THE WESTERN STOCK SHOW 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

1905

Legal Domicile

Principal Officer

WES ALLISON

Phone

3032971116

Tax Period

2024-04-01 to 2025-03-31

THE WESTERN STOCK SHOW ASSOCIATION, founded in 1905, is a mid-sized nonprofit in the Recreation & Sports sector that reported $49.8M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion. The organization ran a surplus of $19.4M, a strong 39% operating margin.

Mission

THE ASSOCIATION IS AN EDUCATIONAL ORGANIZATION WHOSE PRIMARY PURPOSES INCLUDE (1) LIVESTOCK PRODUCTION EDUCATION (2) EDUCATIONAL DEVELOPMENT OF YOUTH, AND (3) EDUCATING THE GENERAL PUBLIC. SEE "SCHEDULE O" FOR A FULL DESCRIPTION OF THE ORGANIZATION'S MISSION.

Program Service Accomplishments

Program 1

Expenses: $20,450,688 Revenue: $22,005,531

PRESENTATION OF THE NATIONAL WESTERN STOCK SHOW, HORSE SHOW ANDRODEO: WSSA ORGANIZATIONAL DOCUMENTS AND APPLICATION FOR TAXEXEMPT STATUS REQUIRE IT TO PRODUCE THE SHOW EACH YEAR. THE SHOWTAKES PLACE AT THE NATIONAL WESTERN COMPLEX IN DENVER, CO EVERYJANUARY, AND FOR THE LAST SEVERAL YEARS HAS BEEN ATTENDED BY OVER600,000 PEOPLE. DETAILED INFORMATION ON THE VARIOUS EDUCATIONALACTIVITIES AND BENEFITS OF THIS ANNUAL EVENT IS FAR TOO EXTENSIVETO BE PRESENTED ON A SUMMARY SCHEDULE IN FORM 990.

Program 2

Expenses: $2,188,957 Revenue: $349,844

OFF-SEASON EDUCATIONAL SHOWS AND RELATED PROGRAMS: OUTSIDE OF THEMONTH OF JANUARY, THE ASSOCIATION PROMOTES USAGE OF ITS FACILITIESBY A VARIETY OF OTHER ORGANIZATIONS, MANY OF WHICH AREAGRICULTURE...

OFF-SEASON EDUCATIONAL SHOWS AND RELATED PROGRAMS: OUTSIDE OF THEMONTH OF JANUARY, THE ASSOCIATION PROMOTES USAGE OF ITS FACILITIESBY A VARIETY OF OTHER ORGANIZATIONS, MANY OF WHICH AREAGRICULTURE, LIVESTOCK OR HORSE ORIENTED ORGANIZATIONS. THESEORGANIZATIONS PRODUCE THEIR OWN SHOWS IN THE NATIONAL WESTERNCOMPLEX BASED ON CONTRACTS WITH THE ASSOCIATION. SUPPORTED BYASSOCIATION PERSONNEL AND OTHER RESOURCES, MANY OF THESE SHOWSPROVIDE EDUCATIONAL BENEFITS TO THE PARTICIPANTS AND THE GENERALPUBLIC ATTENDING SIMILAR TO THOSE DERIVED FROM THE NATIONALWESTERN STOCK SHOW, HORSE SHOW AND RODEO IN JANUARY.

Program 3

Expenses: $363,372

NATIONAL WESTERN SCHOLARSHIP PROGRAMS: WSSA ESTABLISHED THENATIONAL WESTERN SCHOLARSHIP FUND DURING THE FISCAL YEAR ENDEDMARCH 31, 1985 TO PROVIDE FOR SCHOLARSHIP AWARDS TO STUDENTSINTERESTED IN...

NATIONAL WESTERN SCHOLARSHIP PROGRAMS: WSSA ESTABLISHED THENATIONAL WESTERN SCHOLARSHIP FUND DURING THE FISCAL YEAR ENDEDMARCH 31, 1985 TO PROVIDE FOR SCHOLARSHIP AWARDS TO STUDENTSINTERESTED IN LIVESTOCK OR AGRICULTURE. THE SCHOLARSHIP PROGRAMHAS GROWN DRAMATICALLY WITH NUMEROUS STUDENTS AND PROSPECTIVESTUDENTS RECEIVING SCHOLARSHIP AWARDS ANNUALLY BOTH THROUGH WSSAAND THROUGH A SCHOLARSHIP ENDOWMENT FROM WSSA MATCHED BY ANDADMINISTERED BY THE UNIVERSITY OF WYOMING.

