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Nonprofiteer
← VAIL VALLEY FOUNDATION INC

Form 990 for tax year 2022

Filed by VAIL VALLEY FOUNDATION INC.

Totals

Total revenue
$16,349,038
Total expenses
$17,260,616
Contributions and grants received
$8,331,628
Grants paid
$1,872,526
Program service revenue
$7,759,542
Investment income
$136,383
Other revenue
$121,485
Total assets, end of year
$23,091,607
Total liabilities, end of year
$8,555,027
Net assets or fund balances, end of year
$14,536,580
Program services expenses (Part IX)
$13,160,119
Management and general expenses
$2,060,293
Fundraising expenses
$2,040,204
Program service expenses (Part III)
$13,160,119

Program services were 76.2% 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.

  • 1c · Fundraising events

    $1,041,787

  • 1d · Related organizations

    $21,844

  • 1f · All other contributions, gifts and grants

    $7,267,997

  • 1g · Noncash contributions included above

    $1,342,969

  • 2a · Program service revenue: GOPRO MOUNTAIN GAMES

    total $2,489,647 · related or exempt $2,489,647

  • 2b · Program service revenue: BIRDS OF PREY

    total $2,470,150 · related or exempt $2,470,150

  • 2c · Program service revenue: VAIL DANCE FESTIVAL

    total $1,189,119 · related or exempt $1,189,119

  • 2d · Program service revenue: WHISTLE PIG VAIL CONCERT SERIES

    total $715,364 · related or exempt $715,364

  • 2e · Program service revenue: GERALD R. FORD AMPHITHEATER

    total $592,086 · related or exempt $592,086

  • 2f · All other program service revenue

    total $303,176 · related or exempt $303,176

  • 3 · Investment income

    total $206,926 · unrelated business $390 · excluded $206,536

  • 7a · Gross sales of assets other than inventory

    securities $805,232

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

    securities $804,154 · other assets $71,621

  • 7c · Gain or loss

    securities $1,078 · other assets -$71,621

  • 7d · Net gain or loss

    total -$70,543 · excluded -$70,543

  • 8a · Fundraising events: gross income

    $85,120

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

    $1,041,787

  • 8b · Fundraising events: direct expenses

    $260,139

  • 8c · Net income from fundraising events

    total -$175,019 · excluded -$175,019

  • 10a · Gross sales of inventory

    $301,791

  • 10b · Cost of goods sold

    $5,287

  • 10c · Net income from sales of inventory

    total $296,504 · related or exempt $296,504

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,872,526 · program services $1,872,526

  • 5 · Compensation of officers, directors and key employees

    total $1,338,109 · program services $1,112,072 · management and general $226,037

  • 7 · Other salaries and wages

    total $2,580,185 · program services $900,715 · management and general $530,294 · fundraising $1,149,176

  • 8 · Pension plan contributions

    total $124,775 · program services $41,103 · management and general $42,130 · fundraising $41,542

  • 9 · Other employee benefits

    total $430,070 · program services $106,846 · management and general $146,254 · fundraising $176,970

  • 10 · Payroll taxes

    total $311,034 · program services $147,273 · management and general $57,955 · fundraising $105,806

  • 11b · Fees: legal

    total $140,525 · program services $31,574 · management and general $108,177 · fundraising $774

  • 11c · Fees: accounting

    total $15,862 · management and general $15,862

  • 11f · Fees: investment management

    total $31,049 · management and general $31,049

  • 11g · Fees: other

    total $160,359 · management and general $63,902 · fundraising $96,457

  • 12 · Advertising and promotion

    total $880,966 · program services $778,540 · management and general $576 · fundraising $101,850

  • 13 · Office expenses

    total $194,190 · program services $130,796 · management and general $37,634 · fundraising $25,760

  • 14 · Information technology

    total $216,236 · program services $37,640 · management and general $178,596

  • 16 · Occupancy

    total $916,182 · program services $714,644 · management and general $201,538

  • 17 · Travel

    total $289,787 · program services $269,783 · management and general $11,538 · fundraising $8,466

