Carmel Bach Festival Foundation Inc
- Assets
- $8.2m
- Revenue
- $315.1k
- Investments
- $7.8m
- Employees
- 0
- Location
- Carmel, CA
- Founding
- 12/1994
- Data as of
- 12/2021
- EIN
- 77-0387306
Organization Overview
Carmel Bach Festival Foundation Inc is located in Carmel, CA. The organization was established in 1994. According to its NTEE Classification (A68) the organization is classified as: Music, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carmel Bach Festival Foundation 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 12/2021, Carmel Bach Festival Foundation Inc generated $315.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $51.8k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE FOUNDATION IS TO DEVELOP, HOLD, MANAGE, AND DISTRIBUTE ENDOWMENT FUNDS FOR THE CARMEL BACH FESTIVAL, INC. ADDITIONALLY, THE FOUNDATION RECEIVES RESTRICTED CONTRIBUTIONS ON BEHALF OF THE FESTIVAL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM EXPENDITURES REPRESENT FUNDS DISBURSED TO THE CARMEL BACH FESTIVAL FOR THE PURPOSE OF SUPPLEMENTING THE OPERATING ACTIVITIES OF THE FESTIVAL AND TO REIMBURSE THE FESTIVAL FOR CERTAIN OPERATING EXPENSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Nee CEO | OfficerTrustee | 1 | $0 |
Nigel Lovett CFO | OfficerTrustee | 1 | $0 |
Cyril Yansouni Secretary | OfficerTrustee | 1 | $0 |
Steve Friedlander Exec. Director | Officer | 1 | $0 |
Jack Eugster Director | Trustee | 1 | $0 |
Susan Ducoeur 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $199,536 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $115,531 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $315,067 |
| 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. | $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 | $20,018 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $27,637 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $51,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $476,569 |
| 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 | $0 |
| Investments—other securities | $7,766,824 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,243,393 |
| 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 | $248,984 |
| Total liabilities | $248,984 |
| Net assets without donor restrictions | -$608,522 |
| Net assets with donor restrictions | $8,602,931 |
| 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 | $8,243,393 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Carmel Bach Festival Foundation Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Richard And Mary Pat Mccormick Charitable Trust Denver, CO PURPOSE: MUSIC & ARTS | $15,000 |
Endowment Analysis
| Beg. Balance | $7,347,660 |
| Earnings | $915,675 |
| Admin Expense | $27,637 |
| Other Expense | $24,182 |
| Ending Balance | $8,211,516 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Music Concourse Community Partnership San Francisco, CA | $31,271,076 | $4,428,131 |
Berkeley Music Group Berkeley, CA | $6,181,022 | $4,579,247 |
Kronos Performing Arts Assn San Francisco, CA | $1,591,460 | $2,774,082 |
Monterey Jazz Festival Monterey, CA | $3,593,346 | $4,129,138 |
Mosier Community School Foundation Inc Mosier, OR | $3,936,713 | $2,235,279 |
Carmel Bach Festival Inc Carmel, CA | $1,675,160 | $2,099,477 |
Camerata Pacifica Santa Barbara, CA | $1,526,106 | $1,221,933 |
American Bach Soloists San Francisco, CA | $908,845 | $1,282,181 |
Music For Minors Inc San Carlos, CA | $710,130 | $1,519,051 |
New West Symphony Association Thousand Oaks, CA | $774,216 | $1,642,962 |
Hiphopforchange Inc Oakland, CA | $676,196 | $1,628,580 |
Young Musicians Foundation Los Angeles, CA | $1,322,376 | $1,133,587 |