ISLAND COUNTY FAIR 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

1923

Legal Domicile

Phone

3602214677

Tax Period

2024-10-01 to 2025-09-30

ISLAND COUNTY FAIR ASSOCIATION, founded in 1923, is a small nonprofit in the Youth Development sector that reported $480K in total revenue in fiscal year 2024. Revenue surged 28% from the prior year, signaling strong growth momentum. Expenses of $442K left a modest 8% surplus.

Mission

PREPARATION AND PLANNING FOR THE WHIDBEY ISLAND FAIR WHICH OCCURS EVERY JULY. THE ANNUAL ATTENDANCE IS APPROXIMATELY 18,000

Program Service Accomplishments

Program 1

Expenses: $402,300

ISLAND COUNTY FAIR

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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 $129,504

Program Service Revenue $338,012

Investment Income $12,123

Other Revenue $-38

TOTAL REVENUE $479,601

Expense Breakdown

Grants Paid $4,851

Salaries & Benefits $80,838

Fundraising Expenses $320

Program Expenses $402,300

Other Expenses $356,323

TOTAL EXPENSES $442,340

Year-over-Year Comparison

	2024	2023	Change
Revenue	$479,601	$374,330	+0.3%
Expenses	$442,340	$380,391	+0.2%
Net Income	$37,261	$-6,061	-7.1%

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

Volunteers

250

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
JASON KALK	DIRECTOR	2.00	Director	$0	$0	$0
SUSAN BAKER	DIRECTOR	2.00	Director	$0	$0	$0
MEGAN OLLIS-WILLIAMS	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
LISA HUNNICUT	SECRETARY	2.00	Officer Director	$0	$0	$0
ELISE GABELEIN	PRESIDENT	5.00	Officer Director	$0	$0	$0
ANNE MADSEN	DIRECTOR	2.00	Director	$0	$0	$0
MIKE GALLION	DIRECTOR	2.00	Director	$0	$0	$0
LAURA ROOKSTOOL	DIRECTOR	2.00	Director	$0	$0	$0
VIRGINIA KECK	TREASURER	4.00	Officer 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
2025	$479,601	$442,340	$412,340	$37,261
2024	$374,330	$380,391	$506,291	$-6,061
2023	$395,382	$416,597	$359,083	$-21,215
2022	$511,741	$462,123	$322,272	$49,618
2021	$311,844	$188,604	$263,579	$123,240
2019	$301,209	$281,421	$170,901	$19,788
2018	$263,065	$247,464	$150,987	$15,601