Civic Intelligence

South Florida Fair & Palm Beach

EIN 59-0870057 • 501(c)3 • West Palm Beach, FL

Profile

The south florida fair and palm beach county expositions, inc. Is a non-profit corporation whose purpose is to preserve and promote the agricultural, trade, entertainment and historical heritage of our community.

PO Box 210367West Palm Beach, FL 33421-0367

www.southfloridafair.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

46th percentile

0.18x

Higher debt load relative to assets than 46% of similar nonprofits.

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

Liabilities / Revenue

50th percentile

0.28x

Higher debt load relative to revenue than 50% of similar nonprofits.

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

Net Margin

77th percentile

22%

Higher net margin than 77% of similar nonprofits.

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

Top Officer Pay

52nd percentile

$267,067

Higher top officer pay than 52% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

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

Asset Growth

72nd percentile

13%

Faster asset growth than 72% of similar nonprofits.

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

Revenue Growth

79th percentile

27%

Faster revenue growth than 79% of similar nonprofits.

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

Assets

Up

$38,307,019

Up $4,388,697 (+13%) from 2022

Liabilities

Down

$6,962,653

Down $947,389 (-12%) from 2022

Net Assets

Up

$31,344,366

Up $5,336,086 (+21%) from 2022

Revenue

Up

$24,501,820

Up $5,132,937 (+27%) from 2022

Expenses

Up

$19,165,734

Up $2,517,179 (+15%) from 2022

Net Income

Up

$5,336,086

Up $2,615,758 (+96%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2010: $29,286,963Liabilities 2010: $14,868,461Net Assets 2010: $14,418,5022010Assets 2011: $28,395,710Liabilities 2011: $13,487,744Net Assets 2011: $14,907,9662011Assets 2012: $29,436,164Liabilities 2012: $13,424,466Net Assets 2012: $16,011,6982012Assets 2013: $29,060,737Liabilities 2013: $12,476,411Net Assets 2013: $16,584,3262013Assets 2014: $29,444,810Liabilities 2014: $12,300,814Net Assets 2014: $17,143,9962014Assets 2015: $31,113,929Liabilities 2015: $12,405,637Net Assets 2015: $18,708,2922015Assets 2016: $31,319,044Liabilities 2016: $11,620,559Net Assets 2016: $19,698,4852016Assets 2017: $31,784,494Liabilities 2017: $10,912,176Net Assets 2017: $20,872,3182017Assets 2018: $32,010,020Liabilities 2018: $10,234,925Net Assets 2018: $21,775,0952018Assets 2019: $30,838,367Liabilities 2019: $9,388,405Net Assets 2019: $21,449,9622019Assets 2020: $31,644,888Liabilities 2020: $9,692,686Net Assets 2020: $21,952,2022020Assets 2021: $32,703,938Liabilities 2021: $9,415,986Net Assets 2021: $23,287,9522021Assets 2022: $33,918,322Liabilities 2022: $7,910,042Net Assets 2022: $26,008,2802022Assets 2023: $38,307,019Liabilities 2023: $6,962,653Net Assets 2023: $31,344,3662023

Highlighted filing

2023

Assets$38,307,019
Liabilities$6,962,653
Net Assets$31,344,366

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$30M$20M$10M$0-$10MExpenses 2010: $10,368,4282010Revenue 2011: $11,238,066Expenses 2011: $10,748,602Net Income 2011: $489,4642011Revenue 2012: $13,679,410Expenses 2012: $12,575,678Net Income 2012: $1,103,7322012Revenue 2013: $13,440,241Expenses 2013: $12,852,847Net Income 2013: $587,3942013Revenue 2014: $13,610,861Expenses 2014: $13,099,333Net Income 2014: $511,5282014Revenue 2015: $15,658,425Expenses 2015: $14,090,644Net Income 2015: $1,567,7812015Revenue 2016: $15,520,611Expenses 2016: $14,539,355Net Income 2016: $981,2562016Revenue 2017: $16,919,734Expenses 2017: $15,729,227Net Income 2017: $1,190,5072017Revenue 2018: $17,008,100Expenses 2018: $16,105,323Net Income 2018: $902,7772018Revenue 2019: $15,498,367Expenses 2019: $15,823,500Net Income 2019: -$325,1332019Revenue 2020: $16,387,036Expenses 2020: $15,884,796Net Income 2020: $502,2402020Revenue 2021: $15,373,950Expenses 2021: $14,038,200Net Income 2021: $1,335,7502021Revenue 2022: $19,368,883Expenses 2022: $16,648,555Net Income 2022: $2,720,3282022Revenue 2023: $24,501,820Expenses 2023: $19,165,734Net Income 2023: $5,336,0862023

