Germanfest Inc
- Assets
- $5.3m
- Revenue
- $220.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Muenster, TX
- Founding
- 05/2008
- Data as of
- 06/2022
- EIN
- 20-8963798
Organization Overview
Germanfest Inc is located in Muenster, TX. The organization was established in 2008. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, 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. Germanfest 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 06/2022, Germanfest Inc generated $220.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (29.4%) each year. All expenses for the organization totaled $419.3k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
GERMANFEST, INC MAINTAINS HERITAGE PARK AND MAKES IT AVAILABLE FOR COMMUNITY AND CULTURAL EVENTS CELEBRATING THE RICH GERMAN HERITAGE OF MUENSTER, TX. TWENTY-SIX SUCH EVENTS WERE HELD AT THE PARK DURING THE YEAR. THE ORGANIZATION ALSO SUPPORTS THE GERMANFEST FESTIVAL HELD AT THE PARK EACH YEAR, BRINGING IN OVER 5,000 VISITORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alvin Fuhrman President | 2 | $0 | |
Matt Sicking Vice President | 2 | $0 | |
Wayne Klement Director | 2 | $0 | |
Stan Endres Director | 2 | $0 | |
Mark Lippe Director | 2 | $0 | |
John Bartush Jr Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $125,397 |
| Interest on Savings | $81 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $95,173 |
| Total Revenue | $220,651 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $73,499 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $5,529 |
| Depreciation | $242,415 |
| Occupancy | $44,158 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $51,245 |
| Total operating and administrative expenses | $419,296 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $419,296 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,186 |
| Savings and temporary cash investments | $50,158 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $45 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $5,168,693 |
| Other assets | $0 |
| Total assets | $5,290,082 |
| Accounts payable and accrued expenses | $1,167 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $733,000 |
| Mortgages and other notes payable | $23,000 |
| Other liabilities | $0 |
| Total liabilities | $757,167 |
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