Civic Intelligence

Globalfest Inc.

990 • Fiscal year 2019 • EIN 27-3612523

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 30, 2020

Organization ProfileWWW.GLOBALFEST.ORG
179 Prospect Park West 4LBrooklyn, NY 11215

(212) 539-8540

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

70th percentile

0.05x

Higher debt load relative to assets than 70% of similar nonprofits.

2019 filings • NTEE P20 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

82nd percentile

0.12x

Higher debt load relative to revenue than 82% of similar nonprofits.

2019 filings • NTEE P20 • <$500k nonprofits • Source year 2019

Net Margin

7th percentile

-82%

Higher net margin than 7% of similar nonprofits.

2019 filings • NTEE P20 • <$500k nonprofits • Source year 2019

Top Officer Pay

82nd percentile

$0

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • NTEE P20 • <$500k nonprofits • Source year 2019

Asset Growth

23rd percentile

-24%

Faster asset growth than 23% of similar nonprofits.

2019 filings • NTEE P20 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

6th percentile

-68%

Faster revenue growth than 6% of similar nonprofits.

2019 filings • NTEE P20 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets70th percentile

Assets

Down

$281,926

Down $86,660 (-24%) from 2018

Net Assets

Down

$268,716

Down $94,360 (-26%) from 2018

Liabilities

Up

$13,210

Up $7,700 (+140%) from 2018

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin7th percentile

Revenue

Down

$114,412

Down $246,258 (-68%) from 2018

Expenses

Down

$208,772

Down $33,177 (-14%) from 2018

Net Income

Down

-$94,360

Down $213,081 (-179%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2013: $104,012Liabilities 2013: $120Net Assets 2013: $103,8922013Assets 2014: $69,042Liabilities 2014: $7,959Net Assets 2014: $61,0832014Assets 2015: $471,951Liabilities 2015: $17,032Net Assets 2015: $454,9192015Assets 2016: $372,640Liabilities 2016: $12,652Net Assets 2016: $359,9882016Assets 2017: $253,534Liabilities 2017: $9,179Net Assets 2017: $244,3552017Assets 2018: $368,586Liabilities 2018: $5,510Net Assets 2018: $363,0762018Assets 2019: $281,926Liabilities 2019: $13,210Net Assets 2019: $268,7162019Assets 2020: $321,911Liabilities 2020: $3,012Net Assets 2020: $318,8992020Assets 2021: $228,332Liabilities 2021: $3,012Net Assets 2021: $225,3202021Assets 2022: $182,506Liabilities 2022: $1,512Net Assets 2022: $180,9942022

Highlighted filing

2019

Assets$281,926
Liabilities$13,210
Net Assets$268,716
Open 2019 Filing

Operations Trend

Revenue Growth6th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KExpenses 2013: $157,2142013Revenue 2014: $132,746Expenses 2014: $175,555Net Income 2014: -$42,8092014Revenue 2015: $580,239Expenses 2015: $186,403Net Income 2015: $393,8362015Revenue 2016: $172,225Expenses 2016: $267,156Net Income 2016: -$94,9312016Revenue 2017: $160,320Expenses 2017: $275,953Net Income 2017: -$115,6332017Revenue 2018: $360,670Expenses 2018: $241,949Net Income 2018: $118,7212018Revenue 2019: $114,412Expenses 2019: $208,772Net Income 2019: -$94,3602019Revenue 2020: $240,036Expenses 2020: $189,853Net Income 2020: $50,1832020Revenue 2021: $100,141Expenses 2021: $193,720Net Income 2021: -$93,5792021Revenue 2022: $81,109Expenses 2022: $125,435Net Income 2022: -$44,3262022

Highlighted filing

2019

Revenue$114,412
Expenses$208,772
Net Income-$94,360
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 30, 2020
Return Version
2018v3.1
Gross Receipts
$114,412
Mission and Program Overview

Mission

To advance and promote international performing arts traditions throughout the north american presenting field through activities including festivals, showcases and concerts, etc.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$341,119$256,526▼ $84,593
Pledges and Grants Receivable$24,133$25,400▲ $1,267
Intangible Assets$3,334--
Total Assets$368,586$281,926▼ $86,660
Liabilities
Accounts Payable and Accrued Expenses$5,510$13,210▲ $7,700
Total Liabilities$5,510$13,210▲ $7,700
Net Assets / Fund Balance
Unrestricted Net Assets$243,529$224,169▼ $19,360
Temporarily Rstr Net Assets$119,547$44,547▼ $75,000
Total Net Assets Fund Balance$363,076$268,716▼ $94,360
Total Liabilities and Net Assets / Fund Balance$368,586$281,926▼ $86,660
Compensation and Service Providers
Top Officer Pay82nd percentile

Board Members and Trustees

NameTitle
Isabel SofferPresident
Bill BraginSecretary
Shannon ThakeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$75,059
Program Service Revenue
$36,819
Investment Income
$0
Other Revenue
$2,534
All Other Contributions
$42,752
Change in Net Assets
$-94,360
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$208,772
Total Fundraising Expense$6,562
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$50,161$20,187$3,880$74,228
Occupancy$24,740$0$0$24,740
Advertising$5,531$1,258$0$6,789
Office Expenses$1,904$2,115$2,682$6,701
Conferences and Meetings$6,480$0$0$6,480
All Other Expenses$5,000$0$0$5,000
Other Expenses$2,662$1,785$0$4,447
Travel$4,290$62$0$4,352
Fees for Services Accounting$0$4,091$0$4,091
Depreciation Depletion$0$3,333$0$3,333
Insurance$237$0$0$237
Total Functional Expenses$168,498$33,712$6,562$208,772
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Globalfest Inc
EIN
27-3612523
Phone
2125398540
Address
179 PROSPECT PARK WEST 4L, BROOKLYN, NY 11215

Signing Officer

Name
Shannon Thake
Title
Treasurer
Phone
2125398540
Signed
2020-06-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shannon Thake
Formed
2010
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Rich and Bander Llp
Address
79 Madison Avenue 2nd Floor, New York, NY 10016
Preparer
Jonathan a Bander
Phone
2126842470
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Organization's process to review form 990. Form 990 is made available to all officers and members of the governing board.”

Pt VI, Line 12C

“Enforcement of conflicts policy the officers and the board of directors regularly review the conflict of interest policy and oversee both initial and annual disclosures. And related party transactions must be approved by the board as fair, reasonable, and in the best interest of the corporation.”

Pt VI, Line 19

“Governing documents disclosure explanation - certain policies and documents can be made available upon request.”

Form 990, Part III, Line 4D

“Other programs that catalyze creative and 5000. 0. 0.”

Raw XML Appendix393 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$281,926
Liabilities
$13,210
Net assets
$268,716
Revenue
$114,412
Expenses
$208,772
Net income
-$94,360
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.83$0.02$1.81$0.81$1.25$0.44
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.28$0.03$2.25$1.00$1.94$0.94
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.22$0.03$3.19$2.40$1.90$0.50
2019Detailed filing. Detailed filing data is available for this year.$2.82$0.13$2.69$1.14$2.09$0.94
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.69$0.06$3.63$3.61$2.42$1.19
2017Detailed filing. Detailed filing data is available for this year.$2.54$0.09$2.44$1.60$2.76$1.16
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.73$0.13$3.60$1.72$2.67$0.95
2015Detailed filing. Detailed filing data is available for this year.$4.72$0.17$4.55$5.80$1.86$3.94
2014Detailed filing. Detailed filing data is available for this year.$0.69$0.08$0.61$1.33$1.76$0.43
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.04$0.00$1.04$1.57