Lee County Fair FY2023 filing

Not tax-deductible

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

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

99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · 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
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.9 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
$105K
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$295K
-7% vs prior year
Spent
$313K
To programs
99%
Net assets
$717K
By yearFY2020–FY2025
Revenue
$295K
FY2023▼ -7%
Revenue by fiscal year
FY2020$150K
FY2021$249K
FY2022$317K
FY2023$295K
FY2024$431K
FY2025$388K
Expenses
$313K
FY2023▼ -6%
Expenses by fiscal year
FY2020$159K
FY2021$311K
FY2022$332K
FY2023$313K
FY2024$362K
FY2025$412K
Net assets
$717K
FY2023▼ -2%
Net assets by fiscal year
FY2020$810K
FY2021$749K
FY2022$735K
FY2023$717K
FY2024$786K
FY2025$763K

From the FY2023 Form 990 · see the original

You’re viewing the FY2023 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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $310K Management & general 1% · $3K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

18 people listed on the 990.

Part VII, Section A · reportable compensation
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$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 · FY2023.
01

Lee county fair held in july were exhibits and shows for ag livestock, garden products, home canning, baking, eqt, etc are held.

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 FY2023 990, line by line.

1The main four
Money inPt VIII
$295K
Ln 12
Fees for servicesLn 2g$175K
Gifts and grantsLn 1h$89K
Other incomeLn 4–11$30K
Money outPt IX
$313K
Ln 25
Programscol B$310K
Managementcol C$3K
Owns and owesPt X
$717K
net assets · Ln 32
Cash and savingsLn 1–2$181K
Total assetsLn 16$822K
LiabilitiesLn 26$105K
PeoplePt VI, VII
18
listed · VII A
PaidVII A0
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$89K
Fees for servicesLn 2g$175K
Investment incomeLn 3$644
Other incomeLn 4–11$30K
Total revenueLn 12$295K
Assets in detailPt X, end of year
CashLn 1$21K
SavingsLn 2$160K
Cash and savings togetherLn 1–2$181K
Land, buildings, equipmentLn 10c$626K
Total assetsLn 16$822K
LiabilitiesLn 26$105K
Net assetsLn 32$717K
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 FY23End FY23
Cash and savingsLn 1–2$205K$181K
Land, buildings, equipmentLn 10c$513K$626K
Total assetsLn 16$735K$822K
LiabilitiesLn 26$0$105K
Net assetsLn 32$735K$717K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$5K$5K
Payroll taxesLn 10$621$621
Accounting feesLn 11c$3K$1K$1K
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$3K$1K$1K
Information technologyLn 14$10K$10K
OccupancyLn 16$24K$24K
TravelLn 17$2K$2K
Depreciation, depletion and amortizationLn 22$32K$32K
InsuranceLn 23$31K$31K
Other expenses (24a–d)Ln 24$189K$189K
All other expensesLn 24e$6K$6K
Total functional expensesLn 25$313K$310K$3K$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 Viewing $295K$313K−$18K$717K 990 PDF
FY2022 $317K$332K−$14K$735K 990 PDF
FY2021 $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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $295,496 across 6 lines filed
Lines not itemized here account for $16,086 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$89,412
VIII-1h Total contributions, gifts and grants$89,412
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $174,942$174,942
VIII-3 Investment incomeExcluded from tax $644$644
VIII-6 Net rental income or lossExcluded from tax $14,412$14,412
VIII-12 Total revenueUnrelated business $16,086 · Excluded from tax $189,998$295,496
Part IX · Statement of functional expenses $313,243 across 12 lines filed
IX-7 Other salaries and wagesPrograms $4,525$4,525
IX-10 Payroll taxesPrograms $621$621
IX-11c Accounting feesPrograms $1,401 · Management $1,401$2,802
IX-12 Advertising and promotionPrograms $7,679$7,679
IX-13 Office expensesPrograms $1,391 · Management $1,392$2,783
IX-14 Information technologyPrograms $9,811$9,811
IX-16 OccupancyPrograms $24,484$24,484
IX-17 TravelPrograms $2,477$2,477
IX-22 Depreciation, depletion and amortizationPrograms $31,895$31,895
IX-23 InsurancePrograms $30,744$30,744
IX-24 Other expenses (24a–d)Programs $189,274$189,274
IX-24e All other expensesPrograms $6,148$6,148
IX-25 Total functional expensesPrograms $310,450 · Management $2,793 · Fundraising $0$313,243
Part X · Balance sheet $821,562 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $60,590$21,171
X-2 Savings and temporary cash investmentsStart of year $144,246$160,140
X-10c Land, buildings and equipment, netStart of year $512,948$626,251
X-14 Intangible assetsStart of year $16,000$14,000
X-16 Total assetsStart of year $734,559$821,562
X-24 Unsecured notes and loans payable$104,750
X-26 Total liabilitiesStart of year $0$104,750
X-27 Net assets without donor restrictionsStart of year $734,559$716,812
X-32 Total net assets or fund balancesStart of year $734,559$716,812
X-33 Total liabilities and net assetsStart of year $734,559$821,562
Part XI · Reconciliation of net assets $716,812 net assets at year end
XI-1 Total revenue$295,496
XI-2 Total expenses$313,243
XI-3 Revenue less expenses−$17,747
XI-4 Net assets at start of year$734,559
XI-10 Net assets at end of year$716,812

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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