Crawford County Fair posts net loss of approximately $ 40,000
December 13 – The 2021 Crawford County Fair recorded an estimated net loss of around $ 40,000.
The figure is based on a preliminary income statement for fiscal 2021 presented at the Crawford County Fair Board of Directors annual meeting Thursday evening at the Hayfield Township Volunteer Fire Department.
The fair achieved a gross profit of $ 575,965.82 before expenses of $ 569,301.58, leaving a net income of $ 6,655.24 for the fiscal year from December 2020 to November of this year.
Kathy Klink, the treasurer of the board, said the income statement, however, does not reflect approximately $ 46,000 in fair bonuses paid to winners in various entry categories. The fair sent the checks to the winners.
The $ 46,000 in bonuses would leave the fair with a net loss of about $ 40,000 for the year, she said.
“We’re happy to be nearing a break-even point (for the year),” Fair board chairman Dean Maynard told the Tribune.
The nonprofit fair has about $ 300,000 – $ 197,707.89 in checks and $ 109,900 in savings, Klink said.
It takes about $ 250,000 per year to start the fair.
The fair earns money from admissions and passes as well as ticket sales for major grandstand entertainment such as concerts and pulling trucks and tractors. These funds are then used to carry out repairs and improvements to buildings and grounds as well as to finance the start of the fair the following year.
The fair received $ 186,000 from Crawford County to make up for lost revenue due to the COVID-19 pandemic.
In April, the county commissioners and the fair’s board of directors waived the daily admission fee of $ 5 to the fair this year because there had been no concerts or rides due to the pandemic. The county also paid the fees of food vendors for businesses based in Crawford, Erie, Warren, Venango and Mercer counties to attract them to the fair.
In an effort to keep costs down, the board is working to renegotiate the remaining three years of its ride contract with Powers & Thomas Midway Entertainment. He has three years left on the contract at a cost of $ 130,000 each year. The salon’s contract with Powers & Thomas was suspended both in 2020 and this year by mutual agreement due to the pandemic.
Keith Gushard can be reached at (814) 724-6370 or by email at firstname.lastname@example.org.