Civic Intelligence

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

990 • Fiscal year 2021 • EIN 42-1407793

Nov 01, 2020 to Oct 31, 2021 • Filed on Mar 08, 2022

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

29th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

29th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

13th percentile

-18%

Higher net margin than 13% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

88th percentile

$98,357

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

11th percentile

-11%

Faster asset growth than 11% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

10th percentile

-35%

Faster revenue growth than 10% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets29th percentile

Assets

Down

$964,408

Down $117,866 (-11%) from 2020

Net Assets

Down

$964,408

Down $117,866 (-11%) from 2020

Liabilities

Flat

$0

Flat from 2020

Revenue And Expenses
Liabilities / Revenue29th percentileNet Margin13th percentile

Revenue

Down

$652,165

Down $354,060 (-35%) from 2020

Expenses

Up

$770,031

Up $485,021 (+170%) from 2020

Net Income

Down

-$117,866

Down $839,081 (-116%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth11th 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

2021

Assets$964,408
Liabilities$0
Net Assets$964,408
Open 2021 Filing

Operations Trend

Revenue Growth10th 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

2021

Revenue$652,165
Expenses$770,031
Net Income-$117,866
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Nov 1, 2020 to Oct 31, 2021
Signed
Mar 8, 2022
Return Version
2020v4.0
Gross Receipts
$652,165
Mission and Program Overview

Mission

Financial support for the clay county fair.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$608,439$665,193▲ $56,754
Pledges and Grants Receivable$473,835$249,215▼ $224,620
Total Assets$1,082,274$964,408▼ $117,866
Other Assets Total-$50,000-
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,082,274$964,408▼ $117,866
Total Net Assets Fund Balance$1,082,274$964,408▼ $117,866
Total Liabilities and Net Assets / Fund Balance$1,082,274$964,408▼ $117,866

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$50,000--
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleOtherTotal
Jeremy ParsonsSecretary/ce$98,357$98,357

Board Members and Trustees

NameTitle
Steve WallerChairman
Dana MetcalfVice Chairma
Dan SkeltonExecutive Co
David PotratzExecutive Co
Dennis LarsonExecutive Co
Gayle SimonsExecutive Co
Greg LearExecutive Co
Kathy AndersonExecutive Co
Tracy SmallExecutive Co
Verdon SchmidtTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$649,703
Program Service Revenue
$0
Investment Income
$2,462
Other Revenue
$0
All Other Contributions
$649,703
Change in Net Assets
$-117,866
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$770,031
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Payments to Affiliates$750,846--$750,846
Advertising$7,663--$7,663
Fees for Services Accounting$1,290--$1,290
Office Expenses$990--$990
Other Expenses$216--$216
Total Functional Expenses$770,031$0$0$770,031
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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 decsion-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
2022-03-08
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
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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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IRS990ScheduleA/TotalSupportAmt02030497
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/OtherAssetsOrgGrp/BookValueAmt050000
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ENDOW IOWA FUND
IRS990ScheduleD/TotalBookValueOtherAssetsAmt050000
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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 DECSION-MAKING LIES SOLELY WITH THE EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1REVIEWED BY GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION INFORMS NEW EMPLOYEES, OFFICERS, AND DIRECTORS OF THE POLICY WHEN APPLICABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A 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 6, PART VI, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 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/InvolvedAmt0750846
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/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01082274
IRS990/TotalAssetsEOYAmt0964408
IRS990/TotalAssetsGrp/BOYAmt01082274
IRS990/TotalAssetsGrp/EOYAmt0964408
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0649703
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0770031
IRS990/TotalFunctionalExpensesGrp/TotalAmt0770031
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01082274
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0964408
IRS990/TotalProgramServiceExpensesAmt0770031
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt02462
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0652165
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01082274
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0964408
IRS990/TotReportableCompRltdOrgAmt098357
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0CLAYCOUNTYFAIR.COM/CHARITABLE-TRUST
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-03-31 18:45:55Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JEREMY PARSONS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/CEO/MGR
ReturnHeader/BusinessOfficerGrp/PhoneNum07125803000
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-03-08
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/PreparerFirmGrp/PreparerFirmEIN0421388238
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CAMPBELL HIGGINS & MUMMERT PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0515 1ST AVENUE EAST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPENCER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd051301
ReturnHeader/PreparerPersonGrp/PhoneNum07122625476
ReturnHeader/PreparerPersonGrp/PreparationDt02022-03-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES A HIGGINS CPA
ReturnHeader/ReturnTs02022-03-08T16:30:39-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JEREMY
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PARSONS
ReturnHeader/TaxPeriodBeginDt02020-11-01
ReturnHeader/TaxPeriodEndDt02021-10-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$964,408
Liabilities
$0
Net assets
$964,408
Revenue
$652,165
Expenses
$770,031
Net income
-$117,866
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
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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