RICE COUNTY AGRICULTURE SOCIETY INC

EIN: 411290116 501(c)(3)

FARIBAULT, MN

Total Revenue
$362,512
Total Expenses
$391,703
Total Assets
$318,724
Net Assets
$279,410
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1948
Legal Domicile
MN
Principal Officer
ERIK MCKAY
Phone
5073346757
Tax Period
2024-10-01 to 2025-09-30

RICE COUNTY AGRICULTURE SOCIETY INC, founded in 1948, is a small nonprofit that reported $363K in total revenue in fiscal year 2024. Revenue decreased 11% compared to the prior year.

Mission

TO PLAN, ORGANIZE, OPERATE AND PROMOTE THE RICE COUNTY FAIR ON AN ANNUAL BASIS, PROVIDING 4H CLUBS WITH AN OUTLET TO EXHIBIT AND BE JUDGED ON THEIR PROJECTS WHILE ALSO PROMOTING THE COUNTY TO THE SURROUNDING COMMUNITIES.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $31,156
Program Service Revenue $303,820
Investment Income $431
Other Revenue $27,105
TOTAL REVENUE $362,512

Expense Breakdown

Grants Paid $0
Salaries & Benefits $52,193
Fundraising Expenses $0
Program Expenses $335,258
Other Expenses $339,510
TOTAL EXPENSES $391,703

Year-over-Year Comparison

2024 2023 Change
Revenue $362,512 $406,216 -0.1%
Expenses $391,703 $407,605 0.0%
Net Income $-29,191 $-1,389 +20.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
28
Independent Members
25
Employees
9
Volunteers
111

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
5
$0
Total Directors
28
$16,776
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ERIK MCKAY PRESIDENT 2.00
Officer Director
$0 $0 $0
KAYLA BALLSTADT VICE PRESIDE 2.00
Officer Director
$0 $0 $0
GRETCHEN HOHRMAN 2ND VICE PRE 2.00
Officer Director
$0 $0 $0
JAMIE WHITE-TITUS SECRETARY 2.00
Officer Director
$0 $0 $0
PEGGY SCHAAK TREASURER 4.00
Officer Director
$0 $0 $0
COLLEEN ALMEN BOARD MEMBER 2.00
Director
$0 $0 $0
KATHIE KREFT BOARD MEMBER 2.00
Director
$0 $0 $0
CLIFF KREFT BOARD MEMBER 2.00
Director
$0 $0 $0
DUWAYNE HOHRMAN BOARD MEMBER 2.00
Director
$0 $0 $0
JOE PESTA BOARD MEMBER 2.00
Director
$0 $0 $0
JIM PURFEERST BOARD MEMBER 2.00
Director
$0 $0 $0
DENNIS BLACKMER BOARD MEMBER 2.00
Director
$0 $0 $0
KYLE FLOM BOARD MEMBER 2.00
Director
$0 $0 $0
JOE KADERLIK BOARD MEMBER 2.00
Director
$0 $0 $0
PAM REZAC BOARD MEMBER 2.00
Director
$0 $0 $0
JAKE GILLEN BOARD MEMBER 2.00
Director
$0 $0 $0
PJ DUCHENE BOARD MEMBER 2.00
Director
$0 $0 $0
EMILY LIEBL BOARD MEMBER 2.00
Director
$0 $0 $0
JEFF HOFFMAN BOARD MEMBER 2.00
Director
$0 $0 $0
GERRY HOISINGTON BOARD MEMBER 2.00
Director
$0 $0 $0
TIM HOOVER BOARD MEMBER 2.00
Director
$0 $0 $0
THERESA MEYER BOARD MEMBER 2.00
Director
$0 $0 $0
RON PARKER BOARD MEMBER 2.00
Director
$0 $0 $0
ASHLEY SNEDIKER BOARD MEMBER 2.00
Director
$0 $0 $0
TAYLOR STEPKA BOARD MEMBER 2.00
Director
$0 $0 $0
SARAH WELANDER BOARD MEMBER 2.00
Director
$0 $0 $0
KELLY CHADWICK BOARD MEMBER 2.00
Director
$0 $0 $0
PETER VAN SLUIS BOARD MEMBER 2.00
Director
$16,776 $0 $16,776
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
2025 $362,512 $391,703 $318,724 $-29,191
2024 $406,216 $407,605 $317,980 $-1,389
2023 $380,197 $388,550 $324,700 $-8,353
2022 $373,425 $330,057 $336,641 $43,368
2021 $347,106 $302,477 $288,881 $44,629
2020 $75,080 $75,245 $235,603 $-165
2019 $302,600 $295,556 $250,589 $7,044
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