Central States Fair FY2023 filing

Tax-deductible

Rapid City, SD501(c)(5)Since 1945EducationEIN 46-0238981Revenue $5.7M in FY2023

On file with the IRScentralstatesfair.com800 San Francisco St, 57701-3057 · Rapid City, SDTax-exempt since Feb 1958

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We showcase agriculture, tourism, and our community.

501(c)(5) charity; gifts are tax-deductible.
$109K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

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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
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
5 of 6
filings with a surplus
Average surplus $452K a year · 9% of revenue · last 6 filings
Fine: a surplus in 5 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
Pay to officers and key staff
$109K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $92K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$447K
6% of total assets
Looks good: liabilities are 6% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.7M
+31% vs prior year
Spent
$5.1M
To programs
0%
Net assets
$6.8M
By yearFY2020–FY2025
Revenue
$5.7M
FY2023▲ +31%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.5M
FY2021$4.3M
FY2022$4.4M
FY2023$5.7M
FY2024$5.1M
FY2025$6.1M
Expenses
$5.1M
FY2023▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.3M
FY2021$3.7M
FY2022$4.2M
FY2023$5.1M
FY2024$5.2M
FY2025$4.9M
Net assets
$6.8M
FY2023▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.5M
FY2021$6.1M
FY2022$6.2M
FY2023$6.8M
FY2024$1.6M
FY2025$2.7M

From the FY2023 Form 990 (year ending September 2023) · 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 Feb 1958.

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

Who runs it and what they're paid

20 people listed on the 990; $109K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
General Mana
$109,165Pt VII · Sec A
President
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Past Preside
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Ron Jeffries’s $112K as General Mana is at the 40th percentile of top reported officer pay among 3395 $1–10M education 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 · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Ron Jeffries$111,609$111,609$109,165$102,801$102,147$97,766

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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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 15aYes

Programs and updates

Hosts a regional fair with agricultural exhibits, entertainment, and community events.

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Provided by the organization

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3 programs · in their own filed words · FY2022
01

Central State Fair

Agricultural livestock exposition, fair and carnival

Pt IX · col B
02

Black Hills Stock Show

Livestock exposition

Pt IX · col B
03

Events Center

Community activities

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 3 funders$92K
See all 3 funders →
Grants paid · 2 grants · $24K · 2019–2022

