Martin County Fair EIN 41-2017823 Form 990 (PDF) Claim this org

Martin County Fair FY2021 filing

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Sponsors an annual county fair, providing a venue for agricultural exhibitors. For fiscal year 2021 it reported $494K in revenue, $444K in expenses, and $1.2M in net assets.Pt I

Type
Public charity (501(c)(3)) · Recreation & Sports
Location
Fairmont, MN
Filings
6 on file (2020–2021)
Revenue
$494KFY2021
Expenses
$444K
Net assets
$1.2M
People
16
Filings
6
Updates
0
More identity details & actions ⌄
EIN  41-2017823 Public charity (501(c)(3)) Fairmont, MN
Form 990 (PDF)
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Sponsors an annual county fair, providing a venue for agricultural exhibitors.
Leadership
Brad Sherman · Board Member · $1K
Money in and out
$494K revenue, $444K expenses
Bottom line
100% program efficiency
Where the money goes · FY2021
Total revenue
$494K
Pt VIII · Ln 12
Total expenses
$444K
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $49K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs
Operating runway
12.0mo
months of highly liquid reserves at operating expense rate
Surplus margin
+10%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2021 · Form 990
Revenue
$494K
FY2021▲ +313%
Expenses
$444K
FY2021▲ +185%
Total assets
$1.2M
FY2021▲ +6%
Total liabilities
$28K
FY2021▲ +529%
Total revenue
$494K
Pt VIII · Ln 12
Total expenses
$444K
Pt IX · Ln 25
Net assets
$1.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$49K
Total assetsPt X · Ln 16$1.2M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 316
Independent voting membersPt I · Ln 416

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CMartin County Fair
EINHdr · item D41-2017823
Principal addressHdr · item CFairmont, MN
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFRecreation & Sports (N52)
Ruling yearIRS BMFNov 2001

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a16
Independent voting membersPt VI · Ln 1b16
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Board Member
$900Pt VII · Sec A
Vice Preside
$900Pt VII · Sec A
$900Pt VII · Sec A
Board Member
$900Pt VII · Sec A
Board Member
$900Pt VII · Sec A
$880Pt VII · Sec A
Board Member
$880Pt VII · Sec A
Board Member
$860Pt VII · Sec A

Randy Deling’s $940 as Board Memebe is at the 2nd percentile of top reported officer pay among 1017 $100K–1M recreation & sports nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Lisa Stromberg$920$900$940$960$880
Randy Deling$940$900$960$940$860$610
Steve Pomerenke$880$940$940$960$900$590
Robbin Celander$900$900$960$920$900$590
Brad Sherman$920$960$960$960$900$590
Nate Amborn$920$940$940$960$700
Jim Kain$940$940$960$900$570
Tracy Richardson$940$960$900$570

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service, described in the organization's own filed words · FY2020.
01

Operations of storage rental so there continues to be activity at the fair grounds and the buildings get used. The income is used to improve the fair grounds and buildings to keep the fair a great attraction for martin county.

Pt IX · col B

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Statement of Revenue

Part VIII
Contributions & grants$195K · 39%
Program service revenue$194K · 39%
Other revenue$103K · 21%
Contributions & grants39%$195K
Program service revenue39%$194K
Other revenue21%$103K
Investment income$2K
— government grantsLn 1e$8K
Total revenueLn 12$494K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$444K
Total functional expensesLn 25$444K

Balance Sheet

Part X · end of year
CashLn 1$446K
Total assetsLn 16$1.2M
Total liabilitiesLn 26$28K
Total net assetsLn 32$1.2M
Months of cash on handcomputed12.0

Financial Metrics

Form 990 · FY2021 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $446K · Operating expenses/yr $444K
12.0 months
Where the money goes
Program services
Program services $444K · Total expenses $444K
100%
Management & General
Management & general $0 · Total expenses $444K
0%
Fundraising
Fundraising $0 · Total expenses $444K
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $115K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $195K · Total revenue $494K
39%
Government reliance
Government grants $8K · Total revenue $494K
2%
Earned-income share
Program service revenue $194K · Total revenue $494K
39%
Investment reliance
Investment income $2K · Total revenue $494K
+0.3%
Program self-sufficiency
Program service revenue $194K · Total expenses $444K
44%
Growth & trend
Revenue growth (YoY)
This year $494K · Prior year $120K
+313%
Net-asset trend (YoY)
End of year $1.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $494K · Expenses $444K
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $1.2M
Net-asset ratio
Net assets $1.2M · Total assets $1.2M
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $1.2M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Steve Pomerenke · Reported title VICE PRESIDE · Highest reported compensation $900 · Total expenses $444K
0.2%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $37K · Total expenses $444K
8%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%
Overhead ratio 0%
Fundraising cost ratio 0%
Revenue growth 313%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$5K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$585K revenue · ⤓ 990 PDF
FY2024$533K revenue · ⤓ 990 PDF
FY2023$541K revenue · ⤓ 990 PDF
FY2022$597K revenue · ⤓ 990 PDF
FY2021$494K revenue · viewing · ⤓ 990 PDF
FY2020$120K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2021IRS
Classification, formation year, addressIRS Business Master File
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