Civic Intelligence

Clay County Fair Association Inc

990 • Fiscal year 2020 • EIN 42-0185302

Nov 01, 2019 to Oct 31, 2020 • Filed on Jan 29, 2021

Organization ProfileWWW.CLAYCOUNTYFAIR.COM
PO Box 527Spencer, IA 51301-0527

(712) 580-3000

Siviq Scores

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

Liabilities / Assets

95th percentile

0.50x

Higher debt load relative to assets than 95% of similar nonprofits.

2020 filings • 501(c)5 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

99th percentile

2.26x

Higher debt load relative to revenue than 99% of similar nonprofits.

2020 filings • 501(c)5 • $5M-$10M nonprofits • Source year 2020

Net Margin

8th percentile

-14%

Higher net margin than 8% of similar nonprofits.

2020 filings • 501(c)5 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

14th percentile

$81,383

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 4.6% of source-year revenue.

2020 filings • 501(c)5 • $5M-$10M nonprofits • Source year 2020

Asset Growth

24th percentile

0.9%

Faster asset growth than 24% of similar nonprofits.

2020 filings • 501(c)5 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

2nd percentile

-54%

Faster revenue growth than 2% of similar nonprofits.

2020 filings • 501(c)5 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets95th percentile

Assets

Flat

$7,996,551

Flat from 2020

Net Assets

Flat

$4,003,681

Flat from 2020

Liabilities

Flat

$3,992,870

Flat from 2020

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin8th percentile

Revenue

Flat

$1,769,360

Flat from 2020

Expenses

Flat

$2,014,566

Flat from 2020

Net Income

Flat

-$245,206

Flat from 2020

Historical Trend

Balance Sheet Trend

Asset Growth24th percentile

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

$10M$5.0M$0Assets 2011: $9,072,738Liabilities 2011: $3,197,923Net Assets 2011: $5,874,8152011Assets 2012: $8,651,689Liabilities 2012: $3,012,814Net Assets 2012: $5,638,8752012Assets 2013: $8,554,964Liabilities 2013: $2,975,774Net Assets 2013: $5,579,1902013Assets 2014: $7,790,445Liabilities 2014: $2,685,363Net Assets 2014: $5,105,0822014Assets 2015: $8,506,766Liabilities 2015: $3,517,870Net Assets 2015: $4,988,8962015Assets 2016: $8,166,564Liabilities 2016: $3,501,274Net Assets 2016: $4,665,2902016Assets 2017: $7,796,399Liabilities 2017: $3,317,364Net Assets 2017: $4,479,0352017Assets 2018: $8,180,611Liabilities 2018: $3,420,939Net Assets 2018: $4,759,6722018Assets 2019: $7,924,751Liabilities 2019: $3,678,364Net Assets 2019: $4,246,3872019Assets 2020: $7,996,551Liabilities 2020: $3,992,870Net Assets 2020: $4,003,6812020Assets 2020: $7,996,551Liabilities 2020: $3,992,870Net Assets 2020: $4,003,6812020Assets 2021: $8,080,680Liabilities 2021: $3,057,011Net Assets 2021: $5,023,6692021Assets 2022: $7,935,032Liabilities 2022: $2,930,120Net Assets 2022: $5,004,9122022Assets 2023: $8,063,155Liabilities 2023: $2,606,350Net Assets 2023: $5,456,8052023Assets 2024: $7,722,415Liabilities 2024: $2,370,045Net Assets 2024: $5,352,3702024

Highlighted filing

2020

Assets$7,996,551
Liabilities$3,992,870
Net Assets$4,003,681
Open 2020 Filing

Operations Trend

Revenue Growth2nd percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $3,793,493Expenses 2011: $3,737,177Net Income 2011: $56,3162011Expenses 2012: $3,797,3202012Expenses 2013: $3,656,0582013Revenue 2014: $3,630,287Expenses 2014: $4,112,295Net Income 2014: -$482,0082014Revenue 2015: $3,941,137Expenses 2015: $4,062,523Net Income 2015: -$121,3862015Revenue 2016: $3,722,332Expenses 2016: $4,050,838Net Income 2016: -$328,5062016Revenue 2017: $3,689,846Expenses 2017: $3,880,001Net Income 2017: -$190,1552017Revenue 2018: $4,248,927Expenses 2018: $3,970,990Net Income 2018: $277,9372018Revenue 2019: $3,842,081Expenses 2019: $4,357,566Net Income 2019: -$515,4852019Revenue 2020: $1,769,360Expenses 2020: $2,014,566Net Income 2020: -$245,2062020Revenue 2020: $1,769,360Expenses 2020: $2,014,566Net Income 2020: -$245,2062020Revenue 2021: $4,873,409Expenses 2021: $3,855,321Net Income 2021: $1,018,0882021Revenue 2022: $4,413,917Expenses 2022: $4,434,174Net Income 2022: -$20,2572022Revenue 2023: $4,783,385Expenses 2023: $4,333,992Net Income 2023: $449,3932023Revenue 2024: $234,537Expenses 2024: $361,952Net Income 2024: -$127,4152024

