South Florida Fair & Palm Beach County Expositions Inc

What it reported doing in 2024

The primary purpose of the south Florida fair and palm beach county expositions, inc. Is to produce the annual south Florida fair. The fair is a state chartered district agricultural fair showcasing the south Florida area. The fair accepts entries into its agricultural and educational competitions from the five counties that it is chartered to serve: palm beach, martin, broward, okeechobee and hendry. With the evolving nature of the agricultural industry in Florida, we also encourage youth in 18 Florida counties to become involved in our competitive livestock and agriculture programs. Through this outreach, we hope to promote the growth of such programs throughout Florida. Highlights are a livestock display encompassing over eight acres, a youth horticultural display, hundreds of youth 4h and ffa exhibits and several programs which concentrate on the youth of our area through cooperation with the local school district.throughout the remainder of the calendar year, the fairgrounds offers its facilities to various groups and organizations whose emphasis is the betterment of the community, including the school district science fair, the school district's college and career nights, palm beach county sheriff's department, Florida nursery grower's association, and the department of agriculture to name a few. The fair also provides several educational opportunities to local elementary school students. These include school tours highlighting the history of early Florida in the fair's yesteryear village, school tours of the fair's extensive agricultural exhibits during the annual south Florida fair, programs in embriology and a program that encourages students to read books about agriculture or with themes that center on agriculture. Finally, the fair assists local youth through its scholarship fund, which since the early 1980's, has supplied over $700,000 in grants to worthwhile students. Grants paid for the current year totaled $94,000.

Financial Efficiency

• Mission deployment rate: 63.5%; rating input score 63
• Program expense ratio: 78.6%; rating input score 79
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Pass
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd 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; 66th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 16.5%; rating input score 78; 78th percentile among comparable filings
• Total-asset coverage ratio: 2.22; rating input score 65; 65th percentile among comparable filings
• Liabilities to assets ratio: 0.13; rating input score 69; 69th percentile among comparable filings
• Officer compensation ratio: 5.8%; rating input score 44; 44th percentile among comparable filings

Growth

• Program expense growth: 2.5% per year; rating input score 100; 23rd percentile among comparable filings
• Revenue growth: 5% per year; rating input score 100; 44th percentile among comparable filings
• Asset growth: 2.7% per year; rating input score 100; 21st percentile among comparable filings