Friends Of The Halstead Inc
- Assets
- $41.4k
- Revenue
- $328.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Fairhope, AL
- Founding
- Data as of
- 12/2022
- EIN
- 86-2430710
Organization Overview
Friends Of The Halstead Inc is located in Fairhope, AL. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of The Halstead 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, Friends Of The Halstead Inc generated $328.7k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 22.7% each year . All expenses for the organization totaled $327.1k during the year ending 12/2022. 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
THE GENERAL PURPOSES OF THE CORPORATION ARE EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL OR OTHER PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "INTERNAL REVENUE CODE"), WITH PRIMARY EMPHASIS ON PROMOTING THE USAGE OF THE HALSTEAD AMPHITHEATER ON THE COASTAL AL COMMUNITY COLLEGE FAIRHOPE CAMPUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PUTS ON A SEASONAL CONCERT SERIES AT THE HALSTEAD AMPHITHEATER IN FAIRHOPE, ALABAMA. THE ORGANIZATION PRODUCES AND PAYS FOR THE CONCERTS, WHICH ARE HELD EACH SPRING AND FALL. THE ACTIVITY IS FUNDED THROUGH TICKET SALES AND SPONSORSHIP DONATIONS. APPROXIMATELY 90% OF THE ORGANIZATION'S EXPENSES ARE RELATED TO PRODUCING THE SHOWS. 80% OF THE ORGANIZATION'S TIME IS SPENT BOTH PLANNING FOR AND RUNNING THE SHOWS. THE CONCERT SERIES FURTHERS THE ORGANIZATION'S EXEMPT PURPOSE BY PROVIDING LIVE MUSIC FOR THE COMMUNITY OF FAIRHOPE.
THE ORGANIZATION ALSO AWARDS THE JACOB HALL MEMORIAL MUSICAL GRANT WHICH IS INTENDED TO PROVIDE ACCESS TO MUSICALRESOURCES FOR ASPIRING MUSICIANS. EXAMPLES OF POTENTIALLY QUALIFYING NEEDS INCLUDE MONEY FOR INSTRUMENTS, EQUIPMENT, MUSIC LESSONS, COST OF MUSIC CAMPS OR RECITALS, MUSIC TUITION OR MUSIC BOOKS. A THIRD PARTY VENDOR INVOICE IS REQUIRED DETAILING THE PRICE OF THE MUSICAL NEED AND THE GRANT IS PAID DIRECTLY TO THE THIRD PARTY VENDOR. APPLICANTS FOR THE GRANT MUST SUPPLY REFERENCES AND GRANTS ARE LIMITED TO NO MORE THAN $2,000 PER ISSUANCE. THE GRANT IS FUNDED THROUGH A PORTION OF THE TICKET SALES FROM THE SEASONAL CONCERT SERIES RUN BY THE ORGANIZATION. GRANTS ARE ISSUED TWICE A CALENDAR YEAR AND RECIPIENTS ARE CHOSEN BY THE FRIENDS OF THE HALSTEAD. THE GRANT IS ADVERTISED ON THE WEBSITE OF THE CONCERT SERIES, WWW.LIVEATFIVEFAIRHOPE.COM. APPROXIMATELY 20% OF THE ORGANIZATION'S TIME IS SPENT ADMINISTERING THIS GRANT. THE GRANT FURTHERS THE ORGANIZATION'S EXEMPT PURPOSE BY HELPING TO MEET THE MUSICAL NEEDS OF MUSICIANS IN THE COMMUNITY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Cochran Executive Director | Trustee | 10 | $21,997 |
Clifton Mosteller President | Trustee | 0 | $0 |
Chesley Allegri Vice Chairman | Trustee | 0 | $0 |
Mandy Bezeredi Secretary | Trustee | 0 | $0 |
Nela Forney Treasurer | Trustee | 0 | $0 |
Eugenia Lanaux Director | Trustee | 0 | $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 | $92,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $92,000 |
| Total Program Service Revenue | $236,713 |
| 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 | $328,713 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,202 |
| Grants and other assistance to domestic individuals. | $1,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $21,997 |
| Compensation of current officers, directors, key employees. | $16,000 |
| 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 | $1,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $52,877 |
| Advertising and promotion | $34,984 |
| Office expenses | $600 |
| 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 | $14,162 |
| All other expenses | $5,404 |
| Total functional expenses | $327,116 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,429 |
| 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 | $41,429 |
| 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 | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $41,429 |
| Total liabilities and net assets/fund balances | $41,429 |