MARYLAND STATE FAIR & AGRICULTURAL… - Form 990 Financial Data

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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

1950

Legal Domicile

Principal Officer

DONNA G MYERS

Phone

4102520200

Tax Period

2023-11-01 to 2024-10-31

MARYLAND STATE FAIR & AGRICULTURAL SOCIETY INC, founded in 1950, is a community nonprofit in the Recreation & Sports sector that reported $8.1M in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. Net assets of $16.5M represent 25 months of operating reserves.

Mission

THE MARYLAND STATE FAIR & AGRICULTURAL SOCIETY, INC., A PRIVATE NON-PROFIT 501(C)(3)ORGANIZATION, SUPPORTS AGRICULTURE, EDUCATION, PRESERVES AND PROMOTES MARYLAND'S AGRICULTURAL ROOTS, AND PROVIDES COMPETITIONS AND EVENTS SHOWCASING MARYLAND'S PREMIER INDUSTRY. ANNUALLY, THE MARYLAND STATE FAIR PROVIDES NEW FAMILY ENTERTAINMENT WHILE PERSERVING TRADITIONAL FAVORITES, HONORS THE TALENTS OF MARYLAND YOUTH AND ADULTS THROUGH COMPETITION AND SHOWCASES, AND PROVIDES FUN, EDUCATIONAL OPPORTUNITIES TO HELP PROMOTE MARYLAND'S LEADING INDUSTRY, AGRICULTURE. SINCE MANY PEOPLE ARE GENERATIONS AWAY FROM THE FARM, THE MARYLAND STATE FAIR EXPANDS AND CHANGES ITS EXHIBITS TO KEEP UP WITH TECHNOLOGICAL AND INDUSTRY ADVANCEMENTS. AMONG THE MANY CURRENT AGRICULTURAL EXHIBITS ARE THE MARYLAND STATE FAIR BIRTHING CENTER, U-LEARN FARM, THE UNIVERSITY OF MARYLAND DAIRY AND WYE BEEF HERDS EXHIBITS, HORSELAND, NATURE PLAY SPACE, AND MORE. IF HISTORY IS EVIDENCE, THE MARYLAND STATE FAIR WILL CONTINUE TO GROW,

Program Service Accomplishments

Program 1

Expenses: $5,236,351

THE MARYLAND STATE FAIR IS AN ANNUAL ATTRACTION HELD BETWEEN LATE AUGUST AND EARLY SEPTEMBER AND IS HOST TO SEVERAL HUNDRED THOUSAND ATTENDEES. THE ATTRACTIONS INCLUDE AMUSEMENT RIDES, CONCERTS...

THE MARYLAND STATE FAIR IS AN ANNUAL ATTRACTION HELD BETWEEN LATE AUGUST AND EARLY SEPTEMBER AND IS HOST TO SEVERAL HUNDRED THOUSAND ATTENDEES. THE ATTRACTIONS INCLUDE AMUSEMENT RIDES, CONCERTS, ANIMALS, PRODUCE, FOOD PRODUCTS, ARTS & CRAFTS, AND AMONG OTHERS MD FARM EDUCATIONAL EXHIBITS HOSTED BY THE 4H, FFA, U LEARN CENTER, ANIMAL WORLD, AND STEM AND TECHNOLOGY. THE STATE FAIR SERVES AS A STATE WIDE NETWORKING AND CAREER DEVELOMENT FOR INDIVIDUALS INVOLVED IN SUCH PROGRAMS.

Program 2

Expenses: $2,039,072

THOROUGHBRED RACING IS HELD FOR 7-10 DAYS DURING THE MARYLAND STATE FAIR. IN ADDITION TO SUPPORTING MARYLAND HORSE BREEDING, THE RACING DAYS PROVIDE A PUBLIC ENTERTAINMENT ACTIVITY EACH YEAR.

Program 3

EACH YEAR THE MARYLAND STATE FAIR MAKES IT'S FACILITIES AVAILABLE TO OTHER LIVESTOCK AND AGRICULTURAL GROUPS AT NO COST OR FOR REDUCED RENTAL RATES. PRIOR EVENTS WERE THE ATLANTIC NATIONAL ANGUS...

