Civic Intelligence

500 Festival Inc

990 • Fiscal year 2017 • EIN 35-1004320

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 24, 2018

Organization Profilewww.500festival.com

View Organization Page

21 VIRGINIA AVENUE No 500Indianapolis, IN 46204

(317) 927-3378

Siviq Scores

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

Liabilities / Assets

49th percentile

0.14x

Higher debt load relative to assets than 49% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

43rd percentile

0.15x

Higher debt load relative to revenue than 43% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2017

Net Margin

30th percentile

0.1%

Higher net margin than 30% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

93rd percentile

$379,856

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2017

Asset Growth

35th percentile

0.8%

Faster asset growth than 35% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

9th percentile

-26%

Faster revenue growth than 9% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets49th percentile

Assets

Up

$6,421,077

Up $49,607 (+0.8%) from 2016

Net Assets

Up

$5,524,216

Up $66,146 (+1.2%) from 2016

Liabilities

Down

$896,861

Down $16,539 (-1.8%) from 2016

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin30th percentile

Revenue

Down

$6,149,082

Down $2,154,524 (-26%) from 2016

Expenses

Down

$6,143,210

Down $1,856,163 (-23%) from 2016

Net Income

Down

$5,872

Down $298,361 (-98%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

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

$10M$5.0M$0Assets 2012: $5,233,991Liabilities 2012: $610,117Net Assets 2012: $4,623,8742012Assets 2013: $5,369,915Liabilities 2013: $672,084Net Assets 2013: $4,697,8312013Assets 2014: $6,048,961Liabilities 2014: $956,742Net Assets 2014: $5,092,2192014Assets 2015: $5,961,455Liabilities 2015: $783,592Net Assets 2015: $5,177,8632015Assets 2016: $6,371,470Liabilities 2016: $913,400Net Assets 2016: $5,458,0702016Assets 2017: $6,421,077Liabilities 2017: $896,861Net Assets 2017: $5,524,2162017Assets 2018: $6,304,956Liabilities 2018: $833,454Net Assets 2018: $5,471,5022018Assets 2019: $6,000,036Liabilities 2019: $663,010Net Assets 2019: $5,337,0262019Assets 2020: $7,041,307Liabilities 2020: $1,609,285Net Assets 2020: $5,432,0222020Assets 2021: $7,281,071Liabilities 2021: $1,570,652Net Assets 2021: $5,710,4192021Assets 2022: $6,763,861Liabilities 2022: $637,579Net Assets 2022: $6,126,2822022Assets 2023: $7,179,179Liabilities 2023: $715,767Net Assets 2023: $6,463,4122023Assets 2024: $9,726,220Liabilities 2024: $3,191,689Net Assets 2024: $6,534,5312024

Highlighted filing

2017

Assets$6,421,077
Liabilities$896,861
Net Assets$5,524,216
Open 2017 Filing

Operations Trend

Revenue Growth9th percentile

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

$10M$5.0M$0-$5.0MExpenses 2012: $6,048,1872012Expenses 2013: $6,314,1562013Revenue 2014: $6,641,954Expenses 2014: $6,302,330Net Income 2014: $339,6242014Revenue 2015: $6,331,767Expenses 2015: $6,223,139Net Income 2015: $108,6282015Revenue 2016: $8,303,606Expenses 2016: $7,999,373Net Income 2016: $304,2332016Revenue 2017: $6,149,082Expenses 2017: $6,143,210Net Income 2017: $5,8722017Revenue 2018: $6,019,372Expenses 2018: $6,089,102Net Income 2018: -$69,7302018Revenue 2019: $5,972,112Expenses 2019: $6,098,810Net Income 2019: -$126,6982019Revenue 2020: $3,459,427Expenses 2020: $3,344,309Net Income 2020: $115,1182020Revenue 2021: $3,808,947Expenses 2021: $3,726,766Net Income 2021: $82,1812021Revenue 2022: $5,772,745Expenses 2022: $5,188,240Net Income 2022: $584,5052022Revenue 2023: $5,677,601Expenses 2023: $5,427,853Net Income 2023: $249,7482023Revenue 2024: $5,936,069Expenses 2024: $6,023,830Net Income 2024: -$87,7612024

