Form 990 for tax year 2023
Filed by MEMPHIS IN MAY INTERNATIONAL FESTIVAL INC.
Totals
- Total revenue
- $2,461,409
- Total expenses
- $3,177,653
- Contributions and grants received
- $979,000
- Grants paid
- $0
- Program service revenue
- $1,169,823
- Investment income
- $328,102
- Other revenue
- -$15,516
- Total assets, end of year
- $1,648,924
- Total liabilities, end of year
- $416,201
- Net assets or fund balances, end of year
- $1,232,723
- Program services expenses (Part IX)
- $2,504,014
- Management and general expenses
- $673,639
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $2,504,014
Program services were 78.8% 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.
-
1f · All other contributions, gifts and grants
$979,000
-
2a · Program service revenue: FESTIVAL EVENTS
total $1,169,823 · related or exempt $1,169,823
-
3 · Investment income
total $28,306 · excluded $28,306
-
6b · Less rental expenses
real property $16,167
-
6c · Rental income or loss
real property -$16,167
-
6d · Net rental income or loss
total -$16,167 · related or exempt -$16,167
-
7a · Gross sales of assets other than inventory
other assets $1,550,000
-
7b · Less cost or other basis and sales expenses
other assets $1,250,204
-
7c · Gain or loss
other assets $299,796
-
7d · Net gain or loss
total $299,796 · excluded $299,796
-
10a · Gross sales of inventory
$51,549
-
10b · Cost of goods sold
$54,986
-
10c · Net income from sales of inventory
total -$3,437 · related or exempt -$3,437
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $4,088 · related or exempt $4,088
-
11e · Other revenue, total
$4,088
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $157,232 · program services $157,232
-
7 · Other salaries and wages
total $610,108 · program services $610,108
-
8 · Pension plan contributions
total $28,867 · management and general $28,867
-
9 · Other employee benefits
total $54,427 · program services $54,427
-
10 · Payroll taxes
total $63,753 · program services $63,753
-
11b · Fees: legal
total $32,202 · management and general $32,202
-
11c · Fees: accounting
total $35,276 · management and general $35,276
-
11g · Fees: other
total $745,637 · program services $583,781 · management and general $161,856
-
12 · Advertising and promotion
total $51,477 · program services $38,900 · management and general $12,577
-
13 · Office expenses
total $175,716 · program services $31,285 · management and general $144,431
-
16 · Occupancy
total $142,480 · management and general $142,480
-
17 · Travel
total $14,354 · management and general $14,354
-
20 · Interest
total $18,650 · management and general $18,650
-
22 · Depreciation, depletion and amortization
total $81,487 · management and general $81,487
-
24a · Other expenses: PROGRAM EVENT EXPENSES
total $883,075 · program services $883,075
-
24b · Other expenses: HOSPITALITY - SPONSORS,
total $25,227 · program services $25,227
-
24c · Other expenses: CLEAN UP - GENERAL
total $23,004 · program services $23,004
-
24d · Other expenses: MISCELLANEOUS
total $18,662 · program services $18,662
-
24e · All other expenses
total $16,019 · program services $14,560 · management and general $1,459
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,786,213 · end of year $1,091,925
-
4 · Accounts receivable
beginning of year $793,060 · end of year $42,740
-
8 · Inventories for sale or use
beginning of year $4,500 · end of year $4,500
-
9 · Prepaid expenses and deferred charges
beginning of year $33,668 · end of year $8,452
-
10a · Land, buildings and equipment: cost or other basis
$2,102,147
-
10b · Land, buildings and equipment: accumulated depreciation
$1,600,840
-
10c · Land, buildings and equipment, net
beginning of year $1,813,056 · end of year $501,307
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $1,108,247 · end of year $264,823
-
19 · Deferred revenue
beginning of year $52,069 · end of year $12,717
-
23 · Secured mortgages and notes payable
beginning of year $2,321,214 · end of year $138,661
-
27 · Net assets without donor restrictions
beginning of year $1,948,967 · end of year $1,232,723
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2023
Mission
ORGANIZED FOR THE PURPOSE OF PROVIDING AND SUPPORTING RECREATIONAL, EDUCATIONAL, SOCIAL AND CULTURAL EVENTS AND ACTIVITIES, FOR THE CELEBRATION OF THE CITY OF MEMPHIS, PEOPLE OF MEMPHIS, AND THE PEOPLE OF OTHER CULTURES AND COUNTRIES OF THE WORLD BY INTRODUCING MEMPHIS TO THE WORLD AND THE WORLD TO MEMPHIS THROUGH THESE ANNUAL EVENTS AND ACTIVITIES THAT HONOR A SELECTED COUNTRY OF THE WORLD.
