Strings Music Festival
- Assets
- $9.6m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 32
- Location
- Steamboat Springs, CO
- Founding
- 01/1989
- Data as of
- 09/2021
- EIN
- 84-1101995
Organization Overview
Strings Music Festival is located in Steamboat Springs, CO. The organization was established in 1989. 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 09/2021, Strings Music Festival employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Strings 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 09/2021, Strings Music Festival generated $2.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $2.3m during the year ending 09/2021. While expenses have increased by 1.2% per year over the past 6 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 PRESENT INNOVATIVE PROGRAMS OF DISTINCTIVE MUSIC IN AN INTIMATE AND FRIENDLY SETTING TO AUDIENCES OF ALL AGES, ENHANCING THE CULTURAL, EDUCATIONAL AND ENTERTAINMENT EXPERIENCES OF THE COMMUNITY OF NORTHWEST COLORADO AND ITS VISITORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCERTS OF CLASSICAL AND POPULAR CONTEMPORARY MUSIC ARE PRESENTED TO THE PUBLIC AND VISITORS OF NORTHWESTCOLORADO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elissa Greene Exec Director | Officer | 40 | $130,299 |
Phil Rodick Treasurer | OfficerTrustee | 1 | $0 |
Ted Kahn Chairexecutive Committee | OfficerTrustee | 1 | $0 |
Chris Diamond Vice Chairexec Committee | OfficerTrustee | 1 | $0 |
Leslie Morace Secretary | Officer | 40 | $0 |
David Lund Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $378,226 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,047,146 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,425,372 |
| Total Program Service Revenue | $782,284 |
| Investment income | $53,616 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $25,092 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $15,000 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $359 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,301,723 |
| 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. | $130,299 |
| Compensation of current officers, directors, key employees. | $52,119 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $544,898 |
| Pension plan accruals and contributions | $33,619 |
| Other employee benefits | $67,677 |
| Payroll taxes | $52,448 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,699 |
| Fees for services: Accounting | $4,632 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $583,093 |
| Advertising and promotion | $110,738 |
| Office expenses | $17,569 |
| Information technology | $39,721 |
| Royalties | $0 |
| Occupancy | $43,202 |
| 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 | $202,836 |
| Insurance | $31,013 |
| All other expenses | $132,552 |
| Total functional expenses | $2,257,031 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $165,430 |
| Savings and temporary cash investments | $1,208,164 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,331 |
| 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 | $28,168 |
| Net Land, buildings, and equipment | $5,552,163 |
| Investments—publicly traded securities | $2,619,211 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,298 |
| Total assets | $9,630,765 |
| Accounts payable and accrued expenses | $15,616 |
| Grants payable | $0 |
| Deferred revenue | $347,532 |
| 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 | $363,148 |
| Net assets without donor restrictions | $9,041,602 |
| Net assets with donor restrictions | $226,015 |
| 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 | $9,630,765 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Strings Music Festival has recieved totaling $65,000.
| Awarding Organization | Amount |
|---|---|
Peach Mott Foundation Inc Victoria, TX PURPOSE: CHARITABLE/EDUCATIONAL | $25,000 |
Gates Family Foundation Denver, CO PURPOSE: UNRESTRICTED | $20,000 |
Morrison Family Foundation Inc Mount Olive, NJ PURPOSE: 04/05/22CHECK #370CHARITABLE PURPOSES | $20,000 |
Endowment Analysis
| Beg. Balance | $2,720,000 |
| Earnings | $422,599 |
| Net Contributions | $8,863 |
| Ending Balance | $3,151,462 |
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 |