Utah Arts Festival Foundation Inc
- Assets
- $291.5k
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 115
- Location
- Salt Lake City, UT
- Founding
- 07/1984
- Data as of
- 09/2023
- EIN
- 87-0365335
Organization Overview
Utah Arts Festival Foundation Inc is located in Salt Lake City, UT. The organization was established in 1984. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Utah Arts Festival Foundation Inc employed 115 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Utah Arts Festival Foundation 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 09/2023, Utah Arts Festival Foundation Inc generated $1.6m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $1.7m during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 8 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRODUCE THE ANNUAL UTAH ARTS FESTIVAL, FOR THE PURPOSE OF PROMOTING THE ARTS AND ENHANCING THE QUALITY OF LIFE IN UTAH
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTAH ARTS FESTIVAL IS THE STATE'S LARGEST, OUTDOOR, MULTI-DISCIPLINARY ARTS EVENT IN THE STATE PRESENTING NATIONALLY RENOWNED PERFORMING, VISUAL, LITERARY AND FILM ARTS DURING A FOUR DAY EVENT EACH JUNE. THE ARTIST MARKETPLACE FEATURES 160 VISUAL ARTISTS FROM ACROSS THE COUNTRY, THE PERFORMING ARTS PROGRAM SHOWCASES OVER 100 MUSICIANS AND PERFORMERS ON FIVE STAGES; THE LITERARY ARTS PROGRAM FEATURES WORKSHOPS AND READINGS; THE ART YARD GIVES OVER 6,000 CHILDREN INTERACTIVE OPPORTUNITIES TO ENGAGE IN THE ARTS; FEAR NO FILM FEATURES OVER 50 INDEPENDENT SHORT FILMS FROM AROUND THE WORLD; THE URBAN ARTS PROGRAM GIVES TEENS AND YOUNG ADULTS ACCESS TO THE ARTS COMMUNITY. THE UTAH ARTS FESTIVAL COMMISSIONS NEW WORKS IN MUSIC (CLASSICAL AND JAZZ) AND DANCE ANNUALLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Garrett Board Member | OfficerTrustee | 2 | $0 |
Kenneth W Ament Emeritus | Trustee | 2 | $0 |
Bruce Bell Emeritus | Trustee | 2 | $0 |
Jill Greenwood Board Member | Trustee | 2 | $0 |
Loren Micalizio Board Member | Trustee | 2 | $0 |
Rich Knickerbocker Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $29,991 |
| Related organizations | $0 |
| Government grants | $407,366 |
| All other contributions, gifts, grants, and similar amounts not included above | $226,006 |
| Noncash contributions included in lines 1a–1f | $88,021 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $663,363 |
| Total Program Service Revenue | $918,525 |
| Investment income | $15,499 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,076 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,607,849 |
| 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. | $259,024 |
| Compensation of current officers, directors, key employees. | $52,326 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $207,860 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $163,442 |
| 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 | $17,713 |
| Insurance | $28,810 |
| All other expenses | $148,869 |
| Total functional expenses | $1,657,136 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,790 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67 |
| 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 | $82,858 |
| Investments—publicly traded securities | $200,810 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $291,525 |
| Accounts payable and accrued expenses | $12,862 |
| 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 | $100,705 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $113,567 |
| Net assets without donor restrictions | $59,939 |
| Net assets with donor restrictions | $118,019 |
| 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 | $291,525 |