Sombrero Festival Ltd
- Assets
- $1.1m
- Revenue
- $6.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Brownsville, TX
- Founding
- 06/1988
- Data as of
- 09/2021
- EIN
- 74-2485148
Organization Overview
Sombrero Festival Ltd is located in Brownsville, TX. The organization was established in 1988. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sombrero Festival Ltd 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 09/2021, Sombrero Festival Ltd generated $6.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (35.0%) each year. All expenses for the organization totaled $41.0k during the year ending 09/2021. 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
THIS NON-PROFIT ORGANIZATION IS ORGANIZED TO PROVIDE GREATER OPPORTUNITY FOR THE CITIZENS OF BROWNSVILLE TO PARTICIPATE MORE FULLY IN THE CHARRO DAYS FESTIVITIES BY SPONSORING ADDITIONAL FAMILY ORIENTED ACTIVITIES AND TO ENHANCE THE IMAGE OF BROWNSVILLE THROUGH PROJECTS SUCH AS BEAUTIFICATION, TOURISM AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED FESTIVE ENHANCEMENT TO THE BROWNSVILLE, TEXAS CHARRO DAYS CIVIC CELEBRATION BY SECURING A VENUE TO ACCOMMODATE MUSIC AND VENDORS ATTRACTING A BROAD SEGMENT OF OUR COMMUNITY, FOR THE PURPOSE OF DONATING ACQUIRED PROCEEDS TO NON-PROFIT ORGANIZATIONS, TOURISM, BEAUTIFICATION AND RECREATIONAL VENUES IN THE CITY OF BROWNSVILLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tommy Bermudez Secretary | OfficerTrustee | 8 | $0 |
Olga Gonzalez Chairman/ceo | OfficerTrustee | 8 | $0 |
Anika Aviles CFO | OfficerTrustee | 8 | $0 |
Roy DE Los Santos Jr COO | OfficerTrustee | 8 | $0 |
David Hanawa Director | Trustee | 8 | $0 |
Jack Loff Director | Trustee | 8 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,800 |
| Fundraising events | $700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,833 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,333 |
| Total Program Service Revenue | $0 |
| Investment income | $2,382 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$1,780 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,935 |
| 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 | $9,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $7,712 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $8,128 |
| Insurance | $5,254 |
| All other expenses | $0 |
| Total functional expenses | $40,988 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $224,953 |
| Savings and temporary cash investments | $609,053 |
| 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 | $265,204 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,099,210 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,099,210 |
| 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 | $1,099,210 |
Grants Awarded
Over the last fiscal year, Sombrero Festival Ltd has awarded $18,987 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BOYS SCOUTS TROOP 1 PURPOSE: SUPPORT COMM. ORGS | $7,000 |
VETERANS HS ESTUDIANTINA CENTINELA PURPOSE: SUPPORT COMM. ORGS. | $6,677 |
HANNA EARLY COLLEGE HIGH SCHOOL PURPOSE: SUPPORT COMM. ORGS | $5,310 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Albuquerque International Balloon Fiesta Inc Albuquerque, NM | $13,518,280 | $13,246,865 |
Gentilly Carnival Club Jefferson, LA | $3,366,886 | $4,740,044 |
Expo Center Of Taylor County Abilene, TX | $1,469,726 | $5,612,899 |
Arkansas Livestock Show Assoc Little Rock, AR | $4,870,203 | $5,931,539 |
Fairfield Village Community Inc Houston, TX | $4,878,144 | $5,460,075 |
International Association Of Venue Managers Inc Coppell, TX | $4,566,324 | $3,596,917 |
Petroleum Equipment Institute Tulsa, OK | $10,127,893 | $3,682,039 |
Austin County Fair Association Inc Bellville, TX | $2,038,389 | $3,840,084 |
Washington County Fair Association Brenham, TX | $1,247,052 | $3,262,876 |
Fort Bend County Fair Association Rosenberg, TX | $4,501,051 | $3,840,599 |
Waller County Fair Association Hempstead, TX | $2,847,770 | $3,290,806 |
Burleson County Fair Association Inc Caldwell, TX | $1,136,405 | $2,795,009 |