Riverartsfest INC: FY2024 Nonprofit Profile & Form 990 (EIN 45-4274813)

Revenue by fiscal year
FY2020	$40K
FY2021	$160K
FY2022	$383K
FY2023	$438K
FY2024	$616K
FY2025	$301K

Expenses by fiscal year
FY2020	$70K
FY2021	$154K
FY2022	$270K
FY2023	$288K
FY2024	$516K
FY2025	$463K

Net assets by fiscal year
FY2020	$244K
FY2021	$255K
FY2022	$320K
FY2023	$487K
FY2024	$586K
FY2025	$423K

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

91 cents of each dollar spent went to programs.

91%

Program services 91% · $469K Management & general 9% · $48K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation

Chuck Mitchell

Board Member

$0Pt VII · Sec A

Angela Less

Board Member

$0Pt VII · Sec A

Carol Watkins

Board Member

$0Pt VII · Sec A

James Wells

Board Member

$0Pt VII · Sec A

Lee Askew

Board Member

$0Pt VII · Sec A

Denise Ford

Secretary

$0Pt VII · Sec A

Dan Flick

Board Chair

$0Pt VII · Sec A

Kelley Morice

Board Member

$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 · $469K · in their own filed words · FY2024

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.

$469Kprogram 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 FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$616K

Ln 12

Gifts and grantsLn 1h$315K

Fees for servicesLn 2g$268K

Investment incomeLn 3$33K

Money outPt IX

$516K

Ln 25

Programscol B$469K

Managementcol C$48K

Owns and owesPt X

$586K

net assets · Ln 32

Cash and savingsLn 1–2$584K

Total assetsLn 16$586K

LiabilitiesLn 26$0

PeoplePt VI, VII

13

listed · VII A

PaidVII A0

Voting boardVI 1a11

IndependentVI 1b11

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$315K

Government grantsLn 1e$312K

Fees for servicesLn 2g$268K

Investment incomeLn 3$33K

Total revenueLn 12$616K

Assets in detailPt X, end of year

CashLn 1$584K

Cash and savings togetherLn 1–2$584K

Other assetsLn 15$2K

Total assetsLn 16$586K

LiabilitiesLn 26$0

Net assetsLn 32$586K

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$487K	$584K
Total assetsLn 16	$490K	$586K
LiabilitiesLn 26	$3K	$0
Net assetsLn 32	$487K	$586K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$18K		$18K
Advertising and promotionLn 12	$119K	$119K
Office expensesLn 13	$6K	$92	$6K
OccupancyLn 16	$6K		$6K
InsuranceLn 23	$11K		$11K
Other expenses (24a–d)Ln 24	$355K	$350K	$6K
Total functional expensesLn 25	$516K	$469K	$48K	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$301K	$463K	−$163K	$423K	990 PDF
FY2024 Viewing	$616K	$516K	$99K	$586K	990 PDF
FY2023	$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 FY2024 990 (6 parts)

Part I · Summary $615,518 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $145,554$314,988

I-9 Program service revenuePrior year $283,632$267,523

I-10 Investment incomePrior year $8,623$33,007

I-11 Other revenue$0

I-12 Total revenuePrior year $437,809$615,518

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 $288,090$516,335

I-18 Total expensesPrior year $288,090$516,335

I-19 Revenue less expensesPrior year $149,719$99,183

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 $615,518 across 7 lines filed

VIII-1e Government grants$312,320

VIII-1f All other contributions, gifts and grants$2,668

VIII-1h Total contributions, gifts and grants$314,988

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $267,523$267,523

VIII-3 Investment incomeUnrelated business $33,007$33,007

VIII-8 Net income from fundraising events$0

VIII-12 Total revenueRelated to mission $267,523 · Unrelated business $33,007 · Excluded from tax $0$615,518

Part IX · Statement of functional expenses $516,335 across 6 lines filed

IX-11c Accounting feesManagement $18,181$18,181

IX-12 Advertising and promotionPrograms $118,722$118,722

IX-13 Office expensesPrograms $92 · Management $6,402$6,494

IX-16 OccupancyManagement $6,139$6,139

IX-23 InsuranceManagement $11,339$11,339

IX-24 Other expenses (24a–d)Programs $349,739 · Management $5,721$355,460

IX-25 Total functional expensesPrograms $468,553 · Management $47,782 · Fundraising $0$516,335

Part X · Balance sheet $586,032 assets, 8 lines filed

X-1 Cash, non-interest-bearingStart of year $486,685$583,592

X-4 Accounts receivable$656

X-15 Other assetsStart of year $2,864$1,784

X-16 Total assetsStart of year $489,549$586,032

X-26 Total liabilitiesStart of year $2,700$0

X-27 Net assets without donor restrictionsStart of year $486,849$586,032

X-32 Total net assets or fund balancesStart of year $486,849$586,032

X-33 Total liabilities and net assetsStart of year $489,549$586,032

Part XI · Reconciliation of net assets $586,032 net assets at year end

XI-1 Total revenue$615,518

XI-2 Total expenses$516,335

XI-3 Revenue less expenses$99,183

XI-4 Net assets at start of year$486,849

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$586,032

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Riverartsfest INC FY2024 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Riverartsfest INC

Funders

Grants

By the numbers

Filing history

Schedules filed Part IV