Highlighted filing

2020

Revenue$1,769,360
Expenses$2,014,566
Net Income-$245,206
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2019 to Oct 31, 2020
Signed
Jan 29, 2021
Return Version
2019v5.0
Gross Receipts
$1,866,266
Mission and Program Overview

Mission

Management and production of the clay county fair

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$7,493,427$7,160,522▼ $332,905
Savings and Temporary Cash Investments$345,921$406,824▲ $60,903
Cash and Non-Interest-Bearing Accounts$250$352,184▲ $351,934
Prepaid Expenses and Deferred Charges$43,784$33,953▼ $9,831
Accounts Receivable$22,594$24,293▲ $1,699
Inventories for Sale or Use$18,775$18,775→ $0
Total Assets$7,924,751$7,996,551▲ $71,800
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,904,073$3,350,473▲ $446,400
Deferred Revenue$137,372$474,725▲ $337,353
Accounts Payable and Accrued Expenses$636,919$167,672▼ $469,247
Total Liabilities$3,678,364$3,992,870▲ $314,506
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,967,709$3,864,241▼ $103,468
Net Assets With Donor Restrictions$278,678$139,440▼ $139,238
Total Net Assets Fund Balance$4,246,387$4,003,681▼ $242,706
Total Liabilities and Net Assets / Fund Balance$7,924,751$7,996,551▲ $71,800

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$5,851,248$6,271,655$12,122,903
Equipment$446,985$1,312,654$1,759,639
Land$862,289-$862,289
Compensation and Service Providers
Top Officer Pay14th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeremy ParsonsMngr/secFT$81,383$81,383

Board Members and Trustees

NameTitle
Charlie ElserChairman
Dave PotratzVice Chairma
Chuck WhiteDirector
Cindy KressDirector
David BrugmanDirector
Dennis LarsonDirector
Doug BiedenfeldDirector
Greg LearDirector
Joanne FollonDirector
Joe SimingtonDirector
John ZinnDirector
Karen SchwallerDirector
Kathy AndersonDirector
Kevin TlamDirector
Marcia LangnerDirector
Mark ReesDirector
Michael BryanDirector
Teresa SchoelermanDirector
Tim ElserDirector
Bob BendlinExecutive Co
Dan SkeltonExecutive Co
Dana MetcalfExecutive Co
Dave SimingtonExecutive Co
Gayle SimonsExecutive Co
Steve WallerExecutive Co
Tracy SmallExecutive Co
Verdon SchmidtExecutive Co
Revenue and Support

Revenue Composition

Contributions and Grants
$769,579
Program Service Revenue
$218,539
Investment Income
$4,287
Other Revenue
$776,955
Change in Net Assets
$-245,206
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,358,844
Salaries, Compensation, and Employee Benefits$655,722
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$544,439--$544,439
Depreciation Depletion$393,631--$393,631
Occupancy$197,401--$197,401
Interest$136,628--$136,628
All Other Expenses$124,704--$124,704
Insurance$106,579--$106,579
Other Employee Benefits$56,642--$56,642
Payroll Taxes$54,641--$54,641
Advertising$54,384--$54,384
Fees for Services Other$24,988--$24,988
Other Expenses$16,701--$16,701
Total Functional Expenses$2,014,566$0$0$2,014,566
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
Subject to proxy tax
No
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 35% controlled entity
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Organized with a 10 member executive committee.”

Form 990, Page 6, Part VI, Line 7A

“Members vote annually to elect 9 to the board for 3 year terms. The board votes to elect the 10 member executive committee.”

Form 990, Page 6, Part VI, Line 7B

“The full membership must approve any change to the bylaws.”

Form 990, Page 6, Part VI, Line 11B

“Form 990 is reviewed by the executive committee, executive director, and the manager.”

Form 990, Page 6, Part VI, Line 12C

“The organization informs new employees, officers, and directors of the policy when applicable.”

Form 990, Page 6, Part VI, Line 15A

“Compensation of the executive director is annually reviewed, approved, and compared to that of similar positions by the executive committee of the board.”

Form 990, Page 6, Part VI, Line 15B

“Compensation of key employees is annually reviewed and approved by the executive director and then reviewed by the executive committee.”

