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Nonprofiteer
← HISTORIC MORGANTON FESTIVAL INC

Form 990 for tax year 2023

Filed by HISTORIC MORGANTON FESTIVAL INC.

Totals

Total revenue
$331,333
Total expenses
$294,219
Contributions and grants received
$3,750
Grants paid
$0
Program service revenue
$327,273
Investment income
$2
Other revenue
$308
Total assets, end of year
$122,516
Total liabilities, end of year
$2,539
Net assets or fund balances, end of year
$119,977
Program services expenses (Part IX)
$278,846
Management and general expenses
$15,373
Fundraising expenses
$0
Program service expenses (Part III)
$278,846

Program services were 94.8% 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)

    $3,750

  • 2a · Program service revenue: SPONSORSHIPS

    total $162,500 · related or exempt $162,500

  • 2b · Program service revenue: VENDOR AND ADMISSIONS

    total $95,714 · related or exempt $95,714

  • 2c · Program service revenue: MERCHANDISE SALES

    total $69,059 · related or exempt $69,059

  • 3 · Investment income

    total $2 · related or exempt $2

  • 11d · All other revenue

    total $308 · related or exempt $308

  • 11e · Other revenue, total

    $308

Functional expenses

Part IX, the statement of functional expenses.

  • 12 · Advertising and promotion

    total $30,372 · program services $30,372

  • 13 · Office expenses

    total $787 · management and general $787

  • 17 · Travel

    total $4,518 · program services $4,518

  • 23 · Insurance

    total $15,211 · program services $15,211

  • 24a · Other expenses: EVENT EXPENSES

    total $215,969 · program services $215,969

  • 24b · Other expenses: UTILITIES

    total $3,104 · program services $282 · management and general $2,822

  • 24c · Other expenses: LICENSES AND PERMITS

    total $3,766 · program services $3,766

  • 24e · All other expenses

    total $20,492 · program services $8,728 · management and general $11,764

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $96,568 · end of year $100,028

  • 2 · Savings and temporary cash investments

    end of year $21,873

  • 4 · Accounts receivable

    end of year $615

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,705 · end of year $1,789

  • 19 · Deferred revenue

    beginning of year $11,000 · end of year $750

  • 31 · Retained earnings, endowment or other funds

    beginning of year $82,863 · end of year $119,977

Mission and programs · 2023

Mission

BENEFIT AND DEVELOPMENT OF THE CITY OF MORGANTON COMMUNITY

  • FESTIVAL: A TWO DAY DOWNTOWN FESTIVAL FEATURING EVENTS WITH EXPENSES TOTALLING $ 192 752FRIDAY NIGHT: A SERIES OF APPROXIMATELY 13 FRIDAY NIGHT EVENTS WITH EXPENSES TOTALLING $ 54 865FARMERS MARKETS: A SERIES OF EVENTS FEATURING SEASONAL FARMERS MARKET WITH EXPENSES TOTALLING $ 11 357MADE: ARTS & DESIGN ENGINEERING CHALLENGE FOR MIDDLE & HIGH SCHOOLERS WITH EXPENSES TOTALLING $ 19 872

    Expenses $278,846

As filed on the 2023 return.

Listed in Part VII

  • STEVE GREGORY

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • FONS GILES

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • EDDIE MCGIMSEY

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ED PHILLIPS

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GENE REIHL

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TAMERA SUTHER

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRYAN BLACK

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • TOM PEELER

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • JUDY WILLIS

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • SHARON JABLONSKI

    PROGRAM DIRECTOR

    Total calculated
    $0
    Hours/week
    10

  • GENE WILLARD

    BOARD DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DIANNE REIHL

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MARLA BLACK

    2ND VICE PRESIDENT

    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
30 April 2024
IRS schema version
2023v5.0
Source object
202401359349301830

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