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Riverartsfest INC FY2021 filing

Tax-deductible

Memphis, TN501(c)(3)Since 2012Arts & CultureEIN 45-4274813Revenue $160K in FY2021

On file with the IRSriverartsmemphis.orgPo Box 40001, 38174-0001 · Memphis, TNTax-exempt since Dec 2012Publicly supported — 509(a)(2)

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Create access to a broad array of art experiences, nurture the development and understanding of diverse art forms, and encourage the expanding depth of cultural life in the city of memphis.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $29K a year · 9% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
20 mo
of spending, in cash
Looks good: 19.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $12K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$160K
+301% vs prior year
Spent
$154K
To programs
100%
Net assets
$255K
By yearFY2020–FY2025
Revenue
$160K
FY2021▲ +301%
Tap a bar for its year
Revenue by fiscal year
FY2020$40K
FY2021$160K
FY2022$383K
FY2023$438K
FY2024$616K
FY2025$301K
Expenses
$154K
FY2021▲ +119%
Tap a bar for its year
Expenses by fiscal year
FY2020$70K
FY2021$154K
FY2022$270K
FY2023$288K
FY2024$516K
FY2025$463K
Net assets
$255K
FY2021▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$244K
FY2021$255K
FY2022$320K
FY2023$487K
FY2024$586K
FY2025$423K

From the FY2021 Form 990 · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 2012.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $154K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Kim Warnette
Director
$0Pt VII · Sec A
James Wells
Director
$0Pt VII · Sec A
Angela Less
Director
$0Pt VII · Sec A
Denise Ford
Director
$0Pt VII · Sec A
Dan Flick
Director
$0Pt VII · Sec A
See Riverartsfest INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Connects people with diverse art experiences, fostering cultural understanding and depth in Memphis.

Questions for Riverartsfest INC

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Provided by the organization

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1 program · $154K · in their own filed words · FY2021
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.

$154Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

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

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$160K
Ln 12
Fees for servicesLn 2g$121K
Gifts and grantsLn 1h$27K
Investment incomeLn 3$13K
Money outPt IX
$154K
Ln 25
Programscol B$154K
Owns and owesPt X
$255K
net assets · Ln 32
Cash and savingsLn 1–2$254K
Total assetsLn 16$255K
LiabilitiesLn 26$0
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$27K
Fees for servicesLn 2g$121K
Investment incomeLn 3$13K
Total revenueLn 12$160K
Assets in detailPt X, end of year
CashLn 1$254K
Cash and savings togetherLn 1–2$254K
Other assetsLn 15$1K
Total assetsLn 16$255K
LiabilitiesLn 26$0
Net assetsLn 32$255K
OperationsPt I, VI
EmployeesI 50
VolunteersI 625
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$243K$254K
Total assetsLn 16$244K$255K
LiabilitiesLn 26$0$0
Net assetsLn 32$244K$255K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$500$500
Accounting feesLn 11c$750$750
Advertising and promotionLn 12$39K$39K
Office expensesLn 13$6K$6K
OccupancyLn 16$16K$16K
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$85K$85K
Total functional expensesLn 25$154K$154K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $301K$463K−$163K$423K 990 PDF
FY2024 $616K$516K$99K$586K 990 PDF
FY2023 $438K$288K$150K$487K 990 PDF
FY2022 $383K$270K$113K$320K 990 PDF
FY2021 Viewing $160K$154K$7K$255K 990 PDF
FY2020 $40K$70K−$30K$244K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $160,433 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $21,020$26,775
I-9 Program service revenuePrior year $12,793$120,533
I-10 Investment incomePrior year $6,235$13,125
I-11 Other revenue$0
I-12 Total revenuePrior year $40,048$160,433
I-13 Grants and similar amounts paidPrior year $1,397$500
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $68,727$153,099
I-18 Total expensesPrior year $70,124$153,599
I-19 Revenue less expensesPrior year −$30,076$6,834
Part VI · Governance 11 of 11 board members independent, 4 to look at
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $160,433 across 5 lines filed
VIII-1f All other contributions, gifts and grants$26,775
VIII-1h Total contributions, gifts and grants$26,775
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $120,533$120,533
VIII-3 Investment incomeRelated to mission $13,125$13,125
VIII-12 Total revenueRelated to mission $133,658 · Unrelated business $0 · Excluded from tax $0$160,433
Part IX · Statement of functional expenses $153,599 across 7 lines filed
IX-2 Grants to domestic individualsPrograms $500$500
IX-11c Accounting feesPrograms $750$750
IX-12 Advertising and promotionPrograms $38,623$38,623
IX-13 Office expensesPrograms $5,520$5,520
IX-16 OccupancyPrograms $16,056$16,056
IX-23 InsurancePrograms $7,322$7,322
IX-24 Other expenses (24a–d)Programs $84,828$84,828
IX-25 Total functional expensesPrograms $153,599 · Management $0 · Fundraising $0$153,599
Part X · Balance sheet $255,334 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $242,615$254,088
X-15 Other assetsStart of year $1,246$1,246
X-16 Total assetsStart of year $243,861$255,334
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $243,861$255,334
X-32 Total net assets or fund balancesStart of year $243,861$255,334
X-33 Total liabilities and net assetsStart of year $243,861$255,334
Part XI · Reconciliation of net assets $255,334 net assets at year end
XI-1 Total revenue$160,433
XI-2 Total expenses$153,599
XI-3 Revenue less expenses$6,834
XI-4 Net assets at start of year$243,861
XI-5 Net unrealized gains (losses) on investments$4,639
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$255,334

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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