  • 20 · Interest

    total $144,559 · program services $49,585 · management and general $94,974

  • 22 · Depreciation, depletion and amortization

    total $1,010,443 · program services $843,857 · management and general $166,586

  • 23 · Insurance

    total $304,139 · program services $191,427 · management and general $112,712

  • 24a · Other expenses: SITE PREPARATION

    total $1,607,146 · program services $1,602,000 · management and general $5,146

  • 24b · Other expenses: PERFORMERS, TALENT & SP

    total $1,558,237 · program services $1,558,237

  • 24c · Other expenses: PRODUCTION EXPENSE

    total $1,236,230 · program services $1,231,120 · management and general $860 · fundraising $4,250

  • 24d · Other expenses: CONCESSIONS AND SOCIAL

    total $671,197 · program services $603,816 · fundraising $67,381

  • 24e · All other expenses

    total $1,226,810 · program services $936,565 · management and general $28,473 · fundraising $261,772

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,468,110 · end of year $1,322,094

  • 3 · Pledges and grants receivable

    beginning of year $313,221 · end of year $854,419

  • 4 · Accounts receivable

    beginning of year $220,372 · end of year $173,481

  • 9 · Prepaid expenses and deferred charges

    beginning of year $739,806 · end of year $923,914

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

    $24,511,601

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

    $13,336,618

  • 10c · Land, buildings and equipment, net

    beginning of year $10,991,874 · end of year $11,174,983

  • 11 · Investments: publicly traded securities

    beginning of year $6,924,319 · end of year $7,423,163

  • 14 · Intangible assets

    beginning of year $361,918 · end of year $316,678

  • 15 · Other assets

    beginning of year $973,617 · end of year $902,875

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,618,763 · end of year $983,411

  • 19 · Deferred revenue

    beginning of year $2,950,055 · end of year $3,445,964

  • 20 · Tax-exempt bond liabilities

    beginning of year $2,959,226 · end of year $2,598,009

  • 23 · Secured mortgages and notes payable

    end of year $805,793

  • 25 · Other liabilities

    beginning of year $150,485 · end of year $721,850

  • 27 · Net assets without donor restrictions

    beginning of year $8,262,883 · end of year $6,786,691

  • 28 · Net assets with donor restrictions

    beginning of year $7,051,825 · end of year $7,749,889

Mission and programs · 2022

Mission

VAIL VALLEY FOUNDATION WAS CREATED TO ENHANCE THE QUALITY OF LIFE IN THE VAIL VALLEY AND SHOWCASE OUR COMMUNITY TO A GLOBAL AUDIENCE THROUGH ARTS, ATHLETICS, AND EDUCATION.

Activities or mission (Part I)

TO ENHANCE THE QUALITY OF LIFE IN THE VAIL VALLEY AND SHOWCASE OUR COMMUNITY TO A GLOBAL AUDIENCE THROUGH ARTS, ATHLETICS AND EDUCATION.

  • VAIL VALLEY FOUNDATION HOSTS THE BIRDS OF PREY WORLD CUP INTERNATIONAL ALPINE SKI RACE ANNUALLY. THE RACE CONSISTS OF A WORLD CUP MEN'S SUPER-COMBINED, WORLD CUP MEN'S DOWNHILL, AND A WORLD CUP MEN'S SLALOM COMPETITION. THIS ATHLETIC EVENT ATTRACTS PEOPLE FROM AROUND THE WORLD HELPING TO PROMOTE THE TOWN OF VAIL AND THE QUALITY OF LIFE IN THE VAIL VALLEY AREA.

    Expenses $3,987,119 · Revenue $2,470,150

  • VAIL VALLEY FOUNDATION HOLDS THE VAIL DANCE FESTIVAL EVERY YEAR. THE FESTIVAL INCLUDES SEVERAL PERFORMANCES BY INTERNATIONAL COUPLES AND ENSEMBLES FROM MAJOR INTERNATIONAL COMPANIES HELD AT THE GERALD R. FORD AMPHITHEATER. THE PERFORMANCES VARY FROM YEAR TO YEAR, BUT FREQUENTLY INCLUDE GUEST ARTISTS FROM THE AMERICAN BALLET THEATRE AND OTHER WORLD-CLASS COMPANIES. THE FESTIVAL PROVIDES EDUCATION AND ENHANCES THE APPRECIATION AND AVAILABILITY OF DANCE IN THE VAIL COMMUNITY.

