Memphis In May International Festival Inc

Organization Overview

Memphis In May International Festival Inc is located in Memphis, TN. The organization was established in 1978. 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 07/2023, Memphis In May International Festival Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Memphis In May International 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 07/2023, Memphis In May International Festival Inc generated $8.3m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $11.7m during the year ending 07/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

MEMPHIS IN MAY INTERNATIONAL FESTIVAL, INC. WAS ORGANIZED FOR THE PURPOSE OF PROVIDING AND SUPPORTING RECREATIONAL, EDUCATIONAL, SOCIAL AND CULTURAL EVENTS AND ACTIVITIES, FOR THE CELEBRATION OF THE CITY OF MEMPHIS, PEOPLE OF MEMPHIS, AND THE PEOPLE OF OTHER CULTURES AND COUNTRIES OF THE WORLD BY INTRODUCING MEMPHIS TO THE WORLD AND THE WORLD TO MEMPHIS THROUGH THESE ANNUAL EVENTS AND ACTIVITIES THAT HONOR A SELECTED COUNTRY OF THE WORLD.

Describe the Organization's Program Activity:

PROVIDING AND SUPPORTING EVENTS AND ACTIVITIES FOR THE BEAL STREET MUSIC FESTIVAL (BSMF); PROVIDING AND SUPPORTING EVENTS AND ACTIVITIES FOR THE WORLD CHAMPIONSHIP BARBEQUE COOKING CONTEST (WCBCC); PROVIDING AND SUPPORTING EVENTS AND ACTIVITIES FOR THE SHELBY COUNTY CELEBRATION (SC) AND THE GREAT AMERICAN RIVER RUN (GARR); PROVIDING AND SUPPORTING INTERNATIONAL AND DIPLOMAT EVENTS AND ACTIVITIES THAT HONOR THE SELECTED COUNTRY (INTL)AND EDUCATION ACTIVITIES (ED), INCLUDING YEAR LONG SUPPORT FOR THE BSMF, WCBCC, GARR, INTL, EDUCATION AND VOLUNTEER EVENTS AND ACTIVITIES.


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Board, Officers & Key Employees

Name (title)Compensation
Leigh Shockey
Chairman
$0
Al Gossett
Chair Elect
$0
Doug Browne
Vice Chair
$0
Wayne Tabor
Treasurer
$0
Velvet Graham
Secretary
$0
Regena Bearden
Board Member
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$3,035,890
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$3,035,890
Total Program Service Revenue$5,027,205
Investment income $143,559
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income -$1,301
Net Gain/Loss on Asset Sales -$40,651
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $65,526
Miscellaneous Revenue$0
Total Revenue $8,286,107

Peer Organizations

Organization NameAssets
Memphis In May International Festival Inc
Memphis, TN
$8,286,107
Music City Inc
Nashville, TN
$9,378,368
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