Festival Center Inc
- Assets
- $8.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Washington, DC
- Founding
- 06/1987
- Data as of
- 12/2023
- EIN
- 52-1499111
Organization Overview
Festival Center Inc is located in Washington, DC. The organization was established in 1987. According to its NTEE Classification (P28) the organization is classified as: Neighborhood Centers, under the broad grouping of Human Services and related organizations. As of 12/2023, Festival Center Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Festival Center 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, Festival Center Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $1.7m during the year ending 12/2023. While expenses have increased by 10.9% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH HOSPITALITY, EDUCATION, SPIRITUAL DEVELOPMENT, AND PRACTICE, THE FESTIVAL CENTER SERVES AS A GENERATIVE SOURCE FOR PEOPLE TO STAND AGAINST ALL FORMS OF OPPRESSION AND STRIVE FOR A JUST WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FESTIVAL CENTER PROVIDES PROGRAMS AND FACILITIES FOR ACTIVISTS, ARTISTS, PEOPLE OF FAITH AND NO FAITH, SEEKERS, AND MISSION-DRIVEN GROUPS STANDING AGAINST OPPRESSION AND STRIVING FOR A JUST WORLD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William R Mefford Jr Executive Dir. | Officer | 40 | $94,000 |
Edmund D Cooke Jr Chairman | OfficerTrustee | 1 | $0 |
Carol Petrie Vice President | OfficerTrustee | 1 | $0 |
Sandra Miller Secretary | OfficerTrustee | 1 | $0 |
David Garcia Treasurer | OfficerTrustee | 1 | $0 |
Jim Edmonds Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,058,649 |
| Noncash contributions included in lines 1a–1f | $10,959 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,058,649 |
| Total Program Service Revenue | $408,769 |
| Investment income | $1,243 |
| 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 | $1,468,661 |
| 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. | $94,000 |
| Compensation of current officers, directors, key employees. | $18,800 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $436,313 |
| Pension plan accruals and contributions | $8,755 |
| Other employee benefits | $42,946 |
| Payroll taxes | $39,603 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $304 |
| Fees for services: Accounting | $35,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $19,876 |
| Fees for services: Investment Management | $1,827 |
| Fees for services: Other | $142,908 |
| Advertising and promotion | $958 |
| Office expenses | $30,040 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $20,434 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $263,088 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $230,543 |
| Insurance | $28,818 |
| All other expenses | $74,599 |
| Total functional expenses | $1,724,921 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $235,519 |
| Savings and temporary cash investments | $298,130 |
| Pledges and grants receivable | $279,278 |
| Accounts receivable, net | $95,129 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,730 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,239 |
| Net Land, buildings, and equipment | $7,400,940 |
| Investments—publicly traded securities | $82,615 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,444,580 |
| Accounts payable and accrued expenses | $43,541 |
| 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 | $4,705,443 |
| Unsecured mortgages and notes payable | $99,193 |
| Other liabilities | $34,032 |
| Total liabilities | $4,882,209 |
| Net assets without donor restrictions | $3,293,532 |
| Net assets with donor restrictions | $268,839 |
| 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 | $8,444,580 |