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Madison County Fair Association FY2021 filing

Tax-deductible

Madisonville, TX501(c)(3)Since 1981Recreation & Sports EIN 74-2399665Revenue $894K in FY2021

On file with the IRSPo Box 1151, 77864-1151 · Madisonville, TXTax-exempt since May 1988Publicly supported — 509(a)(2)

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501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Status: IRS Pub. 78 · Programs: Part IX

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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
5 of 6
filings with a surplus
Average surplus $33K a year · 3% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$23K
5% of total assets
Looks good: liabilities are 5% 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
$894K
+120% vs prior year
Spent
$854K
To programs
92%
Net assets
$457K
By yearFY2020–FY2025
Revenue
$894K
FY2021▲ +120%
Tap a bar for its year
Revenue by fiscal year
FY2020$406K
FY2021$894K
FY2022$1.1M
FY2023$1.1M
FY2024$1.3M
FY2025$1.3M
Expenses
$854K
FY2021▲ +95%
Tap a bar for its year
Expenses by fiscal year
FY2020$439K
FY2021$854K
FY2022$1.0M
FY2023$1.1M
FY2024$1.2M
FY2025$1.2M
Net assets
$457K
FY2021▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$416K
FY2021$457K
FY2022$506K
FY2023$539K
FY2024$614K
FY2025$647K

From the FY2021 Form 990 (year ending August 2021) · figures checked against the IRS filing · see the original

990 PDF Claim
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 May 1988.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $789K Management & general 8% · $64K

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

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Jill Rouse
Vice President
$0Pt VII · Sec A
Bob Choiniere
President
$0Pt VII · Sec A
Cody Regini
Director
$0Pt VII · Sec A
Jay Hardy
Treasurer
$0Pt VII · Sec A
Sara Hudson
Reporter
$0Pt VII · Sec A
Billy Newton
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Amy Farris
Director
$0Pt VII · Sec A
See Madison County 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Teaches students livestock, food, clothing, art, and science skills through fair projects and sales.

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Provided by the organization

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1 program · $789K · in their own filed words · FY2020
01

See schedule o

$789Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$894K
Ln 12
Fees for servicesLn 2g$798K
Other incomeLn 4–11$52K
Gifts and grantsLn 1h$45K
Money outPt IX
$854K
Ln 25
Programscol B$789K
Managementcol C$64K
Owns and owesPt X
$457K
net assets · Ln 32
Cash and savingsLn 1–2$170K
Total assetsLn 16$480K
LiabilitiesLn 26$23K
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$45K
Fees for servicesLn 2g$798K
Investment incomeLn 3$80
Other incomeLn 4–11$52K
Total revenueLn 12$894K
Assets in detailPt X, end of year
CashLn 1$170K
Cash and savings togetherLn 1–2$170K
Land, buildings, equipmentLn 10c$304K
Total assetsLn 16$480K
LiabilitiesLn 26$23K
Net assetsLn 32$457K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderAugust
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 FY21End FY21
Cash and savingsLn 1–2$113K$170K
Land, buildings, equipmentLn 10c$324K$304K
Total assetsLn 16$441K$480K
LiabilitiesLn 26$25K$23K
Net assetsLn 32$416K$457K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$3K$3K
Office expensesLn 13$7K$5K$2K
OccupancyLn 16$18K$18K
InterestLn 20$1K$1K
Depreciation, depletion and amortizationLn 22$20K$20K
Other expenses (24a–d)Ln 24$766K$766K
All other expensesLn 24e$40K$18K$21K
Total functional expensesLn 25$854K$789K$64K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.3M$1.2M$33K$647K 990 PDF
FY2024 $1.3M$1.2M$75K$614K 990 PDF
FY2023 $1.1M$1.1M$33K$539K 990 PDF
FY2022 $1.1M$1.0M$49K$506K 990 PDF
FY2021 Viewing $894K$854K$41K$457K 990 PDF
FY2020 $406K$439K−$32K$416K 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 FY2021 990 (6 parts)
Part I · Summary $894,370 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,740$44,600
I-9 Program service revenuePrior year $360,537$797,938
I-10 Investment incomePrior year $400$80
I-11 Other revenuePrior year $39,572$51,752
I-12 Total revenuePrior year $406,249$894,370
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 $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $438,701$853,676
I-18 Total expensesPrior year $438,701$853,676
I-19 Revenue less expensesPrior year −$32,452$40,694
Part VI · Governance 15 of 15 board members independent, 4 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $894,370 across 8 lines filed
VIII-1f All other contributions, gifts and grants$44,600
VIII-1h Total contributions, gifts and grants$44,600
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $797,938$797,938
VIII-3 Investment incomeRelated to mission $80$80
VIII-6 Net rental income or lossExcluded from tax $11,895$11,895
VIII-8 Net income from fundraising eventsExcluded from tax $26,607$26,607
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $13,250$13,250
VIII-12 Total revenueRelated to mission $811,268 · Unrelated business $0 · Excluded from tax $38,502$894,370
Part IX · Statement of functional expenses $853,676 across 7 lines filed
IX-11c Accounting feesManagement $2,850$2,850
IX-13 Office expensesPrograms $5,165 · Management $1,793$6,958
IX-16 OccupancyManagement $17,700$17,700
IX-20 InterestManagement $1,090$1,090
IX-22 Depreciation, depletion and amortizationManagement $19,503$19,503
IX-24 Other expenses (24a–d)Programs $765,877$765,877
IX-24e All other expensesPrograms $18,292 · Management $21,406$39,698
IX-25 Total functional expensesPrograms $789,334 · Management $64,342 · Fundraising $0$853,676
Part X · Balance sheet $480,185 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $112,955$170,264
X-4 Accounts receivableStart of year $2,825$5,840
X-10c Land, buildings and equipment, netStart of year $323,584$304,081
X-16 Total assetsStart of year $441,114$480,185
X-25 Other liabilitiesStart of year $24,709$23,086
X-26 Total liabilitiesStart of year $24,709$23,086
X-32 Total net assets or fund balancesStart of year $416,405$457,099
X-33 Total liabilities and net assetsStart of year $441,114$480,185
Part XI · Reconciliation of net assets $457,099 net assets at year end
XI-1 Total revenue$894,370
XI-2 Total expenses$853,676
XI-3 Revenue less expenses$40,694
XI-4 Net assets at start of year$416,405
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$457,099

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

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