MADISON COUNTY FAIR ASSOCIATION 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

1923

Legal Domicile

Principal Officer

TRACIE JACKSON

Phone

4797381205

Tax Period

2023-01-01 to 2023-12-31

MADISON COUNTY FAIR ASSOCIATION INC, founded in 1923, is a small nonprofit in the Recreation & Sports sector that reported $150K in total revenue in fiscal year 2023. Revenue fell 33% from the prior year — a significant decline worth monitoring. Expenses of $280K exceeded revenue, resulting in a 87% operating deficit.

Mission

TO GET YOUTH INVOLVED WITH AGRICULTURE THROUGH THE FAIR, LIVESTOCK SHOW, RODEO, AGRICULTURAL AND HORTICULTURE EXHIBITOR AWARDS AND PRIZES

Program Service Accomplishments

Program 1

Expenses: $155,708 Revenue: $141,640

THIS YEAR'S CARNIVAL BROUGHT IN $6,519, FAIR ADMISSION: $12,536, BOOTH RENTAL $750, AND TRUCK PULL TICKETS $5,055, THE JUNIOR LIVESTOCK AUCTION BROUGHT IN $116,780, $133,872 OF WHICH WAS PAID OUT TO THE YOUTHS PARICIPATING IN THE PREMIUM AUCTION. PARTICIPANTS IN OTHER ACTIVITIES SUCH AS THE EDUCATIONAL DEPARTMENT AND OTHER SHOWS WERE AWARDS $9,067 IN CASH PRIZES AND $3,676 IN NONCASH PRIZES AND AWARDS.

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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 $71,645

Program Service Revenue $141,640

Investment Income $50

Other Revenue $-63,595

TOTAL REVENUE $149,740

Expense Breakdown

Grants Paid $2,300

Salaries & Benefits $0

Fundraising Expenses $91,834

Program Expenses $155,708

Other Expenses $243,153

TOTAL EXPENSES $280,253

Year-over-Year Comparison

	2023	2022	Change
Revenue	$149,740	$224,296	-0.3%
Expenses	$280,253	$152,846	+0.8%
Net Income	$-130,513	$71,450	-2.8%

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

N/A

Independent Members

N/A

Employees

N/A

Volunteers

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
TRACIE JACKSON	PRESIDENT	20.00	Officer	$0	$0	$0
LAYTON KING	VICE PRESIDENT	N/A	Officer	$0	$0	$0
TARA CARLTON	SECRETARY/TREASURER	2.00	Officer	$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
2023	$149,740	$280,253	$94,086	$-130,513
2022	$224,296	$152,846	$131,847	$71,450
2021	$245,159	$184,762	$60,397	$60,397