Liberty Bowl Festival Assn
- Assets
- $2.2m
- Revenue
- $10.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Memphis, TN
- Founding
- 05/1967
- Data as of
- 03/2022
- EIN
- 62-6064769
Organization Overview
Liberty Bowl Festival Assn is located in Memphis, TN. The organization was established in 1967. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Liberty Bowl Festival Assn is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 03/2022, Liberty Bowl Festival Assn generated $10.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $10.8m during the year ending 03/2022. While expenses have increased by 3.7% 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
PROMOTE SOCIAL/ECONOMIC WELFARE OF MID-SOUTH & CITIZENS; SUPPORT MISSION OF AMERICAN UNIVERSITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LIBERTY BOWL FESTIVAL ASSOCIATION IS HOST TO THE ANNUAL AUTOZONE LIBERTY BOWL NCAA COLLEGE FOOTBALL GAME AND RELATED EVENTS HELD ANNUALLY IN MEMPHIS, TN. THE CITY AND ITS CITIZENS ARE HOSTS TO GUESTS FROM AROUND THE COUNTRY AND TO A NATIONAL TELEVISION AUDIENCE. THE ASSOCIATION SPONSORS ATHLETIC, CULTURAL, CIVIC AND RELATED ACTIVITIES TO PROMOTE THE SOCIAL AND ECONOMIC WELFARE OF THE MID-SOUTH AND ITS CITIZENS. THE ASSOCIATION PROMOTES AND SUPPORTS THE MISSION OF AMERICAN UNIVERSITIES OF HIGHER EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Boston Vice President | Trustee | 2 | $0 |
Hugh Mallory Secretary | Trustee | 2 | $0 |
Chris Moore President | Trustee | 2 | $0 |
Bill Giles Chairman | Trustee | 2 | $0 |
Becky Dinstuhl Treasurer | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $36,335 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,335 |
| Total Program Service Revenue | $10,724,816 |
| Investment income | $1,661 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $76,274 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,839,086 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,850,000 |
| 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 | $4,724,910 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $25,075 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $570,462 |
| Advertising and promotion | $5,090 |
| Office expenses | $23,388 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,616 |
| Travel | $6,898 |
| 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 | $1,753 |
| Insurance | $46,920 |
| All other expenses | $0 |
| Total functional expenses | $10,839,086 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,109,769 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,103 |
| 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 | $9,961 |
| Net Land, buildings, and equipment | $6,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $34,000 |
| Total assets | $2,194,602 |
| Accounts payable and accrued expenses | $234,059 |
| 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 | $234,059 |
| Net assets without donor restrictions | $1,960,543 |
| 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 | $2,194,602 |
Grants Awarded
Over the last fiscal year, Liberty Bowl Festival Assn has awarded $4,850,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Birmingham, AL PURPOSE: TO SUPPORT THE MISSION OF AMERICAN UNIVERSITIES OF HIGHER EDUCATION AND THEIR CONFERENCES WHO PARTICIPATE IN THE LIBERTY BOWL GAME EACH YEAR. | $2,850,000 |
Irving, TX PURPOSE: TO SUPPORT THE MISSION OF AMERICAN UNIVERSITIES OF HIGHER EDUCATION AND THEIR CONFERENCES WHO PARTICIPATE IN THE LIBERTY BOWL GAME EACH YEAR. | $2,000,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Liberty Bowl Festival Assn has recieved totaling $31,500.
| Awarding Organization | Amount |
|---|---|
Dallas Foundation A Tx Nonprofit Corporation Dallas, TX PURPOSE: GENERAL SUPPORT | $25,000 |
Methodist Lebonheur Healthcare Memphis, TN PURPOSE: 2021 AUTOZONE LIBERTY BOWL | $6,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Liberty Bowl Festival Assn Memphis, TN | $2,194,602 | $10,839,086 |
Printing United Alliance Fairfax, VA | $29,361,359 | $6,023,644 |
American Royal Association Kansas City, MO | $28,283,023 | $7,000,256 |
Cullasaja Club Inc Highlands, NC | $18,372,890 | $6,912,030 |
National Automatic Merchandising Association Arlington, VA | $9,038,730 | $6,619,737 |
American Peanut Council Inc Alexandria, VA | $2,565,849 | $4,863,109 |
Arkansas Livestock Show Assoc Little Rock, AR | $4,870,203 | $5,931,539 |
Friends Of The Festival Inc Chattanooga, TN | $2,789,360 | $3,355,227 |
Kentucky Derby Festival Inc Louisville, KY | $6,625,289 | $3,844,478 |
Norfolk Festevents Ltd Norfolk, VA | $2,813,598 | $4,090,710 |
National D-Day Memorial Foundation Ltd Bedford, VA | $18,908,429 | $4,372,645 |
Sunbelt Agricultural Exposition Inc Moultrie, GA | $986,541 | $2,489,467 |