Patriotic Festival Ii Inc
- Assets
- $669.3k
- Revenue
- $102.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 07/2015
- Data as of
- 09/2020
- EIN
- 46-1601615
Organization Overview
Patriotic Festival Ii Inc is located in Virginia Beach, VA. The organization was established in 2015. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Patriotic Festival Ii 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 09/2020, Patriotic Festival Ii Inc generated $102.4k 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 (33.1%) each year. All expenses for the organization totaled $307.1k during the year ending 09/2020. 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
CELEBRATE PATRIOTISM AND SHOW APPRECIATION AND SUPPORT TO ACTIVE DUTY AND RETIRED MILITARY PERSONNEL AND THEIR FAMILIES DURING A THREE-DAY FESTIVAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SHOW PUBLIC SUPPORT FOR OUR MILITARY SERVICES, PATRIOTIC FESTIVAL, ALONG WITH THE CITY OF NORFOLK, VA AND SPONSORING BUSINESSES, PROVIDE CONCERTS AND ENTERTAINMENT AT AN ANNUAL THREE-DAY FESTIVAL AT THE NORFOLK WATERSIDE DISTRICT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ira Agricola President | OfficerTrustee | 15 | $128,600 |
Micheal Burton Treasurer | OfficerTrustee | 0.5 | $8,987 |
Emily Reynolds Director | Trustee | 0.5 | $0 |
Andy Stephenson Director | Trustee | 0.5 | $0 |
Glenn M Robertson Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $98,624 |
| Investment income | $76 |
| 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 | $102,397 |
| 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. | $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 | $40,199 |
| Fees for services: Legal | $17,269 |
| Fees for services: Accounting | $5,847 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $8,546 |
| Office expenses | $1,721 |
| Information technology | $988 |
| Royalties | $0 |
| Occupancy | $0 |
| 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 | $0 |
| Insurance | $2,127 |
| All other expenses | $161,817 |
| Total functional expenses | $307,084 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $668,093 |
| 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 | $1,234 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $669,327 |
| Accounts payable and accrued expenses | $20,000 |
| Grants payable | $0 |
| Deferred revenue | $279,580 |
| 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 | $299,580 |
| Net assets without donor restrictions | $369,747 |
| 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 | $369,747 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Patriotic Festival Ii Inc has recieved totaling $45,000.
| Awarding Organization | Amount |
|---|---|
United Way Of South Hampton Roads Norfolk, VA PURPOSE: GRANTS AWARDED | $45,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Army Emergency Relief Arlington, VA | $416,891,741 | $42,370,093 |
Disabled Veterans National Foundation Lanham, MD | $4,002,703 | $34,751,168 |
Navy-Marine Corps Relief Society Arlington, VA | $160,427,961 | $29,210,374 |
Military Officers Association Of America Alexandria, VA | $184,530,638 | $38,032,797 |
Military Order Of The Purple Heart Service Foundation Inc Annandale, VA | $2,548,586 | $20,677,650 |
Air Force Aid Society Inc Arlington, VA | $262,482,165 | $46,086,376 |
American Legion Bowling Green, KY | $1,050,755 | $11,898,405 |
The National Military Family Association Alexandria, VA | $8,448,648 | $9,411,080 |
Vietnam Veterans Of America Inc Silver Spring, MD | $22,711,920 | $10,930,074 |
United Service Organizations Inc Fort Myer, VA | $0 | $2,240,114 |
The Independence Fund Inc Charlotte, NC | $7,812,789 | $8,567,110 |
Marine Corps Association Quantico, VA | $17,818,262 | $7,455,788 |