Red River Valley Fair Foundation

Nonprofit profile at a glance

EIN
460799137
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
West Fargo, ND, USA
Phone
7012822200
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Single Organization Support

Official website

Reported finances

Revenue
$112,746
Expenses
$107,218
Assets
$58,400
Liabilities
$3,631

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

Leadership & pay

10 people listed

Executive titles in this filing

  • DEAN KROGEN (PRESIDENT - MEMBER (5/25))
  • BOB MILLER (VICE PRESIDENT)
  • DONN GROTH (MEMBER - PRESIDENT (5/25))

People named in this filing

  • DEAN KROGEN (PRESIDENT - MEMBER (5/25))
  • BOB MILLER (VICE PRESIDENT)
  • CHRIS HEISE (TREASURER (ENDED 12/24))

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

The mission of the red river valley fair foundation was founded in 2012. The foundation was created to enhance the red river valley fair association through charitable donations. The foundation serves as direct support to benefit the red river valley fair association. The red river valley fair foundation was organized to establish a growing base of long-term financial support for the red river valley fair association through the receipt and investment of gifts and donations made on behalf of the association. The foundation portfolio is intended to be a perpetual source of funding for association. To meet future ongoing charitable needs of association, continued steady growth of the foundation portfolio through gifts, earnings and asset appreciation is essential. Management decisions relating to the administration of association funds are made for the exclusive long-term benefit of association, with due consideration for the income of the foundation.

What it reported doing in 2024

Charity, educational and scientific purposes, including, for such purposes as supporting, and making the distributions to the red river valley fair association and its programs that qualify as an exempt organization under section 501(c)3 of the internal revenue code, or corresponding section of any future federal tax codes. Additionally, donations of $18,450 was made to the livestock enrichment program, enabling participants to raise and showcase animals at the fair. This year the foundation was able to supply substantial support to the red river valley fair.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 96% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Program spending has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 94
  • Accountability: 88
  • Sustainability: 43
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.9%; rating input score 94
  • Program expense ratio: 98.7%; 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: 100%; rating input score 100; 80th percentile among comparable filings
  • 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 4.9%; rating input score 50; 50th percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 30; 30th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -95.4% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 29.5% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 93.9% of revenue deployed · 98.7% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $106K in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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 — Growth: Program expense growth scored 0/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Operating margin scored 50/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 30/100.