Albuquerque International Balloon Fiesta Inc
- Assets
- $13.5m
- Revenue
- $13.2m
- Investments
- $0.0
- Employees
- 37
- Location
- Albuquerque, NM
- Founding
- 12/1999
- Data as of
- 12/2021
- EIN
- 85-0250848
Organization Overview
Albuquerque International Balloon Fiesta Inc is located in Albuquerque, NM. The organization was established in 1999. According to its NTEE Classification (N52) the organization is classified as: Fairs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, Albuquerque International Balloon Fiesta Inc employed 37 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Albuquerque International Balloon Fiesta 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, Albuquerque International Balloon Fiesta Inc generated $13.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $9.8m during the year ending 12/2021. While expenses have increased by 2.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
ORGANIZE AND OPERATE THE ANNUAL ALBUQUERQUE INTERNATIONAL BALLOON FIESTA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZE AND OPERATE THE ALBUQUERQUE INTERNATIONAL BALLOON FIESTA HELD FROM OCTOBER 2, 2021 THROUGH OCTOBER 10, 2021. ESTIMATED ATTENDANCE FOR THE EVENT WAS 783,866.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul R Smith Executive Director | Officer | 60 | $157,851 |
Sam Parks Director Of Operations | 50 | $138,606 | |
Lisa Mulder Merchandise Manager | 40 | $111,376 | |
Martha Gonzales Controller | Officer | 16 | $58,649 |
Richard Rice Treasurer | OfficerTrustee | 2.2 | $0 |
Judith Nakamura Secretary | OfficerTrustee | 2.2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pacific Italia Inc Dba Scarpas Catering | 12/30/21 | $260,585 |
Albuquerque Public Schools Buses | 12/30/21 | $269,473 |
Elevate Tickets Ticketing | 12/30/21 | $397,591 |
Little Anita's Catering Llc Catering | 12/30/21 | $118,750 |
Spectra Food Services & Hospitality Catering | 12/30/21 | $319,400 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $301,255 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,476 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $307,731 |
| Total Program Service Revenue | $11,692,243 |
| Investment income | $10,100 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $105,102 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $975,568 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,246,865 |
| 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. | $254,277 |
| Compensation of current officers, directors, key employees. | $161,363 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,003,249 |
| Pension plan accruals and contributions | $36,584 |
| Other employee benefits | $39,109 |
| Payroll taxes | $111,069 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $79,288 |
| Fees for services: Accounting | $13,957 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,581,199 |
| Advertising and promotion | $207,349 |
| Office expenses | $1,420,522 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $277,233 |
| Travel | $24,748 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,222 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $460,193 |
| Insurance | $0 |
| All other expenses | $55,660 |
| Total functional expenses | $9,823,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,244,354 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,047 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $138,501 |
| Prepaid expenses and deferred charges | $3,000 |
| Net Land, buildings, and equipment | $6,844,792 |
| Investments—publicly traded securities | $269,586 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $13,518,280 |
| Accounts payable and accrued expenses | $218,504 |
| Grants payable | $0 |
| Deferred revenue | $502,120 |
| 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 | $296,275 |
| Other liabilities | $0 |
| Total liabilities | $1,016,899 |
| Net assets without donor restrictions | $12,501,381 |
| Net assets with donor restrictions | $0 |
| 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 | $13,518,280 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Houston Livestock Show And Rodeo Educational Fund Houston, TX | $117,451,664 | $14,021,217 |
Earth Day Texas Inc Dallas, TX | $1,234,061 | $10,432,701 |
Bell County Expo Inc Belton, TX | $3,987,483 | $11,578,565 |
Albuquerque International Balloon Fiesta Inc Albuquerque, NM | $13,518,280 | $13,246,865 |
Southwestern Fair Commission Inc Tucson, AZ | $10,447,798 | $10,245,189 |
Utah State Fair Corporation Salt Lake City, UT | $6,943,836 | $8,118,734 |
Expo Center Of Taylor County Abilene, TX | $1,469,726 | $5,612,899 |
Fairfield Village Community Inc Houston, TX | $4,878,144 | $5,460,075 |
International Association Of Venue Managers Inc Coppell, TX | $4,566,324 | $3,596,917 |
Petroleum Equipment Institute Tulsa, OK | $10,127,893 | $3,682,039 |
Austin County Fair Association Inc Bellville, TX | $2,038,389 | $3,840,084 |
Washington County Fair Association Brenham, TX | $1,247,052 | $3,262,876 |