Adams County Fair and Racing Assoc

Analysis

Adams County Fair and Racing Assoc is a registered charity in United States, based in Corning, IA. It received its IRS tax-exemption ruling in February 1998, 28 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Adams County Fair and Racing Assoc reported income of $524k and spending of $493k, spending 94% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $96k to $524k (+447%), an average of +53% a year. The sharpest change came in the year to December 2021, when income rose by 111%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Adams County Fair and Racing Assoc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 73rd percentile within IA. Charities of a similar size with the same main cause include Youth Choirs Inc ($524k), Mineola Portuguese Center Inc ($524k) and Restore Oregon Inc ($523k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.0% and program service revenue 84% of the total. Other salaries and wages came to $16k. At year end it held assets of $104k against liabilities of $0, net assets of $104k.