Madison Festivals Inc
- Assets
- $605.3k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 2
- Location
- Sun Prairie, WI
- Founding
- 04/1981
- Data as of
- 12/2023
- EIN
- 39-1366837
Organization Overview
Madison Festivals Inc is located in Sun Prairie, WI. The organization was established in 1981. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Madison Festivals Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Madison Festivals 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 12/2023, Madison Festivals Inc generated $1.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of 0.0% each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRODUCE AND DEVELOP EVENTS IN THE GREATER MADISON COMMUNITY THAT ENRICH OUR COMMUNITY BY BRINGING TOGETHER PEOPLE, BUSINESSES, AND CHARITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TASTE OF MADISON HELD SINCE 1983, THE TASTE OF MADISON IS MADISON FESTIVALS' FLAGSHIP EVENT. MADISON'S END-OF-SUMMER PICNIC WITH OVER 75 RESTAURANTS, THREE ENTERTAINMENT STAGES, AND OVER 25 BEVERAGE STANDS DRAWS OVER 250,000 PEOPLE TO THE CAPITOL SQUARE OVER SATURDAY AND SUNDAY OF LABOR DAY WEEKEND. TASTE OF MADISON HAS RAISED OVER $1.0 MILLION DOLLARS SINCE 1995 FOR LOCAL NON-PROFIT AND CHARITABLE ORGANIZATIONS.
MADISON MARATHON THE MADISON MARATHON AND HALF MARATHON IS HELD OVER VETERANS DAY WEEKEND IN EARLY NOVEMBER. ALL RACES BEGIN AND FINISH ON CAPITOL SQUARE. AN EXPO IS HELD ON THE FRIDAY AND SATURDAY PRIOR TO SUNDAY'S RACE DAY. THE MADISON MARATHON BENEFITS OVER 40 LOCAL NONPROFITS AND CHARITIES ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sara Klemme President | OfficerTrustee | 40 | $128,461 |
Elyse Smithback Chair | OfficerTrustee | 1 | $0 |
Jordan Bright Vice-Chair | OfficerTrustee | 1 | $0 |
Ashley Hein Secretary | OfficerTrustee | 1 | $0 |
Mark Anderson Treasurer | OfficerTrustee | 1 | $0 |
Alex Peirce Past Chair | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,551 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,644 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,195 |
| Total Program Service Revenue | $1,059,190 |
| Investment income | $4,998 |
| 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 | $291,140 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,406,168 |
| 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. | $128,461 |
| Compensation of current officers, directors, key employees. | $81,606 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $71,639 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,920 |
| Payroll taxes | $14,438 |
| Fees for services: Management | $84,500 |
| Fees for services: Legal | $696 |
| Fees for services: Accounting | $25,990 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $214,349 |
| Advertising and promotion | $89,986 |
| Office expenses | $139,526 |
| Information technology | $4,940 |
| Royalties | $0 |
| Occupancy | $8,580 |
| Travel | $17,877 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,125 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,867 |
| Insurance | $21,544 |
| All other expenses | $2,259 |
| Total functional expenses | $1,348,599 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,000 |
| Savings and temporary cash investments | $501,179 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $48,397 |
| 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 | $24,042 |
| Net Land, buildings, and equipment | $6,676 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $605,294 |
| Accounts payable and accrued expenses | $192,592 |
| Grants payable | $0 |
| Deferred revenue | $67,192 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $260 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $410,044 |
| Net assets without donor restrictions | $195,250 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $605,294 |