Valley Fest Inc
- Assets
- $421.5k
- Revenue
- $482.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Dunlap, TN
- Founding
- 05/2011
- Data as of
- 06/2022
- EIN
- 27-5044333
Organization Overview
Valley Fest Inc is located in Dunlap, TN. The organization was established in 2011. 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. Valley Fest 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, Valley Fest Inc generated $482.5k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 43.9% each year . All expenses for the organization totaled $97.5k during the year ending 06/2022. While expenses have increased by 24.1% 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 PRODUCE EVENTS FOR COMMUNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPITAL IMPROVEMENTS FOR COMMUNITY PARK
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eric Reed VP | OfficerTrustee | 1 | $0 |
Winston Picket Chairman | Officer | 5 | $0 |
Jakey Cooley Sec Treasurer | Officer | 5 | $0 |
Ronald Follett Member | Trustee | 1 | $0 |
Charlie Boring Member | Trustee | 1 | $0 |
Clint Huth Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,761 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $463,450 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $482,211 |
| Total Program Service Revenue | $0 |
| Investment income | $294 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $482,505 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,500 |
| 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 | $0 |
| 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 | $8,906 |
| Office expenses | $3,852 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $13,251 |
| 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 | $8,139 |
| Insurance | $1,586 |
| All other expenses | $59,314 |
| Total functional expenses | $97,548 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $153,367 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $258,609 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,544 |
| Total assets | $421,520 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $400,000 |
| Net assets with donor restrictions | $21,520 |
| 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 | $421,520 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Valley Fest Inc has recieved totaling $401,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Greater Chattanooga Inc Chattanooga, TN PURPOSE: COOPS CREEK GREENWAY AND VALLEY FEST PROPERTY DEVELOPMENT | $400,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Saudi Arabian U S Business Council Inc Vienna, VA | $3,546,346 | $2,319,248 |
Cityserve International Springfield, MO | $3,073,627 | $2,894,245 |
Nashville International Center For Empowerment Nashville, TN | $897,200 | $2,966,739 |
Afro-American Cultural Center Inc Charlotte, NC | $10,610,750 | $1,926,817 |
Conquistadores Del Cielo Williamsburg, VA | $361,595 | $2,072,328 |
The International School Of Charlottesvlle Inc Charlottesville, VA | $2,986,526 | $2,354,548 |
Tricycle Theater For Youth Bentonville, AR | $342,355 | $653,732 |
Souls Grown Deep Community Partnership Inc Atlanta, GA | $880,696 | $744,221 |
American Turkish Council Arlington, VA | $0 | $1,588,052 |
Brookside Irish Fest Inc Kansas City, MO | $1,030,000 | $1,022,564 |
National Black Arts Festival Inc Atlanta, GA | $1,026,989 | $1,260,210 |
Our Pride Encompasses Nashville Nashville, TN | $362,350 | $788,648 |