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Clay County Fair Charitable Trust Co Clay County Fair Assoc INC FY2021 filing

Tax-deductible

Spencer, IA501(c)(3)Since 1993Foundations & GrantmakersEIN 42-1407793Revenue $652K in FY2021

On file with the IRSclaycountyfair.com/charitable-trustPo Box 527, 51301-0527 · Spencer, IATax-exempt since Sep 1993Publicly supported charity — 170(b)(1)(A)(vi)

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Financial support for the Clay County Fair.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
4 of 6
filings with a surplus
Average surplus $57K a year · 15% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
10 mo
of spending, in cash
Looks good: 10.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $400
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
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$652K
-35% vs prior year
Spent
$770K
To programs
100%
Net assets
$964K
By yearFY2020–FY2025
Revenue
$652K
FY2021▼ -35%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.0M
FY2021$652K
FY2022$197K
FY2023$153K
FY2024$147K
FY2024$20K
FY2025$139K
Expenses
$770K
FY2021▲ +170%
Tap a bar for its year
Expenses by fiscal year
FY2020$285K
FY2021$770K
FY2022$166K
FY2023$540K
FY2024$98K
FY2024$4K
FY2025$90K
Net assets
$964K
FY2021▼ -11%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$964K
FY2022$945K
FY2023$557K
FY2024$606K
FY2024$622K
FY2025$671K

From the FY2021 Form 990 (year ending October 2021) · see the original

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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 Sep 1993.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $770K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Jeremy Parsons
Secretary/Ce
$0Pt VII · Sec A
Steve Waller
Chairman
$0Pt VII · Sec A
Dana Metcalf
Vice Chairma
$0Pt VII · Sec A
$0Pt VII · Sec A
David Potratz
Executive Co
$0Pt VII · Sec A
Dan Skelton
Executive Co
$0Pt VII · Sec A
Greg Lear
Executive Co
$0Pt VII · Sec A
Gayle Simons
Executive Co
$0Pt VII · Sec A
See Clay County Fair Charitable Trust Co Clay County Fair Assoc INC 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

Provides financial aid for the Clay County Fair.

Questions for Clay County Fair Charitable Trust Co Clay County Fair Assoc INC

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Provided by the organization

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1 program · $770K · in their own filed words · FY2020
01

To provide financial support for those scientific and educational activities of the clay county fair association.

$770Kprogram expense

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 · FY2024
Alliant Energy Foundation INCFY2024$400
Total grants receivedfrom 1 funder$400

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$652K
Ln 12
Gifts and grantsLn 1h$650K
Investment incomeLn 3$2K
Money outPt IX
$770K
Ln 25
Programscol B$770K
Owns and owesPt X
$964K
net assets · Ln 32
Cash and savingsLn 1–2$665K
Total assetsLn 16$964K
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$650K
Investment incomeLn 3$2K
Total revenueLn 12$652K
Assets in detailPt X, end of year
SavingsLn 2$665K
Cash and savings togetherLn 1–2$665K
Other assetsLn 15$50K
Total assetsLn 16$964K
LiabilitiesLn 26$0
Net assetsLn 32$964K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$608K$665K
Total assetsLn 16$1.1M$964K
LiabilitiesLn 26$0$0
Net assetsLn 32$1.1M$964K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$990$990
Payments to affiliatesLn 21$751K$751K
Other expenses (24a–d)Ln 24$9K$9K
Total functional expensesLn 25$770K$770K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $139K$90K$49K$671K 990 PDF
FY2024 $147K$98K$49K$606K 990 PDF
FY2023 $153K$540K−$388K$557K 990 PDF
FY2022 $197K$166K$30K$945K 990 PDF
FY2021 Viewing $652K$770K−$118K$964K 990 PDF
FY2020 $1.0M$285K$721K$1.1M 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 (6 parts)
Part I · Summary $652,165 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,005,319$649,703
I-9 Program service revenue$0
I-10 Investment incomePrior year $906$2,462
I-11 Other revenue$0
I-12 Total revenuePrior year $1,006,225$652,165
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $285,010$770,031
I-18 Total expensesPrior year $285,010$770,031
I-19 Revenue less expensesPrior year $721,215−$117,866
Part VI · Governance 10 of 10 board members independent, 1 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $652,165 across 4 lines filed
VIII-1f All other contributions, gifts and grants$649,703
VIII-1h Total contributions, gifts and grants$649,703
VIII-3 Investment incomeRelated to mission $2,462$2,462
VIII-12 Total revenueRelated to mission $2,462$652,165
Part IX · Statement of functional expenses $770,031 across 5 lines filed
IX-11c Accounting feesPrograms $1,290$1,290
IX-12 Advertising and promotionPrograms $7,663$7,663
IX-13 Office expensesPrograms $990$990
IX-21 Payments to affiliatesPrograms $750,846$750,846
IX-24 Other expenses (24a–d)Programs $9,242$9,242
IX-25 Total functional expensesPrograms $770,031 · Management $0 · Fundraising $0$770,031
Part X · Balance sheet $964,408 assets, 8 lines filed
X-2 Savings and temporary cash investmentsStart of year $608,439$665,193
X-3 Pledges and grants receivableStart of year $473,835$249,215
X-15 Other assets$50,000
X-16 Total assetsStart of year $1,082,274$964,408
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,082,274$964,408
X-32 Total net assets or fund balancesStart of year $1,082,274$964,408
X-33 Total liabilities and net assetsStart of year $1,082,274$964,408
Part XI · Reconciliation of net assets $964,408 net assets at year end
XI-1 Total revenue$652,165
XI-2 Total expenses$770,031
XI-3 Revenue less expenses−$117,866
XI-4 Net assets at start of year$1,082,274
XI-10 Net assets at end of year$964,408

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

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