Civic Intelligence

The State Agricultural & Mechanical Society of South Carolina

990 • Fiscal year 2023 • EIN 57-0254875

Jan 01, 2023 to Dec 31, 2023 • Filed on Apr 18, 2024

Organization ProfileWWW.SCSTATEFAIR.ORG

View Organization Page

PO Box 393Columbia, SC 29202-0393

(803) 799-3387

Siviq Scores

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

Liabilities / Assets

16th percentile

0.02x

Higher debt load relative to assets than 16% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Liabilities / Revenue

13th percentile

0.05x

Higher debt load relative to revenue than 13% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Net Margin

89th percentile

43%

Higher net margin than 89% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Top Officer Pay

42nd percentile

$228,870

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2023

Asset Growth

81st percentile

23%

Faster asset growth than 81% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Revenue Growth

60th percentile

10%

Faster revenue growth than 60% of similar nonprofits.

2023 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$28,595,703

Up $5,307,887 (+23%) from 2022

Net Assets

Up

$28,081,983

Up $4,994,107 (+22%) from 2022

Liabilities

Up

$513,720

Up $313,780 (+157%) from 2022

Revenue And Expenses
Liabilities / Revenue13th percentileNet Margin89th percentile

Revenue

Up

$10,718,254

Up $1,002,724 (+10%) from 2022

Expenses

Up

$6,074,487

Up $421,453 (+7.5%) from 2022

Net Income

Up

$4,643,767

Up $581,271 (+14%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth81st percentile

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

$40M$30M$20M$10M$0Assets 2010: $13,619,825Liabilities 2010: $3,569,695Net Assets 2010: $10,050,1302010Assets 2011: $13,009,504Liabilities 2011: $2,725,661Net Assets 2011: $10,283,8432011Assets 2012: $12,684,173Liabilities 2012: $1,826,008Net Assets 2012: $10,858,1652012Assets 2013: $11,910,670Liabilities 2013: $259,630Net Assets 2013: $11,651,0402013Assets 2014: $12,511,900Liabilities 2014: $377,278Net Assets 2014: $12,134,6222014Assets 2015: $17,323,549Liabilities 2015: $5,105,536Net Assets 2015: $12,218,0132015Assets 2016: $17,334,120Liabilities 2016: $4,486,713Net Assets 2016: $12,847,4072016Assets 2017: $16,610,703Liabilities 2017: $3,423,601Net Assets 2017: $13,187,1022017Assets 2018: $16,766,766Liabilities 2018: $2,952,819Net Assets 2018: $13,813,9472018Assets 2019: $16,177,926Liabilities 2019: $270,223Net Assets 2019: $15,907,7032019Assets 2020: $14,927,301Liabilities 2020: $225,920Net Assets 2020: $14,701,3812020Assets 2021: $19,244,443Liabilities 2021: $219,063Net Assets 2021: $19,025,3802021Assets 2022: $23,287,816Liabilities 2022: $199,940Net Assets 2022: $23,087,8762022Assets 2023: $28,595,703Liabilities 2023: $513,720Net Assets 2023: $28,081,9832023Assets 2024: $33,759,531Liabilities 2024: $364,215Net Assets 2024: $33,395,3162024

