Civic Intelligence

Grayson County Fair Inc

990 • Fiscal year 2023 • EIN 61-1052444

Oct 01, 2022 to Sep 30, 2023 • Filed on Nov 07, 2023

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

94th percentile

0.23x

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

2023 filings • 501(c)5 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

92nd percentile

0.16x

Higher debt load relative to revenue than 92% of similar nonprofits.

2023 filings • 501(c)5 • <$500k nonprofits • Source year 2023

Net Margin

75th percentile

16%

Higher net margin than 75% of similar nonprofits.

2023 filings • 501(c)5 • <$500k nonprofits • Source year 2023

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.

2023 filings • 501(c)5 • <$500k nonprofits • Source year 2023

Asset Growth

83rd percentile

18%

Faster asset growth than 83% of similar nonprofits.

2023 filings • 501(c)5 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

86th percentile

27%

Faster revenue growth than 86% of similar nonprofits.

2023 filings • 501(c)5 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets94th percentile

Assets

Up

$227,113

Up $34,647 (+18%) from 2022

Net Assets

Up

$174,673

Up $51,314 (+42%) from 2022

Liabilities

Down

$52,440

Down $16,667 (-24%) from 2022

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin75th percentile

Revenue

Up

$322,921

Up $68,181 (+27%) from 2022

Expenses

Up

$271,607

Up $49,301 (+22%) from 2022

Net Income

Up

$51,314

Up $18,880 (+58%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth83rd 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

2023

Assets$227,113
Liabilities$52,440
Net Assets$174,673
Open 2023 Filing

Operations Trend

Revenue Growth86th 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

2023

Revenue$322,921
Expenses$271,607
Net Income$51,314
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Nov 7, 2023
Return Version
2022v5.0
Gross Receipts
$322,921
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
Cash and Non-Interest-Bearing Accounts$78,722$125,756▲ $47,034
Cap Stk Tr Prin Current Funds$90,927$123,361▲ $32,434
Land, Buildings, and Equipment, Net$113,744$101,357▼ $12,387
Rtn Earn Endowment Incm Other Fnds$32,432$51,312▲ $18,880
Total Assets$192,466$227,113▲ $34,647
Liabilities
Mortgage Notes Payable Secured by Investment Property$69,107$52,440▼ $16,667
Total Liabilities$69,107$52,440▼ $16,667
Net Assets / Fund Balance
Total Net Assets Fund Balance$123,359$174,673▲ $51,314
Total Liabilities and Net Assets / Fund Balance$192,466$227,113▲ $34,647

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$78,716$430,656$509,372
Other Land Buildings$15,641$219,752$235,393
Land$7,000-$7,000
Compensation and Service Providers
Top Officer Pay46th percentile

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$3,879
Program Service Revenue
$298,099
Investment Income
$0
Other Revenue
$20,943
All Other Contributions
$2,500
Change in Net Assets
$51,314
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$271,607
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
All Other Expenses$22,689--$22,689
Insurance$22,440--$22,440
Other Expenses$13,062--$13,062
Depreciation Depletion$12,386--$12,386
Advertising$6,446--$6,446
Conferences and Meetings$5,119--$5,119
Interest$3,473--$3,473
Fees for Services Accounting-$1,670-$1,670
Office Expenses$355--$355
Total Functional Expenses$269,937$1,670$0$271,607
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$8,627
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
2023-11-07
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/PYOtherExpensesAmt0222306
IRS990/PYOtherRevenueAmt07473
IRS990/PYProgramServiceRevenueAmt0243339
IRS990/PYRevenuesLessExpensesAmt032434
IRS990/PYTotalExpensesAmt0222306
IRS990/PYTotalRevenueAmt0254740
IRS990/ReconcilationRevenueExpnssAmt051314
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt032432
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt051312
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt078716
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0430656
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0509372
IRS990ScheduleD/LandGrp/BookValueAmt07000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt07000
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt015641
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0219752
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0235393
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0101357
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0GRAYSON COUNTY FARM BUREAU
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0OFFICER OWNED
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt08627
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0INSURANCE
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/TotalAssetsBOYAmt0192466
IRS990/TotalAssetsEOYAmt0227113
IRS990/TotalAssetsGrp/BOYAmt0192466
IRS990/TotalAssetsGrp/EOYAmt0227113
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03879
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01670
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0269937
IRS990/TotalFunctionalExpensesGrp/TotalAmt0271607
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt069107
IRS990/TotalLiabilitiesEOYAmt052440
IRS990/TotalLiabilitiesGrp/BOYAmt069107
IRS990/TotalLiabilitiesGrp/EOYAmt052440
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0123359
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0174673
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt02522
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt02522
IRS990/TotalProgramServiceRevenueAmt0298099
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0319042
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0322921
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0192466
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0227113
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WILLIAM THOMASON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02702599601
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-07
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/IRSResponsiblePrtyInfoCurrInd0false
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/PreparationDt02023-11-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DENNIS R BUCKLES
ReturnHeader/ReturnTs02023-11-08T17:40:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0WILLIAM
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0THOMASON
ReturnHeader/TaxPeriodBeginDt02022-10-01
ReturnHeader/TaxPeriodEndDt02023-09-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$227,113
Liabilities
$52,440
Net assets
$174,673
Revenue
$322,921
Expenses
$271,607
Net income
$51,314
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