LAKE COUNTY FAIR ASSOCIATION (EIN 366089769) - Form 990 Financial Analysis & Trantor Score

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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

1928

Legal Domicile

Principal Officer

ADAM AKERS

Phone

8476807200

Tax Period

2023-11-01 to 2024-10-31

LAKE COUNTY FAIR ASSOCIATION, founded in 1928, is a community nonprofit in the Recreation & Sports sector that reported $2.8M in total revenue in fiscal year 2023. Expenses of $3.2M exceeded revenue, resulting in a 12% operating deficit.

Mission

THE LAKE COUNTY FAIR ASSOCIATION SHALL BE FOR THE PRESERVATION OF THE PAST, PROMOTION OF THE FUTURE, AND EDUCATION ON THE FUTURE OF AGRICULTURE AND HORTICULTURE, MECHANICAL ARTS, AND THE RURAL AND DOMESTIC ECONOMIES OF LAKE COUNTY'S COMMUNITY.

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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 $0

Program Service Revenue $1,797,287

Investment Income $18,075

Other Revenue $1,000,778

TOTAL REVENUE $2,816,140

Expense Breakdown

Grants Paid $0

Salaries & Benefits $464,070

Fundraising Expenses $64,427

Program Expenses $2,886,034

Other Expenses $2,703,095

TOTAL EXPENSES $3,167,165

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,816,140	$2,611,549	+0.1%
Expenses	$3,167,165	$3,081,601	+0.0%
Net Income	$-351,025	$-470,052	-0.3%

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

N/A

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
ADAM AKERS	PRESIDENT	5.00	Officer Director	$0	$0	$0
RICH GELDEN	VICE-PRESIDENT	2.00	Director	$0	$0	$0
MITCH BRYA	DIRECTOR	1.00	Director	$0	$0	$0
KEVIN QUINN	DIRECTOR	2.00	Director	$0	$0	$0
BUNNY OTREMBIAK	SECRETARY	1.00	Director	$0	$0	$0
AMANDA KNOPP	DIRECTOR	2.00	Director	$0	$0	$0
TRACEY MCMILLON	DIRECTOR	2.00	Director	$0	$0	$0
KELLI KEPLER-YARC	TREASURER	2.00	Officer Director	$0	$0	$0
JOHN WEBER	DIRECTOR	1.00	Director	$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	$2,816,140	$3,167,165	$26,663,746	$-351,025
2023	$2,611,549	$3,081,601	$27,217,326	$-470,052
2022	$2,685,981	$2,493,983	$27,513,406	$191,998
2022	$2,653,317	$2,627,322	$27,759,507	$25,995
2021	$1,095,277	$1,464,582	$27,796,345	$-369,305
2020	$814,753	$1,396,300	$27,959,128	$-581,547
2019	$2,092,977	$2,456,908	$28,384,945	$-363,931
2018	$1,965,903	$2,289,386	$28,822,278	$-323,483

LAKE COUNTY FAIR ASSOCIATION