Highlighted filing

2023

Assets$28,595,703
Liabilities$513,720
Net Assets$28,081,983
Open 2023 Filing

Operations Trend

Revenue Growth60th percentile

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

$15M$10M$5.0M$0-$5.0MExpenses 2010: $5,415,2852010Expenses 2011: $5,767,1502011Expenses 2012: $5,741,8062012Revenue 2013: $6,756,149Expenses 2013: $5,959,812Net Income 2013: $796,3372013Revenue 2014: $6,428,340Expenses 2014: $5,944,758Net Income 2014: $483,5822014Revenue 2015: $6,444,621Expenses 2015: $6,361,230Net Income 2015: $83,3912015Revenue 2016: $7,284,102Expenses 2016: $6,654,708Net Income 2016: $629,3942016Revenue 2017: $6,827,909Expenses 2017: $6,488,214Net Income 2017: $339,6952017Revenue 2018: $6,976,102Expenses 2018: $6,349,257Net Income 2018: $626,8452018Revenue 2019: $8,104,139Expenses 2019: $6,010,383Net Income 2019: $2,093,7562019Revenue 2020: $877,759Expenses 2020: $2,380,681Net Income 2020: -$1,502,9222020Revenue 2021: $8,865,077Expenses 2021: $4,779,078Net Income 2021: $4,085,9992021Revenue 2022: $9,715,530Expenses 2022: $5,653,034Net Income 2022: $4,062,4962022Revenue 2023: $10,718,254Expenses 2023: $6,074,487Net Income 2023: $4,643,7672023Revenue 2024: $11,581,978Expenses 2024: $7,090,706Net Income 2024: $4,491,2722024

Highlighted filing

2023

Revenue$10,718,254
Expenses$6,074,487
Net Income$4,643,767
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Apr 18, 2024
Return Version
2023v5.0
Gross Receipts
$29,010,123
Mission and Program Overview

Mission

To promote the material, education, agricultural and industry interests of the state of south carolina. Conducting the annual sc state fair is the most significant activity of the organization.

To promote the material, educational, agricultural, and industrial interests of the state of south carolina. Conducting the annual sc state fair is the most significant activity of the organization.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,019,372$10,849,132▼ $170,240
Investments in Publicly Traded Securities-$10,641,585-
Cash and Non-Interest-Bearing Accounts$5,188,391$6,928,912▲ $1,740,521
Prepaid Expenses and Deferred Charges$279,430$100,306▼ $179,124
Accounts Receivable$1,243,647$64,677▼ $1,178,970
Savings and Temporary Cash Investments$5,556,976$11,091▼ $5,545,885
Total Assets$23,287,816$28,595,703▲ $5,307,887
Liabilities
Accounts Payable and Accrued Expenses$180,957$471,069▲ $290,112
Deferred Revenue$18,983$42,651▲ $23,668
Total Liabilities$199,940$513,720▲ $313,780
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$23,087,876$28,081,983▲ $4,994,107
Total Net Assets Fund Balance$23,087,876$28,081,983▲ $4,994,107
Total Liabilities and Net Assets / Fund Balance$23,287,816$28,595,703▲ $5,307,887

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$6,344,581$18,481,516$24,826,097
Other Land Buildings$1,487,272$1,106,001$2,593,273
Land$2,349,223-$2,349,223
Equipment$668,056$1,547,405$2,215,461
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Nancy L SmithSec/treas &FT$209,524$19,346$228,870
Nancy L SmithSec/treas & General-$209,524$19,346$228,870
J Cantey Heath JrPresident-$10,000-$10,000
William C Cantey IiiVice Preside-$8,000-$8,000
John C Heath SrPast Preside-$5,200-$5,200
Michael M BealExecutive Co-$5,000-$5,000
Stanley JacksonExecutive Co-$4,300-$4,300
Ricci L WelchExecutive Co-$3,400-$3,400
Joseph J KeenanExecutive Co-$3,000-$3,000
James S Fulmer JrExecutive Co-$2,800-$2,800
Mark W Buyck JrExecutive Co-$2,000-$2,000
Joseph J Turner JrExecutive Co-$1,800-$1,800

Highest Paid Contractors

ContractorServicesLocationCompensation
Flock And RallyAdvertising1817 GADSDEN STREET, Columbia, SC 29201$238,989
Revenue and Support

Revenue Composition

Contributions and Grants
$75,789
Program Service Revenue
$8,782,456
Investment Income
$293,906
Other Revenue
$1,566,103
All Other Contributions
$73,539
Change in Net Assets
$4,643,767

