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Red River Valley Fair Association

Not tax-deductible

West Fargo, ND501(c)(5)Since 1905Mutual / membership EIN 45-0227733Revenue $8.3M in FY2025

On file with the IRSredrivervalleyfair.com1805 Main Ave W, 58078-1341 · West Fargo, NDTax-exempt since Mar 1959

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To promote, foster, operate and maintain a Fair, agricultural and livestock exposition, annually, at the Red River Valley fairgrounds, west fargo, cass county, north dakota

501(c)(5) labor or agricultural organization; gifts are not tax-deductible as charitable contributions.
Run by 60 volunteers and 35 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

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FY2025 · 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
5 of 6
filings with a surplus
Average surplus $312K a year · 5% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$301K
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.3M
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
50
of 50 voting members
Looks good: 50 of 50 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.3M
-12% vs prior year
Spent
$7.8M
Net assets
$8.2M
By yearFY2020–FY2025
Revenue
$8.3M
FY2025▼ -12%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.5M
FY2021$1.7M
FY2022$7.1M
FY2023$8.7M
FY2024$9.5M
FY2025$8.3M
Expenses
$7.8M
FY2025▼ -15%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.4M
FY2021$1.8M
FY2022$6.4M
FY2023$8.3M
FY2024$9.2M
FY2025$7.8M
Net assets
$8.2M
FY2025▲ +18%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.8M
FY2021$3.7M
FY2022$6.4M
FY2023$6.7M
FY2024$7.0M
FY2025$8.2M

From the FY2025 Form 990 (year ending October 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1959.

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

Who runs it and what they're paid

55 people listed on the 990; $301K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Cody Cashman
General Manager
$192,115Pt VII · Sec A
Cheryl Herre-Altizer
CFO (left Aug, 2025)
$109,362Pt VII · Sec A
Chris Heise
President
$0Pt VII · Sec A
$0Pt VII · Sec A
Jerry Raguse
Executive Member
$0Pt VII · Sec A
Robert Rasmussen
VP/Executive Member (4/2025)
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Cody Cashman$192,115$163,400$129,576$122,387$70,766—
Bryan Schulz—————$150,739
Cheryl Herre-Altizer$109,362$108,325$103,379$94,766$12,188—

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.

See Red River Valley Fair Association 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Hosts an annual agricultural and livestock exposition to promote farming and ranching.

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2 programs · in their own filed words · FY2024
01

Operate the annual red river valley fair, promoting agriculture and benefiting the community.

