State Fair of Texas

What it reported doing in 2024

Since its inception in 1886, the State Fair of Texas has celebrated all things Texan by promoting agriculture, education, and community involvement through quality entertainment in a family-friendly environment. The 2024 State Fair of Texas welcomed nearly 2.4 million fairgoers through the gates. The State Fair of Texas offers a variety of interactive exhibits focusing on agriculture and livestock - implementing hands-on activities that are both enjoyable and informative. Activities range from feeding furry friends at the petting zoo to learning about different livestock species during daily guided tours through the livestock barns. In addition, each year, thousands of students from around the state work diligently in preparation for the competitive livestock events and leadership contests at the State Fair. The largest of these events, the annual Big Tex Youth Livestock Auction, celebrates the agricultural heritage of our great state, while also providing scholarships and prizes to students all over Texas. The Fair's educational initiatives extend far beyond our 24-day exposition. With education at the very core of our foundation, the State Fair of Texas continues to serve as a showcase for Texas history, agriculture, and the community that connects it all. The Fair expands its educational initiatives to the classroom with an innovative curriculum, created in partnership with Big Thought. The online curriculum combines the unique culture of the Fair with Texas history and agriculture, incorporating it into a TEKS-aligned program that focuses on STEM subjects (science, technology, engineering, and math) for grades 4 through 12. With a focus on educating visitors about Texas history and agriculture, the Fair offers a unique experience that is both informative and entertaining. As a long-standing Dallas institution, the State Fair of Texas has a distinctive appreciation for the local support that makes such a big event possible every year. With the ultimate goal of having a positive community impact, the Fair aims to give back through our partnerships with local organizations and initiatives. The Fair continues to expand outreach programs while placing a special priority on promoting community involvement at the local level. Our impact in the community focuses on three areas that complement our mission - social capital, human capital, and financial capital. In addition, the Fair seeks to assist food insecurity in the South Dallas/Fair Park area through its Big Tex Urban Farms initiative. Each year, the State Fair of Texas brings guests from all walks of life together for 24 days in celebration of the Lone Star State's evolving culture. Beginning in 1886 as a local gathering place for people to share ideas and learn from new cultures, the annual state fair and exposition in Fair Park became a breeding ground for Texas education and innovation. 2024's theme encompassed one of the many great things the Fair is known for - 24 Day of Fun. The 2024 State Fair of Texas, themed "24 Days of Fun" highlighted a longstanding tradition in the hearts of many Texans - the State Fair of Texas. Known for its larger-than-life exhibition, offering a wide variety of shows, exhibits, shopping, rides, games, and especially food, what better year than 2024 to celebrate all these things with our "24 Days of Fun" commemorative theme art? For 138 years, we have celebrated all things Texan here at the Most Texan Place on Earth, and last year, we paid homage with 24 ways the Fair is fun for everyone. The 2024 State Fair of Texas made a difference in more ways that we can count. Below are just a few of the noteworthy successes from this year's exposition: - The State Fair welcomed nearly 2.4 million fairgoers through the gates; - Approximately $91.4 million was generated in gross coupon sales for food, beverage, and rides, with a majority of funds going to vendors; - More than 69,000 first responders, members of the military, and their families used the spe

Financial Efficiency

• Mission deployment rate: 74.8%; rating input score 75
• Program expense ratio: 84.3%; rating input score 84
• Fundraising efficiency: $1.34 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.4%; rating input score 94; 31st percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Missing
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 97.5%; rating input score 98; 33rd 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; 77th 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: 8.5%; rating input score 68; 68th percentile among comparable filings
• Total-asset coverage ratio: 2.07; rating input score 64; 64th percentile among comparable filings
• Liabilities to assets ratio: 0.28; rating input score 58; 58th percentile among comparable filings
• Officer compensation ratio: 6.6%; rating input score 9; 9th percentile among comparable filings

Growth

• Program expense growth: 4.6% per year; rating input score 100; 36th percentile among comparable filings
• Revenue growth: 4.4% per year; rating input score 100; 36th percentile among comparable filings
• Asset growth: 8.1% per year; rating input score 100; 59th percentile among comparable filings