Wapello County Agricultural Fair Association

Nonprofit profile at a glance

EIN
426018990
IRS 990 coverage
2012–2015
Forms available
Form 990 2015
Location
Eldon, IA, USA
Phone
6416527608
Rating
85
Verdict
STRONG
Rating confidence
Moderate
Sector
Fairs

Official website

Reported finances

Revenue
$255,248
Expenses
$277,789
Assets
$208,099
Liabilities
$3,270

Source: IRS Form 990. Selected filing: tax year 2015. Amounts in USD.

Leadership & pay

28 people listed

Executive titles in this filing

  • ROBERT ORMAN (PRESIDENT)

People named in this filing

  • RON POTTS (BOARD MEMBER)
  • JIM SLOAN (BOARD MEMBER)
  • JERRY POTTS (BOARD MEMBER)

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 2015. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The wapello county fair provides an area for children to show their livestock. They also provide entertainment for people in wapello county and surrounding areas.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 36
  • 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • 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: -8.8%; rating input score 23; 23rd percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 36; 36th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 73; 73rd percentile among comparable filings

Growth

  • Program expense growth: 20.7% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 18.2% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: 2.4% per year; rating input score 100; 49th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 28 of 28 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $278K in reported program spending
  • Leadership: top reported pay $0 · 28 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 4 filing years from 2012 to 2015
  • 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.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 23/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 36/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.