Highlighted filing

2017

Revenue$6,149,082
Expenses$6,143,210
Net Income$5,872
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 24, 2018
Return Version
2016v3.0
Gross Receipts
$6,237,316
Mission and Program Overview

Mission

The mission of the 500 festival is to produce life-enriching events and programs that celebrate the spirit and legacy of the indianapolis 500 and foster a positive impact on the city of indianapolis and state of indiana.

To create and produce life-enriching events and programs that benefit indiana citizens while celebrating and supporting the economic impact, spirit and legacy of the indianapolis 500

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,202,780$3,223,794▲ $21,014
Cash and Non-Interest-Bearing Accounts$2,028,076$2,136,180▲ $108,104
Investments in Publicly Traded Securities$601,257$675,754▲ $74,497
Accounts Receivable$358,140$228,075▼ $130,065
Prepaid Expenses and Deferred Charges$109,548$122,069▲ $12,521
Savings and Temporary Cash Investments$71,669$35,205▼ $36,464
Total Assets$6,371,470$6,421,077▲ $49,607
Liabilities
Deferred Revenue$507,988$479,079▼ $28,909
Accounts Payable and Accrued Expenses$405,412$417,782▲ $12,370
Total Liabilities$913,400$896,861▼ $16,539
Net Assets / Fund Balance
Unrestricted Net Assets$5,389,538$5,492,148▲ $102,610
Temporarily Rstr Net Assets$68,532$32,068▼ $36,464
Total Net Assets Fund Balance$5,458,070$5,524,216▲ $66,146
Total Liabilities and Net Assets / Fund Balance$6,371,470$6,421,077▲ $49,607

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,550,684$180,071$1,730,755
Land$1,474,347-$1,474,347
Equipment$117,960$440,345$558,305
Leasehold Improvements$80,803$105,488$186,291
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert Bryantpresident & CEOFT$255,726$124,130$379,856
JENnifer LOWEvice president of financeFT$110,180$18,968$129,148

Board Members and Trustees

NameTitle
Justin ChristianChair
Patty MartinImmediate Past Chair
Rob HillmanVice Chairman
Aaron ReitzDirector
Aasif BadeDirector
Allison MelangtonDirector
Bill HenleyDirector
David PentzienDirector
Dennis MurphyDirector
Doug BolesDirector
Fred DufourDirector
James PooreDirector
Jim FreemanDirector
Joe SantucciDirector
Kathy CabelloDirector
Kevin PastoorDirector
Larry DeliaDirector
Larry DeweyDirector
Marty HillDirector
Melissa GreenwaltDirector
Melissa ProffittDirector
Mike StrohlDirector
Mike WellsDirector
Rob PruittDirector
Sarah FisherDirector
Scott MolanderDirector
Steve AlonsoDirector
Susan MasselaDirector
Tim OliverDirector
Zack ScottDirector
daviD BRATTONDirector
Leslie Carter-prallSecretary
Bob BrodyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,093,744
Program Service Revenue
$4,761,838
Investment Income
$26,736
Other Revenue
$266,764
All Other Contributions
$605,948
Change in Net Assets
$5,872

