Outer Banks Seafood Festival
- Assets
- $89.7k
- Revenue
- $270.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Nags Head, NC
- Founding
- 11/2013
- Data as of
- 12/2022
- EIN
- 45-4382995
Organization Overview
Outer Banks Seafood Festival is located in Nags Head, NC. The organization was established in 2013. According to its NTEE Classification (S20) the organization is classified as: Community & Neighborhood Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Outer Banks Seafood Festival is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Outer Banks Seafood Festival generated $270.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $252.6k during the year ending 12/2022. While expenses have increased by 7.1% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE OUTER BANKS SEAFOOD FESTIVAL IS TO PROVIDE A FUN AND EDUCATIONAL EXPERIENCE PROMOTING, HONORING AND CELEBRATING OUR COASTAL SEAFOOD HERITAGE AND COMMUNITY. PROMOTE THE POSITIVE SOCIAL AND ECONOMIC IMPACT OF THE SEAFOOD INDUSTRY ON THE CITIZENS OF THE OUTER BANKS; EDUCATE THE PUBLIC ABOUT SEAFOOD AND ITS IMPORTANCE TO THE AREAS ECONOMY; PUBLICIZE THE WIDE VARIETY OF SEAFOOD INDIGENOUS TO NORTH CAROLINA AND THE OUTER BANKS AND PROVIDE THE OPPORTUNITY FOR PEOPLE TO ENJOY IT; BOOST TOURISM AND RECREATION ON THE OUTER BANKS IN THE NON-SUMMER MONTHS; ESTABLISH A SCHOLARSHIP PROGRAM FOR EDUCATIONAL PURSUITS RELATED TO THE SEAFOOD INDUSTRY; PROVIDE THE OPPORTUNITY FOR OUTER BANKS NON-PROFIT, CIVIC, CHURCH AND EDUCATIONAL ORGANIZATIONS TO RAISE FUNDS THROUGH PARTICIPATION IN THE FESTIVAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
A SEAFOOD FESTIVAL TO PROVIDE A FUN AND EDUCATIONAL EXPERIENCE PROMOTING, HONORING AND CELEBRATING OUR COASTAL SEAFOOD HERITAGE AND COMMUNITY.
A SEAFOOD FESTIVAL TO PROVIDE A FUN AND EDUCATIONAL EXPERIENCE PROMOTING, HONORING AND CELEBRATING OUR COASTAL SEAFOOD HERITAGE AND COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Hess Chairman | Trustee | $0 | |
Buster Nunemaker Vice Chair | Trustee | $0 | |
Mary Ellon Ballance Treasurer | Trustee | $0 | |
Karen Brown Secretary | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,000 |
| Total Program Service Revenue | $235,005 |
| Investment income | $8 |
| 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 | $270,013 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $44,052 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,635 |
| Advertising and promotion | $18,772 |
| Office expenses | $7,817 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $13,520 |
| All other expenses | $4,200 |
| Total functional expenses | $252,582 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,213 |
| Savings and temporary cash investments | $0 |
| 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 | $1,500 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $89,713 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $78 |
| 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 | $78 |
| Net assets without donor restrictions | $89,635 |
| 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 | $89,713 |