In 2013, the fourth consecutive year of reported Fair financial losses, the L.A. County Fair Association CEO received nearly $900,000 in total compensation. Additionally during the four years of reported Fair Association losses, 2010-2013, Association Chief Executive James Henwood Jr. and four members of his executive team collected a combined $2.8 million in bonuses boosting their total compensation to $8.75 million.
For many years, the L.A. County Fair Association has been exempt from paying federal income tax specifically because it promotes the local agricultural industry. It operates on county-owned land and, according to tax filings, the Fair Association has received millions of dollars in government grants and other support from taxpayers again for promoting local agriculture. …show more content…
County Fair Association is being investigated by the County, State and Federal officials. The County Board of Supervisors L.A. Fair audit should be completed by the end of this month. In addition, U.S. Representative Norma Torres (D-Pomona) has asked the IRS and the state attorney general’s office to launch inquiries into whether the association’s tax exemption should be rescinded. Now, Assemblyman Freddie Rodriguez (D-Pomona) requested that the Joint Legislative Audit Committee examine the fair association’s finances and operations, including its use of public money.
Although, the LA. Fair Association’s pay and benefit package was significantly higher than any other California Fair Association, L.A. County Association executives have defended the pay levels as appropriate for their positions and said their financial losses merely reflect depreciation and interest expenses. They also said promoting agriculture remains a key part of the association’s activities, including education and vocational programs it offers and a 5-acre demonstration farm at the fairgrounds, known as the
For many years, the L.A. County Fair Association has been exempt from paying federal income tax specifically because it promotes the local agricultural industry. It operates on county-owned land and, according to tax filings, the Fair Association has received millions of dollars in government grants and other support from taxpayers again for promoting local agriculture. …show more content…
County Fair Association is being investigated by the County, State and Federal officials. The County Board of Supervisors L.A. Fair audit should be completed by the end of this month. In addition, U.S. Representative Norma Torres (D-Pomona) has asked the IRS and the state attorney general’s office to launch inquiries into whether the association’s tax exemption should be rescinded. Now, Assemblyman Freddie Rodriguez (D-Pomona) requested that the Joint Legislative Audit Committee examine the fair association’s finances and operations, including its use of public money.
Although, the LA. Fair Association’s pay and benefit package was significantly higher than any other California Fair Association, L.A. County Association executives have defended the pay levels as appropriate for their positions and said their financial losses merely reflect depreciation and interest expenses. They also said promoting agriculture remains a key part of the association’s activities, including education and vocational programs it offers and a 5-acre demonstration farm at the fairgrounds, known as the