Is Rio Arriba County Fair Association Legit?

The Rio Arriba County Fair Association demonstrates consistent financial activity, with revenues and expenses generally balancing out over the past decade. In the latest filing (202312), the organization reported revenues of $217,722 against expenses of $235,233, indicating a slight deficit for the period. This trend of near break-even operations is common for community-focused nonprofits. The organization consistently reports $0 in liabilities across all available filings, suggesting a healthy balance sheet free from debt. Assets have fluctuated, with the latest at $24,612, which is relatively modest given its annual revenue. The absence of reported officer compensation in all filings suggests a volunteer-led or minimally compensated leadership structure, which can be a positive indicator of resource allocation directly to mission-related activities. Spending efficiency appears to be reasonable, given the nature of a fair association which often involves significant event-related costs. While a detailed breakdown of program, administrative, and fundraising expenses isn't explicitly provided in the summary data, the consistent near-zero liabilities and lack of executive compensation imply that a substantial portion of funds likely supports the fair's operations. The organization's revenue has shown growth, increasing from $168,263 in 2022 to $217,722 in 2023, indicating continued community engagement and support. However, the slight deficit in the latest year warrants monitoring to ensure long-term financial stability. Transparency is generally good, with consistent IRS 990 filings available over many years. The clear reporting of revenue, expenses, assets, liabilities, and officer compensation provides a solid foundation for financial analysis. The consistent reporting of $0 officer compensation enhances transparency by showing that leadership is not drawing salaries from the organization's funds. The organization's financial health appears stable, operating on a year-to-year basis with minimal reserves, which is typical for smaller, event-driven nonprofits.