Island Time Music Festival
- Assets
- $154.9k
- Revenue
- $31.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Hermitage, TN
- Founding
- 09/2017
- Data as of
- 12/2020
- EIN
- 81-3554790
Organization Overview
Island Time Music Festival is located in Hermitage, TN. The organization was established in 2017. According to its NTEE Classification (W12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Island Time Music Festival 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 12/2020, Island Time Music Festival generated $31.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $67.3k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
SELLING TICKETS FOR FESTIVAL HELD IN FEB TO IMPROVE LIFE IN ISLA MUJERES
Describe the Organization's Program Activity:
Part 3 - Line 4a
FORM 990 PAGE 3 PART 3 HELPED TO IMPROVE THE QUALITY OF LIFE OF THE PEOPLE IS ISLA MUJERES BY BUILDING SUPPORT OF THE COMMUNITY AND SUPPORTING THE LITTLE YELLOW SCHOOL
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shelee Cornilsen Coordinator | Trustee | 5 | $10,400 |
Amara Hall Treasurer | Officer | 5 | $6,600 |
Skip Biship Co-Chair | Officer | 5 | $0 |
Lindsay Lawler Sponsor Coordinator | Trustee | 5 | $0 |
Steve Martinez Housing Coordinator | Trustee | 5 | $0 |
Mark Dixon Director Of Operations | Trustee | 5 | $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 | $38,387 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,387 |
| 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 | -$7,277 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,110 |
| 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 | $756 |
| 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 | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $66,563 |
| Total functional expenses | $67,319 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,891 |
| Savings and temporary cash investments | $0 |
| 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 | $154,891 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $154,891 |
| 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 | $154,891 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Island Time Music Festival has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Impactassets Inc Bethesda, MD PURPOSE: GENERAL OPERATING SUPPORT | $10,000 |
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|---|---|---|
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Jason And Adriana West Foundation Cary, NC | $5,027,452 | $160,716 |
Cleveland High School Band Parents Association Garner, NC | $80,928 | $387,764 |
Stuff The Bus Of Southern Kentucky Foundation Inc Bowling Green, KY | $214,330 | $354,662 |
Juice Orange Mound Memphis, TN | $449,753 | $0 |
6 8 Foundation Alexandria, VA | $195,707 | $388,574 |
Serepta Nca Foundation Tr Hope, AR | $2,773,630 | $58,886 |