North Carolina Folk Festival
- Assets
- $223.8k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Greensboro, NC
- Founding
- 07/2018
- Data as of
- 12/2021
- EIN
- 82-4363298
Organization Overview
North Carolina Folk Festival is located in Greensboro, NC. The organization was established in 2018. According to its NTEE Classification (A80) the organization is classified as: Historical Organizations, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, North Carolina Folk Festival employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Folk Festival is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE NORTH CAROLINA FOLK FESTIVAL HONORS, CELEBRATES, AND SHARES THE MEANINGFUL WAYS IN WHICH COMMUNITIES EXPRESS THEIR CREATIVITY AND CULTURAL TRADITIONS THROUGH MUSIC, DANCE, FOOD, CRAFTS AND OTHER FOLK ARTS TO ENHANCE APPRECIATION OF DIVERSE TRADITIONS AND CONTRIBUTE TO COMMUNITY VIBRANCY AND INCLUSIVITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE NORTH CAROLINA FOLK FESTIVAL TYPICALLY PRESENTS A FREE, LARGE-SCALE, THREE-DAY OUTDOOR EVENT. IT FEATURES OVER 350 OF THE FINEST FOLK AND TRADITIONAL MUSICIANS, DANCERS, CRAFTSPEOPLE, AND OTHER KEEPERS OF CULTURE IN PERFORMANCES, WORKSHOPS, AND DEMONSTRATIONS, PLUS CHILDREN'S ACTIVITIES, SAVORY REGIONAL AND GLOBAL CUISINES, CRAFT BREWS, NON-STOP PARTICIPATORY DANCING, STORYTELLING, PARADES, AND MORE. THE FESTIVAL WAS A TWO-DAY EVENT IN 2021.
THE NORTH CAROLINA FOLK FESTIVAL TYPICALLY PRESENTS A FREE, LARGE-SCALE, THREE-DAY OUTDOOR EVENT. IT FEATURES OVER 350 OF THE FINEST FOLK AND TRADITIONAL MUSICIANS, DANCERS, CRAFTSPEOPLE, AND OTHER KEEPERS OF CULTURE IN PERFORMANCES, WORKSHOPS, AND DEMONSTRATIONS, PLUS CHILDREN'S ACTIVITIES, SAVORY REGIONAL AND GLOBAL CUISINES, CRAFT BREWS, NON-STOP PARTICIPATORY DANCING, STORYTELLING, PARADES, AND MORE. THE FESTIVAL WAS A TWO-DAY EVENT IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Grossmann President/ceo | Officer | 40 | $81,955 |
Barbara Ruby Treasurer | OfficerTrustee | 1 | $0 |
William Cary Secretary | OfficerTrustee | 1 | $0 |
Peter Reichard Chair | OfficerTrustee | 1 | $0 |
Richard Moore Vice Chair | OfficerTrustee | 1 | $0 |
Ray Covington Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $320,300 |
| All other contributions, gifts, grants, and similar amounts not included above | $664,215 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $984,515 |
| Total Program Service Revenue | $126,093 |
| Investment income | $1,019 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,111,627 |
| 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. | $81,955 |
| Compensation of current officers, directors, key employees. | $40,977 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $203,171 |
| 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 | $610,208 |
| Advertising and promotion | $126,802 |
| Office expenses | $0 |
| Information technology | $7,987 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,147 |
| 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 | $3,251 |
| Insurance | $22,731 |
| All other expenses | $0 |
| Total functional expenses | $1,058,252 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $51,988 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $158,331 |
| Accounts receivable, net | $10,246 |
| 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 | $300 |
| Net Land, buildings, and equipment | $2,943 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $223,808 |
| Accounts payable and accrued expenses | $8,961 |
| Grants payable | $0 |
| Deferred revenue | $20,000 |
| 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 | $109,778 |
| Total liabilities | $138,739 |
| Net assets without donor restrictions | -$54,931 |
| Net assets with donor restrictions | $140,000 |
| 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 | $223,808 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that North Carolina Folk Festival has recieved totaling $22,100.
| Awarding Organization | Amount |
|---|---|
The Joseph M Bryan Foundation Of Greater Greensboro Inc Greensboro, NC PURPOSE: NATIONAL FOLK FESTIVAL - GREENSBORO | $10,000 |
Community Foundation Of Greater Greensboro Inc Greensboro, NC PURPOSE: GENERAL SUPPORT | $7,100 |
The Duke Energy Foundation Charlotte, NC PURPOSE: VIBRANT ECONOMIES | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlanta Historical Society Inc Atlanta, GA | $186,882,791 | $33,828,707 |
Heritage South Community Cu Shelbyville, TN | $308,780,084 | $17,719,881 |
Bell Tower Green Inc Salisbury, NC | $2,054,412 | $2,539,569 |
Fox Theatre Inc Atlanta, GA | $106,794,461 | $20,353,110 |
Army Historical Foundation Inc Fort Belvoir, VA | $16,487,331 | $17,384,969 |
Virginia Historical Society Richmond, VA | $152,846,402 | $30,481,870 |
United States Foundation For The Commemoration Of The World Wars Arlington, VA | $17,191,453 | $4,408,831 |
The Lodges At Banning Mills Retreat And Conservation Center Inc Whitesburg, GA | $8,373,902 | $8,117,551 |
Association For The Preservation Of Virginia Antiquities Richmond, VA | $27,559,744 | $5,571,617 |
Robert E Lee Memorial Association Stratford, VA | $32,464,208 | $3,400,673 |
Atlanta Beltline Partnership Inc Atlanta, GA | $54,208,865 | $38,882,931 |
Historic Charleston Foundation Charleston, SC | $32,935,368 | $6,777,038 |