Hernando County Fair Association Inc
- Assets
- $510.6k
- Revenue
- $229.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Brooksville, FL
- Founding
- 06/1988
- Data as of
- 05/2021
- EIN
- 59-2106878
Organization Overview
Hernando County Fair Association Inc is located in Brooksville, FL. The organization was established in 1988. 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. Hernando County Fair Association 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 05/2021, Hernando County Fair Association Inc generated $229.7k 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 (4.2%) each year. All expenses for the organization totaled $197.6k during the year ending 05/2021. As we would expect to see with falling revenues, expenses have declined by (5.4%) 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
PROVIDE TO THE COMMUNITY ANNUAL COUNTY FAIR, SPECIAL EVENTS, FLEA MARKET, AUDITORIUM GROUNDS RENTAL, AND MANAGEMENT OF HERNANDO COUNTY FAIRGROUNDS
Describe the Organization's Program Activity:
Part 3 - Line 4a
HERNANDO COUNTY FAIR-THIS IS THE MAIN PURPOSE OF THIS ASSOC
RENTAL OF BUILDINGS GROUNDS TO THE COMMUNITY
SPECIAL EVENTS FOR COMMUNITY BENEFIT FLEA MARKET FOR COMMUNITY BENEFIT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tammy Fincher Director | Trustee | 5 | $0 |
Skip Demontozon Director | Trustee | 5 | $0 |
Paul Wernicke Director | Trustee | 5 | $0 |
Sandra Nicholson Past President | Trustee | 5 | $0 |
Bruce Cameron Director | Trustee | 5 | $0 |
Lee Stevens Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $810 |
| Investment income | $607 |
| 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 | $229,733 |
| Statement of Expenses | |
|---|---|
| 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 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,133 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $12,467 |
| Office expenses | $1,224 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $88,020 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $108 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $19,340 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $197,564 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $315,631 |
| 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 | $30,500 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $510,599 |
| Accounts payable and accrued expenses | $4,381 |
| Grants payable | $0 |
| Deferred revenue | $21,701 |
| 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 | $25,000 |
| Unsecured mortgages and notes payable | $213,915 |
| Other liabilities | $0 |
| Total liabilities | $264,997 |
| 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 |
| Total liabilities and net assets/fund balances | $245,602 |