EACH YEAR THE MARYLAND STATE FAIR MAKES IT'S FACILITIES AVAILABLE TO OTHER LIVESTOCK AND AGRICULTURAL GROUPS AT NO COST OR FOR REDUCED RENTAL RATES. PRIOR EVENTS WERE THE ATLANTIC NATIONAL ANGUS EVENT, BALTIMORE COUNTY FARMERS MARKET,BALTIMORE COUNTY 4-H FAIR, MARYLAND HORSE BREEDERS YEARLING SHOW, THE PDCA DAIRY CATTLE SHOW & YOUTH SWINE SHOW ARE HELD ON THE FAIRGROUNDS.

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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 $512,873

Program Service Revenue $7,069,451

Investment Income $235,110

Other Revenue $255,238

TOTAL REVENUE $8,072,672

Expense Breakdown

Grants Paid $28,695

Salaries & Benefits $2,056,776

Fundraising Expenses $0

Program Expenses $7,275,423

Other Expenses $6,064,008

TOTAL EXPENSES $8,149,479

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,072,672	$7,036,890	+0.1%
Expenses	$8,149,479	$7,786,956	+0.0%
Net Income	$-76,807	$-750,066	-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

389

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
JEREMY D'ANGELO	MARKETING DI	40.00	Highest	$246,348	$5,458	$251,806
D ANDREW CASHMAN	GENERAL MANA	50.00	Highest	$134,862	$25,685	$160,547
CHARLES HORN	ELECTRICIAN	40.00	Highest	$114,871	$18,002	$132,873
TERRY WARNER	DIRECTOR OF	40.00	Highest	$121,286	$5,513	$126,799
DAVID GORDON	ASSISTANT GE	40.00	Highest	$108,462	$15,051	$123,513
A FERRIS ALLEN	DIRECTOR	2.00	Director	$0	$0	$0
MARY AMOSS	DIRECTOR	2.00	Director	$0	$0	$0
KATHLEEN BEADELL	DIRECTOR	2.00	Director	$0	$0	$0
DAVID L BRAUNING	DIRECTOR	2.00	Director	$0	$0	$0
JAMIE BULLOCK	DIRECTOR	2.00	Director	$0	$0	$0
FRAN BURNS	PRESIDENT	10.00	Officer Director	$0	$0	$0
H WARD CLASSEN	SECRETARY	10.00	Officer Director	$0	$0	$0
AMANDA CLOUGHERTY	DIRECTOR	2.00	Director	$0	$0	$0
VALERIE T CONNELLY	DIRECTOR	2.00	Director	$0	$0	$0
JOHN EMOONEY	DIRECTOR	2.00	Director	$0	$0	$0
CHARLES R CONNER III ESQ	DIRECTOR	2.00	Director	$0	$0	$0
RENE D HEAPS	DIRECTOR	2.00	Director	$0	$0	$0
DAVID HILL	DIRECTOR	2.00	Director	$0	$0	$0
MATT HOFF	DIRECTOR	2.00	Director	$0	$0	$0
KAREN HOLLOWAY	DIRECTOR	2.00	Director	$0	$0	$0
J ROBERT TIBBS JR	TREASURER	10.00	Officer Director	$0	$0	$0
LAMBERT G BOYCE JR	ASST. TREASU	2.00	Officer Director	$0	$0	$0
DONALD E LIPPY	DIRECTOR	2.00	Director	$0	$0	$0
DONALD LITZ	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM F C MARLOW	DIRECTOR	2.00	Director	$0	$0	$0
DANIEL MAST	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT C MILLER	DIRECTOR	2.00	Director	$0	$0	$0
DONNA G MYERS	CHAIR	10.00	Officer Director	$0	$0	$0
JAMES STEELE	DIRECTOR	2.00	Director	$0	$0	$0
JAMES G STIERHOFF	DIRECTOR	2.00	Director	$0	$0	$0
DR JOSEPH H SULLIVAN	DIRECTOR	2.00	Director	$0	$0	$0
REBECKA TETTER	DIRECTOR	2.00	Director	$0	$0	$0
BARRY F WILLIAMS	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
2024	$8,072,672	$8,149,479	$19,006,477	$-76,807
2023	$7,036,890	$7,786,956	$18,016,539	$-750,066
2022	$7,636,196	$7,280,539	$17,600,523	$355,657
2021	$10,711,144	$5,968,016	$17,597,510	$4,743,128
2020	$2,054,378	$2,878,736	$12,981,234	$-824,358
2019	$6,253,257	$6,610,669	$13,304,623	$-357,412
2018	$6,237,006	$6,701,363	$13,256,402	$-464,357

MARYLAND STATE FAIR & AGRICULTURAL SOCIETY INC