Activities or mission (Part I)
MEMPHIS IN MAY INTERNATIONAL FESTIVAL, INC. WAS ORGANIZED FOR THE PURPOSE OF PROVIDING AND SUPPORTING RECREATIONAL, EDUCATIONAL, SOCIAL AND CULTURAL EVENTS AND ACTIVITIES, FOR THE CELEBRATION OF THE CITY OF MEMPHIS, PEOPLE OF MEMPHIS, AND THE PEOPLE OF OTHER CULTURES AND COUNTRIES OF THE WORLD BY INTRODUCING MEMPHIS TO THE WORLD AND THE WORLD TO MEMPHIS THROUGH THESE ANNUAL EVENTS AND ACTIVITIES THAT HONOR A SELECTED COUNTRY OF THE WORLD.
-
PROVIDING AND SUPPORTING EVENTS AND ACTIVITIES FOR THE BEALE STREET MUSIC FESTIVAL (BSMF); PROVIDING AND SUPPORTING EVENTS AND ACTIVITIES FOR THE WORLD CHAMPIONSHIP BARBEQUE COOKING CONTEST (WCBCC); PROVIDING AND SUPPORTING EVENTS AND ACTIVITIES FOR THE SHELBY COUNTY CELEBRATION (SC) AND THE GREAT AMERICAN RIVER RUN (GARR); PROVIDING AND SUPPORTING INTERNATIONAL AND DIPLOMAT EVENTS AND ACTIVITIES THAT HONOR THE SELECTED COUNTRY (INTL)AND EDUCATION ACTIVITIES (ED), INCLUDING YEAR LONG SUPPORT FOR THE BSMF, WCBCC, GARR, INTL, EDUCATION AND VOLUNTEER EVENTS AND ACTIVITIES.
Expenses $2,504,014 · Revenue $1,154,307
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Leigh ShockeyLEIGH SHOCKEY
PAST CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Al GossettAL GOSSETT
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 2
-
Doug BrowneDOUG BROWNE
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Wayne TaborWAYNE TABOR
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Velvet GrahamVELVET GRAHAM
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Ron ColemanRON COLEMAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Shawn DankoSHAWN DANKO
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Dr Lasanya HallDR LASANYA HALL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Jennifer RichardsonJENNIFER RICHARDSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Howard RobertsonHOWARD ROBERTSON
CHAIR ELECT
- Total calculated
- $0
- Hours/week
- 2
-
Andrew RussellANDREW RUSSELL
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Ernest StricklandERNEST STRICKLAND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Vicki BuckVICKI BUCK
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mina BectonMINA BECTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Brett MullisBRETT MULLIS
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Ted TownsendTED TOWNSEND
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Yolanda Cooper-SuttonYOLANDA COOPER-SUTTON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mickell LoweryMICKELL LOWERY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Pat TiggrettPAT TIGGRETT
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 2
-
Mack WeaverMACK WEAVER
CEO AND PRESIDENT
- Total calculated
- $174,312
- From this org
- $160,990
- From related orgs
- $0
- Other
- $13,322
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $160,990
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $13,322
- Filer's total
- $174,312
-
James L HoltJAMES L HOLT
PAST PRESIDENT AND CEO
- Total calculated
- $211,356
- From this org
- $197,230
- From related orgs
- $0
- Other
- $14,126
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $197,230
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $14,126
- Filer's total
- $211,356
-
Kevin GrotheKEVIN GROTHE
VP OF SPONSORSHIP
- Total calculated
- $154,593
- From this org
- $142,627
- From related orgs
- $0
- Other
- $11,966
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $142,627
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $11,966
- Filer's total
- $154,593
-
Randy M BlevinsRANDY M BLEVINS
VP OF MARKETING
- Total calculated
- $114,693
- From this org
- $114,693
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
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
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 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
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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
- 2023
- Filed
- 8 March 2025
- IRS schema version
- 2023v6.0
- Source object
- 202530769349301123
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