Civic Intelligence

Central Florida Fair Inc.

990 • Fiscal year 2020 • EIN 59-0188975

Jun 01, 2019 to May 31, 2020 • Filed on Feb 02, 2021

4603 West Colonial DriveOrlando, FL 32808

(407) 295-3247

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.68x

Higher debt load relative to assets than 83% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

91st percentile

3.02x

Higher debt load relative to revenue than 91% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

13th percentile

-22%

Higher net margin than 13% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

63rd percentile

$150,689

Higher top officer pay than 63% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

16th percentile

-3.5%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

13th percentile

-33%

Faster revenue growth than 13% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Down

$8,289,770

Down $298,831 (-3.5%) from 2019

Net Assets

Down

$2,672,562

Down $415,382 (-13%) from 2019

Liabilities

Up

$5,617,208

Up $116,551 (+2.1%) from 2019

Revenue

Down

$1,857,564

Down $900,168 (-33%) from 2019

Expenses

Down

$2,272,946

Down $379,147 (-14%) from 2019

Net Income

Down

-$415,382

Down $521,021 (-493%) from 2019

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2011: $3,167,505Liabilities 2011: $719Net Assets 2011: $3,166,7862011Assets 2012: $3,086,361Liabilities 2012: $55,374Net Assets 2012: $3,030,9872012Assets 2013: $2,938,321Liabilities 2013: $129,425Net Assets 2013: $2,808,8962013Assets 2014: $3,311,122Liabilities 2014: $337,585Net Assets 2014: $2,973,5372014Assets 2015: $3,330,003Liabilities 2015: $349,005Net Assets 2015: $2,980,9982015Assets 2016: $4,599,685Liabilities 2016: $1,504,269Net Assets 2016: $3,095,4162016Assets 2017: $4,240,682Liabilities 2017: $1,501,338Net Assets 2017: $2,739,3442017Assets 2018: $4,447,333Liabilities 2018: $1,465,028Net Assets 2018: $2,982,3052018Assets 2019: $8,588,601Liabilities 2019: $5,500,657Net Assets 2019: $3,087,9442019Assets 2020: $8,289,770Liabilities 2020: $5,617,208Net Assets 2020: $2,672,5622020Assets 2021: $8,395,512Liabilities 2021: $5,775,646Net Assets 2021: $2,619,8662021Assets 2022: $10,116,384Liabilities 2022: $5,432,497Net Assets 2022: $4,683,8872022Assets 2023: $9,790,929Liabilities 2023: $5,271,341Net Assets 2023: $4,519,5882023

Highlighted filing

2020

Assets$8,289,770
Liabilities$5,617,208
Net Assets$2,672,562

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,662,0232011Expenses 2012: $1,794,4562012Expenses 2013: $1,806,0542013Revenue 2014: $1,933,043Expenses 2014: $1,768,402Net Income 2014: $164,6412014Revenue 2015: $1,568,740Expenses 2015: $1,561,279Net Income 2015: $7,4612015Revenue 2016: $2,143,861Expenses 2016: $2,029,443Net Income 2016: $114,4182016Revenue 2017: $1,541,631Expenses 2017: $1,897,703Net Income 2017: -$356,0722017Revenue 2018: $2,241,963Expenses 2018: $1,999,002Net Income 2018: $242,9612018Revenue 2019: $2,757,732Expenses 2019: $2,652,093Net Income 2019: $105,6392019Revenue 2020: $1,857,564Expenses 2020: $2,272,946Net Income 2020: -$415,3822020Revenue 2021: $2,545,959Expenses 2021: $2,598,653Net Income 2021: -$52,6942021Revenue 2022: $5,172,204Expenses 2022: $3,108,183Net Income 2022: $2,064,0212022Revenue 2023: $2,872,372Expenses 2023: $3,036,671Net Income 2023: -$164,2992023

