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Nonprofiteer
← ALBUQUERQUE INTERNATIONAL BALLOON FIESTA INC

Form 990 for tax year 2024

Filed by ALBUQUERQUE INTERNATIONAL BALLOON FIESTA INC.

Totals

Total revenue
$17,268,678
Total expenses
$15,527,477
Contributions and grants received
$5,140
Grants paid
$0
Program service revenue
$14,999,061
Investment income
$489,841
Other revenue
$1,774,636
Total assets, end of year
$22,070,620
Total liabilities, end of year
$2,644,712
Net assets or fund balances, end of year
$19,425,908
Program services expenses (Part IX)
$12,767,894
Management and general expenses
$2,759,583
Fundraising expenses
$0
Program service expenses (Part III)
$12,767,894

Program services were 82.2% 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.

  • 1f · All other contributions, gifts and grants

    $5,140

  • 2a · Program service revenue: EVENT INCOME

    total $11,511,215 · related or exempt $11,511,215

  • 2b · Program service revenue: SPONSORS

    total $3,487,846 · related or exempt $3,487,846

  • 3 · Investment income

    total $398,210 · excluded $398,210

  • 7a · Gross sales of assets other than inventory

    securities $2,768,343

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

    securities $2,676,712

  • 7c · Gain or loss

    securities $91,631

  • 7d · Net gain or loss

    total $91,631 · excluded $91,631

  • 10a · Gross sales of inventory

    $2,662,151

  • 10b · Cost of goods sold

    $1,089,935

  • 10c · Net income from sales of inventory

    total $1,572,216 · related or exempt $1,572,216

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $202,420 · related or exempt $202,420

  • 11e · Other revenue, total

    $202,420

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $236,926 · program services $118,463 · management and general $118,463

  • 7 · Other salaries and wages

    total $1,289,648 · program services $462,922 · management and general $826,726

  • 8 · Pension plan contributions

    total $31,842 · program services $14,985 · management and general $16,857

  • 9 · Other employee benefits

    total $50,729 · program services $23,873 · management and general $26,856

  • 10 · Payroll taxes

    total $123,611 · program services $58,171 · management and general $65,440

  • 11b · Fees: legal

    total $130,110 · management and general $130,110

  • 11c · Fees: accounting

    total $23,373 · management and general $23,373

  • 11f · Fees: investment management

    total $35,101 · management and general $35,101

  • 11g · Fees: other

    total $3,556,743 · program services $3,556,743

  • 12 · Advertising and promotion

    total $459,928 · management and general $459,928

  • 13 · Office expenses

    total $1,618,350 · program services $1,569,673 · management and general $48,677

  • 16 · Occupancy

    total $344,934 · program services $267,010 · management and general $77,924

  • 17 · Travel

    total $52,179 · program services $3,391 · management and general $48,788

  • 19 · Conferences, conventions and meetings

    total $7,293 · program services $7,293

  • 22 · Depreciation, depletion and amortization

    total $425,392 · management and general $425,392

  • 23 · Insurance

    total $230,681 · program services $8,829 · management and general $221,852

  • 24a · Other expenses: EVENT EXPENSE

    total $2,827,346 · program services $2,827,346

  • 24b · Other expenses: EQUIPMENT LEASE AND MAI

    total $1,523,536 · program services $1,357,294 · management and general $166,242

  • 24c · Other expenses: CONCESSIONS

    total $1,461,732 · program services $1,461,732

  • 24d · Other expenses: SPONSORSHIP EXPENSE

    total $904,827 · program services $904,827

  • 24e · All other expenses

    total $193,196 · program services $125,342 · management and general $67,854

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,204,258 · end of year $9,520,281

  • 4 · Accounts receivable

    beginning of year $74,650 · end of year $58,800

  • 8 · Inventories for sale or use

    beginning of year $188,430 · end of year $273,007

  • 9 · Prepaid expenses and deferred charges

    beginning of year $49,432 · end of year $64,389

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

    $10,914,048

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

    $3,914,244

  • 10c · Land, buildings and equipment, net

    beginning of year $6,996,573 · end of year $6,999,804

  • 11 · Investments: publicly traded securities

    beginning of year $2,533,137 · end of year $5,080,106

  • 15 · Other assets

    beginning of year $17,996 · end of year $74,233

  • 17 · Accounts payable and accrued expenses

    beginning of year $180,030 · end of year $222,104

  • 19 · Deferred revenue

    beginning of year $386,900 · end of year $2,348,375

  • 24 · Unsecured notes and loans payable

    beginning of year $17,996 · end of year $74,233

  • 27 · Net assets without donor restrictions

    beginning of year $17,479,550 · end of year $19,425,908

Mission and programs · 2024

Mission

SEE SCHEDULE O

Activities or mission (Part I)

ORGANIZE AND OPERATE THE ANNUAL ALBUQUERQUE INTERNATIONAL BALLOON FIESTA.

  • ORGANIZE AND OPERATE THE ALBUQUERQUE INTERNATIONAL BALLOON FIESTA HELD FROM OCTOBER 5, 2024 THROUGH OCTOBER 15, 2024. ESTIMATED ATTENDANCE FOR THE EVENT WAS 838,337.

    Expenses $12,767,894 · Revenue $16,773,697

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Neil Jackson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2.2

  • Mark Sullivan

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    2.2

  • Gary Bennett

    SECRETARY

    Total calculated
    $0
    Hours/week
    2.2

  • Jeff Lawrence

    TREASURER

    Total calculated
    $0
    Hours/week
    2.2

  • Jr Allison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Tania Armenta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Ray Bair

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Peg Billson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Jay Czar

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • John C Davis IV

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Barbara Fricke

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Jim Garcia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Matt Guthrie

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Steven A Komadina MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Jerry Lovato

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Jj Mancini

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Rodney May

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Tom McConnell MD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Richard Rice

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Harry Season

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • John R Sena

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Al Tetreault

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Bill Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Tyler Young

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2.2

  • Paul R Smith

    EXECUTIVE DIRECTOR (THRU 8/24)

    Total calculated
    $180,003
    From this org
    $180,003
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $180,003
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $180,003

  • Julie Morgas-Baca

    EXECUTIVE DIRECTOR (AS OF 9/24)

    Total calculated
    $56,923
    From this org
    $56,923
    From related orgs
    $0
    Other
    $0
    Hours/week
    60

  • Lisa M Mulder

    MERCHANDISE MANAGER

    Total calculated
    $130,920
    From this org
    $125,885
    From related orgs
    $0
    Other
    $5,035
    Hours/week
    50

  • Stephanie Prendergast

    SPONSORSHIP SALES DIRECTOR

    Total calculated
    $123,748
    From this org
    $110,964
    From related orgs
    $0
    Other
    $12,784
    Hours/week
    50

  • Sam Parks

    DIRECTOR OF OPERATIONS

    Total calculated
    $107,466
    From this org
    $103,333
    From related orgs
    $0
    Other
    $4,133
    Hours/week
    50

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 5a · Pay contingent on this organization's revenues
  • 7 · Other non-fixed payments

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
SAM PARKS RECEIVED $103,333 OF SEVERANCE.
PART I, LINE 5
COMMISSIONS PAID ON MERCHANDISE AND SPONSORSHIP SALES
PART I, LINE 7
THE BOARD OF DIRECTORS APPROVES A DISCRETIONARY BONUS PLAN FOR VARIOUS EMPLOYEES EACH YEAR.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202503149349303410

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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