2011-08-24T12:26:45-05:00 2011-01-31 DIXON HUGHES GOODMAN LLP 4510 COX ROAD SUITE 200 GLEN ALLEN VA 230603394 990 2010-02-01 540616346 STATE FAIR OF VIRGINIA INC STAT 8049942800 13111 DAWN BLVD DOSWELL VA 23047 JODI L BUFFORD 8049942800 2011-08-22 1 JANET L BROCKLEHURST CPA 8042827636 2010 2016-02-24 21:20:13Z JODI L BUFFORD 13111 DAWN BLVD DOSWELL VA 23047 26252729 0 X WWW.STATEFAIRVA.ORG X 1989 VA STATE FAIR OF VIRGINIA, INC. PROMOTES THE ECONOMY OF VIRGINIA BY FOSTERING THE WISE AND PRUDENT USE OF NATURAL RESOURCES AND EDUCATING THE CONSUMING PUBLIC. 23 23 140 175 -342687 -342687 1182595 833623 5359350 4987964 -6462833 1102545 -505361 -321169 -426249 6602963 253715 241284 0 0 2087841 2149783 0 0 265818 8448889 11650499 10790445 14041566 -11216694 -7438603 111131158 108006687 89081567 91226640 22049591 16780047 X STATE FAIR OF VIRGINIA, INC. PROMOTES THE ECONOMY OF VIRGINIA BY FOSTERING THE WISE AND PRUDENT USE OF NATURAL RESOURCES AND EDUCATING THE CONSUMING PUBLIC. 0 0 3767701 107617 3658905 STATE FAIR OF VIRGINIA IS AN ANNUAL ELEVEN DAY EVENT WHICH ENCOURAGES AGRICULTURAL AND YOUTH EDUCATION PROGRAMS. ANNUAL ATTENDANCE IS APPROXIMATELY 200,000 WITH 5,000 COMPETING EXHIBITORS. 374634 69821 365384 THE STRAWBERRY HILL RACES IS AN ANNUAL ONE DAY STEEPLECHASE EVENT. ANNUAL ATTENDANCE IS APPROXIMATELY 15,000. 254749 11117 260884 THE MEADOW HIGHLAND GAMES IS AN ANNUAL TWO DAY EVENT THAT CELEBRATES CELTIC HERITAGE WITH A STRONG EMPHASIS ON MUSIC, DANCE, ATHLETIC COMPETITION. ANNUAL ATTENDANCE IS APPROXIMATELY 12,000 WITH 1,100 COMPETITORS. 3702878 52729 713321 OTHER PROGRAM EXPENSES CONSISTS MAINLY OF SCHOLARSHIPS THAT ARE AWARDED TO YOUTH IN THE STATE FAIR COMPETITION. FUNDS ARE PAID DIRECTLY TO ACCREDITED POST-SECONDARY EDUCATIONAL INSTITUTIONAL THAT THE WINNERS ATTEND. IN ADDITION, THE STATE FAIR INCURRED SIGNIFICANT COSTS FOR THE RE-LOCATION OF THE FAIR GROUNDS TO MEADOW FARMS AND DEBT SERVICE AND MAINTENANCE ON THE FACILITIES.THE SFVA ALSO MAINTAINS THE MUSEUM OF THE HORSE AS THE SFVA SITE IS ALSO THE ORIGINAL SITE OF MEADOW FARM, WHICH WAS THE BIRTHPLACE OF SECRETARIAT. 3702878 52729 713321 8099962 1 1 0 0 0 0 1 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 187 0 140 1 1 1 0 0 0 0 1 1 0 0 0 0 X 23 23 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 1 1 1 0 VA X JODI BUFFORD SENIOR DIRECTOR OF ACCOUNTING 8049942800 13111 DAWN BLVD DOSWELL VA 23047 G WILLIAM BEALE 0.10 X X 0 0 0 RICHARD CHICHESTER 0.10 X 0 0 0 THOMAS J BAYNE JR 0.10 X 0 0 0 RICHARD S BRAY 0.10 X 0 0 0 BRITTON L GLISSON 0.10 X 0 0 0 T WILLIAM DOWDY 0.10 X 0 0 0 RICHARD S JOHNSON 0.10 X 0 0 0 MICHELLE POOLE 0.10 X 0 0 0 JULIEN PATTERSON 0.10 X 0 0 0 JAMES C ROBERTS 0.10 X 0 0 0 CHRISTINE L TILLMAN 0.10 X 0 0 0 CLINTON V TURNER 0.10 X 0 0 0 WILLIAM S MISTR 0.10 X 0 0 0 JOHN B ADAMS JR 0.10 X X 0 0 0 DIXIE WATTS DALTON 0.10 X 0 0 0 BRUCE HAZELGROVE 0.10 X 0 0 0 PATRICIA LOUGHRIDGE 0.10 X 0 0 0 WILLIAM WASHINGTON 0.10 X 0 0 0 FRANK B ATKINSON 0.10 X 0 0 0 M TYSON GILPIN 0.10 X 0 0 0 JENNIFER L MCLELLAN 0.10 X 0 0 0 CHARLES W PAYNE JR 0.10 X 0 0 0 W LYLE PUGH SR 0.10 X 0 0 0 JODI L BUFFORD 50.00 X 82104 0 7967 CURRY A ROBERTS 60.00 X 212912 0 21219 DAVID P KING 40.00 X 110454 0 19232 JOHN S BRYAN 50.00 X 113799 