Harvest Festival Inc
- Assets
- $1.4m
- Revenue
- $33.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Longview, TX
- Founding
- 12/1993
- Data as of
- 05/2022
- EIN
- 75-2245159
Organization Overview
Harvest Festival Inc is located in Longview, TX. The organization was established in 1993. 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. Harvest Festival 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 05/2022, Harvest Festival Inc generated $33.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.5%) each year. All expenses for the organization totaled $52.1k during the year ending 05/2022. 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
THE ORGANIZATION SPONSORS AN ANNUAL LIVESTOCK SHOW TO AUCTION FFA STUDENT'S LIVESTOCK. THE PROCEEDS, LESS A MINIMAL HANDLING CHARGE, ARE REMITTED TO THE STUDENTS FOR FUTURE EDUCATIONAL EXPENSES. THE ORGANIZATION ALSO SELLS BROILER CHICKS, SELLS PROGRAM ADS AND COOKS A BARBEQUE DINNER AS PART OF THE LIVESTOCK SHOW. THE ORGANIZATION ALSO SPONSORS A CRAWFISH BOIL, SELLS T-SHIRTS AND HOLDS A RAFFLE. THE NET PROCEEDS OF THESE ACTIVITIES ARE USED FOR ADDITIONAL COLLEGE SCHOLARSHIPS.THE ORGANIZATION ALSO SPONSORS MEETINGS DURING THE YEAR TO EDUCATE FFA STUDENTS AND PROMOTE AGRICULTURAL ENDEAVORS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE COLLEGE SCHOLARSHIPS TO GRADUATES OF LONVIEW AREA SCHOOLS.SCHOLARSHIP RECEIPIENTS MUST MAKE WRITTEN APPLICATION TO THE ORGANIZATION. SCHOLARSHIPS ARE PAID DIRECTLY TO THE TWO OR FOUR YEAR COLLEGE OF THE STUDENT'S CHOICE. TO BE ELIGIBLE, THE STUDENT MUST BE A GRADUATING SENIOR, SHOWN AT THE HARVEST FESTIVAL FOR AT LEAST TWO OF HIS OR HER HIGH SCHOOL YEARS AND PLACED IN THE TOP ONE HALF OF THE CLASS ACADEMICALLY. APPLICATIONS ARE JUDGED BASED ON NEED, SCHOLARSHIP, LEADERSHIP, CITIZENSHIP AND PROJECT PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jimmy Arp Vice President | Officer | 2 | $0 |
Scott Floyd President | Officer | 2 | $0 |
Jerry Dillard Secretary | Officer | 2 | $0 |
Shannon Fell Treasurer | Officer | 7 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $23,250 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $16,200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $39,450 |
| Total Program Service Revenue | $0 |
| Investment income | $3,467 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$9,224 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,693 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $48,563 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,550 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $395 |
| All other expenses | $1,589 |
| Total functional expenses | $52,097 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $53,993 |
| Savings and temporary cash investments | $146,320 |
| 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 | $1,165,435 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,365,748 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,314,128 |
| Net assets with donor restrictions | $51,620 |
| 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 | $1,365,748 |
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