North Carolina Apple Festival Inc
- Assets
- $270.7k
- Revenue
- $210.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Hendersonville, NC
- Founding
- 06/1993
- Data as of
- 12/2022
- EIN
- 23-7361399
Organization Overview
North Carolina Apple Festival Inc is located in Hendersonville, NC. The organization was established in 1993. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Apple 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, North Carolina Apple Festival Inc generated $210.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $197.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS TO PROMOTE THE AREA'S APPLE INDUSTRY BY PROVIDING SUPPORT TO LOCAL APPLE GROWERS AND ORGANIZING AN ANNUAL APPLE FESTIVAL ON THE LABOR DAY WEEKEND.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION(THE "NCAF")ESTIMATES THAT ITS ANNUAL APPLE FESTIVAL DRAWS IN EXCESS OF 230,000 VISITORS FROM ALL OVER THE US AND THAT THE FESTIVAL'S STREET FAIR INJECTS MORE THAN $10,000,000 INTO THE LOCAL ECONOMY ANNUALLY. IN SUPPORT OF LOCAL APPLE GROWERS, THE NCAF PROVIDES A FREE BOOTH AT THE FESTIVAL TO FOURTEEN APPLE GROWERS TO PROMOTE AND SELL FRESH APPLES, AS WELL AS OTHER APPLE PRODUCTS. THE NCAF ALSO PROVIDES AN ANNUAL SCHOLARSHIP TO LOCAL STUDENTS BASED ON THE STUDENT'S RESEARCH AND ORAL PRESENTATIONS ON THE APPLE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David E Nicholson Exec.dir-Resigned 6/23/22 | Trustee | 0 | $8,760 |
Colby Buchanan Asst. Treasurer | Officer | 2 | $0 |
Mark Shepherd 1st Vice President | Officer | 2 | $0 |
Josh English 2nd Vice President | Officer | 2 | $0 |
Vicki Gunning 3rd Vice President | Officer | 2 | $0 |
Renee Elrod Treasurer | Officer | 2 | $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 | $68,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $68,000 |
| Total Program Service Revenue | $137,730 |
| Investment income | $4,620 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $210,350 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,000 |
| 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. | $8,760 |
| Compensation of current officers, directors, key employees. | $2,978 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,507 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $132 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,820 |
| Office expenses | $5,304 |
| Information technology | $250 |
| Royalties | $0 |
| Occupancy | $13,805 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,461 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,835 |
| All other expenses | $15,075 |
| Total functional expenses | $197,746 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $66,187 |
| Savings and temporary cash investments | $56,466 |
| 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 | $846 |
| Investments—publicly traded securities | $145,261 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,900 |
| Other assets | $0 |
| Total assets | $270,660 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $270,660 |
| Total liabilities and net assets/fund balances | $270,660 |