Civic Intelligence

Outer Banks Seafood Festival

990 • Fiscal year 2020 • EIN 45-4382995

Jan 01, 2020 to Dec 31, 2020 • Filed on Apr 01, 2021

Organization ProfileOUTERBANKSSEAFOODFESTIVAL.ORG
PO Box 805Nags Head, NC 27959

(252) 441-8144

Siviq Scores

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

Liabilities / Assets

78th percentile

0.22x

Higher debt load relative to assets than 78% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

96th percentile

3.54x

Higher debt load relative to revenue than 96% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Source year 2020

Net Margin

2nd percentile

-1425%

Higher net margin than 2% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Source year 2020

Top Officer Pay

80th percentile

$0

Higher top officer pay than 80% of similar nonprofits.

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

2020 filings • NTEE S20 • <$500k nonprofits • Source year 2020

Asset Growth

10th percentile

-44%

Faster asset growth than 10% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

6th percentile

-99%

Faster revenue growth than 6% of similar nonprofits.

2020 filings • NTEE S20 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$65,891

Down $50,982 (-44%) from 2019

Net Assets

Down

$51,188

Down $59,141 (-54%) from 2019

Liabilities

Up

$14,703

Up $8,159 (+125%) from 2019

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin2nd percentile

Revenue

Down

$4,151

Down $284,192 (-99%) from 2019

Expenses

Down

$63,292

Down $204,886 (-76%) from 2019

Net Income

Down

-$59,141

Down $79,306 (-393%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$150K$100K$50K$0Assets 2012: $52,628Liabilities 2012: $21,149Net Assets 2012: $31,4792012Assets 2013: $20,243Liabilities 2013: $0Net Assets 2013: $20,2432013Assets 2014: $43,760Liabilities 2014: $0Net Assets 2014: $43,7602014Assets 2015: $60,634Liabilities 2015: $2,600Net Assets 2015: $58,0342015Assets 2016: $65,149Liabilities 2016: $178Net Assets 2016: $64,9712016Assets 2017: $94,397Liabilities 2017: $178Net Assets 2017: $94,2192017Assets 2018: $90,442Liabilities 2018: $278Net Assets 2018: $90,1642018Assets 2019: $116,873Liabilities 2019: $6,544Net Assets 2019: $110,3292019Assets 2020: $65,891Liabilities 2020: $14,703Net Assets 2020: $51,1882020Assets 2021: $72,482Liabilities 2021: $278Net Assets 2021: $72,2042021Assets 2022: $89,713Liabilities 2022: $78Net Assets 2022: $89,6352022Assets 2023: $90,784Liabilities 2023: $78Net Assets 2023: $90,7062023Assets 2024: $96,585Liabilities 2024: $1,892Net Assets 2024: $94,6932024

Highlighted filing

2020

Assets$65,891
Liabilities$14,703
Net Assets$51,188
Open 2020 Filing

Operations Trend

Revenue Growth6th percentile

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

$300K$200K$100K$0-$100KRevenue 2012: $139,482Expenses 2012: $108,003Net Income 2012: $31,4792012Revenue 2013: $223,707Expenses 2013: $234,943Net Income 2013: -$11,2362013Revenue 2014: $160,684Expenses 2014: $137,167Net Income 2014: $23,5172014Revenue 2015: $159,825Expenses 2015: $145,551Net Income 2015: $14,2742015Revenue 2016: $240,379Expenses 2016: $233,442Net Income 2016: $6,9372016Revenue 2017: $279,977Expenses 2017: $250,729Net Income 2017: $29,2482017Revenue 2018: $239,938Expenses 2018: $243,993Net Income 2018: -$4,0552018Revenue 2019: $288,343Expenses 2019: $268,178Net Income 2019: $20,1652019Revenue 2020: $4,151Expenses 2020: $63,292Net Income 2020: -$59,1412020Revenue 2021: $234,122Expenses 2021: $213,106Net Income 2021: $21,0162021Revenue 2022: $270,013Expenses 2022: $252,582Net Income 2022: $17,4312022Revenue 2023: $257,401Expenses 2023: $256,330Net Income 2023: $1,0712023Revenue 2024: $254,259Expenses 2024: $250,272Net Income 2024: $3,9872024

