Albuquerque International Balloon Fiesta Inc
- Assets
- $16.1m
- Revenue
- $16.4m
- Investments
- $0.0
- Employees
- 35
- Location
- Albuquerque, NM
- Founding
- 12/1999
- Data as of
- 12/2022
- EIN
- 85-0250848
Organization Overview
Albuquerque International Balloon Fiesta Inc is located in Albuquerque, NM. The organization was established in 1999. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Albuquerque International Balloon Fiesta Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albuquerque International Balloon Fiesta 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 12/2022, Albuquerque International Balloon Fiesta Inc generated $16.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $13.6m during the year ending 12/2022. While expenses have increased by 6.2% per year over the past 8 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
ORGANIZE AND OPERATE THE ANNUAL ALBUQUERQUE INTERNATIONAL BALLOON FIESTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZE AND OPERATE THE ALBUQUERQUE INTERNATIONAL BALLOON FIESTA HELD FROM OCTOBER 7, 2022 THROUGH OCTOBER 15, 2022. ESTIMATED ATTENDANCE FOR THE EVENT WAS 828,800.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Judith Nakamura President | OfficerTrustee | 2.2 | $0 |
Neil Jackson Vice President | OfficerTrustee | 2.2 | $0 |
Richard Rice Treasurer | OfficerTrustee | 2.2 | $0 |
Mark Sullivan Secretary | OfficerTrustee | 2.2 | $0 |
Jr Allison Director | Trustee | 2.2 | $0 |
Tania Armenta Director | Trustee | 2.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elevate Tickets Ticketing | 12/30/22 | $349,590 |
Albuquerque Public Schools Buses | 12/30/22 | $445,951 |
Herrera Coaches Inc Buses | 12/30/22 | $241,254 |
Pacifica Italia Inc Dba Scarpa Caterin Catering | 12/30/22 | $221,171 |
Spectra Food Services & Hospitality Catering | 12/30/22 | $202,166 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $601,106 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,260 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $606,366 |
| Total Program Service Revenue | $13,303,143 |
| Investment income | $93,266 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$87,390 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,289,359 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $16,413,534 |
| 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. | $236,460 |
| Compensation of current officers, directors, key employees. | $118,230 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,206,847 |
| Pension plan accruals and contributions | $30,790 |
| Other employee benefits | $60,499 |
| Payroll taxes | $136,355 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $113,229 |
| Fees for services: Accounting | $18,791 |
| Fees for services: Lobbying | $35,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $19,117 |
| Fees for services: Other | $2,159,390 |
| Advertising and promotion | $178,828 |
| Office expenses | $2,149,795 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $296,386 |
| Travel | $21,926 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,781 |
| Interest | $3,200 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $350,819 |
| Insurance | $157,001 |
| All other expenses | $53,524 |
| Total functional expenses | $13,616,036 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,347,483 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,806 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $207,317 |
| Prepaid expenses and deferred charges | $8,836 |
| Net Land, buildings, and equipment | $7,114,456 |
| Investments—publicly traded securities | $2,366,276 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $38,485 |
| Total assets | $16,084,659 |
| Accounts payable and accrued expenses | $308,062 |
| Grants payable | $0 |
| Deferred revenue | $613,241 |
| 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 | $38,485 |
| Other liabilities | $0 |
| Total liabilities | $959,788 |
| Net assets without donor restrictions | $15,124,871 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $16,084,659 |