Grant County Agricultural Association

Nonprofit profile at a glance

EIN
416037303
IRS 990 coverage
2016–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Herman, MN, USA
Phone
3206772732
Rating
81
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$195,882
Expenses
$206,289
Assets
$313,518
Liabilities
$76,641

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

Leadership & pay

3 people listed

Executive titles in this filing

  • DOYLE SPERR (President)
  • SCOTT LIBBESMEIER (Vice President)

People named in this filing

  • DOYLE SPERR (President)
  • SCOTT LIBBESMEIER (Vice President)
  • MICHELLE COREY-SPERR (TREASURER/SEC)

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

Hosting the annual county fair.

What it reported doing in 2024

To provide a place for the community to come together in a safe environment, providing entertainment for all ages and a place to have 4-H exibitions for the children. To reward the community and surrounding area for its hard work. These goals are all accomplished by providing a county fair.

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 - 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: 89
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 39
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.1%; rating input score 99
  • Fundraising efficiency: Limited

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: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -5.3%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 1.52; rating input score 52; 52nd percentile among comparable filings
  • Liabilities to assets ratio: 0.24; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -0.2% per year; rating input score 0; 30th percentile among comparable filings
  • Revenue growth: 4.8% per year; rating input score 100; 51st percentile among comparable filings
  • Asset growth: 21.6% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.1% of spending went to programs
  • Governance: 3 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $204K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 20 of 20 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2016 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.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 29/100.
  • Review — Sustainability: Total-asset coverage ratio scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.