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Src Productions INC FY2021 filing

Tax-deductible

Stuart, VA501(c)(3)Human ServicesEIN 82-0899362Revenue $9K in FY2021

On file with the IRSbeachfestival.comPo Box 763, 24171-0763 · Stuart, VATax-exempt since Aug 2017Publicly supported — 509(a)(2)

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The net proceeds from the festivals, etc. hosted by SRC Productions, Inc. are used to fund many of the charitable projects of the Rotary Club of Stuart and other charitable projects that conform with the charitable, medical and educational purposes of SRC Productions, Inc.

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average surplus $4K a year · 18% of revenue · last 4 filings
Worth a look: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 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
26 mo
of spending, in cash
Looks good: 26.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $13K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$7K
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9K
+30% vs prior year
Spent
$14K
To programs
100%
Net assets
$24K
By yearFY2020–FY2024
Revenue
$9K
FY2021▲ +30%
Tap a bar for its year
Revenue by fiscal year
FY2020$7K
FY2021$9K
FY2022$38K
FY2023$27K
FY2024$80K
Expenses
$14K
FY2021▲ +75%
Tap a bar for its year
Expenses by fiscal year
FY2020$8K
FY2021$14K
FY2022$3K
FY2023$42K
FY2024Not on file
Net assets
$24K
FY2021▼ -17%
Tap a bar for its year
Net assets by fiscal year
FY2020$28K
FY2021$24K
FY2022$59K
FY2023$44K
FY2024$43K

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 (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2017.

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% · $14K

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

6 people listed on the 990.

Part VII, Section A · reportable compensation
Tina Dugger
Director
$0Pt VII · Sec A
John Weis
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Stanley Fain
Director President
$0Pt VII · Sec A
Harold Edwards
Director Treasurer
$0Pt VII · Sec A
Patty Hazelwood
Director Secretary
$0Pt VII · Sec A
See Src Productions 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

Funds charitable, medical, and educational projects through festival proceeds.

Questions for Src Productions INC

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Provided by the organization

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2 programs · $14K · in their own filed words · FY2021
01

$14,000 was contributed to the Rotary Club of Stuart for student weekend back pack food program and other charitable projects of the Rotary Club.

$14Kprogram expense
02

We successfully hosted the Hot Fun in the Summertime Beach Music Festival realizing proceeds from event ticket sales, camping sites rental, food concession sales, and sponsorship funding.

Pt IX · col B

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
Raymond James Charitable Endowment FundFY2024$13K
Total grants receivedfrom 1 funder$13K

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$9K
Ln 12
Gifts and grantsLn 1h$7K
Other incomeLn 4–11$2K
Money outPt IX
$14K
Ln 25
Programscol B$14K
Owns and owesPt X
$24K
net assets · Ln 32
Cash and savingsLn 1–2$31K
Total assetsLn 16$31K
LiabilitiesLn 26$7K
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7K
Other incomeLn 4–11$2K
Total revenueLn 12$9K
Assets in detailPt X, end of year
CashLn 1$31K
Cash and savings togetherLn 1–2$31K
Total assetsLn 16$31K
LiabilitiesLn 26$7K
Net assetsLn 32$24K
OperationsPt I, VI
EmployeesI 50
VolunteersI 635
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
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$24K$31K
Total assetsLn 16$29K$31K
LiabilitiesLn 26$310$7K
Net assetsLn 32$28K$24K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$14K$14K
Total functional expensesLn 25$14K$14K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $80K$43K 990 PDF
FY2023 $27K$42K−$15K$44K 990 PDF
FY2022 $38K$3K$35K$59K 990 PDF
FY2021 Viewing $9K$14K−$5K$24K 990 PDF
FY2020 $7K$8K−$933$28K 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 $9,183 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,595$7,000
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $2,472$2,183
I-12 Total revenuePrior year $7,067$9,183
I-13 Grants and similar amounts paidPrior year $8,000$14,000
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$0
I-18 Total expensesPrior year $8,000$14,000
I-19 Revenue less expensesPrior year −$933−$4,817
Part VI · Governance 0 of 6 board members independent, 3 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $9,183 across 4 lines filed
VIII-1f All other contributions, gifts and grants$7,000
VIII-1h Total contributions, gifts and grants$7,000
VIII-8 Net income from fundraising eventsExcluded from tax $2,183$2,183
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,183$9,183
Part IX · Statement of functional expenses $14,000 across 1 line filed
IX-1 Grants to domestic organizationsPrograms $14,000$14,000
IX-25 Total functional expensesPrograms $14,000 · Management $0 · Fundraising $0$14,000
Part X · Balance sheet $30,800 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $24,307$30,800
X-16 Total assetsStart of year $28,807$30,800
X-24 Unsecured notes and loans payable$7,120
X-26 Total liabilitiesStart of year $310$7,120
X-32 Total net assets or fund balancesStart of year $28,497$23,680
X-33 Total liabilities and net assetsStart of year $28,807$30,800
Part XI · Reconciliation of net assets $23,680 net assets at year end
XI-1 Total revenue$9,183
XI-2 Total expenses$14,000
XI-3 Revenue less expenses−$4,817
XI-4 Net assets at start of year$28,497
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$23,680

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

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