Fotofest Inc
- Assets
- $2.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 12
- Location
- Houston, TX
- Founding
- 08/1984
- Data as of
- 04/2023
- EIN
- 76-0105267
Organization Overview
Fotofest Inc is located in Houston, TX. The organization was established in 1984. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 04/2023, Fotofest Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fotofest 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 04/2023, Fotofest Inc generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.7m during the year ending 04/2023. As we would expect to see with falling revenues, expenses have declined by (3.2%) per year over the past 8 years. 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
TO CREATE AN INTERNATIONAL FORUM FOR THE EXCHANGE OF PHOTOGRAPHY AND IDEAS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PREPARATION, INSTALLATION, AND PRESENTATION OF PHOTOGRAPHIC EXHIBITIONS AND PROGRAMS, INCLUDING LECTURES, TOURS, AND PANEL DISCUSSIONS. PUBLICATIONS OF PHOTOGRAPHY BOOKS, CATALOGUES, AND GALLERY GUIDES.
LITERACY THROUGH PHOTOGRAPHY LEARNING PROGRAM - THE SCHOOL EDUCATION PROGRAM CREATED BY FOTOFEST TO HELP STUDENTS IN GRADES 3-12 STRENGTHEN BASIC LEARNING SKILLS, PARTICULARLY WRITING AND CRITICAL THINKING. THE LEARNING PROGRAM USES PHOTOGRAPHY AND VISUAL IMAGERY AS TOOLS TO STIMULATE STUDENTS' WRITING, COMPREHENSION, ANALYTIC ABILITIES AND COMMUNICATION SKILLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Evans Executive Di | OfficerTrustee | 40 | $110,111 |
Ken Anderson Vice Preside | OfficerTrustee | 8 | $0 |
Caroline Looke Benak Director | Trustee | 2 | $0 |
Kath Blanco Director | Trustee | 2 | $0 |
Michael Casey Director | Trustee | 2 | $0 |
Janavi Mahimtura Folmsbee Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,075 |
| Fundraising events | $132,644 |
| Related organizations | $0 |
| Government grants | $330,407 |
| All other contributions, gifts, grants, and similar amounts not included above | $681,643 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,145,769 |
| Total Program Service Revenue | $144,530 |
| Investment income | $19,203 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $251,027 |
| Net Income from Fundraising Events | $279,194 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,843,742 |
| 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. | $110,111 |
| Compensation of current officers, directors, key employees. | $22,022 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $298,175 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $62,983 |
| Payroll taxes | $31,997 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $355,667 |
| Advertising and promotion | $16,570 |
| Office expenses | $44,069 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $134,123 |
| Travel | $151,488 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,593 |
| All other expenses | $22,242 |
| Total functional expenses | $1,674,131 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,780 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $611,326 |
| 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 | $3,996 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $977,165 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $632,213 |
| Total assets | $2,383,480 |
| Accounts payable and accrued expenses | $126,863 |
| 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 | $9,000 |
| Secured mortgages and notes payable | $195,332 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $439,663 |
| Total liabilities | $770,858 |
| Net assets without donor restrictions | -$144,846 |
| Net assets with donor restrictions | $1,757,468 |
| 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 | $2,383,480 |