Hernando County Fair Association INC FY2020 filing

IRS exemption revoked

Brooksville, FLUnknown exempt organizationEIN 59-2106878Revenue $147K in FY2020

On file with the IRShernandofairgrounds.comPo Box 10456 · Brooksville, FL

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Provide to the community annual County Fair, special events, flea market, auditorium grounds rental, and management of Hernando County fairgrounds

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
Revoked
IRS exemption revoked
Concern: the IRS revoked its tax exemption.
IRS Auto-Revocation List
Latest return
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 2
filings with a surplus
Average deficit $21K a year · 11% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 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
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$101K
32% of total assets
Looks good: liabilities are 32% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$147K
Spent
$222K
To programs
100%
Net assets
$213K
By yearFY2020–FY2021
Revenue
$147K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$147K
FY2021$230K
Expenses
$222K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$222K
FY2021$198K
Net assets
$213K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$213K
FY2021$246K

From the FY2020 Form 990 (year ending May 2020) · see the original

Form 990 (PDF) Claim
IRS revoked this organization's tax-exempt status on October 15, 2024
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2021) →

Is it real?

No. The IRS revoked its tax exemption. Latest filing on record: FY2021.

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% · $222K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Hernando County Fair Association 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 15aYes

Programs and updates

Hosts county fairs, special events, and flea markets, and manages fairgrounds.

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Provided by the organization

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3 programs · $222K · in their own filed words · FY2019
01

Special events for community benefit flea market for community benefit

$210Kprogram expense
02

Hernando county fair-this is the main purpose of this assoc

$7Kprogram expense
03

Rental of buildings grounds to the community

$5Kprogram expense

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$147K
Ln 12
Fees for servicesLn 2g$147K
Gifts and grantsLn 1h$840
Money outPt IX
$222K
Ln 25
Programscol B$222K
Owns and owesPt X
$213K
net assets · Ln 32
Cash and savingsLn 1–2$55K
Total assetsLn 16$315K
LiabilitiesLn 26$101K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$840
Fees for servicesLn 2g$147K
Total revenueLn 12$147K
Assets in detailPt X, end of year
CashLn 1$55K
Cash and savings togetherLn 1–2$55K
Land, buildings, equipmentLn 10c$184K
Total assetsLn 16$315K
LiabilitiesLn 26$101K
Net assetsLn 32$213K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderMay
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 FY20End FY20
Cash and savingsLn 1–2$281K$55K
Land, buildings, equipmentLn 10c$207K$184K
Total assetsLn 16$576K$315K
LiabilitiesLn 26$288K$101K
Net assetsLn 32$288K$213K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$5K$5K
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$2K$2K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$83K$83K
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$24K$24K
InsuranceLn 23$13K$13K
Other expenses (24a–d)Ln 24$16K$16K
All other expensesLn 24e$78K$78K
Total functional expensesLn 25$222K$222K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest $230K$198K$32K$246K 990 PDF
FY2020 Viewing $147K$222K−$75K$213K 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 FY2020 990 (6 parts)
Part I · Summary $147,378 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,405$840
I-9 Program service revenuePrior year $238,220$146,538
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $239,625$147,378
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 $271,110$221,975
I-18 Total expensesPrior year $271,110$221,975
I-19 Revenue less expensesPrior year −$31,485−$74,597
Part VI · Governance 15 of 15 board members independent, no flags
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $147,378 across 4 lines filed
VIII-1b Membership dues$840
VIII-1h Total contributions, gifts and grants$840
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)$146,538
VIII-12 Total revenue$147,378
Part IX · Statement of functional expenses $221,975 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesPrograms $4,561$4,561
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionPrograms $1,578$1,578
IX-13 Office expensesPrograms $1,710$1,710
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 OccupancyPrograms $82,847$82,847
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $23,726$23,726
IX-23 InsurancePrograms $13,013$13,013
IX-24 Other expenses (24a–d)Programs $16,125$16,125
IX-24e All other expensesPrograms $78,415$78,415
IX-25 Total functional expensesPrograms $221,975 · Management $0 · Fundraising $0$221,975
Part X · Balance sheet $314,639 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $281,190$54,761
X-4 Accounts receivableStart of year $57,078$45,570
X-9 Prepaid expenses and deferred chargesStart of year $30,500$30,500
X-10c Land, buildings and equipment, netStart of year $207,252$183,808
X-16 Total assetsStart of year $576,020$314,639
X-17 Accounts payable and accrued expensesStart of year $2,608$3,859
X-24 Unsecured notes and loans payableStart of year $285,402$97,365
X-26 Total liabilitiesStart of year $288,010$101,224
X-32 Total net assets or fund balancesStart of year $288,010$213,415
X-33 Total liabilities and net assetsStart of year $576,020$314,639
Part XI · Reconciliation of net assets $213,415 net assets at year end
XI-1 Total revenue$147,378
XI-2 Total expenses$221,975
XI-3 Revenue less expenses−$74,597
XI-4 Net assets at start of year$288,010
XI-9 Other changes in net assets$2
XI-10 Net assets at end of year$213,415

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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