Bremer County Fair Association
Nonprofit profile at a glance
- EIN
- 421335128
- IRS 990 coverage
- 2014–2024
- Forms available
- Form 990 2024
- Location
- Sumner, IA, USA
- Phone
- 3194041847
- Rating
- 58
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Community Service Clubs
Reported finances
- Revenue
- $1,122,888
- Expenses
- $992,984
- Assets
- $2,363,912
- Liabilities
- $510,000
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- JOSH PETERSEN (President)
- JOSH GILBERT (Vice President)
Highest reported compensation
- DANNY BULS (Treasurer): $2,950 total reported compensation
- JOSH PETERSEN (President): $1,750 total reported compensation
- DAWN BERGMANN (Secretary): $1,500 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The organization's mission is to present the Bremer County Fair at a minimal cost to participants and guests.
What it reported doing in 2024
Promote the fair for the children and young adults. Learn the 4-H motto and the FFA motto.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 58
- Transparency & Controls: 90
- Accountability: 0
- Sustainability: 61
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 62.3%; rating input score 62
- Program expense ratio: 70.5%; rating input score 70
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
- Governance controls: 0 of 9 controls in place; rating input score 0
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Fail
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 11.6%; rating input score 64; 64th percentile among comparable filings
- Total-asset coverage ratio: 2.38; rating input score 69; 69th percentile among comparable filings
- Liabilities to assets ratio: 0.22; rating input score 30; 30th percentile among comparable filings
- Officer compensation ratio: 0.7%; rating input score 60; 60th percentile among comparable filings
Growth
- Program expense growth: 15.9% per year; rating input score 100; 77th percentile among comparable filings
- Revenue growth: 12% per year; rating input score 100; 72nd percentile among comparable filings
- Asset growth: 10.6% per year; rating input score 100; 60th percentile among comparable filings
Details
- Where the money goes: 62.3% of revenue deployed · 70.5% of spending went to programs
- Governance: 0 of 4 board members independent · 0 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $700K in reported program spending
- Leadership: top reported pay $3K · 4 people listed
- Consistency: 19 of 19 current checks pass
- Schedules: 3 filed schedules
- Filing history: 11 filing years from 2014 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 8 of 8 not reported.
- Moderate — Sustainability: Liabilities to assets ratio scored 30/100.