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Nonprofiteer
← FOLK SCHOOL OF FAYETTEVILLE INC

Form 990 for tax year 2023

Filed by FOLK SCHOOL OF FAYETTEVILLE INC.

Totals

Total revenue
$184,466
Total expenses
$148,614
Contributions and grants received
$62,746
Grants paid
$0
Program service revenue
$121,621
Investment income
$0
Other revenue
$99
Total assets, end of year
$210,569
Total liabilities, end of year
$156,909
Net assets or fund balances, end of year
$53,660
Program services expenses (Part IX)
$86,637
Management and general expenses
$57,426
Fundraising expenses
$4,551
Program service expenses (Part III)
$86,637

Program services were 58.3% 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.

  • 1d · Related organizations

    $6,978

  • 1e · Government grants (contributions)

    $55,768

  • 2a · Program service revenue: GENERAL REVNUE

    total $121,621 · related or exempt $121,621

  • 11a · Other revenue: REFUND REVENUE

    total $99 · related or exempt $99

  • 11e · Other revenue, total

    $99

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $13,798 · program services $13,798

  • 10 · Payroll taxes

    total $16,044 · program services $8,022 · management and general $8,022

  • 11c · Fees: accounting

    total $4,010 · management and general $4,010

  • 11g · Fees: other

    total $11,135 · program services $9,471 · management and general $1,664

  • 12 · Advertising and promotion

    total $3,969 · program services $3,969

  • 13 · Office expenses

    total $3,942 · management and general $3,942

  • 14 · Information technology

    total $1,632 · program services $1,632

  • 17 · Travel

    total $3,213 · program services $3,213

  • 19 · Conferences, conventions and meetings

    total $12,092 · program services $12,092

  • 20 · Interest

    total $702 · management and general $702

  • 22 · Depreciation, depletion and amortization

    total $16,230 · program services $16,230

  • 23 · Insurance

    total $3,990 · program services $3,591 · management and general $399

  • 24a · Other expenses: EQUIPMENT, WARES, FURNITU

    total $32,869 · management and general $32,869

  • 24b · Other expenses: GENERAL REFUNDS

    total $6,432 · program services $6,432

  • 24c · Other expenses: FUNDRAISING CAMPAIGN EXPE

    total $4,551 · fundraising $4,551

  • 24d · Other expenses: UTILITIES

    total $3,708 · program services $1,854 · management and general $1,854

  • 24e · All other expenses

    total $10,297 · program services $6,333 · management and general $3,964

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $32,633 · end of year $97,047

  • 8 · Inventories for sale or use

    beginning of year $9,320 · end of year $2,473

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

    $163,699

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

    $52,650

  • 10c · Land, buildings and equipment, net

    beginning of year $125,057 · end of year $111,049

  • 17 · Accounts payable and accrued expenses

    beginning of year $235 · end of year $13,341

  • 24 · Unsecured notes and loans payable

    beginning of year $150,000 · end of year $143,568

  • 27 · Net assets without donor restrictions

    beginning of year $16,775 · end of year $53,660

Mission and programs · 2023

Mission

BUILD COMMUNITY THROUGH EDUCATION AND CONCERTS/FESTIVALS THAT PROMOTE THE PERPETUATION OF TRADITIONAL AMERICAN AND WORLD MUSIC, CULINARY ARTS, AND FOLK LIFE.

Activities or mission (Part I)

BUILD COMMUNITY THROUGH EDUCATION AND CONCERTS/FESTIVALS THAT PROMOTE THE PERPETUATION OF TRADITIONAL AMERICAN AND WORLD MUSIC AND FOLK LIFE.

  • BUILD COMMUNITY THROUGH EDUCATION AND CONCERTS/FESTIVALS THAT PROMOTE THE PERPETUATION OF TRADITIONAL AMERICAN AND WORLD MUSIC, CULINARY ARTS, AND FOLK LIFE.

    Expenses $70,407

  • A 501(C)3 ORGANIZATION WITH A MISSION TO CONNECT AND BUILD COMMUNITY THROUGH MUSIC AND FOOD. WE PRODUCE THE FAYETTEVILLE ROOTS FESTIVAL, OPERATE A HISTORIC MUSIC VENUE, THE ROOTS HQ, ON THE DOWNTOWN FAYETTEVILLE SQUARE, AND LEAD YEAR-ROUND MUSIC AND FOOD EDUCATION AND COMMUNITY PROGRAMMING IN NORTHWEST ARKANSAS.

    Expenses $16,230

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Bernice C Hembree

    OFFICER

    Total calculated
    $11,400
    From this org
    $11,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Jeremy Gawthrop

    OFFICER

    Total calculated
    $0
    Hours/week
    5

  • Sterling Hamilton

    OFFICER

    Total calculated
    $0
    Hours/week
    5

  • Bryan C Hembree

    OFFICER

    Total calculated
    $0
    Hours/week
    20

  • Neal Pendergraft

    OFFICER

    Total calculated
    $0
    Hours/week
    5

  • Jackie Telfair

    OFFICER

    Total calculated
    $0
    Hours/week
    5

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
15 November 2024
IRS schema version
2023v5.0
Source object
202413209349325881

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