Civic Intelligence

Riverartsfest Inc

990 • Fiscal year 2023 • EIN 45-4274813

Jan 01, 2023 to Dec 31, 2023 • Filed on May 10, 2024

Organization ProfileWWW.RIVERARTSMEMPHIS.ORG
PO Box 40001Memphis, TN 38174

(901) 485-1350

Siviq Scores

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

Liabilities / Assets

64th percentile

0.01x

Higher debt load relative to assets than 64% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

64th percentile

0.01x

Higher debt load relative to revenue than 64% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

84th percentile

34%

Higher net margin than 84% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

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

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

86th percentile

53%

Faster asset growth than 86% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

60th percentile

14%

Faster revenue growth than 60% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$489,549

Up $169,726 (+53%) from 2022

Net Assets

Up

$486,849

Up $167,026 (+52%) from 2022

Liabilities

Up

$2,700

Up $2,700 from 2022

Revenue And Expenses
Liabilities / Revenue64th percentileNet Margin84th percentile

Revenue

Up

$437,809

Up $54,916 (+14%) from 2022

Expenses

Up

$288,090

Up $18,449 (+6.8%) from 2022

Net Income

Up

$149,719

Up $36,467 (+32%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth86th percentile

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

$600K$400K$200K$0Assets 2012: $43,519Liabilities 2012: $0Net Assets 2012: $43,5192012Assets 2013: $100,079Liabilities 2013: $0Net Assets 2013: $100,0792013Assets 2014: $147,249Liabilities 2014: $0Net Assets 2014: $147,2492014Assets 2015: $165,417Liabilities 2015: $736Net Assets 2015: $164,6812015Assets 2016: $227,820Liabilities 2016: $17,587Net Assets 2016: $210,2332016Assets 2017: $252,709Liabilities 2017: $12,073Net Assets 2017: $240,6362017Assets 2018: $310,807Liabilities 2018: $0Net Assets 2018: $310,8072018Assets 2019: $261,068Liabilities 2019: $0Net Assets 2019: $261,0682019Assets 2020: $243,861Liabilities 2020: $0Net Assets 2020: $243,8612020Assets 2021: $255,334Liabilities 2021: $0Net Assets 2021: $255,3342021Assets 2022: $319,823Liabilities 2022: $0Net Assets 2022: $319,8232022Assets 2023: $489,549Liabilities 2023: $2,700Net Assets 2023: $486,8492023Assets 2024: $586,032Liabilities 2024: $0Net Assets 2024: $586,0322024

Highlighted filing

2023

Assets$489,549
Liabilities$2,700
Net Assets$486,849
Open 2023 Filing

Operations Trend

Revenue Growth60th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2012: $194,947Expenses 2012: $228,015Net Income 2012: -$33,0682012Revenue 2013: $230,679Expenses 2013: $174,119Net Income 2013: $56,5602013Revenue 2014: $270,125Expenses 2014: $222,955Net Income 2014: $47,1702014Revenue 2015: $240,583Expenses 2015: $230,973Net Income 2015: $9,6102015Revenue 2016: $373,074Expenses 2016: $327,522Net Income 2016: $45,5522016Revenue 2017: $309,793Expenses 2017: $284,968Net Income 2017: $24,8252017Revenue 2018: $408,441Expenses 2018: $338,270Net Income 2018: $70,1712018Revenue 2019: $329,566Expenses 2019: $384,318Net Income 2019: -$54,7522019Revenue 2020: $40,048Expenses 2020: $70,124Net Income 2020: -$30,0762020Revenue 2021: $160,433Expenses 2021: $153,599Net Income 2021: $6,8342021Revenue 2022: $382,893Expenses 2022: $269,641Net Income 2022: $113,2522022Revenue 2023: $437,809Expenses 2023: $288,090Net Income 2023: $149,7192023Revenue 2024: $615,518Expenses 2024: $516,335Net Income 2024: $99,1832024

Highlighted filing

2023

Revenue$437,809
Expenses$288,090
Net Income$149,719
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 10, 2024
Return Version
2023v5.1
Gross Receipts
$437,809
Mission and Program Overview