Highlighted filing

2020

Revenue$1,857,564
Expenses$2,272,946
Net Income-$415,382
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Feb 2, 2021
Return Version
2019v5.0
Gross Receipts
$3,655,100
Mission and Program Overview

Mission

The central florida fair is an organization that provides numerous community activities. The organization's mission and most significant accomplishments are education in the areas of agriculture, science and industry, the arts and entertainment. Additionally, the central florida fair is a centralized common area for people to the community to gather. It strives to portray and provide resources for several counties including orange, seminole, brevard, lake, osceola and volusia.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,744,487$3,647,006▼ $97,481
Cash and Non-Interest-Bearing Accounts$3,980,172$921,887▼ $3,058,285
Prepaid Expenses and Deferred Charges$89,313$89,774▲ $461
Accounts Receivable$100,171$26,232▼ $73,939
Total Assets$8,588,601$8,289,770▼ $298,831
Other Assets Total$674,458$3,604,871▲ $2,930,413
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,000,000$5,093,605▲ $93,605
Other Liabilities$319,326$382,005▲ $62,679
Deferred Revenue$111,534$89,850▼ $21,684
Accounts Payable and Accrued Expenses$69,797$51,748▼ $18,049
Total Liabilities$5,500,657$5,617,208▲ $116,551
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,087,944$2,672,562▼ $415,382
Total Net Assets Fund Balance$3,087,944$2,672,562▼ $415,382
Total Liabilities and Net Assets / Fund Balance$8,588,601$8,289,770▼ $298,831

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,931,448$2,896,142$4,827,590
Land$1,189,128-$1,189,128
Equipment$526,430-$526,430
Other Assets Org$158,752--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Shawn KrauelPresidentFT$150,689$150,689

Board Members and Trustees

NameTitle
William E RuffierChair
Jennifer LagrangePast Chairma
Mark E CombsVice Chair
Chance GordyBoard Member
Charles RoperBoard Member
Craig BattersonBoard Member
Daryl CarterBoard Member
Don AsherBoard Member
Dr Bernard KahnBoard Member
Dr Joey BongiornoBoard Member
Drc Bruce GordyBoard Member
Drew DudaBoard Member
Fenimore CooperBoard Member
Fred Kittinger JrBoard Member
James SquillanteBoard Member
Jeff ClarkBoard Member
John JenningsBoard Member
Kevin PaffrathBoard Member
Leon HandleyBoard Member
Mercedes MccallBoard Member
Pete Barr JrBoard Member
Ralph MartinezBoard Member
Ray BoydBoard Member
Robert F StuartBoard Member
S Dean AsherBoard Member
Ted B EdwardsBoard Member
Vann ConoleyBoard Member
Vicky VargoBoard Member
W Scott GabrielsonBoard Member
Walter Carpenter JrBoard Member
Allen ArthurBoard Memebe
Palmer YergeyPast Preside
John MartinezTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,077,018
Investment Income
$0
Other Revenue
$-219,454
Change in Net Assets
$-415,382

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,857,564
Revenue Not Reported on Form 990
$1,797,536
Total Revenue per Audited Statements
$3,655,100
Total Revenue per Form 990
$1,857,564
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,948,115
Salaries, Compensation, and Employee Benefits$324,831
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$271,346$62,149-$333,495
Other Salaries and Wages$140,760$184,071-$324,831
Advertising$142,382--$142,382
Insurance$127,766--$127,766
Other Expenses$43,070$66,195-$109,265
Occupancy$58,012$28,514-$86,526
Depreciation Depletion$52,921--$52,921
Fees for Services Other-$14,680-$14,680
Interest$11,529--$11,529
Office Expenses$9,533$1,361-$10,894
Total Functional Expenses$1,915,976$356,970$0$2,272,946

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,070,482
Expenses per Audited Statements$2,272,946
Total Expenses per Form 990$2,272,946
Expenses Not Reported on Form 990$1,797,536
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
L.o.c.$247,584
N/p$134,421
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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 11B

A copy of form 990 was reviewed by the audit committee prior to filing.