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Food Inventory24$209,711cost
Other Non Cash Contri Table10$182,075cost
Other Non Cash Contri Table8$95,919cost
Total Noncash Contributions42$487,705-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,149,082
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$984,564
Total Revenue per Audited Statements
$7,133,646
Total Revenue per Form 990
$6,149,082
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,492,500
Salaries, Compensation, and Employee Benefits$1,616,210
Grants and Similar Amounts Paid$34,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$595,138$198,380-$793,518
Current Officers, Directors, Trustees, and Key Employees$409,129$136,376-$545,505
Advertising$363,103--$363,103
Occupancy$249,124$83,041-$332,165
Other Employee Benefits$106,406$35,469-$141,875
Payroll Taxes$69,042$23,014-$92,056
Conferences and Meetings$86,814--$86,814
Depreciation Depletion$37,970$12,657-$50,627
Pension Plan Contributions$32,442$10,814-$43,256
Information Technology$27,278$9,093-$36,371
All Other Expenses$35,294--$35,294
Grants to Domestic Individuals$34,500--$34,500
Other Expenses$19,223$6,408-$25,631
Fees for Services Accounting-$21,355-$21,355
Travel$20,456--$20,456
Office Expenses$14,138$4,712-$18,850
Fees for Services Legal-$2,338-$2,338
Total Functional Expenses$5,591,255$551,955$0$6,143,210

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,067,500
Expenses per Audited Statements$6,143,210
Total Expenses per Form 990$6,143,210
Expenses Not Reported on Form 990$924,290
Expenses Not Reported on Financial Statements$0
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 2

“Three members of the board of directors have working relationships with indianapolis motor speedway.”

Form 990, Part VI, Section B, line 11B

“The president and ceo as well as the vp of finance and hr review the form 990 prior to issuance.”

Form 990, Part VI, Section B, line 12C

“At the annual board meeting where new board members are introduced, all board members are given a new conflict of interest statement for completion.”

Form 990, Part VI, Section B, line 15

“The board of directors has an executive committee that determines compensation. From time to time a salary study is done to make sure compensation is in alignment.”

Form 990, Part VI, Section C, line 19

“We do not make these documents available to the public.”

form 990 part VI, section C, line 19:

“the audit oversight process has not changed from the prior year.”

Filing and Contact Details

Filer

Filer Name
500 Festival Inc
EIN
35-1004320
Phone
3179273378
Address
21 VIRGINIA AVENUE No 500, INDIANAPOLIS, IN 46204

Signing Officer

Name
Robert Bryant
Title
President and CEO
Phone
3179273378
Signed
2018-02-24

Organization Details

Principal Officer
Robert Bryant
Formed
1956
Legal Domicile
In
Voting Board Members
33
Independent Board Members
33
Employees
20
Volunteers
4,500

