Totals
- Total revenue
- $5,677,601
- Total expenses
- $5,427,853
- Contributions and grants received
- $442,783
- Grants paid
- $34,500
- Program service revenue
- $4,350,967
- Investment income
- $400,980
- Other revenue
- $482,871
- Total assets, end of year
- $7,179,179
- Total liabilities, end of year
- $715,767
- Net assets or fund balances, end of year
- $6,463,412
- Program services expenses (Part IX)
- $4,428,164
- Management and general expenses
- $417,466
- Fundraising expenses
- $582,223
- Program service expenses (Part III)
- $4,428,164
Program services were 81.6% 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.
-
1b · Membership dues
$158,803
-
1f · All other contributions, gifts and grants
$283,980
-
1g · Noncash contributions included above
$177,028
-
2a · Program service revenue: 500 FESTIVAL EVENTS AND SUPPORT
total $2,660,262 · related or exempt $2,660,262
-
2b · Program service revenue: SPONSORSHIPS
total $1,648,205 · related or exempt $1,648,205
-
2c · Program service revenue: PUBLICITY AND PROMOTION
total $42,500 · related or exempt $42,500
-
3 · Investment income
total $94,873 · excluded $94,873
-
6a · Gross rents
real property $74,517
-
6b · Less rental expenses
real property $0
-
6c · Rental income or loss
real property $74,517
-
6d · Net rental income or loss
total $74,517 · excluded $74,517
-
7a · Gross sales of assets other than inventory
securities $165,137 · other assets $3,135,976
-
7b · Less cost or other basis and sales expenses
securities $158,739 · other assets $2,836,267
-
7c · Gain or loss
securities $6,398 · other assets $299,709
-
7d · Net gain or loss
total $306,107 · related or exempt $299,709 · excluded $6,398
-
11a · Other revenue: MISCELLANEOUS
total $408,354 · related or exempt $408,354
-
11e · Other revenue, total
$408,354
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $34,500 · program services $34,500
-
5 · Compensation of officers, directors and key employees
total $726,855 · program services $508,798 · management and general $72,686 · fundraising $145,371
-
7 · Other salaries and wages
total $840,394 · program services $588,276 · management and general $84,039 · fundraising $168,079
-
8 · Pension plan contributions
total $71,681 · program services $50,177 · management and general $7,168 · fundraising $14,336
-
9 · Other employee benefits
total $230,481 · program services $161,337 · management and general $23,048 · fundraising $46,096
-
10 · Payroll taxes
total $102,872 · program services $72,010 · management and general $10,287 · fundraising $20,575
-
11c · Fees: accounting
total $26,000 · program services $14,040 · management and general $11,960
-
12 · Advertising and promotion
total $183,006 · fundraising $183,006
-
13 · Office expenses
total $26,815 · program services $14,480 · management and general $12,335
-
14 · Information technology
total $32,967 · program services $17,802 · management and general $15,165
-
16 · Occupancy
total $283,362 · program services $153,015 · management and general $130,347
-
17 · Travel
total $20,952 · program services $14,666 · management and general $2,095 · fundraising $4,191
-
19 · Conferences, conventions and meetings
total $11,057 · program services $5,971 · management and general $5,086
-
22 · Depreciation, depletion and amortization
total $33,879 · program services $18,295 · management and general $15,584
-
24a · Other expenses: 500 FESTIVAL EVENTS
total $2,651,223 · program services $2,651,223
-
24b · Other expenses: VOLUNTEER PROGRAM
total $106,528 · program services $106,528
-
24c · Other expenses: BANK FEES
total $14,026 · program services $4,172 · management and general $9,854
-
24d · Other expenses: MISCELLANEOUS
total $13,662 · program services $2,919 · management and general $10,743
-
24e · All other expenses
total $17,593 · program services $9,955 · management and general $7,069 · fundraising $569
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,252,063 · end of year $4,008,734
-
4 · Accounts receivable
beginning of year $363,346 · end of year $616,018
-
9 · Prepaid expenses and deferred charges
beginning of year $116,848 · end of year $121,405
-
10a · Land, buildings and equipment: cost or other basis
$815,888
-
10b · Land, buildings and equipment: accumulated depreciation
$578,374
-
10c · Land, buildings and equipment, net
beginning of year $3,054,168 · end of year $237,514
-
11 · Investments: publicly traded securities
beginning of year $910,328 · end of year $2,039,945
-
15 · Other assets
beginning of year $67,108 · end of year $155,563
-
17 · Accounts payable and accrued expenses
beginning of year $301,687 · end of year $215,496
-
19 · Deferred revenue
beginning of year $335,892 · end of year $342,983
-
25 · Other liabilities
beginning of year $0 · end of year $157,288
-
27 · Net assets without donor restrictions
beginning of year $6,126,282 · end of year $6,463,412
Mission and programs · 2022
Mission
THE MISSION OF THE 500 FESTIVAL IS TO PRODUCE LIFE-ENRICHING EVENTS AND PROGRAMS THAT CELEBRATE THE SPIRIT AND LEGACY OF THE INDIANAPOLIS 500 AND FOSTER A POSITIVE IMPACT ON THE CITY OF INDIANAPOLIS AND STATE OF INDIANA.
