Tales Of The Cocktail Foundation Inc
- Assets
- $658.0k
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 19
- Location
- Metairie, LA
- Founding
- 01/2007
- Data as of
- 12/2021
- EIN
- 84-1701381
Organization Overview
Tales Of The Cocktail Foundation Inc is located in Metairie, LA. The organization was established in 2007. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Tales Of The Cocktail Foundation Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tales Of The Cocktail 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, Tales Of The Cocktail Foundation Inc generated $2.0m 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 (4.9%) each year. All expenses for the organization totaled $2.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (2.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE, ADVANCE, AND SUPPORT THE GLOBAL HOSPITALITY INDUSTRY.
Describe the Organization's Program Activity:
TALES OF THE COCKTAIL: TALES OF THE COCKTAIL (TOTC) IS EQUAL PARTS COCKTAIL CONFERENCE AND FAMILY REUNION, FEATURING A SCHEDULE OF EDUCATIONAL SEMINARS, TASTINGS, COMPETITIONS, AND NETWORKING EVENTS - REPRESENTING THE LATEST THE GLOBAL DRINKS INDUSTRY HAS TO OFFER. SUPPORTED BY THE EDUCATION COMMITTEE AND COCKTAIL APPRENTICE PROGRAM (RECRUITING AND TRAINING AND EXECUTING THOUSANDS OF DRINKS FOR THE CONFERENCE), THIS ANNUAL EVENT PROVIDES EDUCATION, TRAINING AND RESOURCES (INCLUDING MENTAL HEALTH AND WELLNESS ACTIVATIONS THROUGH BEYOND THE BAR) TO THE DRINKS COMMUNITY. IN 2021, TOTC WAS HELD IN A HYBRID FORMAT DUE TO THE PANDEMIC, AND THE CONFERENCE FEATURED 166 SESSIONS, 59 SEMINARS AND 36 IN-PERSON EVENTS, IN ADDITION TO MENTOR HOURS, DAME HALL OF FAME, COCKTAIL APPRENTICE PROGRAM ALUMNI SESSIONS, SPIRITED AWARDS AND A KEYNOTE ADDRESS.TALES ON TOUR & PARTNERSHIP PROGRAMS: TALES ON TOUR IS A FOUR-DAY FESTIVAL FEATURING RENOWNED BARTENDERS SHARING INSIGHTS DURING A DAY OF EDUCATION, BEYOND THE BAR PROGRAMMING (CENTERED ON MENTAL HEALTH AND WELLNESS PROGRAMMING), A DAY OF SERVICE, SPIRITED DINING & DRINKING EVENTS, AND THE ORGANIZATION'S SIGNATURE COCKTAIL APPRENTICE PROGRAM. TALES ON TOUR IS THE OPPORTUNITY TO EXPERIENCE A TASTE OF WHAT TALES OF THE COCKTAIL IS ALL ABOUT IN AN UNFORGETTABLE CITY WITH SUCCESSFUL STOPS IN VANCOUVER, BUENOS AIRES, MEXICO CITY, EDINBURGH, AND PUERTO RICO. THIS EVENT OCCURRED IN 2019, BUT WAS CANCELLED IN 2020 AND 2021 DUE TO COVID-19. INSTEAD, TOTCF FOCUSED ON PROVIDING GRANTS AND ASSISTANCE THROUGH DISASTER RELIEF AND TRADITIONAL GRANTS. THROUGH COORDINATION WITH OUR BRAND PARTNERS, WE WERE ABLE TO DISTRIBUTE INDIVIDUAL RELIEF GRANTS TO BARTENDERS. TOTCF PARTNERS WITH BRANDS TO PROVIDE BRAND AWARENESS, SUPPORT CAMPAIGNS AND/OR COMPETITIONS THAT ARE ALIGNED WITH OUR MISSION AND OFFER OPPORTUNITIES TO THE GLOBAL DRINKS INDUSTRY. TOTCF SUPPORTS EMERGING AND EXISTING PROGRAMS AND ORGANIZATIONS THAT DEMONSTRATE A VISION, DETERMINATION, AND ABILITY TO MAKE MEANINGFUL CHANGE IN THE GLOBAL DRINKS INDUSTRY ACROSS A SPECTRUM OF DIVERSE TOPICS.COCKTAIL APPRENTICE PROGRAM: THE COCKTAIL APPRENTICE PROGRAM IS AN EXCLUSIVE MENTORSHIP PROGRAM FOR UP-AND-COMING BARTENDERS TO LEARN ALONGSIDE SOME OF THE BIGGEST NAMES IN THE BUSINESS DURING FIVE DAYS OF TOTC. SINCE 2008, MORE THAN 400 APPRENTICES HAVE GAINED EXTENSIVE EXPERIENCE WORKING AND MANAGING LARGE-SCALE, HIGH-VOLUME EVENTS WHILE PROVIDING AN INVALUABLE SERVICE TO TOTCF AND THE INDUSTRY AS A WHOLE. TOTCF CONTINUES TO SUPPORT THE GROWING FRATERNITY OF PAST APPRENTICES BY OFFERING EXCLUSIVE OPPORTUNITIES FOR SCHOLARSHIPS AND FINANCIAL AID TO FURTHER SUPPORT THEIR GROWTH WITHIN THE INDUSTRY.DIGITAL PARTNER PROGRAMS COMPRISED ANOTHER CRITICAL ELEMENT OF 2021 PROGRAMMING. TOTCF PARTNERED WITH BRAND PARTNERS TO CREATE NEW WAYS TO INTERACT ON A DIGITAL PLATFORM WITH BARTENDERS, ENTHUSIASTS AND OWNERS/OPERATORS ON PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Caroline Rosen President (thru 06/2021) | Officer | 40 | $142,095 |
Elieen Wayner CEO | Officer | 40 | $130,769 |
Gary N Solomon Jr Director - Secretary | OfficerTrustee | 15 | $0 |
Neal Bodenheimer Director - Treasurer | OfficerTrustee | 20 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Team Enterprises Event Mangement | 12/30/20 | $258,250 |
