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Nonprofiteer
← CEDAR RAPIDS FREEDOM FESTIVAL INC

Form 990 for tax year 2023

Filed by CEDAR RAPIDS FREEDOM FESTIVAL INC.

Totals

Total revenue
$477,384
Total expenses
$435,470
Contributions and grants received
$367,545
Grants paid
$1,500
Program service revenue
$67,247
Investment income
$6,404
Other revenue
$36,188
Total assets, end of year
$243,642
Total liabilities, end of year
$1,305
Net assets or fund balances, end of year
$242,337
Program services expenses (Part IX)
$322,264
Management and general expenses
$59,977
Fundraising expenses
$53,229
Program service expenses (Part III)
$322,264

Program services were 74.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $59,000

  • 1f · All other contributions, gifts and grants

    $308,545

  • 2a · Program service revenue: FREEDOM FESTIVAL EVENTS

    total $67,247 · related or exempt $67,247

  • 3 · Investment income

    total $5,353 · excluded $5,353

  • 7a · Gross sales of assets other than inventory

    securities $1,051

  • 7c · Gain or loss

    securities $1,051

  • 7d · Net gain or loss

    total $1,051 · excluded $1,051

  • 8a · Fundraising events: gross income

    $8,047

  • 8c · Net income from fundraising events

    total $8,047 · excluded $8,047

  • 10a · Gross sales of inventory

    $35,951

  • 10b · Cost of goods sold

    $7,810

  • 10c · Net income from sales of inventory

    total $28,141 · related or exempt $28,141

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,500 · program services $1,500

  • 5 · Compensation of officers, directors and key employees

    total $77,323 · program services $19,331 · management and general $19,331 · fundraising $38,661

  • 7 · Other salaries and wages

    total $48,317 · program services $33,822 · management and general $14,495

  • 9 · Other employee benefits

    total $825 · program services $577 · management and general $248

  • 10 · Payroll taxes

    total $10,202 · program services $2,550 · management and general $2,551 · fundraising $5,101

  • 11c · Fees: accounting

    total $18,177 · program services $12,723 · management and general $5,454

  • 11f · Fees: investment management

    total $767 · program services $537 · management and general $230

  • 12 · Advertising and promotion

    total $9,467 · fundraising $9,467

  • 13 · Office expenses

    total $4,947 · program services $3,463 · management and general $1,484

  • 14 · Information technology

    total $2,575 · program services $1,802 · management and general $773

  • 16 · Occupancy

    total $24,077 · program services $16,854 · management and general $7,223

  • 20 · Interest

    total $31 · program services $22 · management and general $9

  • 22 · Depreciation, depletion and amortization

    total $262 · program services $183 · management and general $79

  • 23 · Insurance

    total $13,163 · program services $11,849 · management and general $1,314

  • 24a · Other expenses: FIREWORKS

    total $45,000 · program services $45,000

  • 24b · Other expenses: EQUIPMENT RENTAL

    total $41,577 · program services $41,577

  • 24c · Other expenses: SECURITY/SAFETY

    total $29,402 · program services $29,402

  • 24d · Other expenses: SANITATION

    total $15,605 · program services $15,605

  • 24e · All other expenses

    total $92,253 · program services $85,467 · management and general $6,786

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,805 · end of year $151

  • 2 · Savings and temporary cash investments

    end of year $14,810

  • 10a · Land, buildings and equipment: cost or other basis

    $73,923

  • 10b · Land, buildings and equipment: accumulated depreciation

    $73,880

  • 10c · Land, buildings and equipment, net

    beginning of year $305 · end of year $43

  • 11 · Investments: publicly traded securities

    beginning of year $161,322 · end of year $228,638

  • 17 · Accounts payable and accrued expenses

    beginning of year $817 · end of year $851

  • 25 · Other liabilities

    beginning of year $291 · end of year $454

  • 27 · Net assets without donor restrictions

    beginning of year $162,324 · end of year $242,337

Mission and programs · 2023

Mission

THE CEDAR RAPIDS FREEDOM FESTIVAL SEEKS TO PROVIDE SAFE, AFFORDABLE, AND FUN ANNUAL EVENTS THAT EMBODY THE SPIRIT OF PATRIOTISM AND A SENSE OF COMMUNITY AND FAMILY.

  • THE CEDAR RAPIDS FREEDOM FESTIVAL IS A THREE WEEK FESTIVAL THAT CULMINATES ON THE 4TH OF JULY WITH TRADITIONS AND PROGRAMMING. THIS INCLUDES THE PANCAKE BREAKFAST, CLASSIC CAR SHOW, AND CELEBRATION OF FREEDOM FIREWORKS DISPLAY. THIS IS THE LARGEST 4TH OF JULY FIREWORKS DISPLAY IN THE STATE OF IOWA. PROGRAMMING INCLUDES A CONCERT, KIDS PROGRAMMING, VENDORS, AND A 25- MINUTE FIREWORKS DISPLAY. THESE ACTIVITIES ARE ENJOYED BY MORE THAN 50,000 PEOPLE EACH 4TH OF JULY.

    Expenses $322,264 · Grants $1,500 · Revenue $67,247

  • THE CEDAR RAPIDS FREEDOM FESTIVAL FOCUSES ON PROGRAMMING OPTIONS THAT ARE LOW OR NO COST FOR THE COMMUNITY. ONE SIGNATURE EVENT EACH SUMMER IS THE BALLOON GLOW. THIS EVENT FEATURES HOT AIR BALLOONS, A CONCERT, AND VENDORS. ADMISSION IS A FREEDOM FESTIVAL BUTTON (10) THAT ALSO PROVIDES YOU ADMISSION INTO ADDITIONAL PROGRAMMING EACH JUNE-JULY.

  • THE CEDAR RAPIDS FREEDOM FESTIVAL FOCUSES ON PROGRAMMMING EACH JUNE AND JULY LEADING UP TO AND INCLUDING THE 4TH OF JULY PATRIOTIC HOLIDAY. ADDITIONAL PROGRAMMING OFFERED BY THE CEDAR RAPIDS FREEDOM FESTIVAL INCLUDES THE TRIBUTE TO HEROES DINNER, THE FREEDOM BIKE RIDE, A LASER LIGHT SHOW, A PARADE, AND A PATRIOTIC PORCH CONTEST.

As filed on the 2023 return.

Listed in Part VII

  • Karol Shepherd Term 824

    EXEC DIRECTO

    Total calculated
    $66,484
    From this org
    $66,484
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Brittany Barnhart Eff 092024

    EXEC DIRECTO

    Total calculated
    $0
    Hours/week
    40

  • Jessica Mackey

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Rong Slagle

    VICE PRESIDE

    Total calculated
    $0
    Hours/week
    1

  • Megan Merritt

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Joe Winters

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Becky Eckley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dan Mussell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Shelby Vanous

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Sierra Woodall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jenny Townsend

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Julia Freedman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Coady Sierra

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jenn Mason

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dana Curtis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lindsey Gaunitz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Liz Loney

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Lori Armstrong

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Nelson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Torri Freese

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Brunscheen

    PAST PRESIDE

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
21 March 2025
IRS schema version
2023v6.0
Source object
202520999349301712

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