Civic Intelligence

Webster County Agricultural Associa

990 • Fiscal year 2018 • EIN 42-6076889

Jan 01, 2018 to Dec 31, 2018 • Filed on May 22, 2019

Organization ProfileNONE
22770 Old Hwy 169Fort Dodge, IA 50501

(515) 955-5560

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.02x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • 501(c)5 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

79th percentile

0.03x

Higher debt load relative to revenue than 79% of similar nonprofits.

2018 filings • 501(c)5 • <$500k nonprofits • Source year 2018

Net Margin

13th percentile

-16%

Higher net margin than 13% of similar nonprofits.

2018 filings • 501(c)5 • <$500k nonprofits • Source year 2018

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2018 filings • 501(c)5 • <$500k nonprofits • Source year 2018

Asset Growth

21st percentile

-8.9%

Faster asset growth than 21% of similar nonprofits.

2018 filings • 501(c)5 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

12th percentile

-17%

Faster revenue growth than 12% of similar nonprofits.

2018 filings • 501(c)5 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Down

$456,403

Down $44,637 (-8.9%) from 2017

Net Assets

Down

$448,854

Down $42,099 (-8.6%) from 2017

Liabilities

Down

$7,549

Down $2,538 (-25%) from 2017

Revenue And Expenses
Liabilities / Revenue79th percentileNet Margin13th percentile

Revenue

Down

$229,272

Down $46,471 (-17%) from 2017

Expenses

Up

$265,000

Up $29,598 (+13%) from 2017

Net Income

Down

-$35,728

Down $76,069 (-189%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$1.0M$500K$0Assets 2011: $357,318Liabilities 2011: $1,318Net Assets 2011: $356,0002011Assets 2012: $395,122Liabilities 2012: $45,448Net Assets 2012: $349,6742012Assets 2013: $415,255Liabilities 2013: $29,456Net Assets 2013: $385,7992013Assets 2014: $423,110Liabilities 2014: $24,519Net Assets 2014: $398,5912014Assets 2015: $429,689Liabilities 2015: $19,707Net Assets 2015: $409,9822015Assets 2016: $472,988Liabilities 2016: $14,617Net Assets 2016: $458,3712016Assets 2017: $501,040Liabilities 2017: $10,087Net Assets 2017: $490,9532017Assets 2018: $456,403Liabilities 2018: $7,549Net Assets 2018: $448,8542018Assets 2019: $458,045Liabilities 2019: $6,527Net Assets 2019: $451,5182019Assets 2020: $549,943Liabilities 2020: $6,057Net Assets 2020: $543,8862020Assets 2021: $641,446Liabilities 2021: $8,701Net Assets 2021: $632,7452021Assets 2022: $826,103Liabilities 2022: $9,983Net Assets 2022: $816,1202022Assets 2023: $886,755Liabilities 2023: $8,026Net Assets 2023: $878,7292023Assets 2024: $881,885Liabilities 2024: $4,651Net Assets 2024: $877,2342024

Highlighted filing

2018

Assets$456,403
Liabilities$7,549
Net Assets$448,854
Open 2018 Filing

Operations Trend

Revenue Growth12th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $222,483Expenses 2011: $200,379Net Income 2011: $22,1042011Revenue 2012: $186,374Expenses 2012: $187,540Net Income 2012: -$1,1662012Revenue 2013: $247,277Expenses 2013: $211,152Net Income 2013: $36,1252013Revenue 2014: $226,613Expenses 2014: $204,558Net Income 2014: $22,0552014Revenue 2015: $233,154Expenses 2015: $221,763Net Income 2015: $11,3912015Revenue 2016: $270,088Expenses 2016: $221,699Net Income 2016: $48,3892016Revenue 2017: $275,743Expenses 2017: $235,402Net Income 2017: $40,3412017Revenue 2018: $229,272Expenses 2018: $265,000Net Income 2018: -$35,7282018Revenue 2019: $275,027Expenses 2019: $265,940Net Income 2019: $9,0872019Revenue 2020: $243,197Expenses 2020: $143,876Net Income 2020: $99,3212020Revenue 2021: $398,146Expenses 2021: $309,287Net Income 2021: $88,8592021Revenue 2022: $552,572Expenses 2022: $369,197Net Income 2022: $183,3752022Revenue 2023: $481,606Expenses 2023: $438,456Net Income 2023: $43,1502023Revenue 2024: $479,303Expenses 2024: $480,770Net Income 2024: -$1,4672024

Highlighted filing

2018

Revenue$229,272
Expenses$265,000
Net Income-$35,728
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 22, 2019
Return Version
2018v3.1
Gross Receipts
$247,969
Mission and Program Overview