Penguin Random House Llc Punch Video Production | 12/30/20 | $100,118 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $115,938 |
| All other contributions, gifts, grants, and similar amounts not included above | $417,917 |
| Noncash contributions included in lines 1a–1f | $38,750 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $533,855 |
| Total Program Service Revenue | $1,502,561 |
| Investment income | $0 |
| 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 | $2,036,416 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,000 |
| Grants and other assistance to domestic individuals. | $57,800 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $288,219 |
| Compensation of current officers, directors, key employees. | $80,203 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $468,036 |
| Pension plan accruals and contributions | $9,986 |
| Other employee benefits | $13,626 |
| Payroll taxes | $57,582 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $69,245 |
| Fees for services: Accounting | $55,155 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $769,149 |
| Advertising and promotion | $63,190 |
| Office expenses | $59,664 |
| Information technology | $69,089 |
| Royalties | $0 |
| Occupancy | $936 |
| Travel | $66,178 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,767 |
| Interest | $85,817 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,540 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,259,869 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438,571 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $110,297 |
| 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 | $63,500 |
| Net Land, buildings, and equipment | $5,789 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $39,865 |
| Total assets | $658,022 |
| Accounts payable and accrued expenses | $199,110 |
| Grants payable | $0 |
| Deferred revenue | $143,921 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $746,403 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $397,000 |
| Other liabilities | $0 |
| Total liabilities | $1,486,434 |
| Net assets without donor restrictions | -$1,078,412 |
| Net assets with donor restrictions | $250,000 |
| 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 | $658,022 |
Grants Awarded
Over the last fiscal year, Tales Of The Cocktail Foundation Inc has awarded $60,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Louisville, KY PURPOSE: TO, IN PARTNERSHIP WITH HISTORIC LOCUST GROVE, BEGIN THE FARM DISTILLED PROJECT. THE PROJECT WILL EQUIP UNDERREPRESENTED FOOD AND BEVERAGE TALENT, WOMEN AND PEOPLE OF COLOR, TO EXPLORE PROFESSIONAL DEVELOPMENT AND ENTREPRENEURSHIP IN THE SPIRITS INDUSTRY THROUGH THE EXPLORATION OF HISTORY AND TRADE. IN ADDITION, THE PROJECT AIMS TO ADVOCATE FOR THE EMPLOYMENT OF THIS TALENT POOL TO FULFILL PROJECTED WORKFORCE SHORTAGES. | $25,000 |
New Orleans, LA PURPOSE: TO BENEFIT MINO'SEQUITY PROGRAM, PROVIDING PRACTICAL TOOLS TO CREATE UNIFIED AND EQUITABLE WORKSPACES. THEEIGHT-MONTH PROGRAM WILL PROVIDE CUSTOMIZED SOLUTIONS TO IMPROVE BUSINESS AND DRIVE GROWTHFOR MANAGEMENT, STAFF, AND PATRONS. | $12,500 |
New Orleans, LA PURPOSE: TO PROVIDE HANDS-ONTRAINING, MENTORSHIP, INDUSTRY EXPOSURE, AND WRAP-AROUND SUPPORT SERVICES ENABLING YOUNG PEOPLE OF COLOR TO LAUNCH SUCCESSFUL CAREERS IN THE DRINKS INDUSTRY. | $12,500 |
Phoenix, AZ PURPOSE: HURRICANE IDA RELIEF | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Texas Dental Association Austin, TX | $10,861,399 | $4,136,384 |
Bos Place Houston, TX | $5,835,899 | $1,943,445 |
Tales Of The Cocktail Foundation Inc Metairie, LA | $658,022 | $2,036,416 |
Krewe Of Red Beans New Orleans, LA | $2,812,891 | $1,780,291 |
Culture Aid Nola New Orleans, LA | $593,018 | $1,795,050 |
Rick C & Belinda G Foundation Fayetteville, AR | $24,298,767 | $2,403,306 |
East Mississippi Center For Educational Development Inc Meridian, MS | $1,141,001 | $879,084 |
North Texas Business Council For The Arts Dallas, TX | $531,144 | $506,888 |
Citadelle Art Foundation Canadian, TX | $13,351,512 | $757,046 |
Studio School Of Music Richardson, TX | $483,028 | $643,200 |
Education Foundation Of The Louisiana Restaurant Assoc Inc Metairie, LA | $1,558,683 | $462,324 |
The American Fallen Soldiers Project Inc Addison, TX | $82,523 | $279,712 |