Highlighted filing

2023

Revenue$24,501,820
Expenses$19,165,734
Net Income$5,336,086

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.3$6.96$31.3$24.5$19.2$5.34
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.9$7.91$26.0$19.4$16.6$2.72
2021Summary only. Only limited summary data is available for this year.$32.7$9.42$23.3$15.4$14.0$1.34
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$31.6$9.69$22.0$16.4$15.9$0.50
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.8$9.39$21.4$15.5$15.8$0.33
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.0$10.2$21.8$17.0$16.1$0.90
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.8$10.9$20.9$16.9$15.7$1.19
2016Detailed filing. Detailed filing data is available for this year.$31.3$11.6$19.7$15.5$14.5$0.98
2015Detailed filing. Detailed filing data is available for this year.$31.1$12.4$18.7$15.7$14.1$1.57
2014Detailed filing. Detailed filing data is available for this year.$29.4$12.3$17.1$13.6$13.1$0.51
2013Summary only. Only limited summary data is available for this year.$29.1$12.5$16.6$13.4$12.9$0.59
2012Summary only. Only limited summary data is available for this year.$29.4$13.4$16.0$13.7$12.6$1.10
2011Summary only. Only limited summary data is available for this year.$28.4$13.5$14.9$11.2$10.7$0.49
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.3$14.9$14.4$10.4
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 15, 2023
Return Version
2022v5.0
Gross Receipts
$24,530,512
Mission and Program Overview

Mission

The south florida fair and palm beach county expositions, inc. Is a non-profit corporation whose purpose is to preserve and promote the agricultural, trade, entertainment and historical heritage of our community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,289,226$21,632,213▲ $342,987
Savings and Temporary Cash Investments$2,319,919$13,759,359▲ $11,439,440
Cash and Non-Interest-Bearing Accounts$8,433,684$1,482,701▼ $6,950,983
Accounts Receivable$1,280,062$1,142,700▼ $137,362
Prepaid Expenses and Deferred Charges$261,037$288,546▲ $27,509
Total Assets$33,918,322$38,307,019▲ $4,388,697
Other Assets Total$334,394$1,500▼ $332,894
Liabilities
Tax Exempt Bond Liabilities$6,723,103$5,533,025▼ $1,190,078
Accounts Payable and Accrued Expenses$871,588$974,798▲ $103,210
Deferred Revenue$315,351$454,830▲ $139,479
Total Liabilities$7,910,042$6,962,653▼ $947,389
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$25,938,642$31,292,370▲ $5,353,728
Net Assets With Donor Restrictions$69,638$51,996▼ $17,642
Total Net Assets Fund Balance$26,008,280$31,344,366▲ $5,336,086
Total Liabilities and Net Assets / Fund Balance$33,918,322$38,307,019▲ $4,388,697

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$13,971,869$27,190,632$41,162,501
Equipment$1,184,571$5,424,206$6,608,777
Land$6,354,641-$6,354,641
Other Land Buildings$121,132$252,232$373,364
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Victoria a ChourisPresident/CEOFT$217,811$49,256$267,067
Matthew WallsmithVP & CFOFT$197,225$25,807$223,032
Nancy BrashearDirector of Business DevelopmentFT$107,906$9,135$117,041
Rita DemierDirector of Brand DevelopmentFT$104,520$11,733$116,253
Anabell MannersExpo Sales ManagerFT$107,686$959$108,645

Board Members and Trustees

NameTitle
Robert WeismanChair
Dennis GradyImmediate Past Chair
Rebecca IsimingerVice Chair
David J DemayTrustee
Donald P DufresneTrustee
Donna WintersonTrustee
Glenn JergensenTrustee
Greg RiceTrustee
John M SeversonTrustee
Kelly SmallridgeTrustee
Mabel DatenaTrustee
Michael E GaugerTrustee
Patrick FranklinTrustee
Paul GroseTrustee
Robert D ShorrTrustee
Lance C FuchsGeneral Counsel/assist. Secretary
Paul AllenSecretary
Theresa LeporeTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Wade Shows INCMidway RidesPO BOX 51730, Livonia, MI 48151$2,032,316
Palm Beach County Sheriff's DepartmentSecurityPO BOX 24681, West Palm Beach, FL 33416$598,569
Stage & Sports AudioStage Lighting & Sound365 N BRADLEY ROAD, Charlotte, MI 48813$334,443
Blaine Kern Artists INCEntertainment (parade Floats)1380 PORT OF NEW ORLEANS PL, New Orleans, LA 70130$247,600
Oklahoma Saved By GraceSecurity3102 CLASSEN BLVD 180, Oklahoma City, OK 73118$188,470
Revenue and Support