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

The board of directors' executive committee monitors conflicts and compliance.

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

The board of directors' executive committee determines salaries through an employment contract which is reviewed annually.

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

The board of directors' executive committee determines salaries through an employment contract which is reviewed annually.

Form 990, Page 6, Part VI, Line 19

Documents available upon request

Filing and Contact Details

Filer

Filer Name
Central Florida Fair Inc
EIN
59-0188975
Phone
4072953247
Address
4603 WEST COLONIAL DRIVE, ORLANDO, FL 32808

Signing Officer

Name
Shawn Krauel
Title
President
Phone
4072953247
Signed
2021-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shawn Krauel
Formed
1910
Legal Domicile
Fl
Voting Board Members
34
Independent Board Members
34
Employees
67
Volunteers
200

Preparer

Firm
Mccrady & Associates Pllc
Address
107 WATER OAK LN, ALTAMONTE SPRINGS, FL 32714
Preparer
Stacy Mccrady
Phone
4079604429
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The central florida fair is an organization that provides numerous community activities. The organization's mission and most significant accomplishments are education in the areas of agriculture, science and industry, the arts and entertainment. Additionally, the central florida fair is a centralized common area for people to the community to gather. It strives to portray and provide resources for several counties including orange, seminole, brevard, lake, osceola and volusia.

Form 990, Part IX, Line 24E

Office supplies 43,280 49,474 0 premiums 79,908 0 0 equipment rentals 76,897 0 0 fair entertainment 67,426 0 0 auto and truck expenses 746 12,675 0 repairs and maintenance 3,089 0 0 total 271,346 62,149 0

Form 990, Part XI, Line 9

Rental expenses 1,797,536 rental expenses -1,797,536

Financial Statement Notes

Schedule D, Page 3, Part X

The fair is exempt from federal income taxes under section 501(c)(3) of the internal revenue code. However, income from certain activities not directly related to the fair's tax exempt purpose is subject to the taxation as unrelated business income. In addition, the fair qualifies for the charitable contribution deduction under section 170(b)(1)(a) and has been classified as an organization other than a private foundation under section 509(a)(2). Financial accounting standards board issued asc 740-10 (formerly known as fasb interpretation no. 48, accounting for uncertainty in income taxes), which prescribed a comprehensive model for how an organization should measure, recognize, present and disclose in its financial statements uncertain tax positions that an organization has taken or expects to take. The fair adopted asc 740-10 and has not taken any uncertain tax positions that require disclosure in the financial statements. The fair's income tax returns for 2016, 2017 and 2018 are subject to examination by tax authorities, and may change upon examination. No deferred tax assets or liabilities have been recognized for tax effects of temporary differences as of may 31, 2020, because no temporary differences exist. No deferred tax asset was recognized for the net operating loss carryforward after the application of a valuation allowance.

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

Rental expenses 1,797,536

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

Rental expenses 1,797,536

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IRS990/Form990PartVIISectionAGrp/TitleTxt30BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt31BOARD MEMBER
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$9.79$5.27$4.52$2.87$3.04$0.16
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$5.43$4.68$5.17$3.11$2.06
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.40$5.78$2.62$2.55$2.60$0.05
2020Detailed filing. Detailed filing data is available for this year.$8.29$5.62$2.67$1.86$2.27$0.42
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.59$5.50$3.09$2.76$2.65$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.45$1.47$2.98$2.24$2.00$0.24
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.24$1.50$2.74$1.54$1.90$0.36
2016Summary only. Only limited summary data is available for this year.$4.60$1.50$3.10$2.14$2.03$0.11
2015Summary only. Only limited summary data is available for this year.$3.33$0.35$2.98$1.57$1.56$0.01
2014Summary only. Only limited summary data is available for this year.$3.31$0.34$2.97$1.93$1.77$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.94$0.13$2.81$1.81
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.09$0.06$3.03$1.79
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.17$0.00$3.17$1.66