Fairbanks Concert Association
- Assets
- $1.4m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Fairbanks, AK
- Founding
- 10/1982
- Data as of
- 06/2022
- EIN
- 92-0094139
Organization Overview
Fairbanks Concert Association is located in Fairbanks, AK. The organization was established in 1982. 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 06/2022, Fairbanks Concert Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fairbanks Concert Association 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 06/2022, Fairbanks Concert Association generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 15.8% each year . All expenses for the organization totaled $532.4k during the year ending 06/2022. While expenses have increased by 0.3% per year over the past 7 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
TO PRESENT, PROMOTE, AND SPONSOR ARTISTICALLY AND CULTURALLY DIVERSE PERFORMING ARTS EVENTS AND EDUCATIONAL OPPORTUNITIES OF THE HIGHEST QUALITY FROM STAGES AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOR THE BEGINNING OF 2021, FCA WAS STILL OPEN AND RUNNING EVEN IF THE COUNTRY WAS STILL IN LOCK DOWN WITH THE PANDEMIC. THE STAFF APPLIED FOR FEDERAL RELIEF FUNDING AND STARTED PLANNING THE 2021-22 CONCERT SEASON IN THE HOPES THAT COVID RESTRICTIONS WOULD LOOSEN UP BY THEN. IN AUGUST 2021, FCA DECIDED TO MOVE FORWARD WITH THE 2021-22 SEASON, IMPLEMENTING NEW COVID PROTOCOLS IN OUR VENUES IN AN EFFORT TO KEEP OUR PATRONS AND ARTISTS SAFE. FROM SEPTEMBER TO DECEMBER, WE WERE ABLE TO WELCOME JANE LYNCH & KATE FLANNERY "TWO LOST SOULS," ROYAL WOOD, CHRIS THILE, AND LUNASA WHO ALSO PERFORMED A SCHOOL SHOW. FURTHER PLANNING AND DEVELOPMENT CONTINUED ON OUR PARTNERSHIP WITH THE UNIVERSITY OF ALASKA FAIRBANKS AND THE NORTHERN ALASKA ENVIRONMENTAL CENTER IN PREPARATION FOR ARCTIC FEST, AN ART AND SCIENCE FESTIVAL IN SEPTEMBER 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mike Powers President | OfficerTrustee | 1 | $0 |
Chuck Lemke Member | Trustee | 1 | $0 |
Paul Krejci Vice President | OfficerTrustee | 1 | $0 |
Bill Schnabel Member | Trustee | 1 | $0 |
Paul Ewers Vice President | OfficerTrustee | 1 | $0 |
Joseph O'connor Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $341,352 |
| All other contributions, gifts, grants, and similar amounts not included above | $193,489 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $534,841 |
| Total Program Service Revenue | $233,799 |
| Investment income | $43,112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $716,794 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,528,546 |
| 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. | $66,719 |
| Compensation of current officers, directors, key employees. | $66,719 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $92,062 |
| Pension plan accruals and contributions | $3,892 |
| Other employee benefits | $16,348 |
| Payroll taxes | $13,647 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $33,732 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,765 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,768 |
| Travel | $5,727 |
| 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 | $5,731 |
| All other expenses | $33,594 |
| Total functional expenses | $532,350 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,309 |
| Savings and temporary cash investments | $284,819 |
| Pledges and grants receivable | $150,629 |
| 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 | $450 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $881,778 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,401,985 |
| Accounts payable and accrued expenses | $10,959 |
| Grants payable | $0 |
| Deferred revenue | $25,198 |
| 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 | $150,000 |
| Other liabilities | $0 |
| Total liabilities | $186,157 |
| Net assets without donor restrictions | $1,175,828 |
| Net assets with donor restrictions | $40,000 |
| 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 | $1,401,985 |