Highlighted filing

2020

Revenue$4,151
Expenses$63,292
Net Income-$59,141
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Apr 1, 2021
Return Version
2020v4.0
Gross Receipts
$4,151
Mission and Program Overview

Mission

The mission of the outer banks seafood festival is to provide a fun and educational experience promoting, honoring and celebrating our coastal seafood heritage and community. Promote the positive social and economic impact of the seafood industry on the citizens of the outer banks; educate the public about seafood and its importance to the areas economy; publicize the wide variety of seafood indigenous to north carolina and the outer banks and provide the opportunity for people to enjoy it; boost tourism and recreation on the outer banks in the non-summer months; establish a scholarship program for educational pursuits related to the seafood industry; provide the opportunity for outer banks non-profit, civic, church and educational organizations to raise funds through participation in the festival.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$116,873$65,103▼ $51,770
Prepaid Expenses and Deferred Charges-$788-
Total Assets$116,873$65,891▼ $50,982
Liabilities
Other Liabilities$200$14,625▲ $14,425
Accounts Payable and Accrued Expenses$6,266--
Grants Payable$78$78→ $0
Total Liabilities$6,544$14,703▲ $8,159
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$110,329$51,188▼ $59,141
Total Net Assets Fund Balance$110,329$51,188▼ $59,141
Total Liabilities and Net Assets / Fund Balance$116,873$65,891▼ $50,982
Compensation and Service Providers
Top Officer Pay80th percentile

Board Members and Trustees

NameTitle
Richard HessChairman
Tim KellyVice Chair
Karen BrownDirector
Lee NettlesSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$4,143
Investment Income
$8
Other Revenue
$0
Change in Net Assets
$-59,141
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,292
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
Fees for Services Other$37,305--$37,305
Advertising$7,279--$7,279
Other Expenses$1,502--$1,502
Insurance$400$698-$1,098
Office Expenses-$708-$708
Fees for Services Accounting-$400-$400
Total Functional Expenses$61,486$1,806$0$63,292
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Advance Income$14,425
Deposits$200
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, Page 6, Part VI, Line 11B

“No review was or will be conducted.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Outer Banks Seafood Festival
EIN
45-4382995
Phone
2524418144
Address
PO BOX 805, NAGS HEAD, NC 27959

Signing Officer

Name
Karen Brown
Title
Director
Phone
2524418144
Signed
2021-04-01
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Hess
Formed
2012
Voting Board Members
8
Independent Board Members
8
Employees
0

Preparer

Firm
Dowdy & Osborne Llp
Address
PO BOX 9, NAGS HEAD, NC 27959
Preparer
Jeffrey B Dowdy
Phone
2524494404
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The mission of the outer banks seafood festival is to provide a fun and educational experience promoting, honoring and celebrating our coastal seafood heritage and community. Promote the positive social and economic impact of the seafood industry on the citizens of the outer banks; educate the public about seafood and its importance to the areas economy; publicize the wide variety of seafood indigenous to north carolina and the outer banks and provide the opportunity for people to enjoy it; boost tourism and recreation on the outer banks in the non-summer months; establish a scholarship program for educational pursuits related to the seafood industry; provide the opportunity for outer banks non-profit, civic, church and educational organizations to raise funds through participation in the festival.”

Form 990, Page 2, Part III, Line 4D

“A seafood festival to provide a fun and educational experience promoting, honoring and celebrating our coastal seafood heritage and community.”