Form 990, Page 6, Part VI, Line 19

“Financial statements are published in the local newspaper annually. A copy of the financial statements and other documents required to be made public are available in the office of the organization for review as requested.”

Filing and Contact Details

Filer

Filer Name
Clay County Fair Association Inc
EIN
42-0185302
Phone
7125803000
Address
PO BOX 527, SPENCER, IA 51301-0527

Signing Officer

Name
Steve Waller
Title
Executive Committee
Phone
7125803000
Signed
2021-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeremy Parsons
Formed
1917
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
428
Volunteers
25

Preparer

Firm
Campbell Higgins & Mummert Pc
Address
515 1ST AVENUE EAST, SPENCER, IA 51301
Preparer
James a Higgins CPA
Phone
7122625476
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Approximately 25 volunteers help in various ways during fair week.”

Form 990, Part XI, Line 9

“Membership certificates 2,500”

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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/Form990PartVIISectionAGrp/PersonNm7GAYLE SIMONS
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IRS990/Form990PartVIISectionAGrp/PersonNm20GREG LEAR
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IRS990/Form990PartVIISectionAGrp/TitleTxt0MNGR/SEC
IRS990/Form990PartVIISectionAGrp/TitleTxt1CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt3EXECUTIVE CO
IRS990/Form990PartVIISectionAGrp/TitleTxt4EXECUTIVE CO
IRS990/Form990PartVIISectionAGrp/TitleTxt5EXECUTIVE CO
IRS990/Form990PartVIISectionAGrp/TitleTxt6EXECUTIVE CO
IRS990/Form990PartVIISectionAGrp/TitleTxt7EXECUTIVE CO
IRS990/Form990PartVIISectionAGrp/TitleTxt8EXECUTIVE CO
IRS990/Form990PartVIISectionAGrp/TitleTxt9EXECUTIVE CO
IRS990/Form990PartVIISectionAGrp/TitleTxt10EXECUTIVE CO
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
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IRS990/OtherExpensesGrp/Desc0IN-HOUSE EVENTS
IRS990/OtherExpensesGrp/Desc1MAINTENANCE AND REPAIRS
IRS990/OtherExpensesGrp/Desc2BANK/TICKET CHARGES
IRS990/OtherExpensesGrp/Desc3SUPPLIES
IRS990/OtherExpensesGrp/ProgramServicesAmt0247896
IRS990/OtherExpensesGrp/ProgramServicesAmt134751
IRS990/OtherExpensesGrp/ProgramServicesAmt221181
IRS990/OtherExpensesGrp/ProgramServicesAmt316701
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IRS990/OtherExpensesGrp/TotalAmt134751
IRS990/OtherExpensesGrp/TotalAmt221181
IRS990/OtherExpensesGrp/TotalAmt316701
IRS990/OtherRevenueMiscGrp/BusinessCd0713990
IRS990/OtherRevenueMiscGrp/BusinessCd1531390
IRS990/OtherRevenueMiscGrp/Desc0OTHER EVENTS
IRS990/OtherRevenueMiscGrp/Desc1INSURANCE PROCEEDS

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,996,551
Liabilities
$3,992,870
Net assets
$4,003,681
Revenue
$1,769,360
Expenses
$2,014,566
Net income
-$245,206
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.72$2.37$5.35$0.23$0.36$0.13
2023Summary only. Only limited summary data is available for this year.$8.06$2.61$5.46$4.78$4.33$0.45
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.94$2.93$5.00$4.41$4.43$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.08$3.06$5.02$4.87$3.86$1.02
2020Detailed filing. Detailed filing data is available for this year.$8.00$3.99$4.00$1.77$2.01$0.25
2020Summary only. Only limited summary data is available for this year.$8.00$3.99$4.00$1.77$2.01$0.25
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.92$3.68$4.25$3.84$4.36$0.52
2018Summary only. Only limited summary data is available for this year.$8.18$3.42$4.76$4.25$3.97$0.28
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.80$3.32$4.48$3.69$3.88$0.19
2016Detailed filing. Detailed filing data is available for this year.$8.17$3.50$4.67$3.72$4.05$0.33
2015Detailed filing. Detailed filing data is available for this year.$8.51$3.52$4.99$3.94$4.06$0.12
2014Detailed filing. Detailed filing data is available for this year.$7.79$2.69$5.11$3.63$4.11$0.48
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.55$2.98$5.58$3.66
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.65$3.01$5.64$3.80
2011Summary only. Only limited summary data is available for this year.$9.07$3.20$5.87$3.79$3.74$0.06