Friends Of The Festival Inc
- Assets
- $1.3m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 11
- Location
- Chattanooga, TN
- Founding
- 11/1981
- Data as of
- 09/2023
- EIN
- 62-1112739
Organization Overview
Friends Of The Festival Inc is located in Chattanooga, TN. The organization was established in 1981. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Friends Of The Festival Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Festival 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 09/2023, Friends Of The Festival Inc generated $2.2m in total revenue. All expenses for the organization totaled $3.7m during the year ending 09/2023. While expenses have increased by 39.2% per year over the past 4 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
TO PRODUCE, MANAGE, AND OPERATE PREMIER EVENTS WITH THE RIVERBEND FESTIVAL AS ITS FLAGSHIP EVENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOLD ANNUAL RIVERBEND FESTIVAL AND OTHER EVENTS TO PROMOTE ECONOMIC DEVELOPMENT, COMMUNITY INVOLVEMENT & HARMONY IN THE CHATTANOOGA, TN AREA
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrew Zito Director | Trustee | 2 | $0 |
Rebecca F Browder President | OfficerTrustee | 2 | $0 |
Kim Swafford Secretary | OfficerTrustee | 2 | $0 |
Kc Dyer Director | Trustee | 2 | $0 |
John Sorrow Director | Trustee | 2 | $0 |
Thomas Lee Treasurer | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Stage Employees Local 140 Theatrical Stage Employees | 9/29/23 | $107,052 |
Cte Productions Llc Music Groups And Artists | 9/29/23 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $21,500 |
| Related organizations | $0 |
| Government grants | $25,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $716,020 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $762,520 |
| Total Program Service Revenue | $970,640 |
| Investment income | $20,167 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,365 |
| 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 | $398,003 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,162,708 |
| 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. | $100,000 |
| Compensation of current officers, directors, key employees. | $100,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $177,262 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,473 |
| Payroll taxes | $21,516 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20 |
| Fees for services: Accounting | $17,985 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,078,293 |
| Advertising and promotion | $35,632 |
| Office expenses | $80,738 |
| Information technology | $20,753 |
| Royalties | $0 |
| Occupancy | $795,303 |
| Travel | $10,844 |
| 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 | $16,157 |
| Insurance | $88,805 |
| All other expenses | $43,052 |
| Total functional expenses | $3,653,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,345 |
| Savings and temporary cash investments | $1,161,460 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $31,950 |
| 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 | $70,049 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,274,804 |
| Accounts payable and accrued expenses | $32,840 |
| 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 | $32,840 |
| Net assets without donor restrictions | $1,241,964 |
| 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 | $1,274,804 |