Magfest Inc
- Assets
- $371.2k
- Revenue
- $393.2k
- Investments
- $0.0
- Employees
- 9
- Location
- Baltimore, MD
- Founding
- 06/2015
- Data as of
- 02/2021
- EIN
- 46-1086258
Organization Overview
Magfest Inc is located in Baltimore, MD. The organization was established in 2015. According to its NTEE Classification (A31) the organization is classified as: Film & Video, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 02/2021, Magfest Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magfest 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 02/2021, Magfest Inc generated $393.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (18.7%) each year. All expenses for the organization totaled $895.9k during the year ending 02/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE THE PUBLIC ABOUT VIDEO GAME MUSIC, ART, AND HISTORY; TO PROMOTE PUBLIC APPRECIATION OF VIDEO GAME MUSIC, ART, AND HISTORY TO UNDERTAKE OTHER CHARITABLE PROJECTS, PROGRAMS, AND ACTIVITIES NOT INCONSISTENT WITH SECTION 501(C)(3) OF THE IRS CODE AND APPLICABLE STATE LAW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MUSIC AND GAMING FESTIVAL, IS MAGFEST INC'S FLAGSHIP EVENT, OCCURRING ANNUALLY EACH WINTER. MAGFEST'S LIBRARY OF HISTORIC GAMING CONTENT CONTAINS CONSOLE, ARCADE, AND NON-ELECTRONIC EXHIBITS DATING FROM 1971 TO THE PRESENT. THE MAGFEST EVENT GIVES ITS ATTENDEES THE OPPORTUNITY TO EXPERIENCE GAMING HISTORY. MAGFEST ALSO EXHIBITS VIDEO GAMES CREATED BY INDEPENDENT DEVELOPERS, GIVING THEM A CHANCE TO DEMONSTRATE THEIR WORK AND ACCOMPLISHMENTS. ALSO, MAGFEST FEATURES PERFORMANCES OF MUSIC, EITHER ARRANGED FROM OR INSPIRED, BY THE MUSIC FEATURED IN VIDEO GAMES. THESE PERFORMANCES PRESERVE THE ART-FORM OF VIDEO GAME MUSIC AND PROMOTE THE APPRECIATION OF IT. MAGFEST PROVIDES A ROBUST SCHEDULE OF PROGRAMMING WHICH INCLUDES INDUSTRIAL EDUCATION PRESENTATIONS FOR ATTENDEES. THE MAGFEST EVENT WAS CREATED AS AN ALTERNATIVE TO VIDEO GAME INDUSTRY EXHIBITIONS, AS THESE EXHIBITIONS PRIMARILY EXIST AS A FOR-PROFIT MEANS OF ADVERTISING. MAGFEST'S MAIN PURPOSE IS TO PROVIDE A VENUE IN WHICH ITS ATTENDEES CAN LEARN ABOUT THE HISTORY AND CULTURE OF GAMING.
MAGFEST, INC HOLDS SMALL EVENTS IN VARIOUS U.S. CITIES TO PROMOTE THE MAGFEST BRAND, AND TO ALSO BRING OUR MISSION CONTENT TO PEOPLE WHO CANNOT NORMALLY TRAVEL TO OUR FLAGSHIP WINTER EVENT. THESE EVENTS USUALLY FEATURE LIVE PERFORMANCES OF MUSIC ARRANGED FROM/INSPIRED BY VIDEO GAMES, AND ALSO PROVIDES CLASSIC HISTORICAL GAMING EXHIBITS FOR PEOPLE TO EXPERIENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Debra Rose Lenik Interim Executive Director | Officer | 40 | $64,297 |
Paul Birtel Executive Director | Officer | 40 | $48,560 |
Bunny Smith Secretary, Former | Trustee | 6 | $0 |
Jason Williams Secretary | Trustee | 10 | $0 |
Joel Attanasio Director | Trustee | 2 | $0 |
Dustin Peterson Director | Trustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $111,121 |
| Related organizations | $0 |
| Government grants | $78,210 |
| All other contributions, gifts, grants, and similar amounts not included above | $14,443 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $203,774 |
| Total Program Service Revenue | $186,593 |
| Investment income | $79 |
| 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 | $2,787 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $393,233 |
| 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. | $112,857 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $290,229 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $60,140 |
| Payroll taxes | $32,425 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $84,342 |
| Fees for services: Accounting | $11,314 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,734 |
| Advertising and promotion | $194 |
| Office expenses | $5,601 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $100,938 |
| Travel | $3,918 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $126,905 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,315 |
| Insurance | $11,495 |
| All other expenses | $0 |
| Total functional expenses | $895,919 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $357,601 |
| 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 | $0 |
| Net Land, buildings, and equipment | $6,863 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,695 |
| Total assets | $371,159 |
| Accounts payable and accrued expenses | $5,784 |
| 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 | $5,784 |
| 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 | $365,375 |
| Total liabilities and net assets/fund balances | $371,159 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Magfest Inc has recieved totaling $936.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $936 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Better Angels Society Inc Washington, DC | $29,814,085 | $9,108,547 |
Alcohol And Drug Abuse Services Inc Port Allegany, PA | $3,920,999 | $4,354,797 |
Free To Choose Network Erie, PA | $2,875,719 | $4,682,369 |
Philadelphia Film Society Philadelphia, PA | $7,572,689 | $2,864,072 |
Bryn Mawr Theater Film Institute Bryn Mawr, PA | $12,709,344 | $3,401,404 |
Earth Echo International Inc Washington, DC | $1,680,622 | $1,814,307 |
International Window Film Association Martinsville, VA | $402,908 | $1,103,619 |
The Scribe Video Center Inc Philadelphia, PA | $2,570,357 | $1,723,982 |
Magfest Inc Baltimore, MD | $371,159 | $393,233 |
Middleburg Film Festival Middleburg, VA | $254,170 | $817,838 |
Environmental Film Festival In The Nations Capital Washington, DC | $507,157 | $888,056 |
County Theater Inc Doylestown, PA | $8,646,433 | $1,369,542 |