Grand Teton Music Festival Inc
- Assets
- $22.0m
- Revenue
- $8.8m
- Investments
- $609.1k
- Employees
- 21
- Location
- Jackson, WY
- Founding
- 02/1970
- Data as of
- 12/2021
- EIN
- 23-7034152
Organization Overview
Grand Teton Music Festival Inc is located in Jackson, WY. The organization was established in 1970. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Grand Teton Music Festival Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Grand Teton Music 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, Grand Teton Music Festival Inc generated $8.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.1% each year . All expenses for the organization totaled $4.4m during the year ending 12/2021. While expenses have increased by 4.2% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
ENGAGE, ENTERTAIN, EDUCATE & INSPIRE OUR RESIDENT & SEASONAL COMMUNITIES THRU EXHILARATING MUSICAL EXPERIENCES OF ORCHESTRAL, CHAMBER & SOLO PERFORMANCES BY WORLD-CLASS ARTISTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GTMF SHARED EXHILARATING MUSICAL EXPERIENCES WITH A TOTAL AUDIENCE OF 17,000 THROUGH IN PERSON AND ONLINE PRESENTATIONS OF SYMPHONIC, CHAMBER MUSIC, AND NON-CLASSICAL PERFORMANCES TOGETHER WITH FREE EDUCATION AND COMMUNITY PROGRAMMING OVER THE COURSE OF A 7-WEEK SUMMER FESTIVAL AND WINTER PROGRAMMING.
HOUSING FOR MUSICIANS DURING SUMMER SEASON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donald Runnicles Music Director | Officer | 15 | $254,500 |
Emma Kail Executive Director | Officer | 60 | $215,111 |
Jeff Counts General Manager | 40 | $138,920 | |
Steffan Larson Director Of Finance And Admin. | 40 | $112,358 | |
Andrew Mahoney Dir. Community & Patron Engage | 40 | $108,788 | |
John Costello Co-Chairman | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Donald Runnicles Music Director | 12/30/20 | $127,100 |
Simon Woods Consulting | 12/30/20 | $113,750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $61,500 |
| Related organizations | $0 |
| Government grants | $506,780 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,253,836 |
| Noncash contributions included in lines 1a–1f | $167,104 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,822,116 |
| Total Program Service Revenue | $1,101,411 |
| Investment income | $471,920 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $534,451 |
| Net Gain/Loss on Asset Sales | $2,848,230 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,778,128 |
| 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. | $484,634 |
| Compensation of current officers, directors, key employees. | $72,695 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $405,633 |
| Pension plan accruals and contributions | $23,264 |
| Other employee benefits | $42,521 |
| Payroll taxes | $66,021 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,612 |
| Fees for services: Accounting | $19,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $53,397 |
| Fees for services: Investment Management | $46,492 |
| Fees for services: Other | $885,393 |
| Advertising and promotion | $338,406 |
| Office expenses | $230,757 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $63,542 |
| Travel | $221,273 |
| 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 | $354,475 |
| Insurance | $65,730 |
| All other expenses | $41,939 |
| Total functional expenses | $4,449,741 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,467,520 |
| Savings and temporary cash investments | $757,089 |
| Pledges and grants receivable | $674,351 |
| Accounts receivable, net | $24,764 |
| 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 | $7,366,593 |
| Investments—publicly traded securities | $11,066,888 |
| Investments—other securities | $609,133 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,966,338 |
| Accounts payable and accrued expenses | $49,272 |
| Grants payable | $0 |
| Deferred revenue | $850,532 |
| 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 | $74,233 |
| Total liabilities | $974,037 |
| Net assets without donor restrictions | $16,954,453 |
| Net assets with donor restrictions | $4,037,848 |
| 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 | $21,966,338 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Grand Teton Music Festival Inc has recieved totaling $9,500.
| Awarding Organization | Amount |
|---|---|
Morgenstern-Davis Family Foundation Teton Village, WY PURPOSE: GENERAL SUPPORT | $6,000 |
Krips Family Foundation Houston, TX PURPOSE: CULTURAL IMPROVEMENT & EDUCATION | $3,500 |
Endowment Analysis
| Beg. Balance | $2,577,274 |
| Ending Balance | $2,577,274 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jazz At Aspen-Snowmass Aspen, CO | $5,325,438 | $11,239,996 |
Grand Teton Music Festival Inc Jackson, WY | $21,966,338 | $8,778,128 |
Colorado Music Festival Boulder, CO | $2,219,616 | $3,012,496 |
Amp The Cause Denver, CO | $134,793 | $2,222,228 |
Strings Music Festival Steamboat Springs, CO | $9,630,765 | $2,301,723 |
Swallow Hill Music Association Denver, CO | $6,215,784 | $6,402,960 |
Youth On Record Denver, CO | $1,879,684 | $1,486,408 |
Yfc Inc Omaha, NE | $650,534 | $1,235,325 |
Parlando Incorporated Boulder, CO | $1,273,068 | $2,033,961 |
The Vail Jazz Foundation Inc Vail, CO | $1,001,642 | $1,276,123 |
Suzuki Association Of The Americas Boulder, CO | $1,674,140 | $882,329 |
Foundation Music School Inc Fort Collins, CO | $326,525 | $861,230 |