Civic Intelligence

Grayson County Fair Inc

990 • Fiscal year 2022 • EIN 61-1052444

Oct 01, 2021 to Sep 30, 2022 • Filed on Nov 17, 2022

Organization ProfileWWW.GRAYSONCOUNTYFAIR.NET
P O Box 425Leitchfield, KY 42755

(270) 259-9601

Siviq Scores

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

Liabilities / Assets

96th percentile

0.36x

Higher debt load relative to assets than 96% of similar nonprofits.

2022 filings • 501(c)5 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

94th percentile

0.27x

Higher debt load relative to revenue than 94% of similar nonprofits.

2022 filings • 501(c)5 • <$500k nonprofits • Source year 2022

Net Margin

70th percentile

13%

Higher net margin than 70% of similar nonprofits.

2022 filings • 501(c)5 • <$500k nonprofits • Source year 2022

Top Officer Pay

46th percentile

$0

Higher top officer pay than 46% of similar nonprofits.

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

2022 filings • 501(c)5 • <$500k nonprofits • Source year 2022

Asset Growth

77th percentile

12%

Faster asset growth than 77% of similar nonprofits.

2022 filings • 501(c)5 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

78th percentile

15%

Faster revenue growth than 78% of similar nonprofits.

2022 filings • 501(c)5 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$192,466

Up $20,768 (+12%) from 2021

Net Assets

Up

$123,359

Up $32,434 (+36%) from 2021

Liabilities

Down

$69,107

Down $11,666 (-14%) from 2021

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin70th percentile

Revenue

Up

$254,740

Up $32,461 (+15%) from 2021

Expenses

Up

$222,306

Up $40,390 (+22%) from 2021

Net Income

Down

$32,434

Down $7,929 (-20%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth77th percentile

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

$400K$300K$200K$100K$0Assets 2011: $301,959Liabilities 2011: $140,000Net Assets 2011: $161,9592011Assets 2012: $260,607Liabilities 2012: $130,000Net Assets 2012: $130,6072012Assets 2013: $261,826Liabilities 2013: $135,075Net Assets 2013: $126,7512013Assets 2014: $268,456Liabilities 2014: $165,000Net Assets 2014: $103,4562014Assets 2015: $255,690Liabilities 2015: $151,667Net Assets 2015: $104,0232015Assets 2016: $240,572Liabilities 2016: $140,000Net Assets 2016: $100,5722016Assets 2017: $176,952Liabilities 2017: $140,000Net Assets 2017: $36,9522017Assets 2018: $192,190Liabilities 2018: $136,667Net Assets 2018: $55,5232018Assets 2019: $184,902Liabilities 2019: $104,107Net Assets 2019: $80,7952019Assets 2020: $148,835Liabilities 2020: $98,273Net Assets 2020: $50,5622020Assets 2021: $171,698Liabilities 2021: $80,773Net Assets 2021: $90,9252021Assets 2022: $192,466Liabilities 2022: $69,107Net Assets 2022: $123,3592022Assets 2023: $227,113Liabilities 2023: $52,440Net Assets 2023: $174,6732023Assets 2024: $231,943Liabilities 2024: $37,055Net Assets 2024: $194,8882024Assets 2025: $387,161Liabilities 2025: $37,055Net Assets 2025: $350,1062025

Highlighted filing

2022

Assets$192,466
Liabilities$69,107
Net Assets$123,359
Open 2022 Filing

Operations Trend

Revenue Growth78th percentile

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

$600K$400K$200K$0-$200KRevenue 2011: $49,171Expenses 2011: $68,183Net Income 2011: -$19,0122011Expenses 2012: $71,7442012Expenses 2013: $71,5232013Revenue 2014: $53,666Expenses 2014: $76,961Net Income 2014: -$23,2952014Revenue 2015: $72,977Expenses 2015: $72,410Net Income 2015: $5672015Revenue 2016: $60,051Expenses 2016: $63,502Net Income 2016: -$3,4512016Revenue 2017: $2,976Expenses 2017: $66,596Net Income 2017: -$63,6202017Revenue 2018: $272,506Expenses 2018: $253,935Net Income 2018: $18,5712018Revenue 2019: $275,695Expenses 2019: $250,423Net Income 2019: $25,2722019Revenue 2020: $41,535Expenses 2020: $71,768Net Income 2020: -$30,2332020Revenue 2021: $222,279Expenses 2021: $181,916Net Income 2021: $40,3632021Revenue 2022: $254,740Expenses 2022: $222,306Net Income 2022: $32,4342022Revenue 2023: $322,921Expenses 2023: $271,607Net Income 2023: $51,3142023Revenue 2024: $312,846Expenses 2024: $292,631Net Income 2024: $20,2152024Revenue 2025: $478,600Expenses 2025: $323,382Net Income 2025: $155,2182025