Audited Revenue Reconciliation

Revenue per Audited Statements
$10,718,254
Revenue Not Reported on Form 990
$1,617,195
Total Revenue per Audited Statements
$12,335,449
Total Revenue per Form 990
$10,718,254
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,981,688
Salaries, Compensation, and Employee Benefits$2,825,799
Grants and Similar Amounts Paid$267,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,641,899$518,495-$2,160,394
Advertising$310,864--$310,864
Grants to Domestic Individuals$267,000--$267,000
Current Officers, Directors, Trustees, and Key Employees$163,787$91,236-$255,023
Insurance$199,859$22,206-$222,065
Payroll Taxes$132,112$41,720-$173,832
Other Employee Benefits$93,158$29,419-$122,577
Pension Plan Contributions$86,620$27,353-$113,973
Office Expenses$27,827$64,931-$92,758
Occupancy$92,039--$92,039
Other Expenses$78,602$8,731-$87,333
Travel$13,557$50,121-$63,678
Depreciation Depletion$58,133--$58,133
Fees for Services Other$43,544$4,025-$47,569
Information Technology$32,034--$32,034
Total Functional Expenses$5,193,304$881,183$0$6,074,487

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,341,342
Expenses per Audited Statements$6,074,487
Total Expenses per Form 990$6,074,487
Expenses Not Reported on Form 990$1,266,855
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
Audit committee
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 2

“John c heath, sr. Family relationship john c heath, jr. Family relationship william c cantey, iii family relationship”

Form 990, Page 6, Part VI, Line 6

“The society has members that pay a one-time lifetime membership fee.”

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

“Members of the society elect members of the executive committee.”

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

“A complete copy of form 990 with all attachments and schedules is provided to each executive committee member prior to the last monthly meeting before the due date of form 990. All comments and questions are addressed and all required changes approved by the executive committee are made to form 990 prior to the filing of the return.”

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

“The organization's governing documents, conflict of interest policy and financial statements are all available to the public upon request.”

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

“The organization reviews all employees at least annually. The executive committee is responsible for the review of the general manager. The general manager is responsible for the review of all other employees of the organization. The general manager reports to the executive committee. Compensation of the general manager is set by the executive committee, which gets input from the national fair association to determine the general manager's compensation. The goal is that the general manager's compensation is comparable with similar fair organizations in the united states. The same process is followed by the general manager for determining employees' compensation.”

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

“The general manager is responsible for the review of all other employees of the organization. The general manager reports to the executive committee.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are all available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The State Agricultural & Mechanical
EIN
57-0254875
Phone
8037993387
Address
PO BOX 393, COLUMBIA, SC 29202-0393

Signing Officer

Name
Nancy L Smith
Title
Sec/treas & General
Phone
8037993387
Signed
2024-04-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nancy L Smith
Formed
1941
Legal Domicile
Sc
Voting Board Members
10
Independent Board Members
10
Employees
536

Preparer

Firm
Scott and Company LLC
Address
PO BOX 8388, COLUMBIA, SC 29202
Preparer
William T Pouncey
Phone
8032566021
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Rental expenses 1,266,855 rental expenses -1,266,855”

Financial Statement Notes

Schedule D, Page 3, Part X

“Management has determined that there are no significant uncertain tax positions taken or expected to be taken requiring recognition as liabilities in the society's financial statements. The society is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. Generally, the society's tax returns remain open for three years to federal and state income tax examinations.”

Schedule D, Page 4, Part XI, Line 2D

“Rental expenses 1,266,855”

Schedule D, Page 4, Part XII, Line 2D

“Rental expenses 1,266,855”

