Civic Intelligence

Illinois Fairgrounds Foundation

990 • Fiscal year 2018 • EIN 81-4944641

Jan 01, 2018 to Dec 31, 2018 • Filed on Aug 27, 2019

Organization ProfileWWW.ILFAIRGROUNDSFOUNDATION.COM
5 Wildwood RoadSpringfield, IL 62704

(217) 725-1033

Siviq Scores

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

Liabilities / Assets

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

99th percentile

96%

Higher net margin than 99% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets14th percentile

Assets

$1,021,657

No earlier filing loaded for comparison.

Net Assets

$1,021,657

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin99th percentile

Revenue

$1,043,341

No earlier filing loaded for comparison.

Expenses

$45,191

No earlier filing loaded for comparison.

Net Income

$998,150

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$2.0M$1.5M$1.0M$500K$0Assets 2018: $1,021,657Liabilities 2018: $0Net Assets 2018: $1,021,6572018Assets 2019: $1,697,327Liabilities 2019: $0Net Assets 2019: $1,697,3272019Assets 2020: $1,696,231Liabilities 2020: $5,395Net Assets 2020: $1,690,8362020Assets 2021: $1,391,167Liabilities 2021: $2,058Net Assets 2021: $1,389,1092021Assets 2022: $1,455,881Liabilities 2022: $2,479Net Assets 2022: $1,453,4022022Assets 2023: $1,064,722Liabilities 2023: $853Net Assets 2023: $1,063,8692023Assets 2024: $869,149Liabilities 2024: $116Net Assets 2024: $869,0332024

Highlighted filing

2018

Assets$1,021,657
Liabilities$0
Net Assets$1,021,657
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $1,043,341Expenses 2018: $45,191Net Income 2018: $998,1502018Revenue 2019: $898,094Expenses 2019: $222,424Net Income 2019: $675,6702019Revenue 2020: $125,149Expenses 2020: $131,640Net Income 2020: -$6,4912020Revenue 2021: $85,211Expenses 2021: $365,619Net Income 2021: -$280,4082021Revenue 2022: $186,256Expenses 2022: $121,963Net Income 2022: $64,2932022Revenue 2023: $58,574Expenses 2023: $448,107Net Income 2023: -$389,5332023Revenue 2024: $73,823Expenses 2024: $268,659Net Income 2024: -$194,8362024

Highlighted filing

2018

Revenue$1,043,341
Expenses$45,191
Net Income$998,150
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Aug 27, 2019
Return Version
2018v3.1
Gross Receipts
$1,043,341
Mission and Program Overview

Mission

To facilitate repairs and restoration of the illinois state fairgrounds in springfield, il and du quoin, il.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$26,340$1,020,919▲ $994,579
Accounts Receivable$0$738▲ $738
Total Assets$26,340$1,021,657▲ $995,317
Liabilities
Accounts Payable and Accrued Expenses$2,833$0▼ $2,833
Total Liabilities$2,833$0▼ $2,833
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$1,000,000-
Unrestricted Net Assets$23,507$21,657▼ $1,850
Total Net Assets Fund Balance$23,507$1,021,657▲ $998,150
Total Liabilities and Net Assets / Fund Balance$26,340$1,021,657▲ $995,317
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
John SlaytonChairman
Edward McmillianBoard Member
George Obernagel IiiBoard Member
Glenn WerryBoard Member
Grant HammerBoard Member
Orion SamuelsonBoard Member
Phil FarrellBoard Member
Robert EasterBoard Member
Sam MadoniaBoard Member
John SullivanNon-voting Board Member
Holly SpanglerSecretary
Chandra RobertsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,043,341
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,043,341
Change in Net Assets
$998,150

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,043,341
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,043,341
Total Revenue per Form 990
$1,043,341
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$45,191
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
Fees for Services Other$27,712--$27,712
Advertising$14,878--$14,878
Information Technology$1,134--$1,134
Fees for Services Accounting$368$382-$750
Insurance$123$127-$250
Travel$197--$197
Other Expenses$46$25-$46
Total Functional Expenses$44,579$612$0$45,191

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$45,191
Total Expenses per Audited Statements$45,191
Total Expenses per Form 990$45,191
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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

“The board of directors are provided a copy of the form 990 for their review prior to filing.”

