Norsk Hostfest Association
- Assets
- $142.0k
- Revenue
- $2.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Minot, ND
- Founding
- 10/1979
- Data as of
- 12/2023
- EIN
- 45-0353644
Organization Overview
Norsk Hostfest Association is located in Minot, ND. The organization was established in 1979. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Norsk Hostfest Association 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, Norsk Hostfest Association generated $2.7m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $2.5m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.5%) 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
RECEIPTS ARE IN CONNECTION WITH AN ANNUAL WEEK-LONG SCANDINAVIAN HERITAGE FESTIVAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NORSK HOSTFEST FALL FESTIVAL ATTENDED BY PEOPLE WORLDWIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ben Berg Director | Trustee | 36 | $0 |
Tim Mihalick Director | Trustee | 36 | $0 |
Clint Severson Director | Trustee | 36 | $0 |
Libby Claerbout Director | Trustee | 14 | $0 |
Duane Brekke Director | Trustee | 36 | $0 |
Grant Wentz Treasurer | OfficerTrustee | 36 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
William Morris Endeavor Entertainment Acting Agent Only-deposit For Entertainm | 12/30/22 | $358,750 |
Dude Inc Entertainer Fees | 12/30/22 | $250,000 |
Epic Events Consulting/management Fees | 12/30/22 | $220,000 |
Brockwell Us Inc Entertainment Fees | 12/30/22 | $127,914 |
Theatrical Media Services Inc Production Fees: Sound/lights | 12/30/22 | $123,240 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $889,566 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $500,302 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,389,868 |
| Total Program Service Revenue | $1,300,026 |
| Investment income | $20 |
| 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 | $2,689,914 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $116,774 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $11,540 |
| Fees for services: Management | $247,675 |
| Fees for services: Legal | $385 |
| Fees for services: Accounting | $17,578 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $211,927 |
| Office expenses | $4,075 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $87,747 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,900 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,104 |
| Insurance | $36,095 |
| All other expenses | $333,074 |
| Total functional expenses | $2,515,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,056 |
| Savings and temporary cash investments | $27,378 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,646 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $13,920 |
| Prepaid expenses and deferred charges | $13,345 |
| Net Land, buildings, and equipment | $2,642 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $141,987 |
| Accounts payable and accrued expenses | $865,102 |
| 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 | $390,000 |
| Other liabilities | $0 |
| Total liabilities | $1,255,102 |
| Net assets without donor restrictions | -$1,113,115 |
| 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 | $141,987 |