Festival In The Park Inc
- Assets
- $337.7k
- Revenue
- $355.4k
- Investments
- $0.0
- Employees
- 14
- Location
- Charlotte, NC
- Founding
- 03/1968
- Data as of
- 12/2023
- EIN
- 56-6087310
Organization Overview
Festival In The Park Inc is located in Charlotte, NC. The organization was established in 1968. According to its NTEE Classification (A20) the organization is classified as: Arts & Culture, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Festival In The Park Inc employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Festival In The Park 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 12/2023, Festival In The Park Inc generated $355.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $332.5k during the year ending 12/2023. While expenses have increased by 0.4% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
FESTIVAL IN THE PARK BRINGS THE COMMUNITY TOGETHER THROUGH FREE, FAMILY- FRIENDLY, MEMORABLE AND INCLUSIVE EXPERIENCES IN VISUAL AND PERFORMING ARTS. OUR NON-PROFIT HONORS THE HISTORY AND HERITAGE OF OUR SIGNATURE EVENT, THE FESTIVAL IN THE PARK, THROUGH YEAR-LONG ENCOUNTERS WITH OUR PARTNERS ENGAGING IN ARTS EXPERIENCES IN NEIGHBORHOODS ACROSS OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL ARTS AND CRAFTS FESTIVAL HELD IN A PUBLIC PARK.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie W Austin Executive Di | OfficerTrustee | 40 | $85,152 |
Mark Boone President | OfficerTrustee | 6 | $0 |
Michelle Bennett Director | Trustee | 1 | $0 |
David Dalton Director | Trustee | 4 | $0 |
Britt Doolittle Director | Trustee | 1 | $0 |
Courtney Duncil Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $45,698 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,698 |
| Total Program Service Revenue | $274,009 |
| Investment income | $6,808 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $20,865 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $355,372 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $85,152 |
| Compensation of current officers, directors, key employees. | $17,030 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $31,763 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,252 |
| Payroll taxes | $9,755 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $156 |
| Fees for services: Accounting | $4,505 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $17,234 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,000 |
| 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 | $24,567 |
| All other expenses | $42,730 |
| Total functional expenses | $332,509 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $93,958 |
| Savings and temporary cash investments | $6,120 |
| 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 | $0 |
| Investments—publicly traded securities | $237,632 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $337,710 |
| 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 | $1,000 |
| Total liabilities | $1,000 |
| Net assets without donor restrictions | $336,710 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $337,710 |