Festival Of Light Inc
- Assets
- $498.6k
- Revenue
- $359.4k
- Investments
- $0.0
- Employees
- 53
- Location
- Chickasha, OK
- Founding
- 08/1993
- Data as of
- 02/2024
- EIN
- 73-1422395
Organization Overview
Festival Of Light Inc is located in Chickasha, OK. The organization was established in 1993. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 02/2024, Festival Of Light Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Festival Of Light 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 02/2024, Festival Of Light Inc generated $359.4k in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $313.6k during the year ending 02/2024. While expenses have increased by 16.4% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO CONDUCT, MANAGE AND PROMOTE A HOLIDAY LIGHTING PROGRAM ANNUALLY IN THE CITY OF CHICKASHA, OKLAHOMA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE A HOLIDAY LIGHTING PROGRAM FROM THANKSGIVING TO NEW YEAR'S EVE. THE PROGRAM RUNS NIGHTLY FROM 6:00 PM TO 10:00 PM ON WEEKNIGHTS AND 6:00 PM TO 11:00 PM ON WEEKENDS. THE PROGRAM INCLUDES MORE THAN 3.5 MILLION LIGHTS ILLUMINATING VARIOUS STRUCTURES WITHIN SHANNON SPRINGS PARK AS WELL AS VARIOUS DISPLAYS PLACED THROUGHOUT THE PARK AND INCLUDES COMPUTER ANIMATED SHOWS SET TO MUSIC. 40,000 VEHICLES AND OVER 250,000 VISITORS ARE EXPECTED THROUGH THE PARK EACH SEASON.
PROVIDE ATTRACTIONS OTHER THAN LIGHTS TO DRAW VISITORS (I.E. NATIVITY EVENT AND HORSE-DRAWN CARRIAGE RIDES)
PROVIDE A GIFT SHOP AND CONCESSION TO ATTRACT VISITORS TO THE HOLIDAY LIGHTING PROGRAM. THE GIFT SHOP AND CONCESSION FEATURES UNIQUE GIFTS, HOMEMADE CINNAMON ROLLS, AND HOT CHOCOLATE FOR THE ENJOYMENT OF THOSE ATTENDING THE PROGRAM. IT ALSO PROVIDES SHELTER FROM THE OUTSIDE AS VISITORS WALK THROUGH THE PARK. THE GIFT SHOP MAINTAINS THE SAME HOURS AS THE HOLIDAY LIGHTING PROGRAM IT SUPPORTS. NOTE: ALL EXPENSES ASSOCIATED FOR THIS ACHIEVEMENT ARE CAPTURED IN COST OF GOODS SOLD ON THE STATEMENT OF REVENUE
MARKET AND ATTRACT VISITORS TO THE ANNUAL HOLIDAY LIGHT SHOW. THE ORGANIZATION ADVERTISED WITH VARIOUS MEDIA INCLUDING 4 MAGAZINES, 4 NEWSPAPERS WITH 1 ONLINE PUBLICATION, AND ON THE RADIO. THE VARIOUS MEDIA OUTLETS REACHED HUNDREDS OF THOUSANDS OF PEOPLE ACROSS OKLAHOMA AND NORTH TEXAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Zack Bowles President El | OfficerTrustee | $0 | |
Jim Cowan Board Member | Trustee | $0 | |
Parker Denton Treasurer | OfficerTrustee | $0 | |
Rick Johnston Board Member | Trustee | $0 | |
Lewis Knisley Board Member | Trustee | $0 | |
Abby Laforge Board Member | Trustee | $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 | $145,937 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $145,937 |
| Total Program Service Revenue | $53,940 |
| Investment income | $5,217 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $126,706 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $27,624 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $359,424 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,558 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,708 |
| Office expenses | $312 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,235 |
| Travel | $0 |
| 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 | $83 |
| Insurance | $15,520 |
| All other expenses | $62,720 |
| Total functional expenses | $313,581 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $378,692 |
| Savings and temporary cash investments | $119,886 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $498,578 |
| Accounts payable and accrued expenses | $0 |
| 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 | $89,666 |
| Total liabilities | $89,666 |
| Net assets without donor restrictions | $408,912 |
| 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 | $498,578 |