Lee County Fair FY2021 filing

Not tax-deductible

Donnellson, IA501(c)(5)Since 1945EIN 42-0696098

To support agriculture education and development for youths in lee county, iowa.

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $9K a year · 3% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
8 mo
of spending, in cash
Looks good: 7.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $73K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$249K
+66% vs prior year
Spent
$311K
To programs
0%
Net assets
$749K
By yearFY2020–FY2025
Revenue
$249K
FY2021▲ +66%
Revenue by fiscal year
FY2020$150K
FY2021$249K
FY2022$317K
FY2023$295K
FY2024$431K
FY2025$388K
Expenses
$311K
FY2021▲ +96%
Expenses by fiscal year
FY2020$159K
FY2021$311K
FY2022$332K
FY2023$313K
FY2024$362K
FY2025$412K
Net assets
$749K
FY2021▼ -8%
Net assets by fiscal year
FY2020$810K
FY2021$749K
FY2022$735K
FY2023$717K
FY2024$786K
FY2025$763K

From the FY2021 Form 990 · see the original

You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1940.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Executive Board
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Lee County Fair executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Lee County Fair is a member-serving organization based in Donnellson, IA, formed in 1945.

Provided by the organization

This section is blank until Lee County Fair claims this page.

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1 program service, described in the organization's own filed words · FY2021.
01

The lee county fair was held in donnellson, ia, JULY7TH through july 12TH, 2021. There were exhibits and shows for ag livestock, garden products, home canning, baking, eqpt, ETC.THERE were grandstand events and a carnival.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$73K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$249K
Ln 12
Fees for servicesLn 2g$208K
Gifts and grantsLn 1h$29K
Other incomeLn 4–11$13K
Money outPt IX
$311K
Ln 25
Owns and owesPt X
$749K
net assets · Ln 32
Cash and savingsLn 1–2$198K
Total assetsLn 16$749K
LiabilitiesLn 26$0
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29K
Government grantsLn 1e$29K
Fees for servicesLn 2g$208K
Investment incomeLn 3$133
Other incomeLn 4–11$13K
Total revenueLn 12$249K
Assets in detailPt X, end of year
CashLn 1$55K
SavingsLn 2$143K
Cash and savings togetherLn 1–2$198K
Land, buildings, equipmentLn 10c$551K
Total assetsLn 16$749K
LiabilitiesLn 26$0
Net assetsLn 32$749K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$228K$198K
Land, buildings, equipmentLn 10c$583K$551K
Total assetsLn 16$810K$749K
LiabilitiesLn 26$0$0
Net assetsLn 32$810K$749K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$7K
Payroll taxesLn 10$505
Legal feesLn 11b$255
Accounting feesLn 11c$648
Advertising and promotionLn 12$8K
Conferences, conventions and meetingsLn 19$596
Depreciation, depletion and amortizationLn 22$32K
InsuranceLn 23$20K
Other expenses (24a–d)Ln 24$63K$63K
All other expensesLn 24e$179K
Total functional expensesLn 25$311K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $388K$412K−$24K$763K 990 PDF
FY2024 $431K$362K$69K$786K 990 PDF
FY2023 $295K$313K−$18K$717K 990 PDF
FY2022 $317K$332K−$14K$735K 990 PDF
FY2021 Viewing $249K$311K−$61K$749K 990 PDF
FY2020 $150K$159K−$8K$810K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $249,296 across 6 lines filed
VIII-1e Government grants$29,103
VIII-1h Total contributions, gifts and grants$29,103
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $207,510$207,510
VIII-3 Investment incomeRelated to mission $133$133
VIII-6 Net rental income or lossRelated to mission $12,550$12,550
VIII-12 Total revenueRelated to mission $12,683 · Unrelated business $0 · Excluded from tax $207,510$249,296
Part IX · Statement of functional expenses $310,697 across 10 lines filed
IX-7 Other salaries and wages$6,600
IX-10 Payroll taxes$505
IX-11b Legal fees$255
IX-11c Accounting fees$648
IX-12 Advertising and promotion$7,706
IX-19 Conferences, conventions and meetings$596
IX-22 Depreciation, depletion and amortization$32,120
IX-23 Insurance$20,311
IX-24 Other expenses (24a–d)Programs $63,111$63,111
IX-24e All other expenses$178,845
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$310,697
Part X · Balance sheet $749,026 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $103,929$55,411
X-2 Savings and temporary cash investmentsStart of year $123,696$142,933
X-10c Land, buildings and equipment, netStart of year $582,802$550,682
X-16 Total assetsStart of year $810,427$749,026
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $810,427$749,026
X-33 Total liabilities and net assetsStart of year $810,427$749,026
Part XI · Reconciliation of net assets $749,026 net assets at year end
XI-1 Total revenue$249,296
XI-2 Total expenses$310,697
XI-3 Revenue less expenses−$61,401
XI-4 Net assets at start of year$810,427
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$749,026

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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