Downtown Events Group Inc
- Assets
- $237.5k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 4
- Location
- Des Moines, IA
- Founding
- 08/2005
- Data as of
- 12/2023
- EIN
- 75-3175987
Organization Overview
Downtown Events Group Inc is located in Des Moines, IA. The organization was established in 2005. 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 12/2023, Downtown Events Group Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downtown Events Group 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 12/2023, Downtown Events Group Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. While expenses have increased by 8.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PRODUCING ANNUAL LARGE-SCALE FESTIVALS AND EVENTS TO ENHANCE THE QUALITYOF LIFE, ECONOMIC ACTIVITY, AND CULTURAL DIVERSITY IN GREATER DES MOINES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WORLD FOOD AND MUSIC FESTIVAL THE FESTIVAL BEGAN IN 2005 AND IS A THREE-DAY EVENT WHICH CELEBRATES IOWA'S UNIQUE AND DIVERSE CULINARY TRADITIONS, AS WELL AS OFFERING LIVE MUSIC. THE EVENT OFFERS CULTURAL CAFES, LIVE ENTERTAINMENT, COOKING DEMONSTRATIONS, AND VARIOUS MARKETPLACES. ATTENDANCE HAS REACHED AS HIGH AS 75,000 OVER THE THREE-DAY EVENT. THE EXPENSES INCURRED REFLECT ALL COSTS INCURRED IN CARRYING OUT THE VARIOUS ASPECTS OF THE EVENT.
OTHER PROGRAM ACTIVITIES INCLUDE ACTIVATIONS, OUT-TO-LUNCH, BANNERS, SPARK DSM, WINTER MARKET, AND PROMENADE.
DSM BOOK FESTIVAL THE INAUGURAL EVENT IN 2019 FEATURED PRESENTATIONS AND BOOK SIGNINGS BY AUTHORS OF BOTH NATIONAL AND LOCAL ACCLAIM. IN ADDITION, WORKSHOPS AS WELL AS CHILDREN'S ENTERTAINMENT AND ACTIVITIES WERE PROVIDED, AS PART OF A "CELEBRATION OF THE WRITTEN WORD."
THE MARKET, WHICH DATES BACK TO 1976, IS HELD EACH SATURDAY FROM MAY TO OCTOBER. THE MARKET BOASTS OVER 320 VENDORS AND AVERAGES MORE THAN 35,000 IN ATTENDANCE EACH WEEK. IN ADDITION, AN INDOOR WINTER MARKET IS HELD OVER ONE WEEKEND IN NOVEMBER. THE NATIONALLY-RECOGNIZED MARKET INCLUDES A VARIETY OF VENDORS AND PRODUCT OFFERINGS AND IS PRODUCED, OPERATED, AND MANAGED BY THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Abbott Director | Trustee | 1 | $0 |
Alex Briggs Director | Trustee | 1 | $0 |
Amanda Weathers Director | Trustee | 1 | $0 |
Andrea Morse Director | Trustee | 1 | $0 |
Andy Moffitt Director | Trustee | 1 | $0 |
Ardis Kelley 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 | $1,472,914 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,472,914 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,472,914 |
| 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 | $1,209 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $131,244 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $221,102 |
| Advertising and promotion | $111,137 |
| Office expenses | $34,969 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,428 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $492 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $84,670 |
| Total functional expenses | $1,356,134 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $178,975 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,307 |
| 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 | $7,602 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,629 |
| Total assets | $237,513 |
| Accounts payable and accrued expenses | $320,543 |
| Grants payable | $0 |
| Deferred revenue | $38,448 |
| 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 | $358,991 |
| Net assets without donor restrictions | $0 |
| 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 | -$121,478 |
| Total liabilities and net assets/fund balances | $237,513 |