Utah State Fair Corporation (EIN 870541757) - 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

1995

Legal Domicile

Principal Officer

Larry Mullenax

Phone

8015388452

Tax Period

2023-01-01 to 2023-12-31

Utah State Fair Corporation, founded in 1995, is a community nonprofit in the Recreation & Sports sector that reported $9.8M in total revenue in fiscal year 2023. Revenue decreased 19% compared to the prior year. The organization ran a surplus of $1.9M, a strong 20% operating margin.

Mission

The Utah State Fair Corporation was established to preserve Utah's heritage, meet tomorrow's future today, and showcase agriculture and innovative technology.

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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 $155,059

Program Service Revenue $7,272,869

Investment Income $483,203

Other Revenue $1,845,151

TOTAL REVENUE $9,756,282

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,203,391

Fundraising Expenses $0

Program Expenses $6,978,192

Other Expenses $5,604,368

TOTAL EXPENSES $7,807,759

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,756,282	$12,082,221	-0.2%
Expenses	$7,807,759	$6,192,225	+0.3%
Net Income	$1,948,523	$5,889,996	-0.7%

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

312

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

$276,725

Total Directors

$18,293

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Larry Mullenax	Executive Dir.	40.00	Officer	$221,769	$54,125	$275,894
NICOLE CLAEYS	DEPUTY EXEC. DIR.	40.00		$94,942	$49,137	$144,079
ROBERT VILLARREAL	FACILITY DIRECTOR	40.00		$66,614	$40,523	$107,137
LILLIAN J BAYLES	Director	2.00	Director	$5,471	$0	$5,471
Wade Garrett	Director	2.00	Director	$3,570	$0	$3,570
Jared Buhler	Director	2.00	Director	$3,553	$0	$3,553
Paula Martin	Director	2.00	Director	$2,622	$0	$2,622
Paul Morris	Director	2.00	Director	$920	$0	$920
Ted Lewis	Director	2.00	Director	$846	$0	$846
David Lewis	Chairman	2.00	Officer Director	$831	$0	$831
Jennifer Seelig	Director	2.00	Director	$360	$0	$360
Kip Paul	Director	2.00	Director	$120	$0	$120
MIKE AMBRE	Director	2.00	Director	$0	$0	$0
SCOTT SANDALL	Director	2.00	Director	$0	$0	$0
CRAIG BUTTARS	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	No data	No data	No data	No data
2023	$9,756,282	$7,807,759	$14,683,622	$1,948,523
2022	$12,082,221	$6,192,225	$12,772,062	$5,889,996
2021	$8,118,734	$5,991,974	$6,943,836	$2,126,760
2020	$2,978,683	$3,364,694	$4,865,509	$-386,011
2019	$6,535,256	$5,827,458	$5,810,450	$707,798
2018	$7,668,993	$5,400,126	$4,315,555	$2,268,867
2017	$5,366,092	$4,662,829	$2,035,856	$703,263

Utah State Fair Corporation