Folk School Of Fayetteville Inc
- Assets
- $167.0k
- Revenue
- $535.5k
- Investments
- $0.0
- Employees
- 2
- Location
- Fayetteville, AR
- Founding
- 05/2012
- Data as of
- 12/2022
- EIN
- 45-4758501
Organization Overview
Folk School Of Fayetteville Inc is located in Fayetteville, AR. The organization was established in 2012. 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 12/2022, Folk School Of Fayetteville Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Folk School Of Fayetteville 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, Folk School Of Fayetteville Inc generated $535.5k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.1% each year . All expenses for the organization totaled $860.0k during the year ending 12/2022. 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
BUILD COMMUNITY THROUGH EDUCATION AND CONCERTS/FESTIVALS THAT PROMOTE THE PERPETUATION OF TRADITIONAL AMERICAN AND WORLD MUSIC AND FOLK LIFE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BUILD COMMUNITY THROUGH EDUCATION AND CONCERTS/FESTIVALS THAT PROMOTE THE PERPETUATION OF TRADITIONAL AMERICAN AND WORLD MUSIC, CULINARY ARTS, AND FOLK LIFE.
A 501(C)3 ORGANIZATION WITH A MISSION TO CONNECT AND BUILD COMMUNITY THROUGH MUSIC AND FOOD. WE PRODUCE THE FAYETTEVILLE ROOTS FESTIVAL, OPERATE A HISTORIC MUSIC VENUE, THE ROOTS HQ, ON THE DOWNTOWN FAYETTEVILLE SQUARE, AND LEAD YEAR-ROUND MUSIC AND FOOD EDUCATION AND COMMUNITY PROGRAMMING IN NORTHWEST ARKANSAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeremy Gawthrop Culinary Dir | Trustee | $0 | |
Sterling Hamilton Director | Trustee | $0 | |
Bernice C Hembree Education Di | Trustee | $0 | |
Bryan C Hembree Music Direct | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $16,691 |
| Government grants | $7,483 |
| 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 | $24,174 |
| Total Program Service Revenue | $510,437 |
| Investment income | $0 |
| 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 | $535,544 |
| 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 | $324,553 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $76,742 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,867 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $41,359 |
| Advertising and promotion | $10,968 |
| Office expenses | $4,778 |
| Information technology | $8,263 |
| Royalties | $0 |
| Occupancy | $123,300 |
| Travel | $37,076 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $165,104 |
| Interest | $1,259 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,295 |
| Insurance | $5,883 |
| All other expenses | $15,796 |
| Total functional expenses | $859,983 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $32,633 |
| 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 | $9,320 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $125,057 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $167,010 |
| Accounts payable and accrued expenses | $235 |
| 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 | $150,000 |
| Other liabilities | $0 |
| Total liabilities | $150,235 |
| Net assets without donor restrictions | $16,775 |
| 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 | $167,010 |