THE WESTFAIR 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

1974

Legal Domicile

Principal Officer

ADAM LEBER

Phone

7123229866

Tax Period

2024-10-01 to 2025-09-30

THE WESTFAIR ASSOCIATION, founded in 1974, is a community nonprofit that reported $1.1M in total revenue in fiscal year 2024. Expenses of $1.1M left a modest 4% surplus.

Mission

OPERATION OF COUNTY FAIR GROUNDS SERVING THE RESIDENTS OF WEST POTTAWATTAMIE COUNTY IOWA

Program Service Accomplishments

Program 1

Expenses: $801,139 Revenue: $758,955

THE 2025 SEASON WAS ANOTHER SUCCESSFUL YEAR FOR THE WESTFAIR ASSOCIATION. DURING FAIR WEEK, THERE WERE AN ESTIMATED 20,000 PEOPLE IN ATTENDANCE. THE FAIR BROUGHT IN 855 4H EXHIBITORS, SHOWING 1,530...

Program 2

Expenses: $221,859 Revenue: $158,961

PROVIDE FACILITIES FOR COMMUNITY EVENTS

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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 (2024)

Revenue Breakdown

Contributions & Grants $232,060

Program Service Revenue $758,955

Investment Income $9,207

Other Revenue $117,644

TOTAL REVENUE $1,117,866

Expense Breakdown

Grants Paid $0

Salaries & Benefits $17,009

Fundraising Expenses $31,963

Program Expenses $1,022,998

Other Expenses $1,053,640

TOTAL EXPENSES $1,070,649

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,117,866	$1,129,399	0.0%
Expenses	$1,070,649	$1,025,325	+0.0%
Net Income	$47,217	$104,074	-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

200

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
CRAIG PETRSON	PRESIDENT	4.00	Officer Director	$0	$0	$0
RON LAMMERT	VICE PRESIDENT	4.00	Officer Director	$0	$0	$0
ADAM DARRINGTON	SECRETARY	4.00	Officer Director	$0	$0	$0
ADAM LEBER	TREASURER	4.00	Officer Director	$0	$0	$0
CALVIN PETERSEN	DIRECTOR	2.00	Director	$0	$0	$0
DAVE FISCHER	DIRECTOR	2.00	Director	$0	$0	$0
BRETT BEVERAGE	DIRECTOR	2.00	Director	$0	$0	$0
KYLE FISCHER	DIRECTOR	2.00	Director	$0	$0	$0
ARLYN JENSEN	DIRECTOR	2.00	Director	$0	$0	$0
ALLIE FROST	DIRECTOR	2.00	Director	$0	$0	$0
DAN MILLER	DIRECTOR	2.00	Director	$0	$0	$0
JOHN BRACKER	DIRECTOR	2.00	Director	$0	$0	$0
HALEY FISCHER	DIRECTOR	2.00	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
2025	$1,117,866	$1,070,649	$807,980	$47,217
2024	No data	No data	No data	No data
2023	$1,069,982	$1,055,691	$656,458	$14,291
2022	$417,140	$383,356	$661,306	$33,784
2021	$419,934	$352,770	$646,166	$67,164
2020	$213,998	$183,167	$618,709	$30,831
2019	$404,881	$311,700	$612,176	$93,181
2018	$356,703	$348,686	$633,301	$8,017