Form 990 for tax year 2022
Filed by CEDAR RAPIDS FREEDOM FESTIVAL INC.
Totals
- Total revenue
- $420,308
- Total expenses
- $474,347
- Contributions and grants received
- $351,837
- Grants paid
- $2,325
- Program service revenue
- $51,148
- Investment income
- $6,489
- Other revenue
- $10,834
- Total assets, end of year
- $163,432
- Total liabilities, end of year
- $1,108
- Net assets or fund balances, end of year
- $162,324
- Program services expenses (Part IX)
- $367,840
- Management and general expenses
- $68,418
- Fundraising expenses
- $38,089
- Program service expenses (Part III)
- $367,840
Program services were 77.5% 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)
$50,000
-
1f · All other contributions, gifts and grants
$301,837
-
1g · Noncash contributions included above
$15,100
-
2a · Program service revenue: 4TH OF JULY
total $24,429 · related or exempt $24,429
-
2b · Program service revenue: BALLOON GLOW
total $10,311 · related or exempt $10,311
-
2c · Program service revenue: DOCK DOGS
total $5,067 · related or exempt $5,067
-
2d · Program service revenue: CAR SHOW
total $3,070 · related or exempt $3,070
-
2e · Program service revenue: FOOD VENDING
total $3,000 · related or exempt $3,000
-
2f · All other program service revenue
total $5,271 · related or exempt $5,271
-
3 · Investment income
total $6,574 · excluded $6,574
-
7b · Less cost or other basis and sales expenses
securities $85
-
7c · Gain or loss
securities -$85
-
7d · Net gain or loss
total -$85 · excluded -$85
-
8a · Fundraising events: gross income
$10,445
-
8b · Fundraising events: direct expenses
$15,771
-
8c · Net income from fundraising events
total -$5,326 · excluded -$5,326
-
10a · Gross sales of inventory
$31,138
-
10b · Cost of goods sold
$15,178
-
10c · Net income from sales of inventory
total $15,960 · related or exempt $15,960
-
11a · Other revenue: MISC
total $200 · excluded $200
-
11e · Other revenue, total
$200
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $2,325 · program services $2,325
-
5 · Compensation of officers, directors and key employees
total $64,296 · program services $16,074 · management and general $16,074 · fundraising $32,148
-
7 · Other salaries and wages
total $41,517 · program services $29,062 · management and general $12,455
-
10 · Payroll taxes
total $13,472 · program services $6,041 · management and general $3,665 · fundraising $3,766
-
11c · Fees: accounting
total $15,856 · program services $11,099 · management and general $4,757
-
11f · Fees: investment management
total $1,219 · program services $853 · management and general $366
-
11g · Fees: other
total $57,638 · program services $57,638
-
12 · Advertising and promotion
total $2,175 · fundraising $2,175
-
13 · Office expenses
total $5,643 · program services $3,950 · management and general $1,693
-
14 · Information technology
total $1,790 · program services $1,253 · management and general $537
-
16 · Occupancy
total $43,483 · program services $30,438 · management and general $13,045
-
17 · Travel
total $1,466 · program services $1,466
-
22 · Depreciation, depletion and amortization
total $262 · program services $183 · management and general $79
-
23 · Insurance
total $17,666 · program services $16,153 · management and general $1,513
-
24a · Other expenses: FIREWORKS
total $45,000 · program services $45,000
-
24b · Other expenses: SECURITY/SAFETY
total $33,059 · program services $33,059
-
24c · Other expenses: MARKETING
total $19,400 · program services $13,580 · management and general $5,820
-
24d · Other expenses: BARRICADING/FENCING
total $15,309 · program services $15,309
-
24e · All other expenses
total $92,771 · program services $84,357 · management and general $8,414
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $14,455 · end of year $1,805
-
10a · Land, buildings and equipment: cost or other basis
$77,956
-
10b · Land, buildings and equipment: accumulated depreciation
$77,651
-
10c · Land, buildings and equipment, net
beginning of year $566 · end of year $305
-
11 · Investments: publicly traded securities
beginning of year $190,341 · end of year $161,322
-
17 · Accounts payable and accrued expenses
beginning of year $507 · end of year $817
-
25 · Other liabilities
end of year $291
-
31 · Retained earnings, endowment or other funds
beginning of year $204,855 · end of year $162,324
Mission and programs · 2022
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.
Activities or mission (Part I)
THE CEDAR RAPIDS FREEDOM FESTIVAL, INC. CELEBRATES THE QUALITY OF LIFE IN EASTERN IOWA BY PROVIDING SAFE, AFFORDABLE, AND FUN ANNUAL EVENTS.
-
THE CEDAR RAPIDS FREEDOM FESTIVAL IS A THREE WEEK FESTIVAL THAT CULMINATES IN THE 4TH OF JULY 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 $172,039 · Revenue $29,299
-
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 BUTTION (10) THAT ALSO PROVIDES YOU ADMISSION INTO ADDITIONAL PROGRAMMING EACH JUNE-JULY.
Expenses $104,053 · Revenue $12,209
-
THE CEDAR RAPIDS FREEDOM FESTIVAL FOCUSES ON PROGRAMMING EACH JUNE AND JULY LEADING UP TO AND INCLUDING THE 4TH OF JULY PATRIOTIC HOLIDAY. ADDITIONAL PROGRAMMING OFFERED BY THE CEDAR RAPIDS FREEDOM FESTIVAL INCLUDE THE TRIBUTE TO HEROES DINNER, THE FREEDOM BIKE RIDE, A LASER LIGHT SHOW, A PARADE, AND A PATRIOTIC PORCH CONTEST.
Expenses $91,748 · Grants $2,325 · Revenue $9,640
As filed on the 2022 return.
Listed in Part VII
-
Karol ShepherdKAROL SHEPHERD
EXECUTIVE DI
- Total calculated
- $64,918
- From this org
- $63,115
- From related orgs
- $0
- Other
- $1,803
- Hours/week
- 40
-
Jeff BrunscheenJEFF BRUNSCHEEN
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Jessica MackeyJESSICA MACKEY
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 1
-
Emily UpahEMILY UPAH
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Joe WintersJOE WINTERS
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Becky EckleyBECKY ECKLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Brittany BarnhartBRITTANY BARNHART
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Charlie NicholsCHARLIE NICHOLS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dale Sonny DereusDALE SONNY DEREUS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dan MussellDAN MUSSELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Destyn WielandDESTYN WIELAND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jamie SchulteJAMIE SCHULTE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jenny TownsendJENNY TOWNSEND
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Julia FreemanJULIA FREEMAN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Megan MerrittMEGAN MERRITT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Pete DurinPETE DURIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ron SlagleRON SLAGLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Shelby VanousSHELBY VANOUS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sierra WoodallSIERRA WOODALL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sonia BrandleySONIA BRANDLEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tiffany ElwickTIFFANY ELWICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tj BrownTJ BROWN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Zach LoefflerZACH LOEFFLER
DIRECTOR
- 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
- 2022
- Filed
- 7 February 2024
- IRS schema version
- 2022v5.0
- Source object
- 202400479349301035
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