Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $100,000

• 1e · Government grants (contributions)

  $134,400

• 1f · All other contributions, gifts and grants

  $12,490,164

• 1g · Noncash contributions included above

  $50,077

• 2a · Program service revenue: FESTIVALS & OTHER EVENTS

  total $42,132,600 · related or exempt $40,494,231 · unrelated business $1,638,369

• 2b · Program service revenue: PARKING REVENUE

  total $1,243,927 · unrelated business $26,360 · excluded $1,217,567

• 2c · Program service revenue: GIFT AND SOUVENIOR SALES

  total $401,919 · unrelated business $401,919

• 2d · Program service revenue: CONSULTING & SIGNS SERVICES

  total $204,875 · unrelated business $204,875

• 2f · All other program service revenue

  total $83,624 · related or exempt $83,624

• 3 · Investment income

  total $108,605 · excluded $108,605

• 5 · Royalties

  total $251,325 · excluded $251,325

• 6a · Gross rents

  real property $2,285,062 · personal property $594,163

• 6b · Less rental expenses

  real property $1,173,508 · personal property $0

• 6c · Rental income or loss

  real property $1,111,554 · personal property $594,163

• 6d · Net rental income or loss

  total $1,705,717 · related or exempt $650,260 · unrelated business $792,769 · excluded $262,688

• 7a · Gross sales of assets other than inventory

  other assets $300

• 7b · Less cost or other basis and sales expenses

  other assets $0

• 7c · Gain or loss

  other assets $300

• 7d · Net gain or loss

  total $300 · excluded $300

• 8a · Fundraising events: gross income

  $251,036

• 8a · Fundraising events: contributions included on line 1c

  $100,000

• 8b · Fundraising events: direct expenses

  $322,988

• 8c · Net income from fundraising events

  total -$71,952 · excluded -$71,952

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $5,059,869 · program services $2,330,955 · management and general $2,242,252 · fundraising $486,662

• 7 · Other salaries and wages

  total $4,495,154 · program services $5,639,593 · management and general -$1,488,238 · fundraising $343,799

• 9 · Other employee benefits

  total $489,482 · program services $388,137 · management and general $71,678 · fundraising $29,667

• 10 · Payroll taxes

  total $929,758 · program services $459,795 · management and general $438,191 · fundraising $31,772

• 11b · Fees: legal

  total $25,607 · management and general $25,607

• 11c · Fees: accounting

  total $33,520 · management and general $33,520

• 11g · Fees: other

  total $3,989,806 · program services $3,728,539 · management and general $261,267

• 12 · Advertising and promotion

  total $2,739,021 · program services $2,689,107 · management and general $13,512 · fundraising $36,402

• 13 · Office expenses

  total $1,773,942 · program services $935,115 · management and general $838,827

• 14 · Information technology

  total $138,020 · management and general $138,020

• 16 · Occupancy

  total $2,668,418 · program services $1,778,596 · management and general $889,822

• 17 · Travel

  total $10,542 · management and general $10,542

• 19 · Conferences, conventions and meetings

  total $21,090 · program services $1,245 · management and general $19,845

• 20 · Interest

  total $1,374,481 · program services $1,374,481

• 22 · Depreciation, depletion and amortization

  total $12,156,226 · program services $11,517,036 · management and general $639,190

• 23 · Insurance

  total $632,199 · program services $34,322 · management and general $597,877

• 24a · Other expenses: ENTERTAINER AND PRODUCT

  total $23,572,532 · program services $23,572,532

• 24b · Other expenses: FESTIVAL EXPENSES

  total $4,257,856 · program services $4,217,064 · management and general $59 · fundraising $40,733

• 24c · Other expenses: EQUIPMENT AND SUPPLIES

  total $2,817,235 · program services $2,728,873 · management and general $88,362

• 24d · Other expenses: SITE STAGING AND SUPPLI

  total $219,451 · program services $219,451

• 24e · All other expenses

  total $677,024 · program services $611,272 · management and general $65,752

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $418,606 · end of year $446,757

• 2 · Savings and temporary cash investments

  beginning of year $3,420,418 · end of year $5,552,007

• 3 · Pledges and grants receivable

  beginning of year $2,010,414 · end of year $1,320,243

• 4 · Accounts receivable

  beginning of year $2,364,623 · end of year $1,343,573

• 8 · Inventories for sale or use

  beginning of year $171,331 · end of year $255,924

• 9 · Prepaid expenses and deferred charges

  beginning of year $58,399 · end of year $316,505

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

  $189,802,689

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

  $105,319,421

• 10c · Land, buildings and equipment, net

  beginning of year $95,599,688 · end of year $84,483,268

• 11 · Investments: publicly traded securities

  end of year $7,500,000

• 15 · Other assets

  beginning of year $2,447,965 · end of year $15,128,999

• 17 · Accounts payable and accrued expenses

  beginning of year $2,265,120 · end of year $1,797,644

• 19 · Deferred revenue

  beginning of year $31,253,194 · end of year $34,192,996

• 20 · Tax-exempt bond liabilities

  beginning of year $15,662,852 · end of year $15,668,788

• 23 · Secured mortgages and notes payable

  beginning of year $17,011,665 · end of year $20,772,053

• 25 · Other liabilities

  beginning of year $8,142,247 · end of year $16,946,072

• 27 · Net assets without donor restrictions

  beginning of year $32,156,366 · end of year $26,969,723

The filer's explanations (Part III)

PART I, LINE 1A

THE CHIEF EXECUTIVE OFFICER OF THE ORGANIZATION RECEIVES TWO MEMBERSHIPS TO CLUBS. THE PERSONAL USE OF THE CLUBS IS REPORTED AS TAXABLE COMPENSATION. THE COST OF THE BENEFIT TO THE ORGANIZATION IS $10,505.

PART I, LINE 7

ALL BONUS PAYMENTS AND COMMISSIONS ARE CONSIDERED FIXED. BONUSES ARE SET AS A PERCENTAGE OF COMPENSATION BASED ON AN INDIVIDUAL'S PERFORMANCE RATINGS AND COMPANY MEETING BUDGET. COMMISSIONS ARE A FIXED AMOUNT PAID BASED ON INCREMENTAL REVENUE.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MWF LLC

  SEE PART VII · WI · income $10,072,807 · assets $249,682

  Directly controlled by MILWAUKEE WORLD FESTIVAL INC