Colorado Music Festival
- Assets
- $2.2m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 152
- Location
- Boulder, CO
- Founding
- 07/1976
- Data as of
- 12/2021
- EIN
- 84-0735716
Organization Overview
Colorado Music Festival is located in Boulder, CO. The organization was established in 1976. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Colorado Music Festival employed 152 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Colorado 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 12/2021, Colorado Music Festival generated $3.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $2.7m during the year ending 12/2021. While expenses have increased by 4.9% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE AND CONNECT COMMUNITY MEMBERS OF ALL AGES BY PROVIDING ACCESS TO THE BEST OF THE WORLD'S MUSIC THROUGH EDUCATION AND PERFORMANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COLORADO MUSIC FESTIVAL HELD AN IN-PERSON FESTIVAL AT CHAUTAUQUA AUDITORIUM. DUE TO CONTINUED COVID-19 CONCERNS, THE SIZE OF THE ORCHESTRA WAS REDUCED TO A MAXIMUM OF 55 PLAYERS, ALL EMPLOYEES AND GUEST ARTISTS WERE REQUIRED TO SHOW PROOF OF VACCINATION AND A TESTING PROTOCOL OF TWO TESTS PER WEEK WAS FOLLOWED BY ALL PARTICIPANTS. AUDIENCES WERE INITIALLY CONTAINED TO "BUBBLES" OF FOUR SEATS, SPACED BY SIX FEET ON EACH SIDE, BUT AS COUNTY HEALTH RESTRICTIONS EASED, MORE SEATS WERE OPENED. THE FESTIVAL WAS WELL-RECEIVED AND AN ARTISTIC SUCCESS, BOASTING FOUR WORLD-PREMIERE PERFORMANCES AND RECEIVING CRITICAL ACCLAIM IN TOP CLASSICAL MUSIC PUBLICATIONS ACROSS THE WORLD. TICKET SALES EXCEEDED THE CONSERVATIVE BUDGET EXPECTATIONS.
THE CENTER FOR MUSICAL ARTS CELEBRATED ITS 25TH ANNIVERSARY IN 2021, BOASTING A SUCCESSFUL FUNDRAISING EFFORT TO RAISE $250,000 TOWARDS CENTER IMPROVEMENTS, FACULTY RECRUITMENT AND PROGRAM ENHANCEMENTS. STUDENT PARTICIPATION CONTINUED IN A HYBRID OF ONLINE AND IN-PERSON LEARNING. WHILE MOST ENSEMBLES WERE NOT ABLE TO CONGREGATE UNTIL THE END OF THE YEAR, MOST OF THE STUDENTS CONTINUED WITH PRIVATE LESSON STUDY. BY THE END OF 2021, THE MAJORITY OF LESSONS WERE DELIVERED IN-PERSON WITH THE COUNTY'S MASK MANDATE STILL IN PLACE. ALL FACULTY TEACHING IN-PERSON WERE REQUIRED TO SHOW PROOF OF VACCINATION. STUDENT RECITALS RESUMED IN-PERSON AT THE END OF THE FALL/ WINTER SEMESTER AS WELL.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Mcguire Executive Director | Officer | 40 | $101,500 |
Anne Beer President | OfficerTrustee | 3 | $0 |
David Brunel Treasurer | OfficerTrustee | 2 | $0 |
John Krampf Secretary | OfficerTrustee | 2 | $0 |
Andrea Berry Trustee | Trustee | 1 | $0 |
Arlene Gerwin Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $382,858 |
| Related organizations | $0 |
| Government grants | $997,777 |
| All other contributions, gifts, grants, and similar amounts not included above | $791,208 |
| Noncash contributions included in lines 1a–1f | $1,383 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,171,843 |
| Total Program Service Revenue | $871,489 |
| Investment income | $4,249 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $28,581 |
| Net Income from Fundraising Events | -$64,318 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $652 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,012,496 |
| 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. | $101,500 |
| Compensation of current officers, directors, key employees. | $15,225 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,224,519 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $46,820 |
| Payroll taxes | $98,677 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,878 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $40,133 |
| Advertising and promotion | $125,302 |
| Office expenses | $0 |
| Information technology | $61,573 |
| Royalties | $0 |
| Occupancy | $197,747 |
| Travel | $6,577 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,203 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $54,353 |
| Insurance | $18,576 |
| All other expenses | $84,996 |
| Total functional expenses | $2,747,516 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $265,376 |
| Savings and temporary cash investments | $150,772 |
| Pledges and grants receivable | $263,939 |
| Accounts receivable, net | $84,844 |
| 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 | $32,036 |
| Net Land, buildings, and equipment | $1,196,870 |
| Investments—publicly traded securities | $225,779 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,219,616 |
| Accounts payable and accrued expenses | $156,340 |
| Grants payable | $0 |
| Deferred revenue | $73,077 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $379,417 |
| Net assets without donor restrictions | $1,328,925 |
| Net assets with donor restrictions | $511,274 |
| 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 | $2,219,616 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Colorado Music Festival has recieved totaling $142,004.
| Awarding Organization | Amount |
|---|---|
The Community Foundation Boulder, CO PURPOSE: General operating support, musician support, Heartstrings Program, and various others | $43,351 |
Community First Foundation Arvada, CO PURPOSE: GENERAL PURPOSE | $35,518 |
Fairfield Countys Community Foundation Inc Norwalk, CT PURPOSE: FOR GENERAL SUPPORT. | $25,000 |
Denver Foundation Denver, CO PURPOSE: GENERAL OPERATING SUPPORT | $21,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: ARTS, CULTURE & HUMANITIES | $17,050 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $85 |
Endowment Analysis
| Beg. Balance | $78,088 |
| Earnings | $7,761 |
| Admin Expense | $844 |
| Grants | $2,986 |
| Ending Balance | $82,019 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Jazz At Aspen-Snowmass Aspen, CO | $5,325,438 | $11,239,996 |
Grand Teton Music Festival Inc Jackson, WY | $21,966,338 | $8,778,128 |
Colorado Music Festival Boulder, CO | $2,219,616 | $3,012,496 |
Amp The Cause Denver, CO | $134,793 | $2,222,228 |
Strings Music Festival Steamboat Springs, CO | $9,630,765 | $2,301,723 |
Swallow Hill Music Association Denver, CO | $6,215,784 | $6,402,960 |
Youth On Record Denver, CO | $1,879,684 | $1,486,408 |
Yfc Inc Omaha, NE | $650,534 | $1,235,325 |
Parlando Incorporated Boulder, CO | $1,273,068 | $2,033,961 |
Santa Fe Concert Association Santa Fe, NM | $379,174 | $1,132,324 |
Piano Technicians Guild Incorporated Kansas City, KS | $3,439,012 | $1,235,937 |
The Vail Jazz Foundation Inc Vail, CO | $1,001,642 | $1,276,123 |