Mid-south Fair Inc

Nonprofit profile at a glance

EIN
620475768
IRS 990 coverage
2011–2014
Forms available
Form 990 2014
Location
Memphis, TN, USA
Phone
9012748800
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fairs

Official website

Reported finances

Revenue
$1,114,517
Expenses
$941,109
Assets
$346,013
Liabilities
$1,820,913

Source: IRS Form 990. Selected filing: tax year 2014. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • MICHAEL DOYLE (PRESIDENT)

People named in this filing

  • BELINDA ANDERSON (DIRECTOR)
  • DEBRA PACE BRANAN (DIRECTOR)
  • CYNTHIA B CHILDRESS (DIRECTOR)

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 2014. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Mid-south fair serves the community by holding an annual fair for the mid- south geographic region.

What it reported doing in 2014

Mid-south fair, inc. Operates an annual regional fair to stimulate community involvement, to promote agricultural industry, and to encourage the development of musical and artistic abilities in the community.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating revenue.
Distribution model
Direct operator. The filing allocates 99% 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 - 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 total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 93
  • Accountability: 70
  • Sustainability: 52
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 65.9%; rating input score 66
  • Program expense ratio: 78%; rating input score 78
  • 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: 100%; rating input score 100; 73rd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 15.6%; rating input score 77; 77th percentile among comparable filings
  • Total-asset coverage ratio: 0.37; rating input score 20; 20th percentile among comparable filings
  • Liabilities to assets ratio: 5.26; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 85; 85th percentile among comparable filings

Growth

  • Program expense growth: 18% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 31.4% per year; rating input score 100; 92nd percentile among comparable filings
  • Asset growth: -7.5% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 65.9% of revenue deployed · 78% of spending went to programs
  • Governance: 15 of 15 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $734K in reported program spending
  • Leadership: top reported pay $0 · 14 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 4 filing years from 2011 to 2014
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 20/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.