State Fair of Texas

“FORM 990, PART VI, SECTION A, LINE 1(a): The Board of Directors comprises at least 15 but no more than 20 voting members. SFT's amended bylaws state that SFT shall have General Counsel serve as an ex-officio, non-voting member of the Board of Directors; additionally, each past Chairman of the Board, except for the immediate past chairman of the Board of Directors, shall be an ex-officio, non-voting member of the Board of Directors. The amended bylaws also create a Board of Advisors whose members act in an advisory capacity only and do not have voting rights.”

“form 990, Part VI, Section B, line 11(b): The Form 990 was reviewed in detail with the Finance/Audit Committee. The Form 990 was then distributed to all members of the Board of Directors prior to filing.”

“FORM 990, PART VI, SECTION B, LINE 12(C): SFT performs an annual survey of its directors, officers, and key employees regarding any business or family relationships with SFT or with other of the organization's directors, officers, and key employees. Any potential conflicts of interest are reviewed by the Finance/Audit Committee which recommends any necessary corrective action to the Board of Directors.”

“FORM 990, PART VI, SECTION B, LINES 15(B): SFT's independent board determines the compensation for the president using comparability data. Each employee must complete written goals and objectives for their operating area which is approved by the president. The president makes assessments of all employees' (excluding himself) performance and achievement of written goals and objectives, and their target incentive compensation percentage and makes recommendations to the finance/audit committee of the board of directors. The finance/audit committee deliberates on the recommendations and any incentive compensation for the president without State Fair management present and makes a recommendation to the Board of Directors. The board of directors deliberates and decides on the final State Fair management incentive compensation without management present. All such decisions of the board of directors are documented with contemporaneous minutes of its meetings. The finance/audit committee regularly requests third-party compensation studies performed by a national accounting and consulting firm to ensure the State Fair's compensation for senior staff members is within a competitive and acceptable range, in accordance with the IRS and Department of the Treasury "Rebuttable Presumption" federal regulation (26 CFR 53.4958-6). The firm provides this analysis independently under the AICPA Independence Standards."”

“FORM 990, PART VI, SECTION C, LINE 19: SFT makes the following documents available to the general public on SFT's website at www.bigtex.com: Amended and Restated Bylaws, Restated Certificate of Formation, Conflict of Interest/Ethics Policy, Finance/Audit Committee Charter, annual reports, and audited financial statements. In addition, SFT makes its governing documents, conflict of interest policy, and financial statements available to the public by providing copies upon request and available for inspection at its administrative office.”

“Form 990, part vi line 4 in september 2022, sft amended its bylaws to modify the term of the board chair to not be more than three (3) consecutive full one (1) year terms. Previously, the bylaws allowed for the term of the board chair to not be more than four (4) consecutive full one (1) year terms. In addition, sft added language to its bylaws to allow meetings by remote communications technology.”

“Description:rides/games operators total fees:6904515”

“Description:security total fees:4667516”

“Description:cleaning total fees:1554396”

“Description:ticket-ticketing serv total fees:760000”

“Description:superintendents, judges, vets total fees:779770”

“Description:publicity services total fees:196001”

“Description:other total fees:648029”