liabilities 2015: $78,954Net Assets 2015: $638,2982015Assets 2016: $723,467Liabilities 2016: $37,508Net Assets 2016: $685,9592016Assets 2017: $695,897Liabilities 2017: $3,755Net Assets 2017: $692,1422017Assets 2018: $719,278Liabilities 2018: $67,835Net Assets 2018: $651,4432018Assets 2019: $717,496Liabilities 2019: $42,043Net Assets 2019: $675,4532019Assets 2020: $705,853Liabilities 2020: $45,342Net Assets 2020: $660,5112020Assets 2021: $671,195Liabilities 2021: $3,371Net Assets 2021: $667,8242021Assets 2022: $723,980Liabilities 2022: $4,910Net Assets 2022: $719,0702022Assets 2023: $718,303Liabilities 2023: $4,918Net Assets 2023: $713,3852023Assets 2024: $646,099Liabilities 2024: $106,649Net Assets 2024: $539,4502024

Highlighted filing

2015

Assets$717,252
Liabilities$78,954
Net Assets$638,298
Open 2015 Filing

Operations Trend

Revenue Growth5th percentile

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

$1.0M$500K$0-$500KRevenue 2011: $365,627Expenses 2011: $226,759Net Income 2011: $138,8682011Expenses 2012: $275,2122012Expenses 2013: $281,6582013Revenue 2014: $511,666Expenses 2014: $342,790Net Income 2014: $168,8762014Revenue 2015: $377,410Expenses 2015: $374,228Net Income 2015: $3,1822015Revenue 2016: $441,304Expenses 2016: $393,643Net Income 2016: $47,6612016Revenue 2017: $579,852Expenses 2017: $573,669Net Income 2017: $6,1832017Revenue 2018: $457,497Expenses 2018: $498,196Net Income 2018: -$40,6992018Revenue 2019: $509,176Expenses 2019: $485,166Net Income 2019: $24,0102019Revenue 2020: $182,903Expenses 2020: $183,426Net Income 2020: -$5232020Revenue 2021: $696,447Expenses 2021: $689,134Net Income 2021: $7,3132021Revenue 2022: $559,665Expenses 2022: $508,419Net Income 2022: $51,2462022Revenue 2023: $745,690Expenses 2023: $751,375Net Income 2023: -$5,6852023Revenue 2024: $615,046Expenses 2024: $788,981Net Income 2024: -$173,9352024

Highlighted filing

2015

Revenue$377,410
Expenses$374,228
Net Income$3,182
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2014 to Sep 30, 2015
Signed
May 12, 2016
Return Version
2014v6.0
Gross Receipts
$377,410
Mission and Program Overview

Mission

Provide entertainment to northeast iowa

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$635,116$638,298▲ $3,182
Land, Buildings, and Equipment, Net$628,987$616,803▼ $12,184
Cash and Non-Interest-Bearing Accounts$45,172$53,238▲ $8,066
Savings and Temporary Cash Investments$56,618$45,055▼ $11,563
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$730,932$717,252▼ $13,680
Other Assets Total$155$2,156▲ $2,001
Liabilities
Mortgage Notes Payable Secured by Investment Property$90,000$70,000▼ $20,000
Accounts Payable and Accrued Expenses$5,816$8,954▲ $3,138
Total Liabilities$95,816$78,954▼ $16,862
Net Assets / Fund Balance
Total Net Assets Fund Balance$635,116$638,298▲ $3,182
Total Liabilities and Net Assets / Fund Balance$730,932$717,252▼ $13,680

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$616,803$490,470$1,107,273
Compensation and Service Providers
Top Officer Pay27th percentile

Board Members and Trustees

NameTitle
Nick DenniePresident
Matt WalthartVice President
Bailey DudleyDirector
Brian PrusatorDirector
Cheyney HersheyDirector
Darin BurcoDirector
Eric RiesDirector
Fred SmockDirector
Mark MerfeldDirector
Paul ShortDirector
Rick WendlingDirector
Tina KellyDirector
Julie AlthausSecretary
Kelly PeytonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$40,412
Program Service Revenue
$336,843
Investment Income
$155
Other Revenue
$0
Change in Net Assets
$3,182
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$350,557
Salaries, Compensation, and Employee Benefits$23,671
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$33,906
Occupancy---$33,625
Other Salaries and Wages---$21,846
Insurance---$13,236
Depreciation Depletion---$12,184
Other Expenses---$9,705
Interest---$4,608
Conferences and Meetings---$3,693
Advertising---$2,246
Payroll Taxes---$1,825
Office Expenses---$1,252
Fees for Services Legal---$840
Total Functional Expenses$0$0$0$374,228
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Buchanan County Fair Association
EIN
42-0158722
Phone
3193349287
Address
PO BOX 258, INDEPENDENCE, IA 50644

