Mayfest Inc
- Assets
- $677.2k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 4
- Location
- Fort Worth, TX
- Founding
- 05/1987
- Data as of
- 07/2022
- EIN
- 75-2160417
Organization Overview
Mayfest Inc is located in Fort Worth, TX. The organization was established in 1987. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 07/2022, Mayfest Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mayfest 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 07/2022, Mayfest Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $1.5m during the year ending 07/2022. While expenses have increased by 1.4% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE FOR WHICH THE CORPORATION HAS BEEN FORMED AND ITS CONTINUING MISSION, IS TO RAISE FUNDS FOR COMMUNITY NON-PROFIT PROGRAMS AND FOR CONTINUED IMPROVEMENT AND AWARENESS OF THE TRINITY RIVER AND SURROUNDING PARKS THROUGH A COMBINATION OF VOLUNTEERISM AND COMMUNITY RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAYFEST HOLDS AN OUTDOOR FESTIVAL, AS WELL AS OTHER EVENTS THROUGHOUT THE YEAR. IT PROVIDES SUPPORT TO THE CITY OF FORT WORTH PARK & RECREATION DEPARTMENT, STREAMS & VALLEYS, INC. AND THE JUNIOR LEAGUE OF FORT WORTH, INC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Basham Executive Director | Officer | 25 | $77,067 |
Randle Harwood Vice President | OfficerTrustee | 1 | $0 |
Teri Mcguill President | OfficerTrustee | 1 | $0 |
Natalie Martin Treasurer | OfficerTrustee | 1 | $0 |
Larry Kardaras Secretary | OfficerTrustee | 1 | $0 |
Jared Fuller Director | Trustee | 1 | $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 | $348,169 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $348,169 |
| Total Program Service Revenue | $1,423,427 |
| Investment income | $225 |
| 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 | $5,345 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,777,166 |
| 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. | $77,067 |
| Compensation of current officers, directors, key employees. | $26,973 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $192,609 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $3,893 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,428 |
| Office expenses | $74,718 |
| 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 | $3,038 |
| Insurance | $39,373 |
| All other expenses | $110,775 |
| Total functional expenses | $1,542,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $660,742 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,263 |
| 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 | $2,637 |
| Net Land, buildings, and equipment | $6,560 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $677,202 |
| Accounts payable and accrued expenses | $6,300 |
| 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 | $113,450 |
| Other liabilities | $8,731 |
| Total liabilities | $128,481 |
| Net assets without donor restrictions | $462,144 |
| Net assets with donor restrictions | $86,577 |
| 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 | $677,202 |
Grants Awarded
Over the last fiscal year, Mayfest Inc has awarded $289,900 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF FORT WORTH PARK AND RECREATION DEPARTMENT PURPOSE: PERMANENT PORT-A-LET ENCLOSURE IN TRINITY PARK, UPGRADED AUDIO SYSTEM FOR PARD, PARD ARCHIVING SOFTWARE SYSTEM | $63,000 |
Fort Worth, TX PURPOSE: ALL ABOARD TRAINING PROGRAM, KIDS IN THE KITCHEN PROGRAM WITH FWISD, PANCAKE PICNIC AT COOKS CHILDREN HOSPITAL | $61,900 |
Fort Worth, TX PURPOSE: PHYLLIS J TILLEY BRIDGE PROJECT PHASE I & II | $60,000 |
CITY OF FORT WORTH PARK AND RECREATION DEPARTMENT PURPOSE: GUARANTEED DISTRIBUTION | $35,000 |
Fort Worth, TX PURPOSE: GUARANTEED DISTRIBUTION | $35,000 |
Fort Worth, TX PURPOSE: GUARANTEED DISTRIBUTION | $35,000 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Mayfest Inc has recieved totaling $65,500.
| Awarding Organization | Amount |
|---|---|
Pangburn Foundation Chicago, IL PURPOSE: GENERAL OPERATING | $40,000 |
Edith Winther Grace Charitable Trust Chicago, IL PURPOSE: GENERAL | $25,000 |
Jp Morgan Chase Foundation New York, NY PURPOSE: GENERAL OPERATING SUPPORT | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fort Worth Art Association Fort Worth, TX | $70,573,501 | $16,694,058 |
Health Education Learning Project H E L P Fort Worth, TX | $21,809,617 | $21,715,181 |
Texas Advocacy Project Inc Austin, TX | $1,606,192 | $3,119,683 |
Efforts Of Grace Inc New Orleans, LA | $9,750,115 | $6,712,838 |
South Texas Institute For The Arts Corpus Christi, TX | $11,651,943 | $2,742,109 |
Society For Neuro-Oncology Houston, TX | $6,909,260 | $3,914,434 |
Gdiacc Foundation Inc Dallas, TX | $106,516 | $2,129,759 |
Love Station Inc Ponca City, OK | $4,976,987 | $2,048,106 |
Sea Turtle Inc South Padre Island, TX | $11,651,431 | $4,419,765 |
The Walls Project Baton Rouge, LA | $407,630 | $1,770,639 |
Match Midtown Arts & Theater Center Houston Houston, TX | $20,886,964 | $758,825 |
Mayfest Inc Fort Worth, TX | $677,202 | $1,777,166 |