Prescott Park Arts Festival Inc
- Assets
- $1.9m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 43
- Location
- Portsmouth, NH
- Founding
- 06/1983
- Data as of
- 12/2022
- 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 12/2022, Prescott Park Arts Festival Inc employed 43 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 12/2022, Prescott Park Arts Festival Inc generated $2.0m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.4% each year . All expenses for the organization totaled $1.5m during the year ending 12/2022. While expenses have increased by 0.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2022
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 | $129,750 |
John Tabor Chair | OfficerTrustee | 4 | $0 |
Elisabeth Robinson Co-Vice Chai | OfficerTrustee | 3 | $0 |
Michael Harrison Co-Vice Chai | OfficerTrustee | 3 | $0 |
Ken Bellevue Treasurer | OfficerTrustee | 3 | $0 |
Tyler Goodwin Secretary | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $726,647 |
| All other contributions, gifts, grants, and similar amounts not included above | $980,621 |
| Noncash contributions included in lines 1a–1f | $51,077 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,707,268 |
| Total Program Service Revenue | $69,288 |
| Investment income | $3,761 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$47,813 |
| Net Income from Fundraising Events | $19,272 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $60,903 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,952,136 |
| 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. | $129,750 |
| Compensation of current officers, directors, key employees. | $32,437 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $381,176 |
| Pension plan accruals and contributions | $5,366 |
| Other employee benefits | $12,967 |
| Payroll taxes | $41,746 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $61,924 |
| Office expenses | $49,924 |
| Information technology | $0 |
| Royalties | $8,808 |
| Occupancy | $15,333 |
| Travel | $1,273 |
| 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 | $70,437 |
| Insurance | $28,146 |
| All other expenses | $76,550 |
| Total functional expenses | $1,506,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,646 |
| Savings and temporary cash investments | $865,882 |
| 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 | $672,197 |
| Investments—publicly traded securities | $213,834 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $47,710 |
| Total assets | $1,888,269 |
| Accounts payable and accrued expenses | $9,587 |
| 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 | $9,587 |
| Net assets without donor restrictions | $1,830,972 |
| Net assets with donor restrictions | $47,710 |
| 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 | $1,888,269 |