Phelps County Agricultural Society

Nonprofit profile at a glance

EIN
470547558
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Holdrege, NE, USA
Phone
3089956319
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$181,135
Expenses
$217,584
Assets
$549,287
Liabilities
$217,584

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

Leadership & pay

13 people listed

Executive titles in this filing

  • CHAD JACOBSON (PRESIDENT)
  • CLARK NELSON (VICE PRESIDENT)

Highest reported compensation

  • CHAD JACOBSON (PRESIDENT): $1,040 total reported compensation
  • RICHARD WALLER (TREASUER): $820 total reported compensation
  • CLARK NELSON (VICE PRESIDENT): $440 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Hold County Fair Annually; Rent Rooms to Public Organizations

What it reported doing in 2024

Rental of office space Repair from tornado added to expense.

Operating model

Revenue model
Grant-funded. 87% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 82% 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. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 65
  • Accountability: 63
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 92.3%; rating input score 92; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 86.8%; rating input score 87; 50th percentile among comparable filings
  • 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 9 controls in place; rating input score 11
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Missing
    • Other executive compensation review process: Missing
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -20.1%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 2.52; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.4; rating input score 13; 13th percentile among comparable filings
  • Officer compensation ratio: 2.8%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 53.5% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 11.1% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 0.7% per year; rating input score 100; 27th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 13 of 13 board members independent · 1 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $212K in reported program spending
  • Leadership: top reported pay $1K · 13 people listed
  • Consistency: 23 of 24 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes foreign activity and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Sustainability: Operating margin scored 14/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 13/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.