Great River Carnival Association
- Assets
- $425.4k
- Revenue
- $440.8k
- Investments
- $1.0k
- Employees
- 3
- Location
- Memphis, TN
- Founding
- 03/1936
- Data as of
- 07/2023
- EIN
- 62-0291355
Organization Overview
Great River Carnival Association is located in Memphis, TN. The organization was established in 1936. According to its NTEE Classification (C03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Environment and related organizations. As of 07/2023, Great River Carnival Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great River Carnival Association 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 07/2023, Great River Carnival Association generated $440.8k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $504.4k during the year ending 07/2023. 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
TO ENGAGE CONTINUOUSLY IN SUCH ACTIVITIES AND PROGRAMS WHICH PROMOTE THE DEVELOPMENT OF MEMPHIS AND THE MID-SOUTH, TO SUPPORT THE REGION'S COMMERCIAL AND INDUSTRIAL BASE, AND TO HOLD ANNUALLY A CARNIVAL CELEBRATION IN HONOR OF THE REGION AND ITS PRINCIPAL ASSET-THE MISSISSIPPI RIVER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXPENSES RELATE PRIMARILY TO PAGEANTS, BALLS, AND BANQUETS HELD DURING THE ANNUAL CELEBRATION OF CARNIVAL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ed Galfsky Executive Director | OfficerTrustee | 40 | $135,000 |
Hugh Mallory Director | OfficerTrustee | 0 | $0 |
Todd Brown Director | Trustee | 0 | $0 |
Curt Griffin Treasurer | OfficerTrustee | 0.5 | $0 |
Katherine Dobbs Chairman | OfficerTrustee | 0.5 | $0 |
Chris Tutor General Counsel | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $351,304 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,250 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $399,554 |
| Total Program Service Revenue | $40,810 |
| Investment income | $467 |
| 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 | $440,831 |
| 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 | $117,355 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,420 |
| Payroll taxes | $9,166 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,963 |
| Office expenses | $1,556 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $14,829 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,162 |
| Interest | $23 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,579 |
| Insurance | $6,601 |
| All other expenses | $79,721 |
| Total functional expenses | $504,392 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,233 |
| Savings and temporary cash investments | $28,371 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $268,727 |
| 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 | $12,060 |
| Net Land, buildings, and equipment | $6,731 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $69,268 |
| Total assets | $425,390 |
| Accounts payable and accrued expenses | $115,136 |
| Grants payable | $0 |
| Deferred revenue | $17,100 |
| 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 | $70,525 |
| Total liabilities | $202,761 |
| Net assets without donor restrictions | $222,629 |
| 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 | $425,390 |