Iowa State Fair Foundation
- Assets
- $11.0m
- Revenue
- $8.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Des Moines, IA
- Founding
- 06/1992
- Data as of
- 10/2020
- EIN
- 42-1376689
Organization Overview
Iowa State Fair Foundation is located in Des Moines, IA. The organization was established in 1992. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iowa State Fair Foundation 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 10/2020, Iowa State Fair Foundation generated $8.4m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $12.9m during the year ending 10/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
RAISE FUNDS FOR RENOVATION AND PRESERVATION OF THE HISTORIC IOWA STATE FAIRGROUNDS BY SOLICITING AND ACCEPTING GIFTS, DONATIONS, BEQUESTS AND GRANTS TO HELP FINANCE INFRASTRUCTURE PROJECTS TO GUARANTEE THE FAIR CONTINUES TO BE A SALUTE TO THE STATE'S BEST IN AG, INDUSTRY, ENTERTAINMENT AND ACHIEVEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
4-H BUILDING RENOVATION: THE 4-H BUILDING WAS RENOVATED FROM TOP TO BOTTOM WITH NEW LIGHTING, FLOORS AND UPDATED RESTROOMS. A PORTION OF THE SOUTH EXTERIOR WALL WAS REMOVED, CREATING SPACE FOR A NEW KITCHEN FACILITY, STORAGE AREA AND LOADING BAYS. AN EXPANSION OF THE WEST SIDE OF THE BUILDING ALSO ADDED CLASSROOM SPACE.
VENDOR BUILDING: ALSO KNOWN AS THE BARKSDALE COOKIE BUILDING. COOKIES ARE AN ICONIC FOOD AT THE IOWA STATE FAIR. A DEDICATED COOKIE PRODUCTION BUILDING WAS CONSTRUCTED TO ALLOW FOR AN EXPANSION OF COOKIE PRODUCTION AND BETTER SERVICING SUPPORT FOR SATELLITE COOKIE STANDS
GIANT SLIDE RELOCATION AND RENOVATION: THE GIANT SLIDE HAS BEEN AN ICONIC PORTION OF THE IOWA STATE FAIR AND WAS MOVED TO A NEW LOCATION TO PROVIDE MORE SPACE AROUND THE SLID TO GIVE THE VIEWERS AND RIDERS THE BEST EXPERIENCE POSSIBLE AND TO AVOID CONGESTION. IN ADDITION TO MOVING THE SLIDE, THE SUPPORT STRUCTURE OF THE SLIDE WAS UPDATED AND THE OLD SLIDE SURFACE WAS REFURBISHED
THE TOP THREE PROGRAM SERVICE EXPENSES WERE ITEMIZED IN PART II PURSUANT TO INSTRUCTIONS. THE REMAINING PROGRAM SERVICE EXPENDITURES CONSISTED OF PROMOTION AND ADVERTISING EXPENSE, SALARIES AND OTHER SMALLER RENOVATIONS AND MAINTENANCE EXPENSES TO THE IOWA STATE FAIRGROUNDS. SEE PART IX FOR ITEMIZATION OF OTHER PROGRAM SERVICE EXPENDITURES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Cownie Executive Director | OfficerTrustee | 40 | $170,137 |
Dave Hoffman President | OfficerTrustee | 1 | $0 |
Darwin Gaudian Treasurer | OfficerTrustee | 1 | $0 |
Tennie Carlson Vice President | OfficerTrustee | 1 | $0 |
Cw Thomas Director | Trustee | 1 | $0 |
Wendy Wintersteen President Of Iowa State University | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $4,943,716 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,235,875 |
| Noncash contributions included in lines 1a–1f | $29,512 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,179,591 |
| Total Program Service Revenue | $0 |
| Investment income | $12,754 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $82,314 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $128,458 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,403,117 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,911,261 |
| 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. | $186,204 |
| Compensation of current officers, directors, key employees. | $93,102 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $271,744 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,809 |
| Fees for services: Accounting | $5,100 |
| Fees for services: Lobbying | $42,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $415,348 |
| Office expenses | $18,978 |
| Information technology | $28,820 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $918 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $12,885,182 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,117,924 |
| Savings and temporary cash investments | $431,630 |
| Pledges and grants receivable | $1,186,875 |
| Accounts receivable, net | $4,126 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $262,127 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,002,682 |
| Accounts payable and accrued expenses | $14,195 |
| Grants payable | $545,727 |
| Deferred revenue | $1,086,875 |
| 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 | $1,646,797 |
| Net assets without donor restrictions | $0 |
| 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 | $9,355,885 |
| Total liabilities and net assets/fund balances | $11,002,682 |
Grants Recieved
Over the last fiscal year, we have identified 8 grants that Iowa State Fair Foundation has recieved totaling $226,024.
| Awarding Organization | Amount |
|---|---|
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $51,966 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $51,966 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION FOR CORVID 19 PERSONAL DESK DIVIDERS PK-6 | $50,000 |
Pella Rolscreen Foundation Pella, IA PURPOSE: GENERAL OPERATIONS | $48,500 |
Iowa Corn Growers Association Johnston, IA PURPOSE: FARM TO FAIR MEAL SPONSORSHIP | $11,000 |
Community Fdn Of Greater Des Moines Des Moines, IA PURPOSE: GRANT DISTRIBUTION | $10,000 |
Endowment Analysis
| Beg. Balance | $915,729 |
| Earnings | $55,030 |
| Admin Expense | $5,696 |
| Net Contributions | $270,773 |
| Ending Balance | $1,235,836 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa West Foundation Council Bluffs, IA | $531,828,155 | $56,969,163 |
Iowa State Fair Foundation Des Moines, IA | $11,002,682 | $8,403,117 |
American Royal Association Kansas City, MO | $28,283,023 | $7,000,256 |
Lancaster County Agricultural Society Inc Lincoln, NE | $20,865,052 | $2,982,282 |
Fair And Exposition Society Of Jones County Inc Monticello, IA | $5,659,527 | $5,307,608 |
Minnesota Fair Plan Bloomington, MN | $3,079,043 | $3,023,700 |
Sioux Empire Fair Association Sioux Falls, SD | $1,938,315 | $2,671,698 |
Kane County Fair St Charles, IL | $21,061,651 | $1,916,331 |
Minnesota Propane Association Zimmerman, MN | $1,583,838 | $1,664,231 |
Sheboygan County Fair Association Plymouth, WI | $2,297,030 | $1,962,294 |
Kenosha County Fair Association Inc Wilmot, WI | $2,247,686 | $1,814,776 |
German Fest Milwaukee Inc Menomonee Falls, WI | $1,157,824 | $1,461,133 |