Highlighted filing

2022

Revenue$254,740
Expenses$222,306
Net Income$32,434
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2021 to Sep 30, 2022
Signed
Nov 17, 2022
Return Version
2021v4.0
Gross Receipts
$254,740
Mission and Program Overview

Mission

To provide a community-based environment for recreation, fellowship and education through a county fair and other activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$121,503$113,744▼ $7,759
Cap Stk Tr Prin Current Funds$50,562$90,927▲ $40,365
Cash and Non-Interest-Bearing Accounts$50,195$78,722▲ $28,527
Rtn Earn Endowment Incm Other Fnds$40,363$32,432▼ $7,931
Total Assets$171,698$192,466▲ $20,768
Liabilities
Mortgage Notes Payable Secured by Investment Property$80,773$69,107▼ $11,666
Total Liabilities$80,773$69,107▼ $11,666
Net Assets / Fund Balance
Total Net Assets Fund Balance$90,925$123,359▲ $32,434
Total Liabilities and Net Assets / Fund Balance$171,698$192,466▲ $20,768

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$88,119$421,253$509,372
Other Land Buildings$18,625$216,768$235,393
Land$7,000-$7,000
Compensation and Service Providers
Top Officer Pay46th percentile

Board Members and Trustees

NameTitle
Tony SwiftPresident
Keith GallowayAlt Director
Adam WilliamsDirector
Blake AubreyDirector
Brian PierceDirector
Jayme PharisDirector
Kevin PharisDirector
Rhonda WhiteDirector
Richard EmbryDirector
Tyler HarrellDirector
Todd CaveSecretary
William ThomasonTreasurer
Keith JonesVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$3,928
Program Service Revenue
$243,339
Investment Income
$0
Other Revenue
$7,473
All Other Contributions
$2,500
Change in Net Assets
$32,434
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$222,306
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
Insurance$22,636--$22,636
All Other Expenses$17,479--$17,479
Other Expenses$13,345--$13,345
Depreciation Depletion$12,167--$12,167
Conferences and Meetings$5,607--$5,607
Advertising$4,707--$4,707
Interest$4,057--$4,057
Fees for Services Accounting-$1,870-$1,870
Total Functional Expenses$220,436$1,870$0$222,306
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Officer OwnedInsuranceNo$7,728
-Officer OwnedInsuranceNo$2,221
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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

“Kevin pharis jayme pharis director director daughter”

Form 990, Page 6, Part VI, Line 6

“Organization has stockholders.”

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

“The 990 is reviewed by the governing body and approved prior to filing.”

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

“Conflict of interest policy is regularly and consistently monitored by the governing body who enforces compliance with the policy. This is done through review and discussion at board meetings.”

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

“Compensation of ceo, executive director, or top management is determined by the approval of board members and review of such arrangements.”

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

“The entity does not have any employees, therefore, the compensation policy does not apply.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Grayson County Fair Inc
EIN
61-1052444
Phone
2702599601
Address
P O BOX 425, LEITCHFIELD, KY 42755

Signing Officer

Name
William Thomason
Title
Treasurer
Phone
2702599601
Signed
2022-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Thomason
Formed
1951
Legal Domicile
Ky
Voting Board Members
13
Independent Board Members
13
Employees
0

Preparer

Firm
Buckles Travis & Hart Pllc
Address
PO BOX 4069, LEITCHFIELD, KY 42755-4069
Preparer
Dennis R Buckles
Phone
2702595604
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

“To provide a community-based environment for recreation, fellowship and education through a county fair and other activities.”