    Expenses $3,928,992 · Revenue $1,189,119

  • VAIL VALLEY FOUNDATION HOLDS THE GOPRO MOUNTAIN GAMES ANNUALLY. THE EVENT IS THE COUNTRY'S LARGEST CELEBRATION OF MOUNTAIN SPORT, SOUL, AND CULTURE AND OCCURS ANNUALLY DURING THE SECOND WEEKEND OF JUNE. PROFESSIONAL AND AMATEUR OUTDOOR ADVENTURE ATHLETES FROM AROUND THE WORLD CONVERGE UPON THE MOUNTAINS AND RIVERS OF VAIL TO COMPETE IN EIGHT SPORTS AND TWENTY-ONE DISCIPLINES. IN ADDITION TO THE ATHLETIC EVENTS, THE MOUNTAIN GAMES INCLUDE A MOUNTAIN PHOTOGRAPHY COMPETITION, INTERACTIVE EXHIBITION AND DEMO AREA, LIVE MUSIC, AND MOUNTAIN LIFESTYLE PARTIES.

    Expenses $3,301,001 · Revenue $2,489,647

  • VAIL VALLEY FOUNDATION HOSTS AND SPONSORS A VARIETY OF OTHER EVENTS IN THE VAIL VALLEY AREA INCLUDING HOT SUMMER NIGHTS, SHOW DOWN TOWN, AND WHISTLE PIG VAIL. THE EVENTS HELP TO SUPPORT A VARIETY OF EDUCATIONAL PROGRAMS, OTHER NONPROFIT ORGANIZATIONS, STRENGTHENING FAMILIES WITHIN THE COMMUNITY, AND KEEPING THE COMMUNITY VITAL AND EXCITING.

    Expenses $1,943,007 · Grants $1,872,526 · Revenue $1,907,130

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MICHAEL IMHOF

    PRESIDENT AND CEO

    Total calculated
    $412,512
    From this org
    $375,519
    From related orgs
    $0
    Other
    $36,993
    Hours/week
    40 + 15 related

    Schedule J breakdown matched by us

    Base
    $312,483
    Bonus
    $63,036
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $38,276
    Filer's total
    $413,795

  • CHRIS JARNOT

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • JOHN ARNOLD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • SAM BRONFMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • LINN BROOKS

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • SUSAN CAMPBELL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • WILL COOK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • STEVE COYER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • JOHANNES FAESSLER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • CARLOS GARDEA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • MARGIE GART

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • PAUL GORDON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • NADIA GUERRIERO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • CARRIE BESNETTE HAUSER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • BETH HOWARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • AL HUBBARD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • BJ HYBL

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • DAVID HYDE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • CHERYL JENSEN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • ALEXIA JURSCHAK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • ANNE-MARIE KEANE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • MIKE KRUPKA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • DONNA LYNNE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • SARAH MALLOY MILLETT

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • ALEJANDRA CORTS DE MILMO

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • ELLEN MORITZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • KAIA MORITZ

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • DAN PENNINGTON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • JILL PLANCHER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • CHRIS ROMER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • DAVID SALVIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • KEN SCHANZER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • MIKE SHANNON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • ANN SMEAD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • HAP STEIN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • KRISTIN TANG

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • FRED TRESCA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • MELINA VALSECIA

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • TINA VARDAMAN

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • NICK WAUGH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • GARY WOODWORTH

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • KRISTY WOOLFOLK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0.5 + 1 related

  • ROBERT FORD THRU 112022

    CHIEF FINANCIAL OFFICER

    Total calculated
    $356,235
    From this org
    $322,176
    From related orgs
    $0
    Other
    $34,059
    Hours/week
    40 + 15 related

    Schedule J breakdown matched by us

    Base
    $185,673
    Bonus
    $42,040
    Other
    $94,463
    Deferred
    $7,619
    Nontaxable benefits
    $27,600
    Filer's total
    $357,395

  • SARAH JOHNSON

    SVP PHILANTHROPY

    Total calculated
    $244,924
    From this org
    $235,078
    From related orgs
    $0
    Other
    $9,846
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,373
    Bonus
    $44,290
    Other
    $13,415
    Deferred
    $8,330
    Nontaxable benefits
    $2,507
    Filer's total
    $245,915

