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Nonprofiteer
← EVENT FACILITIES FORT WORTH INC

Form 990 for tax year 2022

Filed by EVENT FACILITIES FORT WORTH INC.

Totals

Total revenue
$3,389,617
Total expenses
$4,311,433
Contributions and grants received
$3,283,703
Grants paid
$0
Program service revenue
$0
Investment income
$67,302
Other revenue
$38,612
Total assets, end of year
$52,225,892
Total liabilities, end of year
$94,107,094
Net assets or fund balances, end of year
-$41,881,202
Program services expenses (Part IX)
$4,249,711
Management and general expenses
$61,722
Fundraising expenses
$0
Program service expenses (Part III)
$4,249,711

Program services were 98.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $3,283,703

  • 3 · Investment income

    total $67,302 · excluded $67,302

  • 6a · Gross rents

    real property $19,936

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $19,936

  • 6d · Net rental income or loss

    total $19,936 · excluded $19,936

  • 11a · Other revenue: OTHER REVENUE

    total $18,676 · related or exempt $18,676

  • 11e · Other revenue, total

    $18,676

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $8,314 · program services $8,314

  • 11c · Fees: accounting

    total $24,071 · management and general $24,071

  • 11f · Fees: investment management

    total $325 · management and general $325

  • 16 · Occupancy

    total $20,793 · program services $20,793

  • 20 · Interest

    total $2,360,962 · program services $2,360,962

  • 22 · Depreciation, depletion and amortization

    total $1,752,642 · program services $1,752,642

  • 23 · Insurance

    total $32,942 · management and general $32,942

  • 24a · Other expenses: TCU ARENA EXPENSE

    total $107,000 · program services $107,000

  • 24b · Other expenses: BANK FEES

    total $3,872 · management and general $3,872

  • 24c · Other expenses: MISCELLANEOUS

    total $512 · management and general $512

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,684,803 · end of year $4,730,120

  • 3 · Pledges and grants receivable

    beginning of year $15,277,481 · end of year $9,621,184

  • 4 · Accounts receivable

    beginning of year $14,950 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $32,981 · end of year $34,333

  • 10a · Land, buildings and equipment: cost or other basis

    $52,607,777

  • 10b · Land, buildings and equipment: accumulated depreciation

    $16,073,500

  • 10c · Land, buildings and equipment, net

    beginning of year $37,511,877 · end of year $36,534,277

  • 11 · Investments: publicly traded securities

    beginning of year $1,369,851 · end of year $1,301,618

  • 15 · Other assets

    beginning of year $4,360 · end of year $4,360

  • 17 · Accounts payable and accrued expenses

    beginning of year $565,202 · end of year $530,400

  • 19 · Deferred revenue

    beginning of year $0 · end of year $1,694

  • 22 · Loans and payables to officers and key people

    beginning of year $97,075,000 · end of year $93,575,000

  • 27 · Net assets without donor restrictions

    beginning of year -$42,702,070 · end of year -$43,747,417

  • 28 · Net assets with donor restrictions

    beginning of year $1,958,171 · end of year $1,866,215

Mission and programs · 2022

Mission

SEE SCHEDULE O.THE PURPOSE OF THE ORGANIZATION IS TO PROMOTE AGRICULTURAL SCIENCES TO THE APPROXIMATELY 1,000,000 PEOPLE WHO ATTEND THE SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW (THE "STOCK SHOW"). ADDITIONALLY, THE ORGANIZATION ASSISTED WITH THE ESTABLISHMENT OF A NEW ARENA FOR THE CITY OF FORT WORTH (THE "CITY") ADJACENT TO THE WILL ROGERS MEMORIAL CENTER (THE "ARENA PROJECT"), WHERE THE ANNUAL STOCK SHOW IS HELD. UPON COMPLETION OF THE ARENA PROJECT, THE ORGANIZATION EXECUTED A GIFT DEED TO THE CITY AND CONVEYED THE ARENA PROJECT TO THE CITY DURING THE YEAR ENDED MARCH 31, 2021. THE ORGANIZATION WILL CONTINUE TO SUPPORT THE ACTIVITIES OF THE STOCK SHOW BY MAINTAINING THE ORGANIZATION'S REAL ASSETS AND MAKING THEM AVAILABLE TO THE STOCK SHOW. ADDITIONALLY, THE ORGANIZATION WILL ASSIST WITH FUTURE DEVELOPMENT PROJECTS TO PROMOTE AGRICULTURAL SCIENCES TO THOSE WHO ATTEND THE STOCK SHOW.

Activities or mission (Part I)

SEE SCHEDULE O.TO SUPPORT THE ACTIVITIES OF THE SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW, AN EDUCATIONAL AND SCIENTIFIC ORGANIZATION.

  • PROVIDED FACILITIES TO THE SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW, AN ANNUAL EVENT THAT PROMOTES AGRICULTURAL SCIENCES TO APPROXIMATELY 1,000,000 PEOPLE. EVENT FACILITIES FORT WORTH, INC. CONTINUES TO SUPPORT THE ACTIVITIES OF SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW BY MAINTAINING AND IMPROVING REAL ASSETS AND MAKING THEM AVAILABLE TO SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW.

    Expenses $4,249,711 · Revenue $18,676

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bradford S Barnes

    DIRECTOR

    Total calculated
    $752,919
    From this org
    $0
    From related orgs
    $607,825
    Other
    $145,094
    Hours/week
    0.4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $382,825 related
    Bonus
    $0 + $225,000 related
    Other
    $0
    Deferred
    $0 + $117,670 related
    Nontaxable benefits
    $0 + $27,424 related
    Filer's total
    $0 + $752,919 related

  • Edward P Bass

    CHAIRMAN OF THE BOARD

    Total calculated
    $0
    Hours/week
    0.4 + 0.5 related

  • Dee Kelly Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.4 + 0.5 related

  • Matthew R Carter

    PRESIDENT

    Total calculated
    $397,774
    From this org
    $0
    From related orgs
    $366,242
    Other
    $31,532
    Hours/week
    0.4 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $331,242 related
    Bonus
    $0 + $35,000 related
    Other
    $0
    Deferred
    $0 + $12,200 related
    Nontaxable benefits
    $0 + $19,332 related
    Filer's total
    $0 + $397,774 related

  • Kimberly Dewoody

    TREASURER

    Total calculated
    $258,103
    From this org
    $0
    From related orgs
    $237,930
    Other
    $20,173
    Hours/week
    0.5 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $217,930 related
    Bonus
    $0 + $20,000 related
    Other
    $0
    Deferred
    $0 + $8,375 related
    Nontaxable benefits
    $0 + $11,798 related
    Filer's total
    $0 + $258,103 related

  • Dana Stayton

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Health or social club dues or initiation fees
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
COUNTRY CLUB DUES WERE PAID BY SOUTHWESTERN EXPOSITION AND LIVESTOCK SHOW ON BEHALF OF BRADFORD S. BARNES AND MATTHEW R. CARTER.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
19 July 2023
IRS schema version
2022v5.0
Source object
202342839349302109

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