Raw XML AppendixShowing 400 of 527 raw XML fields

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/TitleTxt2VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt3PAST PRESIDE
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IRS990/MissionDesc0TO PROMOTE THE MATERIAL, EDUCATIONAL, AGRICULTURAL, AND INDUSTRIAL INTERESTS OF THE STATE OF SOUTH CAROLINA. CONDUCTING THE ANNUAL SC STATE FAIR IS THE MOST SIGNIFICANT ACTIVITY OF THE ORGANIZATION.
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IRS990/OtherExpensesGrp/Desc1REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS EXPENSE
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IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt041720
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IRS990/PayrollTaxesGrp/TotalAmt0173832
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt027353
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IRS990/PrincipalOfficerNm0NANCY L SMITH
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IRS990/ProgramServiceRevenueGrp/Desc2SPRING FOOD CONCESSIONS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1129237
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt044710
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IRS990/PYGrantsAndSimilarPaidAmt0222000
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IRS990/PYOtherRevenueAmt01174164
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IRS990/PYRevenuesLessExpensesAmt04062496
IRS990/PYSalariesCompEmpBnftPaidAmt02769356
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IRS990/PYTotalRevenueAmt09715530
IRS990/ReconcilationRevenueExpnssAmt04643767
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt01455863
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt08782456
IRS990/SavingsAndTempCashInvstGrp/BOYAmt05556976
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011091
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt075789
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt044710
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt048480
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt037815
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt017268
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0224062
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt02327783
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt01967931
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01450749
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt02394897
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt011168473
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt08892696
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt08462168
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt07992827
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0421468
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt06861691
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt03027113
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt02327783
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt01967931
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt01450749
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt02394897
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt011168473
IRS990ScheduleA/InvestmentIncomeCYPct00.25000
IRS990ScheduleA/InvestmentIncomePYPct00.26000
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.74630
IRS990ScheduleA/PublicSupportPY509Pct00.74060
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IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt08968485
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0459283
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt010834661
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt06344581
IRS990ScheduleD/BuildingsGrp/DepreciationAmt018481516
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IRS990ScheduleD/EquipmentGrp/BookValueAmt0668056
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01547405
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt02349223
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IRS990ScheduleD/OtherRevenueAmt01266855
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS DETERMINED THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN REQUIRING RECOGNITION AS LIABILITIES IN THE SOCIETY'S FINANCIAL STATEMENTS. THE SOCIETY IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. GENERALLY, THE SOCIETY'S TAX RETURNS REMAIN OPEN FOR THREE YEARS TO FEDERAL AND STATE INCOME TAX EXAMINATIONS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1RENTAL EXPENSES 1,266,855
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2RENTAL EXPENSES 1,266,855
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt012335449
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,595,703
Liabilities
$513,720
Net assets
$28,081,983
Revenue
$10,718,254
Expenses
$6,074,487
Net income
$4,643,767
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$33.8$0.36$33.4$11.6$7.09$4.49
2023Detailed filing. Detailed filing data is available for this year.$28.6$0.51$28.1$10.7$6.07$4.64
2022Detailed filing. Detailed filing data is available for this year.$23.3$0.20$23.1$9.72$5.65$4.06
2021Detailed filing. Detailed filing data is available for this year.$19.2$0.22$19.0$8.87$4.78$4.09
2020Detailed filing. Detailed filing data is available for this year.$14.9$0.23$14.7$0.88$2.38$1.50
2019Detailed filing. Detailed filing data is available for this year.$16.2$0.27$15.9$8.10$6.01$2.09
2018Detailed filing. Detailed filing data is available for this year.$16.8$2.95$13.8$6.98$6.35$0.63
2017Detailed filing. Detailed filing data is available for this year.$16.6$3.42$13.2$6.83$6.49$0.34
2016Detailed filing. Detailed filing data is available for this year.$17.3$4.49$12.8$7.28$6.65$0.63
2015Detailed filing. Detailed filing data is available for this year.$17.3$5.11$12.2$6.44$6.36$0.08
2014Detailed filing. Detailed filing data is available for this year.$12.5$0.38$12.1$6.43$5.94$0.48
2013Detailed filing. Detailed filing data is available for this year.$11.9$0.26$11.7$6.76$5.96$0.80
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$1.83$10.9$5.74
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.0$2.73$10.3$5.77
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.6$3.57$10.1$5.42