Form 990, Part IX, Line 11G

“Seafood festival storage 625 0 0 tents/tables etc rentals 10,000 0 0 credit card merchant fee 613 0 0 supplies site 867 0 0 permits 200 0 0 event management 25,000 0 0 total 37,305 0 0”

Raw XML Appendix261 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MISSION OF THE OUTER BANKS SEAFOOD FESTIVAL IS TO PROVIDE A FUN AND EDUCATIONAL EXPERIENCE PROMOTING, HONORING AND CELEBRATING OUR COASTAL SEAFOOD HERITAGE AND COMMUNITY. PROMOTE THE POSITIVE SOCIAL AND ECONOMIC IMPACT OF THE SEAFOOD INDUSTRY ON THE CITIZENS OF THE OUTER BANKS; EDUCATE THE PUBLIC ABOUT SEAFOOD AND ITS IMPORTANCE TO THE AREAS ECONOMY; PUBLICIZE THE WIDE VARIETY OF SEAFOOD INDIGENOUS TO NORTH CAROLINA AND THE OUTER BANKS AND PROVIDE THE OPPORTUNITY FOR PEOPLE TO ENJOY IT; BOOST TOURISM AND RECREATION ON THE OUTER BANKS IN THE NON-SUMMER MONTHS; ESTABLISH A SCHOLARSHIP PROGRAM FOR EDUCATIONAL PURSUITS RELATED TO THE SEAFOOD INDUSTRY; PROVIDE THE OPPORTUNITY FOR OUTER BANKS NON-PROFIT, CIVIC, CHURCH AND EDUCATIONAL ORGANIZATIONS TO RAISE FUNDS THROUGH PARTICIPATION IN THE FESTIVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A SEAFOOD FESTIVAL TO PROVIDE A FUN AND EDUCATIONAL EXPERIENCE PROMOTING, HONORING AND CELEBRATING OUR COASTAL SEAFOOD HERITAGE AND COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO REVIEW WAS OR WILL BE CONDUCTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SEAFOOD FESTIVAL STORAGE 625 0 0 TENTS/TABLES ETC RENTALS 10,000 0 0 CREDIT CARD MERCHANT FEE 613 0 0 SUPPLIES SITE 867 0 0 PERMITS 200 0 0 EVENT MANAGEMENT 25,000 0 0 TOTAL 37,305 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 805
ReturnHeader/Filer/USAddress/CityNm0NAGS HEAD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027959
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0203819934
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DOWDY & OSBORNE LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 9
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NAGS HEAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027959
ReturnHeader/PreparerPersonGrp/PhoneNum02524494404
ReturnHeader/PreparerPersonGrp/PreparationDt02021-04-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JEFFREY B DOWDY
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02021-04-16T17:00:52-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KAREN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0BROWN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$65,891
Liabilities
$14,703
Net assets
$51,188
Revenue
$4,151
Expenses
$63,292
Net income
-$59,141
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.97$0.02$0.95$2.54$2.50$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.91$2.57$2.56$0.01
2022Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$2.70$2.53$0.17
2021Detailed filing. Detailed filing data is available for this year.$0.72$0.00$0.72$2.34$2.13$0.21
2020Detailed filing. Detailed filing data is available for this year.$0.66$0.15$0.51$0.04$0.63$0.59
2019Detailed filing. Detailed filing data is available for this year.$1.17$0.07$1.10$2.88$2.68$0.20
2018Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$2.40$2.44$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.94$2.80$2.51$0.29
2016Detailed filing. Detailed filing data is available for this year.$0.65$0.00$0.65$2.40$2.33$0.07
2015Detailed filing. Detailed filing data is available for this year.$0.61$0.03$0.58$1.60$1.46$0.14
2014Detailed filing. Detailed filing data is available for this year.$0.44$0.00$0.44$1.61$1.37$0.24
2013Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$2.24$2.35$0.11
2012Summary only. Only limited summary data is available for this year.$0.53$0.21$0.31$1.39$1.08$0.31