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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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IRS990/PYTotalExpensesAmt0181916
IRS990/PYTotalRevenueAmt0222279
IRS990/ReconcilationRevenueExpnssAmt032434
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt040363
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt032432
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt088119
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0421253
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0509372
IRS990ScheduleD/LandGrp/BookValueAmt07000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt07000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt018625
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0216768
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0235393
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0113744
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0GRAYSON COUNTY FARM BUREAU
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1GRAYSON COUNTY INSURANCE ASSOCIATES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OFFICER OWNED
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1OFFICER OWNED
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt07728
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt12221
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0INSURANCE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1INSURANCE
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE A COMMUNITY-BASED ENVIRONMENT FOR RECREATION, FELLOWSHIP AND EDUCATION THROUGH A COUNTY FAIR AND OTHER ACTIVITIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1KEVIN PHARIS JAYME PHARIS DIRECTOR DIRECTOR DAUGHTER
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION HAS STOCKHOLDERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 990 IS REVIEWED BY THE GOVERNING BODY AND APPROVED PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONFLICT OF INTEREST POLICY IS REGULARLY AND CONSISTENTLY MONITORED BY THE GOVERNING BODY WHO ENFORCES COMPLIANCE WITH THE POLICY. THIS IS DONE THROUGH REVIEW AND DISCUSSION AT BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION OF CEO, EXECUTIVE DIRECTOR, OR TOP MANAGEMENT IS DETERMINED BY THE APPROVAL OF BOARD MEMBERS AND REVIEW OF SUCH ARRANGEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ENTITY DOES NOT HAVE ANY EMPLOYEES, THEREFORE, THE COMPENSATION POLICY DOES NOT APPLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0171698
IRS990/TotalAssetsEOYAmt0192466
IRS990/TotalAssetsGrp/BOYAmt0171698
IRS990/TotalAssetsGrp/EOYAmt0192466
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03928
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01870
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0220436
IRS990/TotalFunctionalExpensesGrp/TotalAmt0222306
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt080773
IRS990/TotalLiabilitiesEOYAmt069107
IRS990/TotalLiabilitiesGrp/BOYAmt080773
IRS990/TotalLiabilitiesGrp/EOYAmt069107
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt090925
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0123359
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt02515
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt02515
IRS990/TotalProgramServiceRevenueAmt0243339
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0250812
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0254740
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0171698
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0192466
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0P O BOX 425
IRS990/USAddress/CityNm0LEITCHFIELD
IRS990/USAddress/StateAbbreviationCd0KY
IRS990/USAddress/ZIPCd042755
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.GRAYSONCOUNTYFAIR.NET
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM THOMASON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02702599601
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0GRAYSON COUNTY FAIR INC
ReturnHeader/Filer/BusinessNameControlTxt0GRAY
ReturnHeader/Filer/EIN0611052444
ReturnHeader/Filer/PhoneNum02702599601
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 425
ReturnHeader/Filer/USAddress/CityNm0LEITCHFIELD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0KY
ReturnHeader/Filer/USAddress/ZIPCd042755
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0611189912
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUCKLES TRAVIS & HART PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 4069
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LEITCHFIELD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0KY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0427554069
ReturnHeader/PreparerPersonGrp/PhoneNum02702595604
ReturnHeader/PreparerPersonGrp/PreparationDt02022-11-17
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DENNIS R BUCKLES
ReturnHeader/ReturnTs02022-11-30T14:06:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILLIAM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0THOMASON
ReturnHeader/TaxPeriodBeginDt02021-10-01
ReturnHeader/TaxPeriodEndDt02022-09-30
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$192,466
Liabilities
$69,107
Net assets
$123,359
Revenue
$254,740
Expenses
$222,306
Net income
$32,434
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.87$0.37$3.50$4.79$3.23$1.55
2024Detailed filing. Detailed filing data is available for this year.$2.32$0.37$1.95$3.13$2.93$0.20
2023Detailed filing. Detailed filing data is available for this year.$2.27$0.52$1.75$3.23$2.72$0.51
2022Detailed filing. Detailed filing data is available for this year.$1.92$0.69$1.23$2.55$2.22$0.32
2021Detailed filing. Detailed filing data is available for this year.$1.72$0.81$0.91$2.22$1.82$0.40
2020Summary only. Only limited summary data is available for this year.$1.49$0.98$0.51$0.42$0.72$0.30
2019Detailed filing. Detailed filing data is available for this year.$1.85$1.04$0.81$2.76$2.50$0.25
2018Detailed filing. Detailed filing data is available for this year.$1.92$1.37$0.56$2.73$2.54$0.19
2017Detailed filing. Detailed filing data is available for this year.$1.77$1.40$0.37$0.03$0.67$0.64
2016Detailed filing. Detailed filing data is available for this year.$2.41$1.40$1.01$0.60$0.64$0.03
2015Detailed filing. Detailed filing data is available for this year.$2.56$1.52$1.04$0.73$0.72$0.01
2014Detailed filing. Detailed filing data is available for this year.$2.68$1.65$1.03$0.54$0.77$0.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$1.35$1.27$0.72
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.61$1.30$1.31$0.72
2011Summary only. Only limited summary data is available for this year.$3.02$1.40$1.62$0.49$0.68$0.19