Franklin County Argicultural Society

Nonprofit profile at a glance

EIN
010225008
IRS 990 coverage
2014–2023
Forms available
Form 990 2023
Location
Farmington, ME, USA
Phone
2077781514
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Animal Husbandry

Reported finances

Revenue
$1,068,170
Expenses
$966,181
Assets
$397,904
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • RANDALL HALL (PRESIDENT)
  • JEFFREY WRIGHT (VICE PRESIDENT)

Highest reported compensation

  • NEAL YEATON (SECRETARY): $17,627 total reported compensation

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

Overview

Mission

Promote agriculture, educating agricultural fair with activities and exhibits featurng agricultural live stock and other related.

What it reported doing in 2023

Education of residents and tourists for agricultural purposes and entertainment to also promote tourism.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program 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 - 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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 67
  • Transparency & Controls: 90
  • Accountability: 63
  • Sustainability: 53
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 72.6%; rating input score 73
  • Program expense ratio: 80.2%; rating input score 80
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 12
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 9.5%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.41; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 1.8%; rating input score 59; 59th percentile among comparable filings

Growth

  • Program expense growth: 3.7% per year; rating input score 100; 38th percentile among comparable filings
  • Revenue growth: 5.2% per year; rating input score 100; 47th percentile among comparable filings
  • Asset growth: -8.2% per year; rating input score 0; 4th percentile among comparable filings

Details

  • Where the money goes: 72.6% of revenue deployed · 80.2% of spending went to programs
  • Governance: 9 of 9 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $18K · 9 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 9 filing years from 2014 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Governance controls: 6 of 7 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Officer compensation ratio scored 59/100.