Revenue Composition

Contributions and Grants
$78,945
Program Service Revenue
$22,867,095
Investment Income
$489,728
Other Revenue
$1,066,052
All Other Contributions
$57,145
Change in Net Assets
$5,336,086

Audited Revenue Reconciliation

Revenue per Audited Statements
$24,501,820
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$28,692
Total Revenue per Audited Statements
$24,530,512
Total Revenue per Form 990
$24,501,820
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,296,975
Salaries, Compensation, and Employee Benefits$5,803,259
Grants and Similar Amounts Paid$65,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,895,144$1,609,055-$4,504,199
Depreciation Depletion$1,309,105$145,456-$1,454,561
Occupancy$1,034,085$242,175-$1,276,260
All Other Expenses$667,553$550,651-$1,218,204
Other Expenses$965,328$25,131-$990,459
Advertising$813,670$69,783-$883,453
Insurance$586,374$191,957-$778,331
Office Expenses$598,483$72,957-$671,440
Current Officers, Directors, Trustees, and Key Employees$315,353$169,806-$485,159
Other Employee Benefits$247,552$137,083-$384,635
Payroll Taxes$195,453$129,576-$325,029
Interest$207,328$23,036-$230,364
Pension Plan Contributions$67,754$36,483-$104,237
Fees for Services Legal$91,532--$91,532
Grants to Domestic Individuals$65,500--$65,500
Fees for Services Accounting-$61,000-$61,000
Total Functional Expenses$15,701,585$3,464,149$0$19,165,734

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$19,194,426
Expenses per Audited Statements$19,165,734
Total Expenses per Form 990$19,165,734
Expenses Not Reported on Form 990$28,692
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$34,909
Fundraising Direct Expenses$28,692
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$43,999$22,199$864$21,335
Silent Auction$12,710$12,710$1,445$11,265
Total Events$56,709$34,909$28,692$6,217
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Tobin NotmanFirm Partner Is an OfficerLegal ServicesNo$125,000
-CEO Is a TrusteeChamber FeesNo$5,680
-Vp of Performance Is a TrusteeAuto PartsNo$4,022
-Spouse of COOMaterials and Labor for Expo Display Props and Other Carpentry ProjectsNo$1,247
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
APalm Beach County Florida2022-09-23$5,700,000Refund a prior bond issue dated 8/27/2010

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$5,700,000--$94,293

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
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
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
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, Part VI, Section B, Line 11B

A draft copy of the form 990 is emailed to the trustees for an independent review. The trustees may make inquiries and discuss questions they have with staff, which may make or recommend changes to the draft return. After all inquiries are cleared and adjustments made, if any, the tax preparer submits a second draft to the staff for the final review and approval.

Form 990, Part VI, Section B, Line 12C

All officers, trustees, directors and key employees are required to disclose any conflict of interest as it arises. A conflict of interest disclosure and certificate of compliance are required from all board members every year. The south florida fair requires all board members to comply with the organization's corporate governance guidelines and board members' code of conduct. Included in this disclosure are organizations, partnerships, corporations, businesses or other legal entities, whether for profit or notforprofit, in which the undersigned is a director, trustee, officer, partner, employee, and/or owns or controls more than 5% of the voting securities. These forms are completed, signed, and turned into the ceo who reviews and files the disclosures. Any potential conflict is brought to the attention of the board of trustees and disclosed. Potential conflicts are also brought to the attention of key staff members and legal counsel to determine the appropriate actions that need to take place to remain in compliance with all rules and regulations.

Form 990, Part VI, Section B, Line 15

The compensation of the president/ceo is set by contract, which is reviewed by the officers of the board of trustees meeting as a compensation committee. The terms of the contract are discussed at length and voted on by the members of this committee. Following approval, the contract is brought before the entire board of trustees for final approval.

Form 990, Part VI, Section C, Line 19

Requests to review the organization's governing documents, conflict of interest policy and financial statements may be written or oral, but has to be made directly to the organization. Persons making the request for the documents receive the documents in the format they request them to be sent, whether by mail, fax or email.

Filing and Contact Details

Filer

Filer Name
South Florida Fair & Palm Beach
EIN
59-0870057
Phone
5617930333
Address
PO BOX 210367, WEST PALM BEACH, FL 33421-0367

Signing Officer

Name
Victoria Chouris
Title
CEO
Phone
5617930333
Signed
2023-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Victoria Chouris
Formed
1976
Legal Domicile
Fl
Voting Board Members
17
Independent Board Members
17
Employees
510
Volunteers
600

Preparer

Firm
Templeton & Company Llp
Address
201 EAST LAS OLAS BLVD STE 1650, FORT LAUDERDALE, FL 33301
Preparer
Walt Maxwell
Phone
9543330001
Supplemental Narrative

Financial Statement Notes

PART III, LINE 4:

Historical artifacts, which were acquired through purchases and contributions since the organization's inception, are not recognized as assets on the statements of financial position. The organization's historical artifacts include buildings and exhibits of historical significance that are held for public exhibition and educational purposes.

