STEARNS 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

2002

Legal Domicile

Principal Officer

JACULIN A SPODEN-BOLZ

Phone

3202485511

Tax Period

2023-11-01 to 2024-10-31

STEARNS COUNTY FAIR ASSOCIATION, founded in 2002, is a small nonprofit in the Recreation & Sports sector that reported $271K in total revenue in fiscal year 2023. Revenue fell 30% from the prior year — a significant decline worth monitoring.

Mission

EDUCATE PUBLIC ON AGRICULTURAL MATTERS.

Program Service Accomplishments

Program 1

Expenses: $265,824

THE PURPOSE OF THE STEARNS COUNTY FAIR IS TO PROMOTE AGRICULTURE, AGRICULTURAL EDUCATION, AND AGRICULTURAL SCIENCE. THE FAIR IS A PLACE THAT GIVES ALL MEMBERS OF STEARNS COUNTY A CHANCE TO SHARE...

THE PURPOSE OF THE STEARNS COUNTY FAIR IS TO PROMOTE AGRICULTURE, AGRICULTURAL EDUCATION, AND AGRICULTURAL SCIENCE. THE FAIR IS A PLACE THAT GIVES ALL MEMBERS OF STEARNS COUNTY A CHANCE TO SHARE THEIR UNIQUE HABITS AND TALENTS AND PROVIDE AN EXPRESSION OF OUR COUNTYS PERSONALITY. THE STEARNS COUNTY FAIR IS ALSO A NOSTALGIC EVENT, BRINING BACK MEMORIES FOR THE PAST AND INTRODUCING THE YOUNGER GENERATION TO A GREAT TRADITION. FAMILIES COME TO VIEW THE VERY BEST IN AGRICULTURAL PRODUCTS AND LIVESTOCK, AND TO EXPERIENCE PROGRAMS AND EVENTS THAT THEY WILL NOT EXPERIENCE ANYWHERE EXCEPT AT THE FAIR. THE STEARNS COUNTY FAIR ALSO GIVES COMMUNITY MEMBERS AND AGRICULTURAL GROUPS, LIKE 4-H, THE CHANCE TO ENTER THEIR LIVESTOCK AND OTHER FARM AND DOMESTIC PRODUCTS TEACHING A NEW GENERATION ABOUT THE VALUES OF FARMING AND QUALITY AGRICULTURAL WORK. PREMIUMS ARE AWARDED IN A VARIETY OF AGRICULTURAL AND DOMESTIC CATEGORIES.

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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 $45,924

Program Service Revenue $201,948

Investment Income $104

Other Revenue $23,508

TOTAL REVENUE $271,484

Expense Breakdown

Grants Paid $0

Salaries & Benefits $15,421

Fundraising Expenses $0

Program Expenses $265,824

Other Expenses $250,403

TOTAL EXPENSES $265,824

Year-over-Year Comparison

	2023	2022	Change
Revenue	$271,484	$386,770	-0.3%
Expenses	$265,824	$279,274	0.0%
Net Income	$5,660	$107,496	-0.9%

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
VERN FRERICKS	PRESIDENT	002.00	Officer Director	$0	$0	$0
SHANNON OLSON	VICE PRESIDENT	002.00	Officer Director	$0	$0	$0
JACULIN SPODEN-BOLZ	SECRETARY	002.00	Officer Director	$0	$0	$0
JODIE DESCHENE	TREASURER	003.00	Officer 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	$271,484	$265,824	$346,309	$5,660
2023	$386,770	$279,274	$357,049	$107,496
2022	$346,723	$266,203	$229,649	$80,520
2021	$251,649	$229,290	$173,158	$22,359
2020	$75,819	$41,704	$162,003	$34,115