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$5.7M
Ln 12
Gifts and grantsLn 1h$2.3M
Fees for servicesLn 2g$1.7M
Other incomeLn 4–11$1.6M
Money outPt IX
$5.1M
Ln 25
Owns and owesPt X
$6.8M
net assets · Ln 32
Cash and savingsLn 1–2$683K
Total assetsLn 16$7.3M
LiabilitiesLn 26$447K
PeoplePt VI, VII
20
listed · VII A
PaidVII A1
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.3M
Government grantsLn 1e$1.4M
Noncash giftsLn 1g$42K
Fees for servicesLn 2g$1.7M
Investment incomeLn 3$67K
Other incomeLn 4–11$1.6M
Gains on assetsLn 7$62K
Total revenueLn 12$5.7M
Assets in detailPt X, end of year
CashLn 1$148K
SavingsLn 2$535K
Cash and savings togetherLn 1–2$683K
InvestmentsLn 11–13$20K
Land, buildings, equipmentLn 10c$6.0M
Total assetsLn 16$7.3M
LiabilitiesLn 26$447K
Net assetsLn 32$6.8M
OperationsPt I, VI
EmployeesI 5241
VolunteersI 6203
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
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$536K$683K
InvestmentsLn 11–13$20K$20K
Land, buildings, equipmentLn 10c$5.1M$6.0M
Total assetsLn 16$6.4M$7.3M
LiabilitiesLn 26$157K$447K
Net assetsLn 32$6.2M$6.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$12K
Pay of current officers, directors and key staffLn 5$117K
Other salaries and wagesLn 7$1.1M
Pension plan contributionsLn 8$22K
Other employee benefitsLn 9$40K
Payroll taxesLn 10$103K
Accounting feesLn 11c$20K
Other fees for servicesLn 11g$936K
Advertising and promotionLn 12$95K
Office expensesLn 13$352K
OccupancyLn 16$986K
TravelLn 17$57K
Conferences, conventions and meetingsLn 19$25K
Depreciation, depletion and amortizationLn 22$261K
InsuranceLn 23$71K
Other expenses (24a–d)Ln 24$901K
Total functional expensesLn 25$5.1M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $6.1M$4.9M$1.1M$2.7M 990 PDF
FY2024 $5.1M$5.2M−$31K$1.6M 990 PDF
FY2023 Viewing $5.7M$5.1M$641K$6.8M 990 PDF
FY2022 $4.4M$4.2M$121K$6.2M 990 PDF
FY2021 $4.3M$3.7M$607K$6.1M 990 PDF
FY2020 $3.5M$3.3M$241K$5.5M 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 (6 parts)
Part I · Summary $5,730,392 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,291,046$2,322,741
I-9 Program service revenuePrior year $1,681,384$1,736,247
I-10 Investment incomePrior year −$63,656$67,402
I-11 Other revenuePrior year $1,449,583$1,604,002
I-12 Total revenuePrior year $4,358,357$5,730,392
I-13 Grants and similar amounts paid$12,058
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,061,540$1,371,945
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,175,383$3,704,957
I-18 Total expensesPrior year $4,236,923$5,088,960
I-19 Revenue less expensesPrior year $121,434$641,432
Part VI · Governance 14 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $5,730,392 across 12 lines filed
Lines not itemized here account for $689,217 of total revenue; see the IRS return.
VIII-1b Membership dues$1,270
VIII-1d Related organizations$15,000
VIII-1e Government grants$1,426,212
VIII-1f All other contributions, gifts and grants$880,259
VIII-1g Noncash contributions (included above)$42,450
VIII-1h Total contributions, gifts and grants$2,322,741
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,736,247$1,736,247
VIII-3 Investment incomeExcluded from tax $5,312$5,312
VIII-6 Net rental income or lossRelated to mission $885,503$885,503
VIII-7 Net gain or loss on sales of assetsExcluded from tax $62,090$62,090
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $29,282$29,282
VIII-12 Total revenueRelated to mission $3,340,249 · Excluded from tax $67,402$5,730,392
Part IX · Statement of functional expenses $5,088,960 across 16 lines filed
IX-1 Grants to domestic organizations$12,058
IX-5 Pay of current officers, directors and key staff$117,409
IX-7 Other salaries and wages$1,090,230
IX-8 Pension plan contributions$21,616
IX-9 Other employee benefits$39,578
IX-10 Payroll taxes$103,112
IX-11c Accounting fees$19,880
IX-11g Other fees for services$936,239
IX-12 Advertising and promotion$94,502
IX-13 Office expenses$352,244
IX-16 Occupancy$985,535
IX-17 Travel$57,248
IX-19 Conferences, conventions and meetings$25,346
IX-22 Depreciation, depletion and amortization$261,440
IX-23 Insurance$71,109
IX-24 Other expenses (24a–d)$901,414
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$5,088,960
Part X · Balance sheet $7,285,392 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $63,361$147,832
X-2 Savings and temporary cash investmentsStart of year $473,053$534,929
X-4 Accounts receivableStart of year $663,057$473,059
X-8 Inventories for sale or useStart of year $10,188$37,909
X-9 Prepaid expenses and deferred chargesStart of year $29,837$44,769
X-10c Land, buildings and equipment, netStart of year $5,094,245$6,027,165
X-11 Publicly traded securitiesStart of year $20,274$19,729
X-16 Total assetsStart of year $6,354,015$7,285,392
X-17 Accounts payable and accrued expensesStart of year $146,836$417,495
X-19 Deferred revenueStart of year $10,000$29,286
X-26 Total liabilitiesStart of year $156,836$446,781
X-32 Total net assets or fund balancesStart of year $6,197,179$6,838,611
X-33 Total liabilities and net assetsStart of year $6,354,015$7,285,392
Part XI · Reconciliation of net assets $6,838,611 net assets at year end
XI-1 Total revenue$5,730,392
XI-2 Total expenses$5,088,960
XI-3 Revenue less expenses$641,432
XI-4 Net assets at start of year$6,197,179
XI-10 Net assets at end of year$6,838,611

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

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