PART X, LINE 2:

The organization evaluates its uncertain tax positions in accordance with fasb asc 740, income taxes, which states that management's determination of the taxable status of an entity, including its status as a tax-exempt entity, is a tax position subject to the standards required for accounting for uncertainty in income taxes. Management does not believe that the organization has any significant uncertain tax positions that would be material to the financial statements.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising expenses 28,692.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising expenses 28,692.

Raw XML AppendixShowing 400 of 774 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/Desc0THE PRIMARY PURPOSE OF THE SOUTH FLORIDA FAIR AND PALM BEACH COUNTY EXPOSITIONS, INC. IS TO PRODUCE THE ANNUAL SOUTH FLORIDA FAIR. THE FAIR IS A STATE CHARTERED DISTRICT AGRICULTURAL FAIR SHOWCASING THE SOUTH FLORIDA AREA. THE FAIR ACCEPTS ENTRIES INTO ITS AGRICULTURAL AND EDUCATIONAL COMPETITIONS FROM THE FIVE COUNTIES THAT IT IS CHARTERED TO SERVE: PALM BEACH, MARTIN, BROWARD, OKEECHOBEE AND HENDRY. WITH THE EVOLVING NATURE OF THE AGRICULTURAL INDUSTRY IN FLORIDA, WE ALSO ENCOURAGE YOUTH IN 18 FLORIDA COUNTIES TO BECOME INVOLVED IN OUR COMPETITIVE LIVESTOCK AND AGRICULTURE PROGRAMS. THROUGH THIS OUTREACH, WE HOPE TO PROMOTE THE GROWTH OF SUCH PROGRAMS THROUGHOUT FLORIDA. HIGHLIGHTS ARE A LIVESTOCK DISPLAY ENCOMPASSING OVER EIGHT ACRES, A YOUTH HORTICULTURAL DISPLAY, HUNDREDS OF YOUTH 4H AND FFA EXHIBITS AND SEVERAL PROGRAMS WHICH CONCENTRATE ON THE YOUTH OF OUR AREA THROUGH COOPERATION WITH THE LOCAL SCHOOL DISTRICT.THROUGHOUT THE REMAINDER OF THE CALENDAR YEAR, THE FAIRGROUNDS OFFERS ITS FACILITIES TO VARIOUS GROUPS AND ORGANIZATIONS WHOSE EMPHASIS IS THE BETTERMENT OF THE COMMUNITY, INCLUDING THE SCHOOL DISTRICT SCIENCE FAIR, THE SCHOOL DISTRICT'S COLLEGE AND CAREER NIGHTS, PALM BEACH COUNTY SHERIFF'S DEPARTMENT, FLORIDA NURSERY GROWER'S ASSOCIATION, AND THE DEPARTMENT OF AGRICULTURE TO NAME A FEW. THE FAIR ALSO PROVIDES SEVERAL EDUCATIONAL OPPORTUNITIES TO LOCAL ELEMENTARY SCHOOL STUDENTS. THESE INCLUDE SCHOOL TOURS HIGHLIGHTING THE HISTORY OF EARLY FLORIDA IN THE FAIR'S YESTERYEAR VILLAGE, SCHOOL TOURS OF THE FAIR'S EXTENSIVE AGRICULTURAL EXHIBITS DURING THE ANNUAL SOUTH FLORIDA FAIR, PROGRAMS IN EMBRIOLOGY AND A PROGRAM THAT ENCOURAGES STUDENTS TO READ BOOKS ABOUT AGRICULTURE OR WITH THEMES THAT CENTER ON AGRICULTURE. FINALLY, THE FAIR ASSISTS LOCAL YOUTH THROUGH ITS SCHOLARSHIP FUND, WHICH SINCE THE EARLY 1980'S, HAS SUPPLIED OVER $600,000 IN GRANTS TO WORTHWHILE STUDENTS. GRANTS PAID FOR THE CURRENT YEAR TOTALED $65,500.
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IRS990/MissionDesc0THE SOUTH FLORIDA FAIR AND PALM BEACH COUNTY EXPOSITIONS, INC. IS A NON-PROFIT CORPORATION WHOSE PURPOSE IS TO PRESERVE AND PROMOTE THE AGRICULTURAL, TRADE, ENTERTAINMENT AND HISTORICAL HERITAGE OF OUR COMMUNITY.
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