Limestone County Fair Association FY2020 filing

Tax-deductible

Groesbeck, TX501(c)(3)Public & Societal BenefitEIN 74-2978801Revenue $24K in FY2020

On file with the IRSPo Box 965, 76642-0965 · Groesbeck, TXTax-exempt since Sep 2014Publicly supported — 509(a)(2)

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To promote agriculture and provide scholarships for the youth of Limestone County, texas.

501(c)(3) charity; gifts are tax-deductible.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

Before you give

FY2020 · 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
3 of 5
filings with a surplus
Average surplus $34K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
57 mo
of spending, in cash
Looks good: 56.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$344
0.4% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$24K
Spent
$17K
To programs
0%
Net assets
$84K
By yearFY2020–FY2024
Revenue
$24K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$24K
FY2021$765K
FY2022$620K
FY2023$535K
FY2024$670K
Expenses
$17K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$17K
FY2021$803K
FY2022$626K
FY2023$334K
FY2024$662K
Net assets
$84K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$84K
FY2021$64K
FY2022$58K
FY2023$259K
FY2024$267K

From the FY2020 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Exemption reinstated (2010-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Sep 2014.

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

Where the money goes

What each dollar paid for.

Management & general 100% · $17K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Limestone 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

Supports youth agriculture and offers scholarships in Limestone County, Texas.

Questions for Limestone County Fair Association

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Provide scholarships and promote agriculture showmanship.

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 · this organization's grantmaking
Grants paid · 3 grants · $183K · 2021–2024
Unitemized GrantFY2024$66,250
Unitemized GrantFY2023$77,770
Unitemized GrantFY2021$39,232

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$24K
Ln 12
Gifts and grantsLn 1h$106K
Investment incomeLn 3$22
Money outPt IX
$17K
Ln 25
Managementcol C$17K
Owns and owesPt X
$84K
net assets · Ln 32
Cash and savingsLn 1–2$81K
Total assetsLn 16$85K
LiabilitiesLn 26$344
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$106K
Investment incomeLn 3$22
Gains on assetsLn 7$0
Total revenueLn 12$24K
Assets in detailPt X, end of year
CashLn 1$81K
SavingsLn 2$0
Cash and savings togetherLn 1–2$81K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$85K
LiabilitiesLn 26$344
Net assetsLn 32$84K
OperationsPt I, VI
EmployeesI 50
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 FY20End FY20
Cash and savingsLn 1–2$74K$81K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$78K$85K
LiabilitiesLn 26−$26$344
Net assetsLn 32$78K$84K
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$145$145
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$798$798
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$275$275
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$0
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$9K$9K
All other expensesLn 24e$0
Total functional expensesLn 25$17K$0$17K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $670K$662K$9K$267K 990 PDF
FY2023 $535K$334K$201K$259K 990 PDF
FY2022 $620K$626K−$6K$58K 990 PDF
FY2021 $765K$803K−$39K$64K 990 PDF
FY2020 Viewing $24K$17K$7K$84K 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 $23,784 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $28,096$106,400
I-9 Program service revenue$0
I-10 Investment incomePrior year $10$22
I-11 Other revenuePrior year −$24,179−$82,638
I-12 Total revenuePrior year $3,927$23,784
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 $4,206$17,145
I-18 Total expensesPrior year $4,206$17,145
I-19 Revenue less expensesPrior year −$279$6,639
Part VI · Governance 0 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members0
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 $23,784 across 9 lines filed
VIII-1b Membership dues$1,925
VIII-1f All other contributions, gifts and grants$104,475
VIII-1h Total contributions, gifts and grants$106,400
VIII-3 Investment incomeRelated to mission $22$22
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events−$82,638
VIII-12 Total revenueRelated to mission $22$23,784
Part IX · Statement of functional expenses $17,145 across 31 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 feesManagement $145$145
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotionManagement $798$798
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 TravelManagement $275$275
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 amortization$0
IX-23 InsuranceManagement $7,138$7,138
IX-24 Other expenses (24a–d)Management $8,789$8,789
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $0 · Management $17,145 · Fundraising $0$17,145
Part X · Balance sheet $84,621 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $74,071$81,023
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or useStart of year $3,541$3,541
X-9 Prepaid expenses and deferred charges$57
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assets$0
X-16 Total assetsStart of year $77,612$84,621
X-17 Accounts payable and accrued expensesStart of year −$26$343
X-25 Other liabilities$1
X-26 Total liabilitiesStart of year −$26$344
X-27 Net assets without donor restrictionsStart of year $77,638$84,277
X-32 Total net assets or fund balancesStart of year $77,638$84,277
X-33 Total liabilities and net assetsStart of year $77,612$84,621
Part XI · Reconciliation of net assets $84,277 net assets at year end
XI-1 Total revenue$23,784
XI-2 Total expenses$17,145
XI-3 Revenue less expenses$6,639
XI-4 Net assets at start of year$77,638
XI-10 Net assets at end of year$84,277

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

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