Civic Intelligence

Clay County Fair Charitable Trust C/O Clay County Fair Assoc Inc

990 • Fiscal year 2019 • EIN 42-1407793

Nov 01, 2018 to Oct 31, 2019 • Filed on Jan 29, 2020

Organization ProfileCLAYCOUNTYFAIR.COM/CHARITABLE-TRUST
PO Box 527Spencer, IA 51301-0527

(712) 262-3000

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.01x

Higher debt load relative to assets than 63% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

71st percentile

0.02x

Higher debt load relative to revenue than 71% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

5th percentile

-101%

Higher net margin than 5% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

97th percentile

$84,131

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 62.3% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

17th percentile

-27%

Faster asset growth than 17% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

97th percentile

267%

Faster revenue growth than 97% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets63rd percentile

Assets

Down

$364,126

Down $132,804 (-27%) from 2018

Net Assets

Down

$361,059

Down $135,871 (-27%) from 2018

Liabilities

Up

$3,067

Up $3,067 from 2018

Revenue And Expenses
Liabilities / Revenue71st percentileNet Margin5th percentile

Revenue

Up

$135,038

Up $98,200 (+267%) from 2018

Expenses

Down

$270,909

Down $432,757 (-62%) from 2018

Net Income

Up

-$135,871

Up $530,957 (+80%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

$1.5M$1.0M$500K$0Assets 2010: $144,249Liabilities 2010: $1,145Net Assets 2010: $143,1042010Assets 2011: $138,978Liabilities 2011: $1,460Net Assets 2011: $137,5182011Assets 2012: $141,506Liabilities 2012: $3,839Net Assets 2012: $137,6672012Assets 2013: $312,219Liabilities 2013: $3,200Net Assets 2013: $309,0192013Assets 2014: $273,038Liabilities 2014: $4,745Net Assets 2014: $268,2932014Assets 2015: $910,987Liabilities 2015: $4,745Net Assets 2015: $906,2422015Assets 2016: $1,090,875Liabilities 2016: $4,877Net Assets 2016: $1,085,9982016Assets 2017: $1,163,758Liabilities 2017: $0Net Assets 2017: $1,163,7582017Assets 2018: $496,930Liabilities 2018: $0Net Assets 2018: $496,9302018Assets 2019: $364,126Liabilities 2019: $3,067Net Assets 2019: $361,0592019Assets 2020: $1,082,274Liabilities 2020: $0Net Assets 2020: $1,082,2742020Assets 2021: $964,408Liabilities 2021: $0Net Assets 2021: $964,4082021Assets 2022: $944,778Liabilities 2022: $0Net Assets 2022: $944,7782022Assets 2023: $557,064Liabilities 2023: $0Net Assets 2023: $557,0642023Assets 2024: $621,696Liabilities 2024: $0Net Assets 2024: $621,6962024

Highlighted filing

2019

Assets$364,126
Liabilities$3,067
Net Assets$361,059
Open 2019 Filing

Operations Trend

Revenue Growth97th percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MExpenses 2010: $44,6082010Revenue 2011: $5,714Expenses 2011: $11,300Net Income 2011: -$5,5862011Revenue 2012: $8,189Expenses 2012: $8,040Net Income 2012: $1492012Revenue 2013: $194,314Expenses 2013: $22,961Net Income 2013: $171,3532013Revenue 2014: $27,264Expenses 2014: $67,990Net Income 2014: -$40,7262014Revenue 2015: $726,268Expenses 2015: $88,319Net Income 2015: $637,9492015Revenue 2016: $206,171Expenses 2016: $26,415Net Income 2016: $179,7562016Revenue 2017: $177,368Expenses 2017: $99,608Net Income 2017: $77,7602017Revenue 2018: $36,838Expenses 2018: $703,666Net Income 2018: -$666,8282018Revenue 2019: $135,038Expenses 2019: $270,909Net Income 2019: -$135,8712019Revenue 2020: $1,006,225Expenses 2020: $285,010Net Income 2020: $721,2152020Revenue 2021: $652,165Expenses 2021: $770,031Net Income 2021: -$117,8662021Revenue 2022: $196,589Expenses 2022: $166,219Net Income 2022: $30,3702022Revenue 2023: $152,717Expenses 2023: $540,431Net Income 2023: -$387,7142023Revenue 2024: $19,725Expenses 2024: $4,279Net Income 2024: $15,4462024

Highlighted filing

2019

Revenue$135,038
Expenses$270,909
Net Income-$135,871
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2018 to Oct 31, 2019
Signed
Jan 29, 2020
Return Version
2018v3.2
Gross Receipts
$138,108
Mission and Program Overview

Mission

Financial support for the clay county fair.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$415,745$325,941▼ $89,804
Pledges and Grants Receivable$81,185$38,185▼ $43,000
Total Assets$496,930$364,126▼ $132,804
Liabilities
Accounts Payable and Accrued Expenses-$3,067-
Total Liabilities$0$3,067▲ $3,067
Net Assets / Fund Balance
Unrestricted Net Assets$496,930$361,059▼ $135,871
Total Net Assets Fund Balance$496,930$361,059▼ $135,871
Total Liabilities and Net Assets / Fund Balance$496,930$364,126▼ $132,804
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleOtherTotal
Jeremy ParsonsSecretary/ce$84,131$84,131

Board Members and Trustees

NameTitle
Charles ElserChairman
David PotratzVice Chairma
Bob BendlinExecutive Co
Dana MetcalfExecutive Co
Dave SimingtonExecutive Co
Gayle SimonsExecutive Co
Steve WallerExecutive Co
Tracy SmallExecutive Co
Verdon SchmidtExecutive Co
Dan SkeltonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$133,053
Program Service Revenue
$0
Investment Income
$1,965
Other Revenue
$20
All Other Contributions
$129,685
Change in Net Assets
$-135,871
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$270,409
Grants and Similar Amounts Paid$500
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$256,119--$256,119
Other Expenses$2,200--$2,200
Fees for Services Accounting$1,250--$1,250
Office Expenses$715--$715
Grants to Domestic Individuals$500--$500
Total Functional Expenses$270,909$0$0$270,909
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$3,070
Fundraising Gross Income$3,070
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 1A

“The clay county fair and events center's executive committee serves as the board of trustees for the clay county fair charitable trust. The ability to vote on decision-making lies solely with the executive committee.”

