Sitka Music Festival Inc
- Assets
- $4.2m
- Revenue
- $531.0k
- Investments
- $0.0
- Employees
- 5
- Location
- Sitka, AK
- Founding
- 04/1980
- Data as of
- 12/2023
- EIN
- 92-0075160
Organization Overview
Sitka Music Festival Inc is located in Sitka, AK. The organization was established in 1980. 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 12/2023, Sitka Music Festival Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sitka Music Festival 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 12/2023, Sitka Music Festival Inc generated $531.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $596.8k during the year ending 12/2023. While expenses have increased by 5.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRODUCE WORLD CLASS CONCERTS IN SITKA ALASKA
Describe the Organization's Program Activity:
Part 3 - Line 4a
COORDINATION, PROMOTION AND PRODUCTION OF A SERIES OF MUSICAL PERFORMANCES THROUGHOUT THE STATE OF ALASKA
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kari Lundgren President | OfficerTrustee | $0 | |
Elliot Bruhl Vice-Preside | OfficerTrustee | $0 | |
Petra Illig Secretary | OfficerTrustee | $0 | |
Jim Steffen Treasurer | OfficerTrustee | $0 | |
Russellyn Carruth Board Member | Trustee | $0 | |
Casey Carruth-Hinchey Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $32,380 |
| All other contributions, gifts, grants, and similar amounts not included above | $342,307 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $374,687 |
| Total Program Service Revenue | $141,921 |
| Investment income | $63 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,698 |
| 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 | $650 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $531,019 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $212,267 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $10,485 |
| Payroll taxes | $12,617 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $210 |
| Fees for services: Accounting | $14,953 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,750 |
| Advertising and promotion | $8,241 |
| Office expenses | $16,573 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $29,607 |
| Travel | $61,603 |
| 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 | $104,806 |
| Insurance | $20,302 |
| All other expenses | $0 |
| Total functional expenses | $596,776 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,689 |
| Savings and temporary cash investments | $29,719 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,286 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,590 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,054,864 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,157,148 |
| Accounts payable and accrued expenses | $14,581 |
| 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 | $14,581 |
| Net assets without donor restrictions | $4,142,567 |
| 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 | $4,157,148 |