State Fair of Texas

“FORM 990, PART VI, SECTION A, LINE 1a: Article V Section 1 of State Fair of Texas Bylaws provides for the establishment of an Executive Committee of the Board of Directors and vests in the Executive Committee the authority to act on behalf of the Board of Directors between meetings of the Board. In July 2017, SFT amended its bylaws to modify its governing body by removing the Executive Committee and creating a Board of Advisors. The Board of Directors comprises 20 voting members. The 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 A, LINE 2: Name of Individuals Type of Relationship Roy Coffee and J. Michael Lewis Business John W. Carpenter III and J. Michael Lewis Business Ruben Esquivel and Robert W. Best Business”

“form 990, part vi, line 4: In July 2017, SFT amended its bylaws to modify its governing body by removing the Executive Committee and creating a Board of Advisors. The amended bylaws state that SFT shall have General Counsel serve as an ex-officio, non-voting member of the Board of Directors; additionally, The amended bylaws also create a Board of Advisors whose members act in an advisory capacity only and do not have voting rights. PROCESS TO REVIEW FORM 990 FORM 990, PART VI, SECTION b, LINE 11B: 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 12C: 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 organizations 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 Executive Committee and/or the Board of Directors.”

“FORM 990, PART VI, SECTION B, LINES 15A & 15B: SFTs 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 recommended amounts to the finance/audit committee of the board of directors. The finance/audit committee deliberates on the recommended amounts 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 the its meetings. The finance/audit committee regularly requests third-party compensation studies performed by a national accounting and consulting firm to ensure the State Fairs compensation for senior staff members is within a competitive and acceptable range. The firm provided 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 SFTs website at www.bigtex.com: Bylaws, Restated Certificate of Formation, Conflict of Interest/Ethics Policy, Finance/Audit Committee Charter, 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.”

“Description:cleaning total fees:1604098”

“Description:security total fees:1475511”

“Description:ticket-ticketing serv total fees:984378”

“Description:ride operators total fees:948160”

“Description:marketing services total fees:125420”

“Description:other total fees:274205”