Western Kentucky State Fair Inc

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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

1951

Legal Domicile

Principal Officer

Tony Meacham

Phone

2702650070

Tax Period

2023-01-01 to 2023-12-31

Western Kentucky State Fair Inc, founded in 1951, is a small nonprofit that reported $759K in total revenue in fiscal year 2023. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $156K, a strong 21% operating margin.

Mission

To promote and advance the local tourism industry and economy while serving the entertainment, cultural and educational intersts of the public.

Program Service Accomplishments

Program 1

To promote and advance the local tourism industry and economy while serving the entertainment, cultural and educational interests of the public.

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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 $100,000

Program Service Revenue $658,888

Investment Income $0

Other Revenue $0

TOTAL REVENUE $758,888

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $603,096

TOTAL EXPENSES $603,096

Year-over-Year Comparison

	2023	2022	Change
Revenue	$758,888	$657,775	+0.2%
Expenses	$603,096	$22,996	+25.2%
Net Income	$155,792	$634,779	-0.8%

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

N/A

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
Brad Hewell	Pres	1.00	Officer Director	$0	$0	$0
Kent Boyd	VP	1.00	Officer Director	$0	$0	$0
Jeri Lynn Fritts	Sec	1.00	Officer Director	$0	$0	$0
Donna Cornelius	Director	1.00	Director	$0	$0	$0
Terry Minuth	Director	1.00	Director	$0	$0	$0
Glenda Wright	Director	1.00	Director	$0	$0	$0
Preston Rives	Director	1.00	Director	$0	$0	$0
Karen Kopp Voshel	Director	1.00	Director	$0	$0	$0
Jack Orem	Director	1.00	Director	$0	$0	$0
Dillon Fleming	Director	1.00	Director	$0	$0	$0
Brittany Newcom	Director	1.00	Director	$0	$0	$0
Barry Cornelius	Treasurer	1.00	Officer Director	$0	$0	$0
Kayleigh Graves	Director	1.00	Director	$0	$0	$0
Wesley Livingston	Director	1.00	Director	$0	$0	$0
Kristi Thomas	Director	1.00	Director	$0	$0	$0
Tom Sholar	Director	1.00	Director	$0	$0	$0
James Dossett	Director	1.00	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	No data	No data	No data	No data
2023	$758,888	$603,096	$806,946	$155,792
2022	$657,775	$22,996	$635,524	$634,779
2021	$400,029	$267,062	$463,217	$132,967
2020	$62,638	$100,191	$341,864	$-37,553
2019	$285,105	$281,671	$218,615	$3,434