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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 $14,327,578

Program Service Revenue $27,655,559

Investment Income $7,894,882

Other Revenue $-67,610

TOTAL REVENUE $49,810,409

Expense Breakdown

Grants Paid $553,934

Salaries & Benefits $8,343,652

Fundraising Expenses $4,599,156

Program Expenses $23,225,248

Other Expenses $21,464,203

TOTAL EXPENSES $30,361,789

Year-over-Year Comparison

	2024	2023	Change
Revenue	$49,810,409	$44,531,783	+0.1%
Expenses	$30,361,789	$28,051,189	+0.1%
Net Income	$19,448,620	$16,480,594	+0.2%

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

660

Volunteers

978

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

$1,947,382

Total Directors

$544,848

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JJ AMENT	DIRECTOR	1.00	Director	$0	$0	$0
MARK GUSTAFSON	SECRETARY	1.00	Director	$0	$0	$0
PATRICK GRANT	DIRECTOR	1.00	Director	$0	$0	$0
DR TONY FRANK	DIRECTOR	1.00	Director	$0	$0	$0
BROOKE FOX	DIRECTOR	1.00	Director	$0	$0	$0
LUKE LIND	DIRECTOR	1.00	Director	$0	$0	$0
PETER COORS	CHAIRMAN, CAPITAL CAMPAIGN	1.00	Director	$0	$0	$0
TERRANCE CARROLL	DIRECTOR	1.00	Director	$0	$0	$0
BARTH WHITHAM	VICE CHAIRMAN OF THE BOARD	1.00	Director	$0	$0	$0
JUSTIN CUMMING	DIRECTOR	1.00	Director	$0	$0	$0
SUE ANSCHUTZ-RODGERS	DIRECTOR	1.00	Director	$0	$0	$0
DOUG JONES	CHAIRMAN	1.00	Officer Director	$0	$0	$0
GUY MCENDAFFER	DIRECTOR	1.00	Director	$0	$0	$0
BRUCE WAGNER	TREASURER	1.00	Director	$0	$0	$0
NANCY TUOR MOORE	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL LONG	DIRECTOR	1.00	Director	$0	$0	$0
RON WILLIAMS	FORMER CHAIRMAN/DIRECTOR	1.00	Director	$0	$0	$0
STANTON DODGE	DIRECTOR	1.00	Director	$0	$0	$0
PAUL ANDREWS	PRESIDENT & CEO - TERM ENDED JAN 2025	40.00	Officer Director	$483,099	$61,749	$544,848
JEFFREY CHILDS	STAFF VP & CFO	40.00	Officer	$281,224	$52,689	$333,913
KYLE BAUN	STAFF VP OF TICKET & EVENT	40.00	Officer	$194,814	$46,632	$241,446
LEON VICK	STAFF VP OF RODEO, HORSE &	40.00	Officer	$179,442	$45,541	$224,983
CLINT CHITSEY	VICE PRESIDENT OF EVENT OP	40.00	Officer	$152,242	$58,811	$211,053
JOHN ELLIS	STAFF VP OF PARTNERSHIP &	40.00	Officer	$321,780	$69,359	$391,139

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	$49,810,409	$30,361,789	$111,526,361	$19,448,620
2024	$44,531,783	$28,051,189	$83,373,681	$16,480,594
2023	$39,100,078	$38,567,175	$70,099,619	$532,903
2022	$39,147,605	$49,958,630	$72,710,751	$-10,811,025
2021	$9,274,199	$12,354,604	$78,537,975	$-3,080,405
2020	$49,917,896	$25,698,046	$82,529,482	$24,219,850
2019	$33,182,028	$39,128,527	$58,518,705	$-5,946,499
2018	$34,030,446	$23,784,079	$64,873,765	$10,246,367