Carter Co Fair Inc

Nonprofit profile at a glance

EIN
311627817
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Grayson, KY, USA
Phone
6064750688
Rating
84
Verdict
STRONG
Rating confidence
Standard
Sector
Fairs

Reported finances

Revenue
$130,399
Expenses
$120,183
Assets
$343,756
Liabilities
$60,331

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • Kim Flaugher (President)
  • Cindy Gibson (Vice President)

People named in this filing

  • Kim Flaugher (President)
  • Cindy Gibson (Vice President)
  • Will Davis (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promotion of Rural Cultural and Community Development

What it reported doing in 2024

Promotion of rural, culture, youth advancement, local tourism, economic development, agriculture and rural cultural resources.

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

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 100
  • Accountability: 88
  • Sustainability: 57
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.7%; rating input score 71
  • Program expense ratio: 76.7%; rating input score 77
  • Fundraising efficiency: $40.38 raised per $1 spent on fundraising; rating input score 73; 73rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 7.8%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 2.86; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.18; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 5.8% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: 6.9% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: -2% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 70.7% of revenue deployed · 76.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $92K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Review — Sustainability: Operating margin scored 56/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.