Alaska State Fair Incorporated
- Assets
- $12.6m
- Revenue
- $12.1m
- Investments
- $0.0
- Employees
- 275
- Location
- Palmer, AK
- Founding
- 07/1995
- Data as of
- 12/2021
- EIN
- 92-0027358
Organization Overview
Alaska State Fair Incorporated is located in Palmer, AK. The organization was established in 1995. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Alaska State Fair Incorporated employed 275 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alaska State Fair Incorporated 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, Alaska State Fair Incorporated generated $12.1m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 12.5% each year . All expenses for the organization totaled $7.4m during the year ending 12/2021. While expenses have increased by 1.0% per year over the past 4 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE THE FACILITIES AND ACTIVITIES FOR AN AGRICULTURAL AND EDUCATIONAL FAIR.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE THE FACILITIES AND ACTIVITIES FOR AN AGRICULTURAL AND EDUCATIONAL FAIR IN THE STATE OF ALASKA FOR 12 DAYS EACH YEAR (2022 ATTENDANCE: 340,144)
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jerome Hertel Executive Director | Officer | 40 | $115,690 |
Kristy Bernier President | OfficerTrustee | 4 | $1,870 |
Jason Ortiz Vice President | OfficerTrustee | 4 | $1,430 |
Sheron Patrick Secretary | OfficerTrustee | 4 | $1,430 |
Aryne Randall Treasurer | OfficerTrustee | 4 | $1,150 |
Jon Marc Petersen Director | Trustee | 3 | $690 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Starplex Corporation Security | 12/30/22 | $556,363 |
Ld Road Inc Entertainment | 12/30/22 | $350,000 |
Co Jones Inc Entertainment | 12/30/22 | $200,000 |
Vince Tickler Inc Entertainment | 12/30/22 | $200,000 |
Creative Lighting & Sound Audio Production Services | 12/30/22 | $185,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,263,165 |
| Investment income | $54 |
| 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 | $45,366 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,080,076 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $6,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $127,268 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,288,325 |
| Pension plan accruals and contributions | $36,639 |
| Other employee benefits | $0 |
| Payroll taxes | $127,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,260 |
| Fees for services: Accounting | $8,825 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $47,684 |
| Advertising and promotion | $264,177 |
| Office expenses | $40,947 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,656 |
| Travel | $45,460 |
| 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 | $431,822 |
| Insurance | $440,565 |
| All other expenses | $0 |
| Total functional expenses | $7,359,442 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,038,454 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $72,472 |
| 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 | $102,552 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $184 |
| Total assets | $12,629,494 |
| Accounts payable and accrued expenses | $129,123 |
| Grants payable | $0 |
| Deferred revenue | $153,187 |
| 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 | $282,310 |
| Net assets without donor restrictions | $12,317,932 |
| Net assets with donor restrictions | $29,252 |
| 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 | $12,347,184 |