Mission

Create access to a broad array of art experiences: nurture the development and understanding of diverse art forms: and encourage the expanding depth of cultural life in the city of memphis

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$318,577$486,685▲ $168,108
Total Assets$319,823$489,549▲ $169,726
Other Assets Total$1,246$2,864▲ $1,618
Liabilities
Accounts Payable and Accrued Expenses-$2,700-
Total Liabilities$0$2,700▲ $2,700
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$319,823$486,849▲ $167,026
Total Net Assets Fund Balance$319,823$486,849▲ $167,026
Total Liabilities and Net Assets / Fund Balance$319,823$489,549▲ $169,726

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,864--
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Angela LessDirector
Bonnie ThorntonDirector
Chuck MitchellDirector
Dan FlickDirector
Deborah PaffordDirector
Denise FordDirector
James WellsDirector
Kelley MoriceDirector
Portia JohnsonDirector
Don WilliamsFinance Director
Revenue and Support

Revenue Composition

Contributions and Grants
$145,554
Program Service Revenue
$283,632
Investment Income
$8,623
Other Revenue
$0
All Other Contributions
$145,554
Change in Net Assets
$149,719
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$288,090
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$24,732--$24,732
Other Expenses$16,234--$16,234
Insurance$9,570--$9,570
Office Expenses$3,867--$3,867
Fees for Services Accounting$796--$796
Total Functional Expenses$288,090$0$0$288,090
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
Business relationship with 35% controlled entity
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“NO SET PROCESS”

Governing documents etc available to public Part VI line 19

“UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Riverartsfest Inc
EIN
45-4274813
Address
PO BOX 40001, MEMPHIS, TN 38174

Signing Officer

Name
Don Williams
Title
Finance Directo
Phone
9014851350
Signed
2024-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Don Williams
Formed
2012
Legal Domicile
Tn
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Ronald E Asplund CPA
Address
1511 HOWLING DR, COLLIERVILLE, TN 38017
Preparer
Ronald E Asplund CPA
Phone
9012189918
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1UPON REQUEST
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
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ReturnHeader/BuildTS02024-08-08 14:25:15Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0DON WILLIAMS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FINANCE DIRECTO
ReturnHeader/BusinessOfficerGrp/PhoneNum09014851350
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-10
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RONALD E ASPLUND CPA
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02024-09-13T22:54:44-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$489,549
Liabilities
$2,700
Net assets
$486,849
Revenue
$437,809
Expenses
$288,090
Net income
$149,719
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.86$0.00$5.86$6.16$5.16$0.99
2023Detailed filing. Detailed filing data is available for this year.$4.90$0.03$4.87$4.38$2.88$1.50
2022Detailed filing. Detailed filing data is available for this year.$3.20$0.00$3.20$3.83$2.70$1.13
2021Detailed filing. Detailed filing data is available for this year.$2.55$0.00$2.55$1.60$1.54$0.07
2020Detailed filing. Detailed filing data is available for this year.$2.44$0.00$2.44$0.40$0.70$0.30
2019Detailed filing. Detailed filing data is available for this year.$2.61$0.00$2.61$3.30$3.84$0.55
2018Summary only. Only limited summary data is available for this year.$3.11$0.00$3.11$4.08$3.38$0.70
2017Summary only. Only limited summary data is available for this year.$2.53$0.12$2.41$3.10$2.85$0.25
2016Summary only. Only limited summary data is available for this year.$2.28$0.18$2.10$3.73$3.28$0.46
2015Summary only. Only limited summary data is available for this year.$1.65$0.01$1.65$2.41$2.31$0.10
2014Summary only. Only limited summary data is available for this year.$1.47$0.00$1.47$2.70$2.23$0.47
2013Detailed filing. Detailed filing data is available for this year.$1.00$0.00$1.00$2.31$1.74$0.57
2012Summary only. Only limited summary data is available for this year.$0.44$0.00$0.44$1.95$2.28$0.33