Preparer

Firm
Greenwalt Cpas Inc
Address
5342 W VERMONT STREET, INDIANAPOLIS, IN 46224
Preparer
Amanda Meko CPA
Phone
3172412999
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IRS990/ActivityOrMissionDesc0TO CREATE AND PRODUCE LIFE-ENRICHING EVENTS AND PROGRAMS THAT BENEFIT INDIANA CITIZENS WHILE CELEBRATING AND SUPPORTING THE ECONOMIC IMPACT, SPIRIT AND LEGACY OF THE INDIANAPOLIS 500
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IRS990/Desc0THE 500 FESTIVAL:PROMOTE CIVIC AND COMMUNITY PRIDE IN INDIANAPOLIS BY SPONSORING AND PRESENTING EVENTS IN CONNECTION WITH THE ANNUAL INDIANAPOLIS 500 RACE. INCLUDED IN THE EVENTS ARE THE 500 FESTIVAL PARADE, WHICH IS CONDUCTED ANNUALLY BEFORE APPROXIMATELY 300,000 SPECTATORS, A BLACK TIE BALL, AND THE 500 FESTIVAL MINI MARATHON, A 13.1 MILE FOOTRACE OVER THE STREETS OF INDIANAPOLIS WHICH HAS APPROXIMATELY 35,000 PARTICIPANTS.
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IRS990/Form990PartVIISectionAGrp/PersonNm7JUSTIN CHRISTIAN
IRS990/Form990PartVIISectionAGrp/PersonNm8LARRY DELIA
IRS990/Form990PartVIISectionAGrp/PersonNm9LARRY DEWEY
IRS990/Form990PartVIISectionAGrp/PersonNm10FRED DUFOUR
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IRS990/Form990PartVIISectionAGrp/PersonNm12JIM FREEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm13MELISSA GREENWALT
IRS990/Form990PartVIISectionAGrp/PersonNm14BILL HENLEY
IRS990/Form990PartVIISectionAGrp/PersonNm15MARTY HILL
IRS990/Form990PartVIISectionAGrp/PersonNm16ROB HILLMAN
IRS990/Form990PartVIISectionAGrp/PersonNm17PATTY MARTIN
IRS990/Form990PartVIISectionAGrp/PersonNm18SUSAN MASSELA
IRS990/Form990PartVIISectionAGrp/PersonNm19ALLISON MELANGTON
IRS990/Form990PartVIISectionAGrp/PersonNm20SCOTT MOLANDER
IRS990/Form990PartVIISectionAGrp/PersonNm21DENNIS MURPHY
IRS990/Form990PartVIISectionAGrp/PersonNm22TIM OLIVER
IRS990/Form990PartVIISectionAGrp/PersonNm23KEVIN PASTOOR
IRS990/Form990PartVIISectionAGrp/PersonNm24DAVID PENTZIEN
IRS990/Form990PartVIISectionAGrp/PersonNm25JAMES POORE
IRS990/Form990PartVIISectionAGrp/PersonNm26MELISSA PROFFITT
IRS990/Form990PartVIISectionAGrp/PersonNm27ROB PRUITT
IRS990/Form990PartVIISectionAGrp/PersonNm28AARON REITZ
IRS990/Form990PartVIISectionAGrp/PersonNm29JOE SANTUCCI
IRS990/Form990PartVIISectionAGrp/PersonNm30ZACK SCOTT
IRS990/Form990PartVIISectionAGrp/PersonNm31MIKE STROHL
IRS990/Form990PartVIISectionAGrp/PersonNm32MIKE WELLS
IRS990/Form990PartVIISectionAGrp/PersonNm33Robert Bryant
IRS990/Form990PartVIISectionAGrp/PersonNm34JENnifer LOWE
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt310
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt320
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt130
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16VICE CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt17IMMEDIATE PAST CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt26DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt27DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt28DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt29DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt31DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt32DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt33president & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt34vice president of finance
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0The mission of the 500 Festival is to produce life-enriching events and programs that celebrate the spirit and legacy of the Indianapolis 500 and foster a positive impact on the city of Indianapolis and state of Indiana.
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Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$6,421,077
Liabilities
$896,861
Net assets
$5,524,216
Revenue
$6,149,082
Expenses
$6,143,210
Net income
$5,872
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$9.73$3.19$6.53$5.94$6.02$0.09
2023Detailed filing. Detailed filing data is available for this year.$7.18$0.72$6.46$5.68$5.43$0.25
2022Detailed filing. Detailed filing data is available for this year.$6.76$0.64$6.13$5.77$5.19$0.58
2021Detailed filing. Detailed filing data is available for this year.$7.28$1.57$5.71$3.81$3.73$0.08
2020Detailed filing. Detailed filing data is available for this year.$7.04$1.61$5.43$3.46$3.34$0.12
2019Detailed filing. Detailed filing data is available for this year.$6.00$0.66$5.34$5.97$6.10$0.13
2018Detailed filing. Detailed filing data is available for this year.$6.30$0.83$5.47$6.02$6.09$0.07
2017Detailed filing. Detailed filing data is available for this year.$6.42$0.90$5.52$6.15$6.14$0.01
2016Detailed filing. Detailed filing data is available for this year.$6.37$0.91$5.46$8.30$8.00$0.30
2015Detailed filing. Detailed filing data is available for this year.$5.96$0.78$5.18$6.33$6.22$0.11
2014Detailed filing. Detailed filing data is available for this year.$6.05$0.96$5.09$6.64$6.30$0.34
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.37$0.67$4.70$6.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.23$0.61$4.62$6.05