Madison County Fair Association

Nonprofit profile at a glance

EIN
742399665
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Madisonville, TX, USA
Phone
2542477803
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fairs

Reported finances

Revenue
$1,259,267
Expenses
$1,226,716
Assets
$751,966
Liabilities
$105,347

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

Leadership & pay

15 people listed

Executive titles in this filing

  • WESTON ROUSE (PRESIDENT)
  • CODY REGINI (VICE PRESIDENT)

People named in this filing

  • WESTON ROUSE (PRESIDENT)
  • KINSEY JOHNSON (DIRECTOR)
  • CODY REGINI (VICE PRESIDENT)

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

See schedule o

Operating model

Revenue model
Earned-program. 89% of the money available for current operations came from fees and other program revenue.
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

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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 81
  • Transparency & Controls: 86
  • Accountability: 70
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.8%; rating input score 90
  • Program expense ratio: 92.2%; rating input score 92
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 19th 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: 2 of 7 controls in place; rating input score 29
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.6%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 0.61; rating input score 28; 28th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 15.8% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 16.2% per year; rating input score 100; 81st percentile among comparable filings
  • Asset growth: 11% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 89.8% of revenue deployed · 92.2% of spending went to programs
  • Governance: 15 of 15 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.1M in reported program spending
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2019 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 7 not reported.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Total-asset coverage ratio scored 28/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.