Mission

To provide a 4-h county fair

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$348,303$379,614▲ $31,311
Savings and Temporary Cash Investments$152,658$66,279▼ $86,379
Prepaid Expenses and Deferred Charges$4,600$6,370▲ $1,770
Cash and Non-Interest-Bearing Accounts$-4,521$4,140▲ $8,661
Total Assets$501,040$456,403▼ $44,637
Liabilities
Mortgage Notes Payable Secured by Investment Property$7,771$4,067▼ $3,704
Accounts Payable and Accrued Expenses$2,316$3,482▲ $1,166
Total Liabilities$10,087$7,549▼ $2,538
Net Assets / Fund Balance
Unrestricted Net Assets$490,953$448,854▼ $42,099
Total Net Assets Fund Balance$490,953$448,854▼ $42,099
Total Liabilities and Net Assets / Fund Balance$501,040$456,403▼ $44,637

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$88,566$940,093-
Land$138,436--
Leasehold Improvements$152,612$11,118-
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Cory KrugPresident
Scott AndersonVice President
Austin EllisDirector
Heather StewartDirector
Kinsey WhiteDirector
Patty StrunkDirector
Wendy MillsSecretary
Lorrie GradyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$54,750
Program Service Revenue
$34,273
Investment Income
$206
Other Revenue
$140,043
All Other Contributions
$8,250
Change in Net Assets
$-35,728
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$227,446
Salaries, Compensation, and Employee Benefits$37,554
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$34,270--$34,270
Current Officers, Directors, Trustees, and Key Employees$32,182--$32,182
All Other Expenses$22,646--$22,646
Occupancy$21,424--$21,424
Insurance$21,004--$21,004
Depreciation Depletion$18,844--$18,844
Fees for Services Other$8,537--$8,537
Advertising$8,172--$8,172
Office Expenses$6,381--$6,381
Payroll Taxes$4,696--$4,696
Fees for Services Accounting$4,455--$4,455
Conferences and Meetings$816--$816
Other Employee Benefits$676--$676
Interest$296--$296
Fees for Services Legal$225--$225
Fees for Services Lobbying$50--$50
Total Functional Expenses$265,000$0$0$265,000
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
Audit committee
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 governing body review Part VI line 11

“Financials are public record published in the local newspaper and on file with the association of fairs. The board of directors discuss and vote on all financial and operating manners for the organization.”

Form 990 availability to public Part VI line 18

“Financials are published in the local newspaper and on file with the association of fairs.”

Governing documents etc available to public Part VI line 19

“Financials are public record published in the local newspaper and on file with the association of fairs. The board of directors discuss and vote on all financial and operating manners for the organization.”

Filing and Contact Details

Filer

Filer Name
Webster County Agricultural Assn
EIN
42-6076889
Address
22770 OLD HWY 169, FORT DODGE, IA 50501

Signing Officer

Name
Cory Krug
Title
President
Phone
5159553764
Signed
2019-05-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lorrie Grady
Formed
1935
Legal Domicile
Ia
Voting Board Members
8
Independent Board Members
8
Employees
1

Preparer

Firm
Fort & Schlegel CPA Pc
Address
800 1ST AVE S, Fort Dodge, IA 50501
Preparer
Jeremiah Schlegel
Phone
5159555560
Supplemental Narrative

Additional Explanations

Other or change in accounting method Part XII line 1

“Tax estimate payments for the 990-t were deducted from fund balance.”

Explanation of other changes in net assets or fund balances Part XI line 9

“Reduction in fund balance due to change cumulative change caused by income tax paid on unrelated business income 990-t”

List of other expenses Part IX line 24E

“Flea market, motorcross race expenses and federal income taxes paid”

