IOWA STATE FAIR FOUNDATION (EIN 421376689) - 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

1991

Legal Domicile

Principal Officer

Peter Cownie

Phone

5152623111

Tax Period

2023-11-01 to 2024-10-31

IOWA STATE FAIR FOUNDATION, founded in 1991, is a mid-sized nonprofit in the Recreation & Sports sector that reported $14.8M in total revenue in fiscal year 2023. Revenue surged 178% from the prior year, signaling strong growth momentum. The organization ran a surplus of $8.4M, a strong 56% operating margin.

Mission

Raise funds for renovation and preservation of the historic Iowa State Fairgrounds by soliciting and accepting gifts, donations, bequests and grants to help finance infrastructure projects to guarantee the Fair continues to be a salute to the state's best in ag, industry, entertainment and achievement

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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 $12,712,748

Program Service Revenue $0

Investment Income $404,267

Other Revenue $1,697,046

TOTAL REVENUE $14,814,061

Expense Breakdown

Grants Paid $3,453,055

Salaries & Benefits $643,718

Fundraising Expenses $1,021,656

Program Expenses $4,433,459

Other Expenses $2,359,962

TOTAL EXPENSES $6,456,735

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,814,061	$5,319,602	+1.8%
Expenses	$6,456,735	$6,481,287	0.0%
Net Income	$8,357,326	$-1,161,685	-8.2%

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

700

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

$396,009

Key Employees

$114,629

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Peter Cownie	Executive Director	40	Director Highest	$235,194	$46,186	$281,380
Robin Taylor	Assistant Director	40	Director Key Emp	$91,949	$22,680	$114,629
Jo Reynolds	Director	0	Director	$0	$0	$0
Tennie Carlson	Director	0	Director	$0	$0	$0
Darwin Gaudian	President	0	Officer Director	$0	$0	$0
Alan Brown	Director	0	Director	$0	$0	$0
Gary McConnel	Director	0	Director	$0	$0	$0
Curtis Claeys	Vice President	0	Officer Director	$0	$0	$0
John Harms	Director	0	Director	$0	$0	$0
Deb Zumbach	Secretary	0	Officer Director	$0	$0	$0
Randy Brown	Director	0	Director	$0	$0	$0
VerDon Schmidt	Director	0	Director	$0	$0	$0
CW Thomas	Director	0	Director	$0	$0	$0
Gary Van Aernam	Director	0	Director	$0	$0	$0
Kim Reynolds	Governor	0	Director	$0	$0	$0
Michael Naig	Secretary of Agriculture	0	Director	$0	$0	$0
Wendy Wintersteen	President of Iowa State University	0	Director	$0	$0	$0
Jeremy Parson	Secretary	0	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	$14,814,061	$6,456,735	$26,349,924	$8,357,326
2023	$5,319,602	$6,481,287	$22,677,711	$-1,161,685
2022	$13,279,780	$6,055,861	$20,880,199	$7,223,919
2021	$3,626,337	$5,608,672	$11,154,654	$-1,982,335
2020	$8,403,117	$12,885,182	$11,002,682	$-4,482,065

IOWA STATE FAIR FOUNDATION