Pt IX · col B
02

Operate annual agriculture exposition, big iron, along with other expositions.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$8.3M
Ln 12
Fees for servicesLn 2g$5.5M
Gifts and grantsLn 1h$2.2M
Other incomeLn 4–11$585K
Money outPt IX
$7.8M
Ln 25
Owns and owesPt X
$8.2M
net assets · Ln 32
Cash and savingsLn 1–2$266K
Total assetsLn 16$10.5M
LiabilitiesLn 26$2.3M
PeoplePt VI, VII
55
listed · VII A
PaidVII A2
Voting boardVI 1a50
IndependentVI 1b50
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.2M
Government grantsLn 1e$1.2M
Noncash giftsLn 1g$10K
Fees for servicesLn 2g$5.5M
Investment incomeLn 3$24K
Other incomeLn 4–11$585K
Total revenueLn 12$8.3M
Assets in detailPt X, end of year
CashLn 1$266K
Cash and savings togetherLn 1–2$266K
Land, buildings, equipmentLn 10c$9.2M
Other assetsLn 15$801K
Total assetsLn 16$10.5M
LiabilitiesLn 26$2.3M
Net assetsLn 32$8.2M
OperationsPt I, VI
EmployeesI 535
VolunteersI 660
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 FY25End FY25
Cash and savingsLn 1–2$103K$266K
Land, buildings, equipmentLn 10c$8.8M$9.2M
Total assetsLn 16$9.2M$10.5M
LiabilitiesLn 26$2.2M$2.3M
Net assetsLn 32$7.0M$8.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$344K
Other salaries and wagesLn 7$1.2M
Pension plan contributionsLn 8$30K
Other employee benefitsLn 9$102K
Payroll taxesLn 10$116K
Accounting feesLn 11c$10K
Other fees for servicesLn 11g$56K
Advertising and promotionLn 12$438K
Office expensesLn 13$282K
Information technologyLn 14$2K
OccupancyLn 16$264K
TravelLn 17$20K
Conferences, conventions and meetingsLn 19$4K
InterestLn 20$103K
Depreciation, depletion and amortizationLn 22$745K
InsuranceLn 23$159K
Other expenses (24a–d)Ln 24$3.2M
All other expensesLn 24e$722K
Total functional expensesLn 25$7.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $8.3M$7.8M$519K$8.2M 990 PDF
FY2024 $9.5M$9.2M$268K$7.0M 990 PDF
FY2023 $8.7M$8.3M$321K$6.7M 990 PDF
FY2022 $7.1M$6.4M$692K$6.4M 990 PDF
FY2021 $1.7M$1.8M−$36K$3.7M 990 PDF
FY2020 $3.5M$3.4M$108K$3.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $8,292,573 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,411,783$2,217,613
I-9 Program service revenuePrior year $6,414,712$5,465,454
I-10 Investment incomePrior year $110,140$24,112
I-11 Other revenuePrior year $529,777$585,394
I-12 Total revenuePrior year $9,466,412$8,292,573
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,763,065$1,767,526
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $7,435,464$6,006,023
I-18 Total expensesPrior year $9,198,529$7,773,549
I-19 Revenue less expensesPrior year $267,883$519,024
Part VI · Governance 50 of 50 board members independent, 1 to look at
VI-1a Voting members of the governing body50
VI-1b Independent voting members50
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $8,292,573 across 9 lines filed
VIII-1e Government grants$1,249,982
VIII-1f All other contributions, gifts and grants$967,631
VIII-1g Noncash contributions (included above)$10,500
VIII-1h Total contributions, gifts and grants$2,217,613
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,465,454$5,465,454
VIII-3 Investment incomeExcluded from tax $24,112$24,112
VIII-6 Net rental income or lossRelated to mission $563,784$563,784
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $21,610$21,610
VIII-12 Total revenueRelated to mission $6,050,848 · Unrelated business $0 · Excluded from tax $24,112$8,292,573
Part IX · Statement of functional expenses $7,773,549 across 18 lines filed
IX-5 Pay of current officers, directors and key staff$344,311
IX-7 Other salaries and wages$1,174,834
IX-8 Pension plan contributions$30,215
IX-9 Other employee benefits$102,315
IX-10 Payroll taxes$115,851
IX-11c Accounting fees$10,381
IX-11g Other fees for services$55,925
IX-12 Advertising and promotion$438,321
IX-13 Office expenses$282,321
IX-14 Information technology$1,669
IX-16 Occupancy$264,121
IX-17 Travel$20,198
IX-19 Conferences, conventions and meetings$4,027
IX-20 Interest$103,167
IX-22 Depreciation, depletion and amortization$745,175
IX-23 Insurance$158,837
IX-24 Other expenses (24a–d)$3,199,740
IX-24e All other expenses$722,141
IX-25 Total functional expenses$7,773,549
Part X · Balance sheet $10,533,997 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $103,288$266,450
X-4 Accounts receivableStart of year $210,405$180,015
X-9 Prepaid expenses and deferred chargesStart of year $58,807$60,121
X-10c Land, buildings and equipment, netStart of year $8,778,332$9,213,594
X-14 Intangible assets$12,697
X-15 Other assetsStart of year $0$801,120
X-16 Total assetsStart of year $9,150,832$10,533,997
X-17 Accounts payable and accrued expensesStart of year $1,023,897$193,027
X-19 Deferred revenueStart of year $251,937$159,437
X-26 Total liabilitiesStart of year $2,175,715$2,304,856
X-27 Net assets without donor restrictionsStart of year $6,975,117$8,229,141
X-32 Total net assets or fund balancesStart of year $6,975,117$8,229,141
X-33 Total liabilities and net assetsStart of year $9,150,832$10,533,997
Part XI · Reconciliation of net assets $8,229,141 net assets at year end
XI-1 Total revenue$8,292,573
XI-2 Total expenses$7,773,549
XI-3 Revenue less expenses$519,024
XI-4 Net assets at start of year$6,975,117
XI-6 Donated services and use of facilities$735,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$8,229,141

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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