Tennessee State Fair Association
- Assets
- $162.1k
- Revenue
- $26.0k
- Investments
- $0.0
- Employees
- 2
- Location
- Lebanon, TN
- Founding
- 12/2011
- Data as of
- 12/2021
- EIN
- 27-2969211
Organization Overview
Tennessee State Fair Association is located in Lebanon, TN. The organization was established in 2011. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Tennessee State Fair Association employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tennessee State Fair Association is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Tennessee State Fair Association generated $26.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (42.0%) each year. All expenses for the organization totaled $59.4k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (34.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE EDUCATION OF AGRICULTURE, HORTICULTURE, THE CREATIVE ARTS, PERFORMING ARTS, INDUSTRY, COMMERCE, RECREATION, ECONOMIC DEVELOPMENT, NATURAL RESOURCES AND RELATED AREAS TO THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TENNESSEE STATE FAIR WAS RELOCATED TO LEBANON, TN IN 2021 AND PROGRAM EXPENSES AND REVENUE WERE REPORTED UNDER WILSON COUNTY PROMOTIONS, INC. TAX RETURN. THE NEW BOARD WILL CONTINUE TO USE THE TSFA 501(C)(3) FOR AGRICULTURE, EDUCATION AND TO PROMOTE THE STATE OF TENNESSEE. FINAL EXPENSES RELATED TO CLOSING THE FAIR ACTIVITIES AT THE OLD LOCATION WERE INCURRED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randall Clemons President/ch | OfficerTrustee | 2 | $0 |
Joe Gaines Vice-Chairma | OfficerTrustee | 2 | $0 |
Debra Kenerson Secretary | OfficerTrustee | 2 | $0 |
John Rose Director | OfficerTrustee | 8 | $0 |
Dan Strasser Treasurer | Officer | 2 | $0 |
Boyd Barker Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $26,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $35,567 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,499 |
| Office expenses | $4,129 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $250 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,277 |
| Insurance | $6,929 |
| All other expenses | $0 |
| Total functional expenses | $59,372 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,687 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $11,411 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $162,098 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $162,098 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $162,098 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Tennessee State Fair Association has recieved totaling $7,500.
| Awarding Organization | Amount |
|---|---|
Tennessee Farm Bureau Federation Columbia, TN PURPOSE: SPONSORSHIP OF TENNESSEE STATE FAIR | $7,500 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Royal Association Kansas City, MO | $28,283,023 | $7,000,256 |
Cullasaja Club Inc Highlands, NC | $18,372,890 | $6,912,030 |
National Automatic Merchandising Association Arlington, VA | $9,038,730 | $6,619,737 |
American Peanut Council Inc Alexandria, VA | $2,565,849 | $4,863,109 |
Arkansas Livestock Show Assoc Little Rock, AR | $4,870,203 | $5,931,539 |
Friends Of The Festival Inc Chattanooga, TN | $2,789,360 | $3,355,227 |
Kentucky Derby Festival Inc Louisville, KY | $6,625,289 | $3,844,478 |
Norfolk Festevents Ltd Norfolk, VA | $2,813,598 | $4,090,710 |
National D-Day Memorial Foundation Ltd Bedford, VA | $18,908,429 | $4,372,645 |
Sunbelt Agricultural Exposition Inc Moultrie, GA | $986,541 | $2,489,467 |
Virginia Beach Events Unlimited Inc Virginia Beach, VA | $1,283,401 | $2,894,814 |
National Peanut Festival Assn Inc Dothan, AL | $12,226,185 | $2,754,478 |