Mayfest Inc
- Assets
- $673.7k
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 4
- Location
- Fort Worth, TX
- Founding
- 05/1987
- Data as of
- 07/2023
- EIN
- 75-2160417
Organization Overview
Mayfest Inc is located in Fort Worth, TX. The organization was established in 1987. 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 07/2023, Mayfest Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mayfest 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 07/2023, Mayfest Inc generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $1.7m during the year ending 07/2023. While expenses have increased by 2.6% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TRINITY COLLABORATIVE EXISTS TO CONNECT PEOPLE FOR A BETTER RIVER, BETTER PARKS, AND A BETTER COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAYFEST PRODUCES AN OUTDOOR FOUR-DAY FESTIVAL, WHICH WILL CELEBRATE ITS 52ND YEAR IN 2024, AS WELL AS OTHER EVENTS THROUGHOUT THE YEAR. IT PROVIDES SUPPORT TO THE CITY OF FORT WORTH PARKS & COMMUNITY SERVICES BY LEADING THE WAY WITH PARK IMPROVEMENTS THAT CAN BE ENJOYED BY ALL, AS WELL AS ADDRESSING INFRASTRUCTURE NEEDS; STREAMS & VALLEY, INC. BY SUPPORTING EFFORTS THAT BRING THE COMMUNITY TOGETHER TO CONNECT WITH NATURE, TRAIL DEVELOPMENT THAT ALLOWS USERS A SAFE PLACE TO EXERCISE AND ENJOY A BETTER QUALITY OF LIFE, AND OTHER IMPACTFUL IMPROVEMENTS ALONG THE TRINITY RIVER; AND THE JUNIOR LEAGUE OF FORT WORTH, INC. BY ENSURING PROGRAMS THAT EDUCATE A DIVERSE GROUP OF CHILDREN AND YOUTH ON HEALTHY CHOICES, PHYSICAL ACTIVITY, EDUCATIONAL SUPPORT, EXPOSURE TO THE ARTS AND CULTURAL AWARENESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Teri Mcguill President | OfficerTrustee | 1 | $0 |
Randle Harwood Vice President | OfficerTrustee | 1 | $0 |
Natalie Martin Treasurer | OfficerTrustee | 1 | $0 |
Bart Tucket Director | Trustee | 1 | $0 |
Jared Fuller Director | Trustee | 1 | $0 |
Katie Briggs 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 | $81,312 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $81,312 |
| Total Program Service Revenue | $1,349,067 |
| Investment income | $9,423 |
| 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 | $5,874 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,445,676 |
| 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. | $75,000 |
| Compensation of current officers, directors, key employees. | $25,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,671 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $10,504 |
| Office expenses | $104,010 |
| Information technology | $0 |
| 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 | $499 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,634 |
| Insurance | $35,471 |
| All other expenses | $196,846 |
| Total functional expenses | $1,667,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $472,446 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,011 |
| 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 | $3,926 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $135,317 |
| Total assets | $673,700 |
| Accounts payable and accrued expenses | $89,443 |
| 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 | $122,900 |
| Other liabilities | $137,135 |
| Total liabilities | $349,478 |
| Net assets without donor restrictions | $294,511 |
| Net assets with donor restrictions | $29,711 |
| 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 | $673,700 |
Grants Awarded
Over the last fiscal year, Mayfest Inc has awarded $289,900 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
STREAMS AND VALLEYS INC PURPOSE: GUARANTEED DISTRIBUTION | $35,000 |
CITY OF FORT WORTH PARK AND RECREATION DEPARTMENT PURPOSE: GUARANTEED DISTRIBUTION | $35,000 |
JUNIOR LEAGUE PURPOSE: GUARANTEED DISTRIBUTION | $35,000 |
STREAMS AND VALLEYS INC PURPOSE: PHYLLIS J TILLEY BRIDGE PROJECT PHASE I & II | $60,000 |
CITY OF FORT WORTH PARK AND RECREATION DEPARTMENT PURPOSE: PERMANENT PORT-A-LET ENCLOSURE IN TRINITY PARK, UPGRADED AUDIO SYSTEM FOR PARD, PARD ARCHIVING SOFTWARE SYSTEM | $63,000 |
JUNIOR LEAGUE PURPOSE: ALL ABOARD TRAINING PROGRAM, KIDS IN THE KITCHEN PROGRAM WITH FWISD, PANCAKE PICNIC AT COOKS CHILDREN HOSPITAL | $61,900 |