Chesterfield County Fair Association

Nonprofit profile at a glance

EIN
540760765
IRS 990 coverage
2015–2023
Forms available
Form 990 2023
Location
Chesterfield, VA, USA
Phone
8046980857
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fairs

Official website

Reported finances

Revenue
$718,526
Expenses
$738,313
Assets
$821,250
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

15 people listed

Executive titles in this filing

  • Terry Lynn (President)
  • DEBRA KNESAL (VICE PRESIDENT)

Highest reported compensation

  • BRENDA WHITE VAUGHN (DIRECTOR): $15,000 total reported compensation
  • LORIE LYTHGOE (TREASURER): $5,000 total reported compensation
  • DONNIE YANCEY (SECRETARY): $5,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Plan develop and put on an annual agricutural fair that educates and entertains the general public

What it reported doing in 2023

Special attractions for all ages chain saw arts&crafts bingo camel & pony rides hypnotist show agicadabra show barrel train pirate show cowboy roping axe throwing alligator show illusionists hertiage village civ, il war display indian teepee shanty town music kiddie rides petting zoo mechanical bull rodeo horse show lawn mower races hotwheel kid truck rodeo all special attractions are included in the gate admission.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 72
  • Accountability: 82
  • Sustainability: 45
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.5%; rating input score 83
  • Program expense ratio: 81.3%; rating input score 81
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 80%; rating input score 80; 0th 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 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.8%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 1.11; rating input score 46; 46th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 3.7%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -0.6% per year; rating input score 0; 18th percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 57th percentile among comparable filings
  • Asset growth: 13.9% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 83.5% of revenue deployed · 81.3% of spending went to programs
  • Governance: 13 of 13 board members independent · 5 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $600K in reported program spending
  • Leadership: top reported pay $15K · 15 people listed
  • Consistency: 39 of 41 current checks pass · 2 findings to review
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2015 to 2023
  • Contacts: How to reach this organization
  • Money network: 5 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.

  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 46/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX AllOtherExpenses column sum did not reconcile in the filed values.
  • Review — Sustainability: Officer compensation ratio scored 56/100.