Milwaukee World Festival Inc
- Assets
- $107.5m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 1,431
- Location
- Milwaukee, WI
- Founding
- 08/1967
- Data as of
- 12/2020
- EIN
- 39-1049688
Organization Overview
Milwaukee World Festival Inc, operating under the name Summerfest, is located in Milwaukee, WI. The organization was established in 1967. 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 12/2021, Summerfest employed 1,431 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Summerfest 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 12/2020, Summerfest generated $5.8m 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 (27.9%) each year. All expenses for the organization totaled $21.1m during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF MILWAUKEE WORLD FESTIVAL, INC. IS TO PROMOTE AN UNDERSTANDING OF DIFFERENT ETHNIC CULTURES, THE HISTORIES AND TRADITIONS OF VARIOUS NATIONALITIES, HARMONY IN THE COMMUNITY, CIVIC PRIDE AND PROVIDE A SHOWCASE FOR THE PERFORMING ARTS, ACTIVITIES AND RECREATION FOR THE PUBLIC AND EMPLOYMENT OPPORTUNITES FOR THE YOUTH OF THE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUMMERFEST IS AN ANNUAL FESTIVAL IN THE MILWAUKEE METROPOLITAN AREA. IT IS THE WORLD'S LARGEST MUSIC FESTIVAL. TOTAL ATTENDANCE WAS 409,386 IN 2021.
THIS CATEGORY REPRESENTS ETHNIC AND CULTURAL EVENTS, MUSIC CONCERTS AND OTHER EVENTS INCLUDING WALKS/RUNS FOR CHARITY. TOTAL ATTENDANCE WAS 295,292 IN 2021.
THIS CATEGORY REPRESENTS CONSULTING, PRODUCTION, STAFFING AND MANAGEMENT SERVICES PROVIDED TO OTHER ENTITIES PRODUCING EVENTS.
THIS CATEGORY REPRESENTS SEASONAL OPERATING REVENUES AND EXPENSES THAT ARE NOT DIRECTLY ATTRIBUTED TO A SPECIFIC EVENT. ADDITIONALLY, IT REPRESENTS OTHER INCOME AND EXPENSE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Smiley President - Non Voting | Officer | 45 | $499,940 |
Sarah Pancheri VP Sales/marketing | Officer | 45 | $216,101 |
Robert Babisch VP Of Entertaitainment | Officer | 45 | $188,880 |
Susan Landry Vice President/cfo | Officer | 45 | $185,224 |
Frank Nicotera Cao And General Counsel | Officer | 45 | $180,399 |
Kevin Canady Senior Dir- Corporate Event Sales | Officer | 45 | $163,326 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pilot Boy Productions Inc Artist Performances | 12/30/21 | $1,420,946 |
Twenty One Pilots Llc Artist Performances | 12/30/21 | $1,245,000 |
Gundam Touring Services Us Llc Artist Performances | 12/30/21 | $2,305,000 |
Stagehands Inc Union Labor | 12/30/21 | $1,503,719 |
Green Day Touring Inc Artist Performances | 12/30/21 | $1,123,671 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,197,332 |
| Investment income | $25,123 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $8,696 |
| Net Rental Income | $192,697 |
| Net Gain/Loss on Asset Sales | $44,762 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,773,948 |
| 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. | $1,374,281 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,985,166 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $465,465 |
| Payroll taxes | $343,016 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,039 |
| Fees for services: Accounting | $25,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,834 |
| Fees for services: Other | $674,171 |
| Advertising and promotion | $327,202 |
| Office expenses | $144,730 |
| Information technology | $86,999 |
| Royalties | $0 |
| Occupancy | $2,344,154 |
| Travel | $7,666 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,051 |
| Interest | $997,480 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,299,120 |
| Insurance | $457,006 |
| All other expenses | $0 |
| Total functional expenses | $21,115,166 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $61,459 |
| Savings and temporary cash investments | $2,993,459 |
| Pledges and grants receivable | $1,939,605 |
| Accounts receivable, net | $2,205,178 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $144,723 |
| Prepaid expenses and deferred charges | $210,208 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,853,025 |
| Total assets | $107,459,917 |
| Accounts payable and accrued expenses | $1,650,155 |
| Grants payable | $0 |
| Deferred revenue | $35,590,653 |
| Tax-exempt bond liabilities | $15,656,916 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $13,973,618 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,674,659 |
| Total liabilities | $76,546,001 |
| 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 | $30,913,916 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Milwaukee World Festival Inc has recieved totaling $52,523.
| Awarding Organization | Amount |
|---|---|
Direct Supply Foundation Inc Milwaukee, WI PURPOSE: SENIORFEST DAY 2021 | $22,523 |
Hammes Family Foundation Inc Milwaukee, WI PURPOSE: GENERAL OPERATING | $20,000 |
American Endowment Foundation Hudson, OH PURPOSE: ARTS, CULTURE | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa County Recorders Association Ottumwa, IA | $2,929,223 | $39,789,803 |
Milwaukee World Festival Inc Milwaukee, WI | $107,459,917 | $5,773,948 |
University Musical Society Ann Arbor, MI | $42,227,393 | $9,895,639 |
Flint And Genesee Chamber Foundation Flint, MI | $674,613 | $5,341,436 |
Grant Park Orchestral Association Chicago, IL | $15,259,948 | $7,547,765 |
Sphinx Organization Inc Detroit, MI | $23,511,690 | $14,240,622 |
Detroit Jazz Festival Productions Inc Harper Woods, MI | $289,388 | $2,953,500 |
Detroit Jazz Festival Foundation Harper Woods, MI | $1,089,629 | $3,431,745 |
The Schubert Club St Paul, MN | $22,801,473 | $4,063,918 |
Minnetonka Youth Hockey Association Minnetonka, MN | $11,192,985 | $2,520,815 |
Chicago Sinfonietta Inc Chicago, IL | $3,675,444 | $3,506,738 |
Irving S Gilmore International Keyboard Festival Kalamazoo, MI | $14,163,453 | $2,605,010 |