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

“Reviewed by governing body.”

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 19

“A copy of 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 Charitable Trust
EIN
42-1407793
Phone
7122623000
Address
PO BOX 527, SPENCER, IA 51301-0527

Signing Officer

Name
Jeremy Parsons
Title
Secretary/CEO/mgr
Phone
7125803000
Signed
2020-01-29
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeremy Parsons
Formed
1993
Legal Domicile
Ia
Voting Board Members
10
Independent Board Members
10
Employees
0

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 2, Part III, Line 4D

“To provide financial support for those scientific and educational activities of the clay county fair association.”

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IRS990ScheduleA/PublicSupportCY170Pct00.68510
IRS990ScheduleA/PublicSupportPY170Pct00.68270
IRS990ScheduleA/PublicSupportTotal170Amt0914092
IRS990ScheduleA/SubstantialContributorsTotAmt0336514
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0133053
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt035521
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0157774
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0197980
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0726278
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01250606
IRS990ScheduleA/TotalSupportAmt01334213
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
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE FINANCIAL SUPPORT FOR THOSE SCIENTIFIC AND EDUCATIONAL ACTIVITIES OF THE CLAY COUNTY FAIR ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CLAY COUNTY FAIR AND EVENTS CENTER'S EXECUTIVE COMMITTEE SERVES AS THE BOARD OF TRUSTEES FOR THE CLAY COUNTY FAIR CHARITABLE TRUST. THE ABILITY TO VOTE ON DECISION-MAKING LIES SOLELY WITH THE EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2REVIEWED BY GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION INFORMS NEW EMPLOYEES, OFFICERS, AND DIRECTORS OF THE POLICY WHEN APPLICABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF DOCUMENTS REQUIRED TO BE MADE PUBLIC ARE AVAILABLE IN THE OFFICE OF THE ORGANIZATION FOR REVIEW AS REQUESTED.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CLAY COUNTY FAIR ASSOCIATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt0CLAY COUNTY FAIR ASSOCIATION INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0420185302
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C5
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MANAGEMENT
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 527
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0SPENCER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd051301
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0true
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0256119
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0CLAY COUNTY FAIR ASSOCIATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine2Txt0CLAY COUNTY FAIR ASSOCIATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0B
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0496930
IRS990/TotalAssetsEOYAmt0364126
IRS990/TotalAssetsGrp/BOYAmt0496930
IRS990/TotalAssetsGrp/EOYAmt0364126
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0133053
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0270909
IRS990/TotalFunctionalExpensesGrp/TotalAmt0270909
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt03067
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt03067
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0496930
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0361059
IRS990/TotalOtherProgSrvcExpenseAmt0270409
IRS990/TotalProgramServiceExpensesAmt0270909
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01985
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0135038
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0496930
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0364126
IRS990/TotReportableCompRltdOrgAmt084131
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0496930
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0361059
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0CLAYCOUNTYFAIR.COM/CHARITABLE-TRUST
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEREMY PARSONS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/CEO/MGR
ReturnHeader/BusinessOfficerGrp/PhoneNum07125803000
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-01-29
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CLAY COUNTY FAIR CHARITABLE TRUST
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O CLAY COUNTY FAIR ASSOC INC
ReturnHeader/Filer/BusinessNameControlTxt0CLAY
ReturnHeader/Filer/EIN0421407793
ReturnHeader/Filer/PhoneNum07122623000
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 527
ReturnHeader/Filer/USAddress/CityNm0SPENCER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd0513010527
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId09135808D56DE6308E9DABDE1FBD35D9C5C571CBB

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$364,126
Liabilities
$3,067
Net assets
$361,059
Revenue
$135,038
Expenses
$270,909
Net income
-$135,871
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.62$0.00$0.62$0.02$0.00$0.02
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.56$0.00$0.56$0.15$0.54$0.39
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.94$0.00$0.94$0.20$0.17$0.03
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.96$0.00$0.96$0.65$0.77$0.12
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.08$0.00$1.08$1.01$0.29$0.72
2019Detailed filing. Detailed filing data is available for this year.$0.36$0.00$0.36$0.14$0.27$0.14
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.50$0.00$0.50$0.04$0.70$0.67
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.00$1.16$0.18$0.10$0.08
2016Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$0.21$0.03$0.18
2015Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$0.73$0.09$0.64
2014Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.03$0.07$0.04
2013Summary only. Only limited summary data is available for this year.$0.31$0.00$0.31$0.19$0.02$0.17
2012Summary only. Only limited summary data is available for this year.$0.14$0.00$0.14$0.01$0.01$0.00
2011Summary only. Only limited summary data is available for this year.$0.14$0.00$0.14$0.01$0.01$0.01
2010XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.14$0.00$0.14$0.04