North Carolina Seafood Festival Inc Fund
- Assets
- $302.3k
- Revenue
- $284.1k
- Investments
- $0.0
- Employees
- 3
- Location
- Morehead City, NC
- Founding
- 12/1998
- Data as of
- 12/2021
- EIN
- 56-1781945
Organization Overview
North Carolina Seafood Festival Inc Fund is located in Morehead City, NC. The organization was established in 1998. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, North Carolina Seafood Festival Inc Fund employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Seafood Festival Inc Fund 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 12/2021, North Carolina Seafood Festival Inc Fund generated $284.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $170.3k during the year ending 12/2021. 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
THE ORGANIZATION'S PRIMARY EXEMPT FUNCTION IS TO PROMOTE THE POSITIVE SOCIAL AND ECONOMIC IMPACT OF THE SEAFOOD INDUSTRY ON THE CITIZENS OF NORTH CAROLINA AND TO EDUCATE THE PUBLIC ABOUT SEAFOOD AND ITS IMPORTANCE TO THE STATE'S ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING THE POSITIVE SOCIAL AND ECONOMIC IMPACT OF THE SEAFOOD INDUSTRY ON THE CITIZENS OF NORTH CAROLINA AND EDUCATED THE PUBLIC ABOUT SEAFOOD AND ITS IMPORTANCE TO THE ECONOMY IN NORTH CAROLINA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kirby Sloan Chair Elect | OfficerTrustee | $0 | |
Billy Taylor Secretary | OfficerTrustee | $0 | |
Kenneth Riley Chair | OfficerTrustee | $0 | |
Bob Sherwell Treasurer | OfficerTrustee | $0 | |
George Ballou Director | Trustee | $0 | |
Jeremy Dickinson Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $183,918 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,576 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $200,494 |
| Total Program Service Revenue | $0 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $62,992 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $284,089 |
| 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 | $74,091 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $5,796 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,620 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,330 |
| Office expenses | $3,599 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,046 |
| Travel | $80 |
| 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 | $795 |
| Insurance | $0 |
| All other expenses | $5,871 |
| Total functional expenses | $170,334 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $132,433 |
| Savings and temporary cash investments | $134,101 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,219 |
| 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 | $2,584 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $302,337 |
| Accounts payable and accrued expenses | $1,816 |
| 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 | $1,816 |
| 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 | $300,521 |
| Total liabilities and net assets/fund balances | $302,337 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Liberty Bowl Festival Assn Memphis, TN | $2,194,602 | $10,839,086 |
Printing United Alliance Fairfax, VA | $29,361,359 | $6,023,644 |
Cullasaja Club Inc Highlands, NC | $18,372,890 | $6,912,030 |
National Automatic Merchandising Association Arlington, VA | $9,038,730 | $6,619,737 |
State Agricultural & Mechanical Society Of South Carolina Columbia, SC | $23,287,816 | $9,715,530 |
American Peanut Council Inc Alexandria, VA | $2,565,849 | $4,863,109 |
Friends Of The Festival Inc Chattanooga, TN | $2,789,360 | $3,355,227 |
Norfolk Festevents Ltd Norfolk, VA | $2,813,598 | $4,090,710 |
National D-Day Memorial Foundation Ltd Bedford, VA | $18,908,429 | $4,372,645 |
Sunbelt Agricultural Exposition Inc Moultrie, GA | $986,541 | $2,489,467 |
Fall For Greenville Inc Greenville, SC | $697,819 | $2,086,193 |
Virginia Beach Events Unlimited Inc Virginia Beach, VA | $1,283,401 | $2,894,814 |