HOUGHTON COUNTY FAIR ASSOCIATION

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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

1951

Legal Domicile

Principal Officer

DEBBIE WINQUIST

Phone

9064826200

Tax Period

2022-11-01 to 2023-10-31

HOUGHTON COUNTY FAIR ASSOCIATION, founded in 1951, is a small nonprofit in the Recreation & Sports sector that reported $441K in total revenue in fiscal year 2022. Revenue grew 20% year-over-year, indicating healthy expansion. The organization ran a surplus of $111K, a strong 25% operating margin.

Mission

TO PROVIDE AN ANNUAL COUNTY FAIR TO EDUCATE THE PUBLIC ON THE IMPORTANCE, VALUES, AND ENVIRONMENTAL IMPACT OF FARMING AND AGRICULTURE.

Program Service Accomplishments

Program 1

Expenses: $288,527 Revenue: $339,709

ORGANIZED, PROMOTED, AND CONDUCTED THE HOUGHTON COUNTY FAIR TO EDUCATE THE PUBLIC ON THE IMPORTANCE OF FARMING AND AGRICULTURE.

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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 (2022)

Revenue Breakdown

Contributions & Grants $71,739

Program Service Revenue $339,709

Investment Income $2,045

Other Revenue $27,449

TOTAL REVENUE $440,942

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $288,527

Other Expenses $330,132

TOTAL EXPENSES $330,132

Year-over-Year Comparison

	2022	2021	Change
Revenue	$440,942	$368,212	+0.2%
Expenses	$330,132	$304,595	+0.1%
Net Income	$110,810	$63,617	+0.7%

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

N/A

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
DEBBIE WINQUIST	PRESIDENT	2.50	Officer Director	$0	$0	$0
KRISTOPHER TAPANI	VICE PRESIDE	2.50	Officer Director	$0	$0	$0
BETHANY HILLSTROM	SECRETARY	2.50	Officer Director	$0	$0	$0
ETHAN JOHNSON	TREASURER	2.50	Officer Director	$0	$0	$0
KATHLEEN CASPARY	DIRECTOR	2.50	Director	$0	$0	$0
RICHARD FREEMAN	DIRECTOR	2.50	Director	$0	$0	$0
STEVEN PALOSAARI	DIRECTOR	2.50	Director	$0	$0	$0
GLENN ANDERSON	DIRECTOR	2.50	Director	$0	$0	$0
TAANA BLOM	DIRECTOR	2.50	Director	$0	$0	$0
KYLE MAKI	DIRECTOR	2.50	Director	$0	$0	$0
SARAH MAKI	DIRECTOR	2.50	Director	$0	$0	$0
JACK DUNSTAN	DIRECTOR	2.50	Director	$0	$0	$0
JENNY DICE	DIRECTOR	2.50	Director	$0	$0	$0
ROBERT TUOMI	DIRECTOR	2.50	Director	$0	$0	$0
CASEY STROM	DIRECTOR	2.50	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	No data	No data	No data	No data
2023	$440,942	$330,132	$606,181	$110,810
2022	$368,212	$304,595	$499,477	$63,617
2021	$356,624	$312,656	$446,537	$43,968
2020	$115,096	$132,390	$327,569	$-17,294