Activities or mission (Part I)
SEE MISSION STATEMENT ON SCHEDULE O.THE MISSION OF THE 500 FESTIVAL IS TO PRODUCE LIFE-ENRICHING EVENTS AND PROGRAMS THAT CELEBRATE THE SPIRIT AND LEGACY OF THE INDIANAPOLIS 500 AND FOSTER A POSITIVE IMPACT ON THE CITY OF INDIANAPOLIS AND STATE OF INDIANA.
-
THE 500 FESTIVAL:PROMOTE CIVIC AND COMMUNITY PRIDE IN INDIANAPOLIS BY SPONSORING AND PRESENTING EVENTS IN CONNECTION WITH THE ANNUAL INDIANAPOLIS 500 RACE. INCLUDED IN THE EVENTS ARE THE 500 FESTIVAL PARADE, WHICH IS CONDUCTED ANNUALLY BEFORE APPROXIMATELY 300,000 SPECTATORS, A BLACK TIE BALL, AND THE 500 FESTIVAL MINI MARATHON, A 13.1 MILE FOOTRACE OVER THE STREETS OF INDIANAPOLIS WHICH HAS APPROXIMATELY 35,000 PARTICIPANTS.
Expenses $4,428,164 · Grants $34,500 · Revenue $4,350,967
As filed on the 2022 return.
Listed in Part VII
-
Steve AlonsoSTEVE ALONSO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Doug HeathDOUG HEATH
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mike BoatrightMIKE BOATRIGHT
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Doug BolesDOUG BOLES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Dr James CallaghanDR JAMES CALLAGHAN
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Patrick McGillPATRICK MCGILL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Erik MinerERIK MINER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Fred DufourFRED DUFOUR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Phyllis FerrellPHYLLIS FERRELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sarah Fisher O'GaraSARAH FISHER O'GARA
CHAIR
- Total calculated
- $0
- Hours/week
- 1
-
Juan GonzalesJUAN GONZALES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Marty HillMARTY HILL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Christina MoungeyCHRISTINA MOUNGEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jeff HolleyJEFF HOLLEY
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Scott BoveSCOTT BOVE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Troy GilstorfTROY GILSTORF
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Syam NairSYAM NAIR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jonathan NalliJONATHAN NALLI
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bali HeirBALI HEIR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Kevin PastoorKEVIN PASTOOR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
James PooreJAMES POORE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Nicole PaulkNICOLE PAULK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Ellen SaulELLEN SAUL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Bill BeckBILL BECK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Mario RodriguezMARIO RODRIGUEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Sara TaitSARA TAIT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Tanya SearcyTANYA SEARCY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
John GauseJOHN GAUSE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jeff HarrisonJEFF HARRISON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Roger HarveyROGER HARVEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Aleesia JohnsonALEESIA JOHNSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Jj NelsonJJ NELSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Roger VandersnickROGER VANDERSNICK
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Robert BryantROBERT BRYANT
PRESIDENT & CEO
- Total calculated
- $460,357
- From this org
- $413,972
- From related orgs
- $0
- Other
- $46,385
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $326,843
- Bonus
- $60,129
- Other
- $27,000
- Deferred
- $18,300
- Nontaxable benefits
- $28,085
- Filer's total
- $460,357
-
Jennifer LoweJENNIFER LOWE
SVP ADMINISTRATION
- Total calculated
- $182,397
- From this org
- $155,324
- From related orgs
- $0
- Other
- $27,073
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $136,975
- Bonus
- $8,885
- Other
- $9,464
- Deferred
- $9,464
- Nontaxable benefits
- $17,609
- Filer's total
- $182,397
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 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or 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.
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.
-
501(C)(3) · FUNDRAISING · IN · controlled entity
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 11 May 2024
- IRS schema version
- 2022v5.0
- Source object
- 202411339349300906
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