Fairbanks Summer Arts Festival
- Assets
- $2.3m
- Revenue
- $303.7k
- Investments
- $0.0
- Employees
- 7
- Location
- Fairbanks, AK
- Founding
- 11/1979
- Data as of
- 09/2021
- EIN
- 92-0072423
Organization Overview
Fairbanks Summer Arts Festival is located in Fairbanks, AK. The organization was established in 1979. According to its NTEE Classification (N11) the organization is classified as: Single Organization Support, under the broad grouping of Recreation & Sports and related organizations. As of 09/2023, Fairbanks Summer Arts Festival employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairbanks Summer Arts 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, Fairbanks Summer Arts Festival generated $303.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.3%) each year. All expenses for the organization totaled $321.7k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (6.4%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE PARTICIPANTS HIGHLY QUALIFIED GUEST ARTISTS WHO OFFER MULTI-DISCIPLINARY STUDY AND PERFORMANCE OPPORTUNITIES THAT INCREASE BOTH PERSONAL GROWTH AND ARTS APPRECIATION IN THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FSAF'S 43RD YEAR WAS ABOUT THREE QUARTERS THE SIZE OF A TYPICAL YEAR AS GUEST ARTISTS, REGISTRANTS AND VENUES SOUGHT TO CONTINUE REBUILDING IN THE MIDST OF THE EFFECTS OF COVID-19. WINTER EDITION SAW 170 REGISTRANTS PARTAKE IN 6 WORKSHOPS THAT SPANNED 5 DIFFERENT GENRES AND CELEBRATED REUNITING AROUND THE ARTS. THE SUMMER FEATURED 60 GUEST ARTISTS FROM ALASKA AND AROUND THE WORLD TEACHING WORKSHOPS AND OFFERING PERFORMANCES FOR OVER 700 REGISTRANTS. THE LATE-JULY FAIRBANKS SUMMER PROVIDED THE PERFECT BACKDROP FOR PEOPLE TO LEARN NEW SKILLS, IGNITE NEW ARTISTIC PASSIONS AND DEVELOP NEW RELATIONSHIPS THAT WOULD HELP CARRY THEM THROUGH THE LONG ALASKAN WINTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Gray Director | Trustee | 0.5 | $0 |
Joy Mcdougall Director | Trustee | 0.5 | $0 |
Tim Satre Director | Trustee | 0.5 | $0 |
Cathy Curby Director | Trustee | 0.5 | $0 |
Cheryll Berrong Director | Trustee | 0.5 | $0 |
Janverne Hnilinka Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,607 |
| Investment income | $63,036 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $5,036 |
| Net Income from Gaming Activities | $3,242 |
| Net Income from Sales of Inventory | -$1,305 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $303,652 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $81,532 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,357 |
| 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 | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $25,200 |
| 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 | $1,456 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $321,687 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,902 |
| Savings and temporary cash investments | $726 |
| 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 | $1,488 |
| Prepaid expenses and deferred charges | $6,104 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,291,248 |
| Total assets | $2,313,055 |
| Accounts payable and accrued expenses | $11,931 |
| 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 | $11,269 |
| Total liabilities | $23,200 |
| 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 |
| Total liabilities and net assets/fund balances | $2,289,855 |