0 7736 MICHAEL J FRITZSCHE 50.00 X 120637 0 13965 J CARLTON COURTER III 0.10 X 0 0 0 ROBERT M FELTS JR 0.10 X 0 0 0 RACHEL N GRAVES 0.10 X 0 0 0 BERYL B HERZOG 0.10 X 0 0 0 REGINALD H NELSON IV 0.10 X 0 0 0 JAMES R NICHOLS 0.10 X 0 0 0 639906 0 70119 4 0 1 0 ENGLISH CONSTRUCTION PO BOX P-700 LYNCHBURG VA 24505 CONSTRUCTION CONTRACTOR 3085876 HARRIS ELECTRIC 4910 W CLAY STREET RICHMOND VA 23230 ELECTRICAL SERVICES 150339 HOLIDAY SIGNS 11930 OLD STAGE RD CHESTER VA 23836 SIGN MANUFACTURER 137029 BOSCHEN MASONRY INC PO BOX C ASHLAND VA 23005 MASONRY SERVICES 101913 TROUTMAN SANDERS LLP PO BOX 933652 ATLANTA GA 311933652 LEGAL FIRM 101686 5 55770 777853 833623 STATE FAIR OF VIRGINIA 713990 3658905 3658905 FACILITY PARTNERSHIPS 713990 702791 702791 STRAWBERRY HILL RACES 711210 365384 365384 RICHMOND HIGHLAND GAME 711300 260884 260884 4987964 668248 668248 799860 1142547 -342687 -342687 -342687 18922292 18487995 434297 434297 434297 13445 55770 19224 -5779 -5779 OTHER MISCELLANEOUS IN 713990 16767 16767 MUSEUM OF THE HORSE 713990 10530 10530 27297 6602963 4998494 -342687 1113533 241284 241284 327856 229499 98357 1511312 907759 418424 185129 310615 310615 71147 846 70301 42905 42905 878447 878447 96127 5387 40740 50000 640458 638208 2250 422883 258177 150359 14347 529865 10766 519099 28395 23464 4931 3165300 3062637 102663 2610517 77000 2533517 157617 3286 154331 ENTERTAINMENT AND EXHIB 771336 771336 EQUIPMENT RENTAL 458103 411392 46711 SECURITY 425599 425599 REPAIRS AND MAINTENANCE 354970 294252 60718 TEMPORARY AND CONTRACT 212451 182643 29808 784379 556427 213860 14092 14041566 8099962 5675786 265818 1650974 1285763 1154215 876469 95024 84312 8587 20428 41845 67100 83474476 6880426 75524724 76594050 32631189 29053965 24600 24600 111131158 108006687 1763801 4536327 62929 76478 84615329 83672899 2639508 2940936 89081567 91226640 X 21355382 15688632 694209 1091415 22049591 16780047 111131158 108006687 X -7438603 2169059 X X 0 1 1 X 1 1 X 1666060 3730593 1987895 1182595 833623 9400766 4401958 5280699 5046116 5359350 4998494 25086617 6068018 9011292 7034011 6541945 5832117 34487383 0 0 0 34487383 943722 1229671 2365240 566878 668248 5773759 943722 1229671 2365240 566878 668248 5773759 -12034 -536173 -342687 -890894 37808 18809 1723 5465 16767 80572 7049548 10259772 9388940 6578115 6174445 39450820 0.87420 0.85610 0.14640 0.14760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24600 X X 0 750662 750662 24918956 29142839 3904300 50157495 2224155 1497373 726782 26437864 1478753 24959111 76594050 INTEREST RATE SWAP AGREEMENT 2940936 2940936 6602963 14041566 -7438603 2470487 -301428 2169059 -5269544 9907277 2470486 -301428 2169058 7738219 -1135256 -1135256 6602963 15176821 1142546 1142546 14034275 7291 7291 14041566 PART III, LINE 4: THE HISTORICAL COLLECTIONS MAINTAINED BY THE STATE FAIR OF VIRGINIA INCLUDE AN ANTIQUE HORSE DRAWN CARRIAGE AND ANTIQUE WORKS OF ART AND PHOTOGRAPHS. PROMOTING THE USE OF NATURAL RESOURCES AND EDUCATING THE PUBLIC IS A FUNCTION OF THE ORGANIZATION'S EXPEMT PURPOSE, AND THESE COLLECTIONS AID IN THIS MISSION. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JANUARY 31, 2011. FISCAL YEARS ENDING ON OR AFTER JANUARY 31, 2008 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. PART XI, LINE 8 - OTHER ADJUSTMENTS: UNREALIZED LOSS ON SWAP AGRREMENT PART XII, LINE 2D: UNREALIZED LOSS ON SWAP AGREEMENT PART XIII, LINE 2D: REPRESENTS $1,142,547 IN FACILITY RENTAL EXPENSES THAT ARE REFLECTED ON LINE 6B OF THE STATEMENT OF REVENUE. FORM 990 PAGE 12, PART XII, LINE 2B TEXT FROM AUDITED FINANCIAL STATEMENT FOOTNOTES REGARDING THE ORGANIZATION'S LIABILITY UNDER FIN 48: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE ORGANIZATION HAS DETERMINED THAT IT DOES NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JANUARY 31, 2011. FISCAL YEARS ENDING ON OR AFTER JANUARY 31, 2008 REMAIN SUBJECT TO EXAMINATION BY FEDERAL AND STATE TAX AUTHORITIES. BLACK TIE AND BOOTS 69215 55770 13445 17489 1735 69215 55770 13445 17489 1735 19224 -5779 1 SCHOLARSHIPS 39 52729 PRIZES AND AWARDS 1099 188555 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: SCHOLARSHIPS ARE AWARDED TO INDIVIDUALS HOWEVER, MONEY IS NOT PAID OUT TO INDIVIDUALS DIRECTLY, ONLY PAID OUT TO HIGHER LEARNING INSTITUTIONS. X X 0 0 0 0 0 0 0 0 0 CURRY A ROBERTS 212912 0 0 0 0 0 5437 0 15782 0 234131 0 0 0 INDUSTRIAL DEVELOPMENT AUTHORITIY OF THE COUNTY OF CAROLINE SERIES 2007G 541764705 2007-12-31 33670000 FOR CONSTRUCTION OF MEADOW PARK 0 0 0 INDUSTRIAL DEVELOPMENT AUTHORITIY OF THE COUNTY OF CAROLINE SERIES 2007H 541764705 2007-12-31 16120000 FOR CONSTRUCTION OF MEADOW PARK 0 0 0 33670000 1224764 32445236 2009 0 0 0 1 16120000 559981 15560019 2009 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 1 0 1 1 MORGAN KEEGAN FINANCIAL PRODUCTS 6.700000000000 0 0 0 0 0 0 1 0 0 0 0 JIM ROBERTS JIM IS A BOARD MEMBER OF SFVA AND IS A PARTNER AT TROUTMAN SANDERS LLP 65208 TROUTMAN SANDERS PROVIDES LEGAL SERVICES FOR THE STATE FAIR OF VIRGINIA 0 FORM 990, PART VI, SECTION B, LINE 11 THE TREASURER OF THE ORGANIZATION IS RESPONSIBLE FOR REVIEWING A DRAFT OF THE 990 PRIOR TO FINAL FILING. FORM 990, PART VI, SECTION B, LINE 15 STEVEN BRYAN, SR. DIRECTOR OF HUMAN RESOURCES ANNUALLY CONDUCTS A MARKET SURVEY USING MULTIPLE PUBLIC AND PRIVATE DATABASES TO REVIEW EACH POSITION. HE RECOMMENDS SALARY LEVELS FOR EACH POSITION BASED ON THIS DATA. CURRY ROBERTS, PRESIDENT, REVIEWS THIS RECOMMENDATION AND SUPPORTING DATA FOR EACH POSITION. THE CHAIRMAN OF THE BOARD REVIEWS THE RECOMMENDATION AND SUPPORTING DATA FOR THE PRESIDENT OF THE ORGANIZATION. THE LAST MARKET SURVEY WAS COMPLETED IN DECEMBER 2008. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST AND/OR CAN BE VIEWED/OBTAINED AT THE CORPORATE OFFICE OF THE ORGANIZATION. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,470,487. UNREALIZED LOSS ON SWAP AGRREMENT -301,428. TOTAL TO FORM 990, PART XI, LINE 5: 2,169,059. COMMITTEES IN CHARGE OF AUDIT PART XII, LINE 2C THE PROCESS FOR OVERSEEING THE AUDIT HAS NOT CHANGED FROM THE PRIOR YEAR. BOTH THE FINANCE COMMITTEE AND THE BOARD OF DIRECTORS WORK TOGETHER TO CHOOSE INDEPENDENT AUDITORS AND TO ENSURE THAT THE AUDIT IS OVERSEEN BY THOSE RESPONSIBLE FOR COMPILING FINANCIAL DATA. THE STATE FAIR OF VIRGINIA FOUNDATION 13111 DAWN BLVD DOSWELL VA 23047 341987072 EXISTS TO ASSIST THE STATE FAIR IN THEIR SCHOLARSHIP AND FAIR PROGRAMS VA 501(C)3 11A TYPE I N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0