Memphis Food & Wine Festival
- Assets
- $109.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 04/2016
- Data as of
- 12/2023
- EIN
- 47-5456623
Organization Overview
Memphis Food & Wine Festival is located in Memphis, TN. The organization was established in 2016. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, 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. Memphis Food & Wine Festival 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 12/2023, Memphis Food & Wine Festival generated $7.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (39.0%) each year. All expenses for the organization totaled $9.3k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (32.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
THE FESTIVAL IS USED AS A TOOL TO RAISE FUNDS FOR A CHARITY LOCATED IN THE MEMPHIS/SHELBY COUNTY, TENNESSEE COMMUNITY THAT IS SELECTED BY THE BOARD OF DIRECTORS EACH YEAR WHICH REPRESENTS THE ORGANIZATION'S ONLY PROGRAM.FROM TIME TO TIME THE FORMAL FESTIVAL IS NOT HELD FOR VARIOUS REASONS SUCH AS AVAILABILITY OF LOCAL, REGIONAL AND WORLD RENOWNED CHEFS, SECURING AN APPROPRIATE VENUE OR SPECIAL LOGISTICS REQUIRED FOR THE EVENT. IN 2023, A FORMAL EVENT WAS NOT HELD; THEREFORE, THE REVENUE FROM THE EVENT, CONTRIBUTIONS, EXPENSES AND THE LOCAL CHARITY GRANT ARE SIGNIFICANTLY LOWER THAN A YEAR IN WHICH THE EVENT IS HELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jose Gutierrez Director | 5 | $0 | |
Wally Joe Director | 1 | $0 | |
Albert Larocca Chairman/treasurer/directo | 5 | $0 | |
David Benson President | 10 | $0 | |
Robert Chimenti Secretary/director | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,167 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $1,691 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$5,479 |
| Other Revenue | $0 |
| Total Revenue | $7,379 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $6,882 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $2,417 |
| Total expenses | $9,299 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $109,248 |
| Other assets | $0 |
| Total assets | $109,248 |
| Total liabilities | $36,600 |
| Net assets or fund balances | $72,648 |
Grants Awarded
Over the last fiscal year, Memphis Food & Wine Festival has awarded $50,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MIDSOUTH FOODBANK PURPOSE: THE PURPOSE OF THIS GRANT IS TO SUPPORT MIDSOUTH FOODBANK IN THEIR MISSION TO ELIMINATE HUNGER IN THE MID-SOUTH BY PROVIDING ASSISTANCE TO HUNGRY FAMILIES. | $25,000 |
METHODIST HEALTHCARE FOUNDATION PURPOSE: THE PURPOSE OF THE GRANT WAS TO SUPPORT METHODIST HEALTHCARE FOUNDATION IN THEIR MISSION OF PROVIDING ORGAN TRANSPLANTS TO INDIVIDUALS IN THE COMMUNITY WHO MAY NOT HAVE THE FINANCIAL RESOURCES FOR THE LIFE-SAVING PROCEDURE. | $25,000 |