Signing Officer

Name
Nick Dennie
Title
President
Signed
2016-05-12
Discuss with paid preparer
Yes

Organization Details

Voting Board Members
14
Independent Board Members
14
Employees
6

Preparer

Firm
RFSW & Co CPAs PC
Address
14 East Charles St, Oelwein, IA 50662
Preparer
Alan W Flick
Phone
3192831173
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IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0FAIR EXPENSES
IRS990/OtherExpensesGrp/Desc1CONCESSIONS BEVERAGE
IRS990/OtherExpensesGrp/Desc2FUNDRAISING EXPENSE
IRS990/OtherExpensesGrp/Desc3OTHER OPERATING EXP
IRS990/OtherExpensesGrp/TotalAmt0202458
IRS990/OtherExpensesGrp/TotalAmt123004
IRS990/OtherExpensesGrp/TotalAmt29800
IRS990/OtherExpensesGrp/TotalAmt39705
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt021846
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt01825
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc04-H BUILDING INCOME
IRS990/ProgramServiceRevenueGrp/Desc1CAMPING AND STORAGE RENT
IRS990/ProgramServiceRevenueGrp/Desc2CARNIVAL & FAIR INCOME
IRS990/ProgramServiceRevenueGrp/Desc3FUND RAISING INCOME
IRS990/ProgramServiceRevenueGrp/Desc4RACE TRACK INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt025762
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt18776
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2228577
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt320904
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt441961
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt025762
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18776
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2228577
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt320904
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt441961
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0192535
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt0205
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0322011
IRS990/PYOtherRevenueAmt027557
IRS990/PYProgramServiceRevenueAmt0291369
IRS990/PYRevenuesLessExpensesAmt0168876
IRS990/PYSalariesCompEmpBnftPaidAmt020779
IRS990/PYTotalExpensesAmt0342790
IRS990/PYTotalRevenueAmt0511666
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt03182
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt010112
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0377410
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0635116
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0638298
IRS990/SavingsAndTempCashInvstGrp/BOYAmt056618
IRS990/SavingsAndTempCashInvstGrp/EOYAmt045055
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0616803
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0490470
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01107273
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0616803
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0730932
IRS990/TotalAssetsEOYAmt0717252
IRS990/TotalAssetsGrp/BOYAmt0730932
IRS990/TotalAssetsGrp/EOYAmt0717252
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt040412
IRS990/TotalEmployeeCnt06
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0374228
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt095816
IRS990/TotalLiabilitiesEOYAmt078954
IRS990/TotalLiabilitiesGrp/BOYAmt095816
IRS990/TotalLiabilitiesGrp/EOYAmt078954
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0635116
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0638298
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt010863
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt010863
IRS990/TotalProgramServiceExpensesAmt0374228
IRS990/TotalProgramServiceRevenueAmt0336843
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0336998
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0377410
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0730932
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0717252
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0www.independencemotorspeedway.com
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02016-08-17 19:52:53Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0NICK DENNIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BUCHANAN COUNTY FAIR ASSOCIATION

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$717,252
Liabilities
$78,954
Net assets
$638,298
Revenue
$377,410
Expenses
$374,228
Net income
$3,182
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.46$1.07$5.39$6.15$7.89$1.74
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.18$0.05$7.13$7.46$7.51$0.06
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.24$0.05$7.19$5.60$5.08$0.51
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.71$0.03$6.68$6.96$6.89$0.07
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.06$0.45$6.61$1.83$1.83$0.01
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.17$0.42$6.75$5.09$4.85$0.24
2018Summary only. Only limited summary data is available for this year.$7.19$0.68$6.51$4.57$4.98$0.41
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.96$0.04$6.92$5.80$5.74$0.06
2016Detailed filing. Detailed filing data is available for this year.$7.23$0.38$6.86$4.41$3.94$0.48
2015Detailed filing. Detailed filing data is available for this year.$7.17$0.79$6.38$3.77$3.74$0.03
2014Detailed filing. Detailed filing data is available for this year.$7.31$0.96$6.35$5.12$3.43$1.69
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.01$1.35$4.66$2.82
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.31$2.49$2.82$2.75
2011Summary only. Only limited summary data is available for this year.$4.60$2.45$2.15$3.66$2.27$1.39