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Grant County Fair INC FY2018 filing

Tax-deductible

Williamstown, KY501(c)(3)Recreation & Sports EIN 61-1196591Revenue $200K in FY2018

On file with the IRSgrantcofairky.comPo Box 96, 41097-0096 · Williamstown, KYTax-exempt since Feb 2003Publicly supported — 509(a)(2)

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Community education, cultural exposition, and promotion of agriculture.

501(c)(3) charity; gifts are tax-deductible.
63¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2018 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 7
filings with a surplus
Average surplus $968 a year · under 1% of revenue · last 7 filings
Fine: a surplus in 5 of the last 7 filings.
Pt I · Ln 19 · 7 filings
Spent on programs
63%
of spending
Worth a look: 63% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$382K
44% of total assets
Looks good: liabilities are 44% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$200K
Spent
$196K
To programs
63%
Net assets
$478K
By yearFY2018–FY2024
Revenue
$200K
FY2018
Tap a bar for its year
Revenue by fiscal year
FY2018$200K
FY2019$160K
FY2020$15K
FY2021$259K
FY2022$175K
FY2023$231K
FY2024$218K
Expenses
$196K
FY2018
Tap a bar for its year
Expenses by fiscal year
FY2018$196K
FY2019$164K
FY2020$46K
FY2021$247K
FY2022$169K
FY2023$217K
FY2024$214K
Net assets
$478K
FY2018
Tap a bar for its year
Net assets by fiscal year
FY2018$478K
FY2019$475K
FY2020$444K
FY2021$456K
FY2022$462K
FY2023$477K
FY2024$481K

From the FY2018 Form 990 · see the original

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You’re viewing the FY2018 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2003.

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

Where the money goes

63 cents of each dollar spent went to programs.

Program services 63% · $124K Management & general 37% · $72K

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

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation
Jamey Rhoton
President
$0Pt VII · Sec A
Tom McClure
Vice President
$0Pt VII · Sec A
Irvin Faulkner
Vice President
$0Pt VII · Sec A
Craig Covey
Secretary
$0Pt VII · Sec A
Travis Rhoton
Treasurer
$0Pt VII · Sec A
Tommy Lawson
Asst. Treasurer
$0Pt VII · Sec A
See Grant County Fair 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Educates communities, shares culture, and promotes agriculture.

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Provided by the organization

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1 program · $124K · in their own filed words · FY2018
01

County Fair and other periodic events raise funds to promote awareness of and interest in agricultural improvements and developments in Grant County, and support of youth groups such as 4-H. Income is utilized for participation awards, park maintenance, and improvements for public benefit.

$124Kprogram 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
A Y McDonald Mfg Co Charitable FoundationFY2024$1K
Total grants receivedfrom 1 funder$1K

