Riverartsfest INC EIN 45-4274813 Form 990 (PDF) Claim this org

Riverartsfest INC

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Connects people with diverse art experiences, fostering cultural understanding and depth in Memphis. For fiscal year 2025 it reported $301K in revenue, $463K in expenses, and $423K in net assets.Pt I

Founded
2012
Type
Public charity (501(c)(3)) · Arts & Culture
Location
Memphis, TN
Website
www.riverartsmemphis.org
Filings
6 on file (2020–2025)
Revenue
$301KFY2025
Expenses
$463K
Net assets
$423K
People
14
Filings
6
Updates
0
More identity details & actions ⌄
EIN  45-4274813 Public charity (501(c)(3)) Memphis, TN Founded 2012
Form 990 (PDF)
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Size
$100K–1M
What they do
Connects people with diverse art experiences, fostering cultural understanding and depth in Memphis.
Leadership
Chuck Mitchell · Board Member
Money in and out
$301K revenue, $463K expenses
Bottom line
11.2mo operating runway
Where the money goes · FY2025
Total revenue
$301K
Pt VIII · Ln 12
Total expenses
$463K
Pt IX · Ln 25
Net assets
$423K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$163K
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.04
Operating runway
11.2mo
months of highly liquid reserves at operating expense rate▼ -18% vs prior filing year
Surplus margin
-54%
revenue over expenses, this year▼ -436% vs prior filing year
Revenue trend
+50%
avg. annual growth over 5 years▼ -49% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$301K
FY2025▼ -51%
Expenses
$463K
FY2025▼ -10%
Total assets
$431K
FY2025▼ -26%
Total liabilities
$8K
FY2025
Total revenue
$301K
Pt VIII · Ln 12
Total expenses
$463K
Pt IX · Ln 25
Net assets
$423K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$163K
Total assetsPt X · Ln 16$431K
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRiverartsfest INC
EINHdr · item D45-4274813
Principal addressHdr · item CMemphis, TN
WebsiteHdr · item Jwww.riverartsmemphis.org
Year of formationHdr · item L2012
State of legal domicileHdr · item MTN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFArts & Culture (A20)
Ruling yearIRS BMFDec 2012

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

1 program service account for $420K of program spending, described in the organization's own filed words · FY2025.
01

Riverartsfest is held each year in downtown memphis TN south main district and is a two and a half day street celebration of the visual, performing, and culinary arts with attractions and activities for all ages.

$420Kprogram expense

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Statement of Revenue

Part VIII
Program service revenue$256K · 85%
Contributions & grants$35K · 12%
Investment income$10K · 3%
Program service revenue85%$256K
Contributions & grants12%$35K
Investment income3%$10K
Total revenueLn 12$301K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.04
Program services91%$420K
Management & general4%$19K
Total functional expensesLn 25$463K

Balance Sheet

Part X · end of year
CashLn 1$425K
Total assetsLn 16$431K
Total liabilitiesLn 26$8K
Total net assetsLn 32$423K
Months of cash on handcomputed11.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $425K · Operating expenses (Pt IX) $463K · Less non-cash grants $9K · Cash operating expenses/yr $454K
11.2 months
Where the money goes
Program services
Program services $420K · Total expenses $463K
not reported
Management & General
Management & general $19K · Total expenses $463K
not reported
Fundraising
Fundraising $0 · Total expenses $463K
not reported
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $61K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $35K · Total revenue $301K
12%
Government reliance
Government grants — · Total revenue $301K
Earned-income share
Program service revenue $256K · Total revenue $301K
85%
Investment reliance
Investment income $10K · Total revenue $301K
+3%
Program self-sufficiency
Program service revenue $256K · Total expenses $463K
55%
Growth & trend
Revenue growth (YoY)
This year $301K · Prior year $616K
-51%
Revenue CAGR
FY2020 $40K · FY2025 $301K
+50%
Net-asset trend (YoY)
End of year $423K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $301K · Expenses $463K
-54%
Liabilities-to-Assets
Total liabilities — · Total assets $431K
Net-asset ratio
Net assets $423K · Total assets $431K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $431K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Chuck Mitchell · Reported title BOARD MEMBER · Highest reported compensation $0 · Total expenses $463K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $463K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 91%
Overhead ratio 4%
Revenue growth -51%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Arts MemphisFY2024$12K
Total grants receivedfrom 1 funder$12K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$301K revenue · viewing · ⤓ 990 PDF
FY2024$616K revenue · ⤓ 990 PDF
FY2023$438K revenue · ⤓ 990 PDF
FY2022$383K revenue · ⤓ 990 PDF
FY2021$160K revenue · ⤓ 990 PDF
FY2020$40K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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