Prescott Park Arts Festival Inc
- Assets
- $1.4m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 41
- Location
- Portsmouth, NH
- Founding
- 06/1983
- Data as of
- 12/2021
- EIN
- 02-0370018
Organization Overview
Prescott Park Arts Festival Inc is located in Portsmouth, NH. The organization was established in 1983. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Prescott Park Arts Festival Inc employed 41 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prescott Park Arts Festival Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Prescott Park Arts Festival Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.7%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY FAMILY ENTERTAINMENT, PROMOTE ARTISTIC EXCELLENCE IN THE COMMUNITY AND MAINTAIN QUALITY PRESENTATIONS OF BOTH ENTERTAINMENT AND EDUCATIONAL EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL SUMMER PRODUCTIONS OF A MUSICAL PLAY, CONCERTS AND OTHER ARTS EVENTS.
YOUTH THEATER PROGRAM IS AN EDUCATIONAL SUMMER CAMP.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Courtney Perkins Executive Di | Officer | 40 | $125,000 |
Tyler Goodwin Secretary | OfficerTrustee | 3 | $0 |
John Tabor Chair | OfficerTrustee | 4 | $0 |
Michael Harrison Co-Vice Chai | OfficerTrustee | 3 | $0 |
Elisabeth Robinson Co-Vice Chai | OfficerTrustee | 3 | $0 |
Ken Bellevue Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $285,730 |
| All other contributions, gifts, grants, and similar amounts not included above | $734,777 |
| Noncash contributions included in lines 1a–1f | $6,249 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,020,507 |
| Total Program Service Revenue | $32,294 |
| Investment income | $171 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,795 |
| Net Income from Fundraising Events | $14,202 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $33,530 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,182,757 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,000 |
| Compensation of current officers, directors, key employees. | $31,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,081 |
| Pension plan accruals and contributions | $4,011 |
| Other employee benefits | $3,932 |
| Payroll taxes | $28,238 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $116 |
| Fees for services: Accounting | $28,740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $46,486 |
| Office expenses | $33,380 |
| Information technology | $0 |
| Royalties | $16,194 |
| Occupancy | $8,114 |
| Travel | $3,024 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,933 |
| Insurance | $21,404 |
| All other expenses | $46,880 |
| Total functional expenses | $1,100,736 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $113,094 |
| Savings and temporary cash investments | $332,419 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $726,954 |
| Investments—publicly traded securities | $210,566 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,377 |
| Total assets | $1,440,410 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,372,533 |
| Net assets with donor restrictions | $67,877 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,440,410 |
Grants Recieved
Over the last fiscal year, we have identified 10 grants that Prescott Park Arts Festival Inc has recieved totaling $101,847.
| Awarding Organization | Amount |
|---|---|
New Hampshire Charitable Foundation Concord, NH PURPOSE: For general/operating support, People for the Park | $71,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $12,700 |
French Foundation Pittsburgh, PA PURPOSE: GENERAL OPERATING | $5,000 |
Leopold & Ruth Friedman Foundation New York, NY PURPOSE: CHARITABLE | $2,600 |
Eastern Bank Charitable Foundation Lynn, MA PURPOSE: EXEMPT PURPOSE | $2,500 |
Agnes M Lindsay Trust Chelmsford, MA PURPOSE: CAMPERSHIPS | $2,500 |
Endowment Analysis
| Beg. Balance | $49,957 |
| Earnings | $9,911 |
| Admin Expense | $311 |
| Grants | $2,180 |
| Ending Balance | $57,377 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consensus Building Institute Inc Cambridge, MA | $9,333,296 | $7,559,086 |
Worcester Center For Performing Arts Inc Worcester, MA | $9,482,034 | $7,443,487 |
Northeast Organic Farming Association Of Vermont Richmond, VT | $5,671,372 | $3,655,887 |
Nantucket Dreamland Foundation Nantucket, MA | $29,229,556 | $2,255,041 |
Waterville Creates Waterville, ME | $6,458,613 | $3,294,325 |
Cotuit Center For The Arts Inc Cotuit, MA | $3,259,603 | $2,316,604 |
Catamount Film & Arts Co Saint Johnsbury, VT | $1,716,064 | $1,772,700 |
Newton Communications Access Center Inc Newton Highlands, MA | $4,732,809 | $1,832,398 |
Southern Vermont Arts Center Incorporated Manchester Village, VT | $10,724,937 | $1,500,211 |
Fine Arts Work Center In Provincetown Inc Provincetown, MA | $8,485,564 | $1,914,761 |
47 Palmer Inc Cambridge, MA | $700,773 | $1,617,574 |
Via Art Fund Inc Boston, MA | $2,151,414 | $1,463,562 |