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Riverartsfest INC FY2023 filing

Tax-deductible

Memphis, TN501(c)(3)Since 2012Arts & CultureEIN 45-4274813Revenue $438K in FY2023

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

FY2023 · 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: 20.3 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
$3K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$438K
+14% vs prior year
Spent
$288K
To programs
100%
Net assets
$487K
By yearFY2020–FY2025
Revenue
$438K
FY2023▲ +14%
Tap a bar for its year
Revenue by fiscal year
FY2020$40K
FY2021$160K
FY2022$383K
FY2023$438K
FY2024$616K
FY2025$301K
Expenses
$288K
FY2023▲ +7%
Tap a bar for its year
Expenses by fiscal year
FY2020$70K
FY2021$154K
FY2022$270K
FY2023$288K
FY2024$516K
FY2025$463K
Net assets
$487K
FY2023▲ +52%
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 FY2023 Form 990 · see the original

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You’re viewing the FY2023 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% · $288K

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

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Angela Less
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
James Wells
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Denise Ford
Director
$0Pt VII · Sec A
Dan Flick
Director
$0Pt VII · Sec A
$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 · $288K · in their own filed words · FY2023
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.

$288Kprogram 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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$438K
Ln 12
Fees for servicesLn 2g$284K
Gifts and grantsLn 1h$146K
Investment incomeLn 3$9K
Money outPt IX
$288K
Ln 25
Programscol B$288K
Owns and owesPt X
$487K
net assets · Ln 32
Cash and savingsLn 1–2$487K
Total assetsLn 16$490K
LiabilitiesLn 26$3K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$146K
Fees for servicesLn 2g$284K
Investment incomeLn 3$9K
Total revenueLn 12$438K
Assets in detailPt X, end of year
CashLn 1$487K
Cash and savings togetherLn 1–2$487K
Other assetsLn 15$3K
Total assetsLn 16$490K
LiabilitiesLn 26$3K
Net assetsLn 32$487K
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 FY23End FY23
Cash and savingsLn 1–2$319K$487K
Total assetsLn 16$320K$490K
LiabilitiesLn 26$0$3K
Net assetsLn 32$320K$487K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$796$796
Advertising and promotionLn 12$25K$25K
Office expensesLn 13$4K$4K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$249K$249K
Total functional expensesLn 25$288K$288K$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 Viewing $438K$288K$150K$487K 990 PDF
FY2022 $383K$270K$113K$320K 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $437,809 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $68,803$145,554
I-9 Program service revenuePrior year $296,225$283,632
I-10 Investment incomePrior year $17,865$8,623
I-11 Other revenue$0
I-12 Total revenuePrior year $382,893$437,809
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $269,641$288,090
I-18 Total expensesPrior year $269,641$288,090
I-19 Revenue less expensesPrior year $113,252$149,719
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $437,809 across 5 lines filed
VIII-1f All other contributions, gifts and grants$145,554
VIII-1h Total contributions, gifts and grants$145,554
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $283,632$283,632
VIII-3 Investment incomeRelated to mission $8,623$8,623
VIII-12 Total revenueRelated to mission $292,255 · Unrelated business $0 · Excluded from tax $0$437,809
Part IX · Statement of functional expenses $288,090 across 5 lines filed
IX-11c Accounting feesPrograms $796$796
IX-12 Advertising and promotionPrograms $24,732$24,732
IX-13 Office expensesPrograms $3,867$3,867
IX-23 InsurancePrograms $9,570$9,570
IX-24 Other expenses (24a–d)Programs $249,125$249,125
IX-25 Total functional expensesPrograms $288,090 · Management $0 · Fundraising $0$288,090
Part X · Balance sheet $489,549 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $318,577$486,685
X-15 Other assetsStart of year $1,246$2,864
X-16 Total assetsStart of year $319,823$489,549
X-17 Accounts payable and accrued expenses$2,700
X-26 Total liabilitiesStart of year $0$2,700
X-27 Net assets without donor restrictionsStart of year $319,823$486,849
X-32 Total net assets or fund balancesStart of year $319,823$486,849
X-33 Total liabilities and net assetsStart of year $319,823$489,549
Part XI · Reconciliation of net assets $486,849 net assets at year end
XI-1 Total revenue$437,809
XI-2 Total expenses$288,090
XI-3 Revenue less expenses$149,719
XI-4 Net assets at start of year$319,823
XI-5 Net unrealized gains (losses) on investments$17,307
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$486,849

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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