MIDLAND COUNTY FAIR INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2010

Legal Domicile

Phone

4329671807

Tax Period

2023-01-01 to 2023-12-31

MIDLAND COUNTY FAIR INC, founded in 2010, is a small nonprofit in the Recreation & Sports sector that reported $447K in total revenue in fiscal year 2023. Revenue surged 49% from the prior year, signaling strong growth momentum. Expenses of $506K exceeded revenue, resulting in a 13% operating deficit.

Mission

TO PROMOTE AND FOSTER THE DIFFERENT CULTURES OF MIDLAND AND TO PROVIDE FOR THE MAINTENANCE OF MIDLAND COUNTY HORSESHOE ARENA.

Program Service Accomplishments

Program 1

Expenses: $505,511

HOLD ANNUAL COUNTY FAIR TO PROMOTE THE CULTURE OF THE AREA. APPROXIMATELY 6,000 PEOPLE ATTENDED TO VIEW EXHIBITS AND LIVESTOCK. ANY NET REVENUE FORM THE FAIR IS SPLIT WITH THE COUNTY OF MIDLAND NET...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $162,171

Program Service Revenue $284,683

Investment Income $0

Other Revenue $0

TOTAL REVENUE $446,854

Expense Breakdown

Grants Paid $20,500

Salaries & Benefits $55,638

Fundraising Expenses $0

Program Expenses $505,511

Other Expenses $429,373

TOTAL EXPENSES $505,511

Year-over-Year Comparison

	2023	2022	Change
Revenue	$446,854	$299,736	+0.5%
Expenses	$505,511	$338,762	+0.5%
Net Income	$-58,657	$-39,026	+0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

100

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Dan Corrales	Director	1.00	Director	$0	$0	$0
Alfredo Grimaldo	Director	1.00	Director	$0	$0	$0
Kristi Cowan	Director	1.00	Director	$0	$0	$0
Lauren Disney	Director	1.00	Director	$0	$0	$0
Kelly Stout	Director	1.00	Director	$0	$0	$0
Paula Morrison	President	1.00	Officer	$0	$0	$0
Angela Joiner	Secretary	1.00	Officer	$0	$0	$0
Zan Matthies	Treasurer	1.00	Officer	$0	$0	$0
Lourcey Sams	Vice President	1.00	Officer	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$446,854	$505,511	$23,884	$-58,657
2022	$299,736	$338,762	$74,575	$-39,026
2021	$326,302	$254,524	$115,312	$71,778