By the numbers

The FY2018 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$200K
Ln 12
Fees for servicesLn 2g$197K
Other incomeLn 4–11$2K
Investment incomeLn 3$23
Money outPt IX
$196K
Ln 25
Programscol B$124K
Managementcol C$72K
Owns and owesPt X
$478K
net assets · Ln 32
Cash and savingsLn 1–2$8K
Total assetsLn 16$860K
LiabilitiesLn 26$382K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$197K
Investment incomeLn 3$23
Other incomeLn 4–11$2K
Total revenueLn 12$200K
Assets in detailPt X, end of year
CashLn 1$8K
Cash and savings togetherLn 1–2$8K
Land, buildings, equipmentLn 10c$852K
Total assetsLn 16$860K
LiabilitiesLn 26$382K
Net assetsLn 32$478K
OperationsPt I, VI
EmployeesI 50
VolunteersI 620
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 FY18End FY18
Cash and savingsLn 1–2$12K$8K
Land, buildings, equipmentLn 10c$865K$852K
Total assetsLn 16$878K$860K
LiabilitiesLn 26$403K$382K
Net assetsLn 32$474K$478K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$57$57
Management feesLn 11a$298$0$298$0
Legal feesLn 11b$1K$0$1K$0
Accounting feesLn 11c$185$0$185$0
Advertising and promotionLn 12$2K$2K$0$0
Office expensesLn 13$162$0$162$0
OccupancyLn 16$1K$0$1K$0
TravelLn 17$656$0$656$0
InterestLn 20$12K$0$12K$0
Depreciation, depletion and amortizationLn 22$13K$0$13K$0
InsuranceLn 23$9K$0$9K$0
Other expenses (24a–d)Ln 24$18K$18K$0$0
All other expensesLn 24e$138K$104K$34K$0
Total functional expensesLn 25$196K$124K$72K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $218K$214K$4K$481K 990 PDF
FY2023 $231K$217K$15K$477K 990 PDF
FY2022 $175K$169K$6K$462K 990 PDF
FY2021 $259K$247K$12K$456K 990 PDF
FY2020 $15K$46K−$31K$444K 990 PDF
FY2019 $160K$164K−$3K$475K 990 PDF
FY2018 Viewing $200K$196K$4K$478K 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 O · Explanations
See the full FY2018 990 (6 parts)
Part I · Summary $199,857 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,200$0
I-9 Program service revenuePrior year $215,617$197,409
I-10 Investment incomePrior year $358$23
I-11 Other revenuePrior year $680$2,425
I-12 Total revenuePrior year $233,855$199,857
I-13 Grants and similar amounts paidPrior year $332$57
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $213,951$195,968
I-18 Total expensesPrior year $214,283$196,025
I-19 Revenue less expensesPrior year $19,572$3,832
Part VI · Governance 6 of 6 board members independent, 5 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $199,857 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $197,409$197,409
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$23
VIII-6 Net rental income or lossRelated to mission $2,425$2,425
VIII-12 Total revenueRelated to mission $2,448 · Unrelated business $0 · Excluded from tax $197,409$199,857
Part IX · Statement of functional expenses $196,025 across 13 lines filed
IX-1 Grants to domestic organizationsPrograms $57$57
IX-11a Management feesPrograms $0 · Management $298 · Fundraising $0$298
IX-11b Legal feesPrograms $0 · Management $1,225 · Fundraising $0$1,225
IX-11c Accounting feesPrograms $0 · Management $185 · Fundraising $0$185
IX-12 Advertising and promotionPrograms $1,934 · Management $0 · Fundraising $0$1,934
IX-13 Office expensesPrograms $0 · Management $162 · Fundraising $0$162
IX-16 OccupancyPrograms $0 · Management $1,347 · Fundraising $0$1,347
IX-17 TravelPrograms $0 · Management $656 · Fundraising $0$656
IX-20 InterestPrograms $0 · Management $12,000 · Fundraising $0$12,000
IX-22 Depreciation, depletion and amortizationPrograms $0 · Management $13,180 · Fundraising $0$13,180
IX-23 InsurancePrograms $0 · Management $9,308 · Fundraising $0$9,308
IX-24 Other expenses (24a–d)Programs $17,957 · Management $0 · Fundraising $0$17,957
IX-24e All other expensesPrograms $103,678 · Management $34,038 · Fundraising $0$137,716
IX-25 Total functional expensesPrograms $123,626 · Management $72,399 · Fundraising $0$196,025
Part X · Balance sheet $860,238 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $12,380$8,233
X-10c Land, buildings and equipment, netStart of year $865,185$852,005
X-16 Total assetsStart of year $877,565$860,238
X-17 Accounts payable and accrued expensesStart of year $3,415$723
X-26 Total liabilitiesStart of year $403,415$382,256
X-32 Total net assets or fund balancesStart of year $474,150$477,982
X-33 Total liabilities and net assetsStart of year $877,565$860,238
Part XI · Reconciliation of net assets $477,982 net assets at year end
XI-1 Total revenue$199,857
XI-2 Total expenses$196,025
XI-3 Revenue less expenses$3,832
XI-4 Net assets at start of year$474,150
XI-10 Net assets at end of year$477,982

Form 990 e-file (XML) FY2018 from the IRS · Classification, formation year and address from the IRS Business Master File

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