2024-10-29T12:37:36-05:00 2023-12-31 560570567 DMJPS PLLC 703 GREEN VALLEY ROAD SUITE 201 GREENSBORO NC 27408 990 2023-01-01 824363298 NORTH CAROLINA FOLK FESTIVAL NORT 3362988115 PO BOX 5364 GREENSBORO NC 27435 JODEE RUPPEL PRESIDENT/CEO 3362988115 2024-10-22 1 0 LAURA HARTLEY P01243854 3362759886 2024-10-22 2023 2024-10-15 13:58:12Z JODEE RUPPEL PO BOX 5364 GREENSBORO NC 27435 1067633 0 X NCFOLKFESTIVAL.COM X 2017 NC THE NORTH CAROLINA FOLK FESTIVAL HONORS, CELEBRATES, AND SHARES THE MEANINGFUL WAYS IN WHICH COMMUNITIES EXPRESS THEIR CREATIVITY AND CULTURAL TRADITIONS THROUGH MUSIC, DANCE, FOOD, CRAFTS AND OTHER FOLK ARTS TO ENHANCE APPRECIATION OF DIVERSE TRADITIONS AND CONTRIBUTE TO COMMUNITY VIBRANCY AND INCLUSIVITY. 14 14 6 621 0 0 1114819 878259 215044 160485 1109 1459 -16907 -10032 1314065 1030171 0 0 0 0 311835 294974 0 0 16880 924415 912041 1236250 1207015 77815 -176844 273879 227577 100995 221537 172884 6040 X THE NORTH CAROLINA FOLK FESTIVAL HONORS, CELEBRATES, AND SHARES THE MEANINGFUL WAYS IN WHICH COMMUNITIES EXPRESS THEIR CREATIVITY AND CULTURAL TRADITIONS THROUGH MUSIC, DANCE, FOOD, CRAFTS AND OTHER FOLK ARTS TO ENHANCE APPRECIATION OF DIVERSE TRADITIONS AND CONTRIBUTE TO COMMUNITY VIBRANCY AND INCLUSIVITY. 0 0 843352 160485 THE NORTH CAROLINA FOLK FESTIVAL TYPICALLY PRESENTS A FREE, LARGE-SCALE, THREE-DAY OUTDOOR EVENT. IT FEATURES OVER 300 OF THE FINEST FOLK AND TRADITIONAL MUSICIANS, DANCERS, CRAFTSPEOPLE, AND OTHER KEEPERS OF CULTURE IN PERFORMANCES, WORKSHOPS, AND DEMONSTRATIONS, PLUS CHILDREN'S ACTIVITIES, SAVORY REGIONAL AND GLOBAL CUISINES, CRAFT BREWS, NON-STOP PARTICIPATORY DANCING, STORYTELLING, PARADES, AND MORE. THE 2023 FESTIVAL HOSTED OVER 25 PERFORMING GROUPS, AND PROVIDED 10 MUSIC JAM SESSIONS AND 6 DANCE WORKSHOPS 843352 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 100 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 14 14 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 1 0 0 NC X JODEE RUPPEL 3362988115 200 N DAVIE STREET STE 401 GREENSBORO NC 27401 MARIA GONZALEZ VICE CHAIR 1.00 X X 0 0 0 BARBAR RUBY TREASURER 1.00 X X 0 0 0 VICTORIA MILSTEIN SECRETARY 1.00 X X 0 0 0 DINA COKER DIRECTOR 1.00 X 0 0 0 RAY COVINGTON DIRECTOR 1.00 X 0 0 0 TINA FIRESHEETS DIRECTOR 1.00 X 0 0 0 KEVIN H GRAY DIRECTOR 1.00 X 0 0 0 LALENJA HARRINGTON DIRECTOR 1.00 X 0 0 0 DENNY KELLY DIRECTOR 1.00 X 0 0 0 ROBERT POMPEY DIRECTOR 1.00 X 0 0 0 JOSE A SANDOVAL DIRECTOR 1.00 X 0 0 0 WAIYI TSE DIRECTOR 1.00 X 0 0 0 THOMAS WHITE DIRECTOR 1.00 X 0 0 0 CHRIS WILSON DIRECTOR 1.00 X 0 0 0 AMY GROSSMAN PRESIDENT/CEO 40.00 X 85974 0 0 85974 0 0 0 0 0 0 0 17468 262000 598791 878259 FOOD VENDORS INCOME 711190 160027 160027 REFUNDS & REBATES 711190 458 458 160485 1459 1459 27430 17468 37462 -10032 -10032 1030171 160485 0 -8573 X 85974 42987 42987 209000 125400 83600 758683 674965 66838 16880 112755 112755 10021 10021 311 311 576 576 29695 29695 1207015 843352 346783 16880 125251 47916 147033 178642 300 300 21606 20887 1295 719 273879 227577 22450 144424 57500 0 21045 77113 100995 221537 X 85384 6040 87500 0 172884 6040 273879 227577 -176844 10000 0 X X 0 1 X 1 0 X 170547 984515 1114819 905689 3175570 52664 192218 198550 253348 696780 223211 1176733 1313369 1159037 3872350 3872350 8 1019 1109 1459 3595 189687 189687 4065632 409 0.95250 0.93400 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 21606 20887 719 719 LONG TERM DEBT - NOTE PAYABLE 7113 LINE OF CREDIT 70000 77113 X 1386372 318739 318739 1067633 -37462 -37462 1030171 1553216 308739 37462 346201 1207015 0 1207015 PART X, LINE 2: THE FESTIVAL IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3). ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. THE FESTIVAL ACCOUNTS FOR UNCERTAIN INCOME TAX POSITIONS BY PRESCRIBING A MINIMUM PROBABILITY THRESHOLD A TAX POSITION MUST MEET BEFORE A FINANCIAL STATEMENT INCOME TAX BENEFIT IS RECOGNIZED. THE MINIMUM THRESHOLD IS DEFINED AS A TAX POSITION, BASED SOLELY ON ITS TECHNICAL MERITS, THAT WOULD MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION BY THE RELEVANT TAX AUTHORITY WITH KNOWLEDGE OF THE SAME FACTS. THE TAX BENEFIT TO BE RECOGNIZED IS MEASURED AS THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE RESOLUTION. BASED ON ALL KNOWN FACTS AND CIRCUMSTANCES AND CURRENT TAX LAW, THE ORCHESTRA BELIEVES THE TOTAL AMOUNT OF UNCERTAIN INCOME TAX POSITION LIABILITIES AND RELATED ACCRUED INTEREST ARE NOT MATERIAL TO ITS FINANCIAL POSITION. AS OF DECEMBER 31, 2023 AND INCLUDING THE PREVIOUS TWO YEARS CONSIDERING EXTENSIONS, THE FESTIVAL'S INCOME TAX RETURNS ARE OPEN AND SUBJECT TO EXAMINATION BY TAX AUTHORITIES WITH RELEVANT JURISDICTION. SHOULD SUCH AN EXAMINATION TAKE PLACE, MANAGEMENT DOES NOT ANTICIPATE ANY SIGNIFICANT ISSUES RELATED TO THE OPEN YEARS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING FOLK A'FARE CULINARY EVENT AND FUND 8528 8528 21747 FOLK FEST 5K AND RAFFLE 36370 8940 27430 13715 2000 44898 17468 27430 13715 23747 37462 -10032 1 X 1 30000 FMV X CITY SERVICES 1 223348 FMV X MARKETING 1 65391 FMV X SUPPLIES 1 0 FMV 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY AN OUTSIDE CPA FIRM. IT IS PROVIDED TO MEMBERS OF THE BOARD OF DIRECTORS OF THE NORTH CAROLINA FOLK FESTIVAL ON A SITE WHERE ALL BOARD MEMBERS CAN VIEW AND REVIEW FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL SELF-DISCLOSURE REQUIRED OF ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES. THOSE CHARGED WITH GOVERNANCE SIGNED CONFLICT OF INTEREST STATEMENTS. FORM 990, PART VI, SECTION B, LINE 15A ANNUALLY THE BOARD OF DIRECTORS REVIEWS THE SALARIES OF CEO AND APPROVES FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE ON FILE AT THE NORTH CAROLINA FOLK FESTIVAL OFFICE AT 200 N DAVIE ST, GREENSBORO, NC 27401. ANYONE REQUESTING TO REVIEW THESE DOCUMENTS CAN COME TO THE OFFICE TO DO SO. IF A WRITTEN REQUEST IS RECEIVED REQUESTING COPIES, THEY WOULD BE PROVIDED AS REQUIRED BY LAW. FORM 990, PART VI, LINE 15A BOARD OF DIRECTORS ANNUALLY REVIEWS SALARY OF CEO TO DETERMINE REASONABLENESS FORM 990, PART IX, LINE 11G ARTIST AND CREW FEES: PROGRAM SERVICE EXPENSES 349,897. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 349,897. BANK AND FIANCE CHARGES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 8,921. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,921. CONTRACTUAL SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 36,243. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 36,243. EQUIPMENT RENTALS: PROGRAM SERVICE EXPENSES 223,336. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 223,336. FAMILY AREA PROGRAM: PROGRAM SERVICE EXPENSES 2,154. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,154. FESTIVAL SERVICES: PROGRAM SERVICE EXPENSES 12,178. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,178. FUNDRAISING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 16,880. TOTAL EXPENSES 16,880. OFFICE, ORGANIZATION, AND MEETING EXPENSES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 18,674. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 18,674. PRODUCTION SUPPLIES: PROGRAM SERVICE EXPENSES 12,764. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,764. SURVEY AND RESEARCH: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 3,000. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,000. VENDOR AND SALES EXPENSE: PROGRAM SERVICE EXPENSES 53,195. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 53,195. VENUE RENTALS: PROGRAM SERVICE EXPENSES 8,550. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,550. VOLUNTEERS: PROGRAM SERVICE EXPENSES 12,891. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 12,891. FORM 990, PART XII LINE 2C. THE ORGANIZATION HAS NOT CHANGED ITS PROCESS FOR OVERSIGHT OF THE REVIEW OR SELECTION FOR AN INDEPENDENT ACCOUNTANT FROM THE PRIOR TAX YEAR.