State Fair Of Virginia Inc
- Assets
- $1.2m
- Revenue
- $487.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 02/2014
- Data as of
- 12/2023
- EIN
- 45-5632992
Organization Overview
State Fair Of Virginia Inc is located in Richmond, VA. The organization was established in 2014. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. State Fair Of Virginia Inc 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 12/2023, State Fair Of Virginia Inc generated $487.3k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 10.3% each year . All expenses for the organization totaled $396.6k during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INCREASE AGRICULTURAL AND NATURAL RESOURCE AWARENESS, INTEREST AND EDUCATION IN VIRGINIA THROUGH PROGRAMS, EXHIBITIONS AND COMPETITIONS INTEGRAL TO THE OPERATION OF THE STATE FAIR OF VIRGINIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY VENUE OF SUCCESSFUL EXECUTION OF THE MISSION IS THE STATE FAIR OF VIRGINIA. THE 2023 STATE FAIR OF VIRGINIA ATTENDANCE OF APPROXIMATED 210,000.IN 2023, THE STATE FAIR OF VIRGINIA SCHOLARSHIP PROGRAM REWARDED 241 YOUNG PEOPLE FOR THEIR HARD WORK AND ACHIEVEMENT IN THIRTY-NINE SANCTIONED STATE FAIR COMPETITION AREAS THROUGH LIVESTOCK COMPETITIONS, 4-H & FFA COMPETITIONS, SKILLS USA, AND OTHER COMPETITIONS.
SALE OF CHAMPIONS/YOUTH LIVESTOCK AWARDED SCHOLARSHIPSANY YOUTH THAT PARTICIPATE IN MARKET SHOWS AT THE CURRENT YEAR FAIR ARE ELIGIBLE. THESE INCLUDE: YOUTH MARKET GOAT, YOUTH MARKET BEEF, YOUTH MARKET HOG AND YOUTH MARKET LAMB SHOWS. APPLICATION CATEGORIES ARE BROKEN OUT BY AGE JUNIORS (9-12), INTERMEDIATE (13-15) AND SENIORS (16 AND OLDER) WITH FOUR SCHOLARSHIPS BEING AWARDED TO EACH CATEGORY. JUDGING WAS BASED ON APPLICANTS' STATE FAIR PARTICIPATION, AS WELL AS ON LEADERSHIP AND COMMUNITY SERVICE ACTIVITIES AND AN ESSAY. FUNDS ALLOCATED FOR THE SCHOLARSHIPS REPRESENT A PORTION OF PROCEEDS FROM THE CURRENT YEARS SALE OF CHAMPIONS BENEFIT AUCTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
M L Everett President | OfficerTrustee | 0.35 | $0 |
Marlene Pierson-Joliffe Vice President, Exec Direc | OfficerTrustee | 0.35 | $0 |
Matt Faulconer Director | Trustee | 0.35 | $0 |
Lynwood D Broaddus Director | Trustee | 0.35 | $0 |
Dixie Watts-Dalton Director | Trustee | 0.35 | $0 |
Katie Frazier Director | Trustee | 0.35 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $28,772 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $189,822 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $243,594 |
| Total Program Service Revenue | $192,905 |
| Investment income | $37,732 |
| Tax Exempt Bond Proceeds | $18,460 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$5,350 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $487,341 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $30,180 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $86 |
| 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 | $107,270 |
| Advertising and promotion | $5,989 |
| Office expenses | $3,530 |
| Information technology | $2,397 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $868 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $142 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $199 |
| Total functional expenses | $396,622 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,138 |
| Savings and temporary cash investments | $653,635 |
| Pledges and grants receivable | $118,680 |
| 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 | $0 |
| Investments—publicly traded securities | $279,824 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,585 |
| Total assets | $1,224,862 |
| Accounts payable and accrued expenses | $22,626 |
| Grants payable | $522,802 |
| 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 | $26,219 |
| Total liabilities | $571,647 |
| 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 | $653,215 |
| Total liabilities and net assets/fund balances | $1,224,862 |