Form 990, Part VI, Section C, Line 18

“The foundation makes its form 990 available to the public upon request.”

Form 990, Part VI, Section C, Line 19

“The foundation makes its financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Illinois Fairgrounds Foundation
EIN
81-4944641
Phone
2177251033
Address
5 WILDWOOD ROAD, SPRINGFIELD, IL 62704

Signing Officer

Name
John C Slayton
Title
President
Phone
2177251033
Signed
2019-08-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
John C Slayton
Formed
2016
Legal Domicile
Il
Voting Board Members
11
Independent Board Members
11
Employees
0
Volunteers
0

Preparer

Firm
Kerber Eck & Braeckel Llp
Address
3200 ROBBINS ROAD STE 200A, SPRINGFIELD, IL 62704
Preparer
Kathleen O Ward
Phone
2177890960
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Service fees for fairgrounds repair: program service expenses 27,712. Management and general expenses 0. Fundraising expenses 0. Total expenses 27,712.”

FORM 990, PART XII, LINE 2C:

“No change noted from the prior year.”

Financial Statement Notes

PART X, LINE 2:

“The foundation is exempt from federal and state taxes under section 501(c)(3) of the internal revenue code. The foundation has recognized in the financial statements the effects of all tax positions and continually evaluates expiring statues of limitations, audits, changes in tax law, and new authoritative rulings. The foundation is not aware of any circumstances or events that make it reasonably possible that unrecognized tax benefits may increase or decrease within 12 months of the statement of financial position date. Penalties and interest assessed by taxing authorities are included in the foundation's expenses, if applicable. There were no interest or penalties paid during 2018.”

Raw XML Appendix378 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION IS EXEMPT FROM FEDERAL AND STATE TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE FOUNDATION HAS RECOGNIZED IN THE FINANCIAL STATEMENTS THE EFFECTS OF ALL TAX POSITIONS AND CONTINUALLY EVALUATES EXPIRING STATUES OF LIMITATIONS, AUDITS, CHANGES IN TAX LAW, AND NEW AUTHORITATIVE RULINGS. THE FOUNDATION IS NOT AWARE OF ANY CIRCUMSTANCES OR EVENTS THAT MAKE IT REASONABLY POSSIBLE THAT UNRECOGNIZED TAX BENEFITS MAY INCREASE OR DECREASE WITHIN 12 MONTHS OF THE STATEMENT OF FINANCIAL POSITION DATE. PENALTIES AND INTEREST ASSESSED BY TAXING AUTHORITIES ARE INCLUDED IN THE FOUNDATION'S EXPENSES, IF APPLICABLE. THERE WERE NO INTEREST OR PENALTIES PAID DURING 2018.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS ARE PROVIDED A COPY OF THE FORM 990 FOR THEIR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION MAKES ITS FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FOUNDATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SERVICE FEES FOR FAIRGROUNDS REPAIR: PROGRAM SERVICE EXPENSES 27,712. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 27,712.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NO CHANGE NOTED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
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IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
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IRS990/TempOrPermanentEndowmentsInd00
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ILLINOIS FAIRGROUNDS FOUNDATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O JOHN SLAYTON
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ReturnHeader/FilingSecurityInformation/IPTm014:52:45
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ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,021,657
Liabilities
$0
Net assets
$1,021,657
Revenue
$1,043,341
Expenses
$45,191
Net income
$998,150
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.00$0.87$0.07$0.27$0.19
2023Detailed filing. Detailed filing data is available for this year.$1.06$0.00$1.06$0.06$0.45$0.39
2022Detailed filing. Detailed filing data is available for this year.$1.46$0.00$1.45$0.19$0.12$0.06
2021Detailed filing. Detailed filing data is available for this year.$1.39$0.00$1.39$0.09$0.37$0.28
2020Detailed filing. Detailed filing data is available for this year.$1.70$0.01$1.69$0.13$0.13$0.01
2019Detailed filing. Detailed filing data is available for this year.$1.70$0.00$1.70$0.90$0.22$0.68
2018Detailed filing. Detailed filing data is available for this year.$1.02$0.00$1.02$1.04$0.05$1.00