  • SARAH FRANKE

    VP OF MARKETING & OPERATIONS

    Total calculated
    $251,537
    From this org
    $229,457
    From related orgs
    $0
    Other
    $22,080
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,553
    Bonus
    $37,904
    Other
    $0
    Deferred
    $8,353
    Nontaxable benefits
    $15,157
    Filer's total
    $252,967

  • DAVE DRESSMAN

    VP OF SALES & GRFA

    Total calculated
    $274,686
    From this org
    $230,292
    From related orgs
    $0
    Other
    $44,394
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,559
    Bonus
    $41,733
    Other
    $0
    Deferred
    $8,477
    Nontaxable benefits
    $36,741
    Filer's total
    $275,510

  • BRIAN MULLER

    IT DIRECTOR

    Total calculated
    $200,915
    From this org
    $177,189
    From related orgs
    $0
    Other
    $23,726
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $147,389
    Bonus
    $29,800
    Other
    $0
    Deferred
    $7,290
    Nontaxable benefits
    $17,592
    Filer's total
    $202,071

  • GREG BLOOM

    SENIOR DIRECTOR OF SALES

    Total calculated
    $169,362
    From this org
    $149,546
    From related orgs
    $0
    Other
    $19,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $75,950
    Bonus
    $73,596
    Other
    $0
    Deferred
    $6,080
    Nontaxable benefits
    $14,111
    Filer's total
    $169,737

  • JESSICA STEVENS

    SENIOR DIRECTOR OF SALES

    Total calculated
    $230,418
    From this org
    $200,323
    From related orgs
    $0
    Other
    $30,095
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $74,553
    Bonus
    $125,770
    Other
    $0
    Deferred
    $8,147
    Nontaxable benefits
    $22,488
    Filer's total
    $230,958

  • PEGGY WOLFE

    SENIOR DIRECTOR OF OPERATIONS

    Total calculated
    $157,873
    From this org
    $140,185
    From related orgs
    $0
    Other
    $17,688
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $113,185
    Bonus
    $27,000
    Other
    $0
    Deferred
    $5,102
    Nontaxable benefits
    $13,046
    Filer's total
    $158,333

  • TRICIA BANCKER

    CONTROLLER

    Total calculated
    $162,637
    From this org
    $111,681
    From related orgs
    $0
    Other
    $50,956
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $100,181
    Bonus
    $11,500
    Other
    $0
    Deferred
    $5,216
    Nontaxable benefits
    $46,752
    Filer's total
    $163,649

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 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 4A
ROBERT FORD, FORMER CHIEF FINANCIAL OFFICER - SEVERANCE PAYMENT OF $94,463 MADE AS REQUIRED UNDER AGREEMENT WITH EMPLOYER UPON DEPARTURE FROM EMPLOYEMENT.
PART I, LINE 7
THE ORGANIZATION'S EXECUTIVE COMMITTEE ANNUALLY REVIEWS AND DETERMINES IF ADDITIONAL COMPENSATION IN THE FORM OF BONUSES WILL BE PAID TO EXECUTIVE STAFF AND OTHER STAFF AS IDENTIFIED BY THE COMMITTEE. BONUSES ARE APPROVED BASED ON REVIEW OF EACH INDIVIDUAL'S PERFORMANCE AND SERVICES TO THE ORGANIZATION.

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

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • VILAR PERFORMING ARTS CENTER INC

    501(C)(3) · PROMOTE AN APPRECIATION OF THE ARTS · CO · controlled entity

    Directly controlled by VAIL VALLEY FOUNDATION

  • YOUTHPOWER365

    501(C)(3) · PREPARE CHILDREN IN NEED FOR SUCCESS IN LIFE THROUGH EDUCATION · CO · controlled entity

    Directly controlled by VAIL VALLEY FOUNDATION

  • EAGLE RIVER VALLEY CHILDCARE

    501(C)(3) · EMPLOYER BASED CHILDCARE FACILITY · CO · controlled entity

    Directly controlled by VAIL VALLEY FOUNDATION

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • VVF EVENTS HOLDING COMPANY INC

    C · HOLDING COMPANY · CO · 100% owned · share of income -$63,626 · share of assets $51,159 · controlled entity

    Directly controlled by VAIL VALLEY FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
9 April 2024
IRS schema version
2022v5.0
Source object
202401019349300840

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