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt413699
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IRS990/PYContributionsGrantsAmt036055
IRS990/PYInvestmentIncomeAmt0158
IRS990/PYOtherExpensesAmt0199225
IRS990/PYOtherRevenueAmt0175366
IRS990/PYProgramServiceRevenueAmt064164
IRS990/PYRevenuesLessExpensesAmt040341
IRS990/PYSalariesCompEmpBnftPaidAmt036177
IRS990/PYTotalExpensesAmt0235402
IRS990/PYTotalRevenueAmt0275743
IRS990/ReconcilationRevenueExpnssAmt0-35728
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt045593
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0174522
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0152658
IRS990/SavingsAndTempCashInvstGrp/EOYAmt066279
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt088566
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0940093
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt01028659
IRS990ScheduleD/LandGrp/BookValueAmt0138436
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0138436
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0152612
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt011118
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0163730
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0379614
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FINANCIALS ARE PUBLIC RECORD PUBLISHED IN THE LOCAL NEWSPAPER AND ON FILE WITH THE ASSOCIATION OF FAIRS. THE BOARD OF DIRECTORS DISCUSS AND VOTE ON ALL FINANCIAL AND OPERATING MANNERS FOR THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FINANCIALS ARE PUBLISHED IN THE LOCAL NEWSPAPER AND ON FILE WITH THE ASSOCIATION OF FAIRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FINANCIALS ARE PUBLIC RECORD PUBLISHED IN THE LOCAL NEWSPAPER AND ON FILE WITH THE ASSOCIATION OF FAIRS. THE BOARD OF DIRECTORS DISCUSS AND VOTE ON ALL FINANCIAL AND OPERATING MANNERS FOR THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3TAX ESTIMATE PAYMENTS FOR THE 990-T WERE DEDUCTED FROM FUND BALANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4REDUCTION IN FUND BALANCE DUE TO CHANGE CUMULATIVE CHANGE CAUSED BY INCOME TAX PAID ON UNRELATED BUSINESS INCOME 990-T
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FLEA MARKET, MOTORCROSS RACE EXPENSES AND FEDERAL INCOME TAXES PAID
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 availability to public Part VI line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other or change in accounting method Part XII line 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0501040
IRS990/TotalAssetsEOYAmt0456403
IRS990/TotalAssetsGrp/BOYAmt0501040
IRS990/TotalAssetsGrp/EOYAmt0456403
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt054750
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0265000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0265000
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010087
IRS990/TotalLiabilitiesEOYAmt07549
IRS990/TotalLiabilitiesGrp/BOYAmt010087
IRS990/TotalLiabilitiesGrp/EOYAmt07549
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0490953
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0448854
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0265000
IRS990/TotalProgramServiceRevenueAmt034273
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0174522
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0229272
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0501040
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0456403
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationAssocInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0490953
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0448854
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0NONE
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CORY KRUG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05159553764
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-05-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WEBSTER COUNTY AGRICULTURAL ASSN
ReturnHeader/Filer/BusinessNameControlTxt0WEBS
ReturnHeader/Filer/EIN0426076889
ReturnHeader/Filer/USAddress/AddressLine1Txt022770 OLD HWY 169
ReturnHeader/Filer/USAddress/CityNm0FORT DODGE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IA
ReturnHeader/Filer/USAddress/ZIPCd050501
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId03353020D8B76812CFEAF58268796C43F85762493
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId03353020D8B76812CFEAF58268796C43F85762493
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId04249992019242hkk1ctn
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-08-30
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0167.142.26.207
ReturnHeader/FilingSecurityInformation/IPDt02019-08-30
ReturnHeader/FilingSecurityInformation/IPTm017:01:11
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0822148135
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FORT & SCHLEGEL CPA PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0800 1ST AVE S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Fort Dodge
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd050501
ReturnHeader/PreparerPersonGrp/PhoneNum05159555560
ReturnHeader/PreparerPersonGrp/PreparationDt02019-08-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEREMIAH SCHLEGEL
ReturnHeader/ReturnTs02019-08-30T17:09:52-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$456,403
Liabilities
$7,549
Net assets
$448,854
Revenue
$229,272
Expenses
$265,000
Net income
-$35,728
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.82$0.05$8.77$4.79$4.81$0.01
2023Detailed filing. Detailed filing data is available for this year.$8.87$0.08$8.79$4.82$4.38$0.43
2022Detailed filing. Detailed filing data is available for this year.$8.26$0.10$8.16$5.53$3.69$1.83
2021Detailed filing. Detailed filing data is available for this year.$6.41$0.09$6.33$3.98$3.09$0.89
2020Detailed filing. Detailed filing data is available for this year.$5.50$0.06$5.44$2.43$1.44$0.99
2019Detailed filing. Detailed filing data is available for this year.$4.58$0.07$4.52$2.75$2.66$0.09
2018Detailed filing. Detailed filing data is available for this year.$4.56$0.08$4.49$2.29$2.65$0.36
2017Detailed filing. Detailed filing data is available for this year.$5.01$0.10$4.91$2.76$2.35$0.40
2016Detailed filing. Detailed filing data is available for this year.$4.73$0.15$4.58$2.70$2.22$0.48
2015Summary only. Only limited summary data is available for this year.$4.30$0.20$4.10$2.33$2.22$0.11
2014Summary only. Only limited summary data is available for this year.$4.23$0.25$3.99$2.27$2.05$0.22
2013Summary only. Only limited summary data is available for this year.$4.15$0.29$3.86$2.47$2.11$0.36
2012Summary only. Only limited summary data is available for this year.$3.95$0.45$3.50$1.86$1.88$0.01
2011Summary only. Only limited summary data is available for this year.$3.57$0.01$3.56$2.22$2.00$0.22