Civic Intelligence

Arkansas Fashion Week

990 • Fiscal year 2021 • EIN 46-4426612

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 12, 2022

117 W Emma AveSpringdale, AR 72764

(479) 422-7305

Siviq Scores

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

Liabilities / Assets

86th percentile

0.51x

Higher debt load relative to assets than 86% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Liabilities / Revenue

78th percentile

0.27x

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

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Net Margin

30th percentile

0.9%

Higher net margin than 30% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Top Officer Pay

82nd percentile

$79,922

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 8.6% of source-year revenue.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2021

Asset Growth

91st percentile

103%

Faster asset growth than 91% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Revenue Growth

78th percentile

63%

Faster revenue growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2020 to 2021

Assets

Up

$499,617

Up $253,567 (+103%) from 2020

Net Assets

Up

$246,809

Up $6,260 (+2.6%) from 2020

Liabilities

Up

$252,808

Up $247,307 (+4496%) from 2020

Revenue

Up

$931,526

Up $359,028 (+63%) from 2020

Expenses

Up

$923,600

Up $492,518 (+114%) from 2020

Net Income

Down

$7,926

Down $133,490 (-94%) from 2020

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0-$200KAssets 2017: $2,458Liabilities 2017: $0Net Assets 2017: $2,4582017Assets 2018: $42,528Liabilities 2018: $391Net Assets 2018: $42,1372018Assets 2019: $103,357Liabilities 2019: $4,224Net Assets 2019: $99,1332019Assets 2020: $246,050Liabilities 2020: $5,501Net Assets 2020: $240,5492020Assets 2021: $499,617Liabilities 2021: $252,808Net Assets 2021: $246,8092021Assets 2022: $514,663Liabilities 2022: $365,117Net Assets 2022: $149,5462022Assets 2023: $330,671Liabilities 2023: $336,273Net Assets 2023: -$5,6022023

Highlighted filing

2021

Assets$499,617
Liabilities$252,808
Net Assets$246,809

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2017: $31,121Expenses 2017: $29,376Net Income 2017: $1,7452017Revenue 2018: $101,634Expenses 2018: $61,955Net Income 2018: $39,6792018Revenue 2019: $240,326Expenses 2019: $189,330Net Income 2019: $50,9962019Revenue 2020: $572,498Expenses 2020: $431,082Net Income 2020: $141,4162020Revenue 2021: $931,526Expenses 2021: $923,600Net Income 2021: $7,9262021Revenue 2022: $1,495,686Expenses 2022: $1,589,008Net Income 2022: -$93,3222022Revenue 2023: $1,803,639Expenses 2023: $1,958,787Net Income 2023: -$155,1482023

Highlighted filing

2021

Revenue$931,526
Expenses$923,600
Net Income$7,926
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 12, 2022
Return Version
2021v4.0
Gross Receipts
$931,526
Mission and Program Overview

Mission

Education for artists and designers

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$201,771$313,826▲ $112,055
Pledges and Grants Receivable-$100,000-
Land, Buildings, and Equipment, Net$50,114$79,341▲ $29,227
Inventories for Sale or Use$9,050$2,000▼ $7,050
Accounts Receivable$5,048$1,950▼ $3,098
Total Assets$265,983$499,617▲ $233,634
Other Assets Total-$2,500-
Liabilities
Deferred Revenue-$224,958-
Accounts Payable and Accrued Expenses$5,501$27,850▲ $22,349
Total Liabilities$5,501$252,808▲ $247,307
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$217,500-
Net Assets Without Donor Restrictions$260,482$29,309▼ $231,173
Total Net Assets Fund Balance$260,482$246,809▼ $13,673
Total Liabilities and Net Assets / Fund Balance$265,983$499,617▲ $233,634

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$79,341$19,326-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Robin AtkinsonCEOFT$79,922$79,922

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$890,651
Program Service Revenue
$8,815
Investment Income
$0
Other Revenue
$32,060
All Other Contributions
$890,651
Change in Net Assets
$7,926

Audited Revenue Reconciliation

Revenue per Audited Statements
$931,526
Total Revenue per Audited Statements
$931,526
Total Revenue per Form 990
$931,526
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$463,737
Salaries, Compensation, and Employee Benefits$459,863
Total Fundraising Expense$94,945
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$218,465$48,026$60,557$327,048
Fees for Services Other$186,497--$186,497
Current Officers, Directors, Trustees, and Key Employees$39,961$39,961-$79,922
Occupancy$60,067$13,235$4,414$77,716
Advertising$26,592-$13,098$39,690
Payroll Taxes$21,712$7,392$5,088$34,192
Office Expenses$25,008$4,536$3,122$32,666
All Other Expenses$9,276$9,004$1,165$19,445
Other Employee Benefits$11,875$4,043$2,783$18,701
Depreciation Depletion$8,641$5,771$1,443$15,855
Other Expenses$18,837$8,712$3,203$8,712
Travel$1,459--$1,459
Insurance$987$217$72$1,276
Total Functional Expenses$683,104$145,551$94,945$923,600

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$923,600
Total Expenses per Audited Statements$923,600
Total Expenses per Form 990$923,600
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$28,210
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Film Premier Ev$17,973$17,973-$17,973
Spring Runway E$10,237$10,237-$10,237
Total Events$28,210$28,210-$28,210
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
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
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

A copy of the form 990 is emailed to the appropriate board members for review prior to e-filing.

Form 990, Page 6, Part VI, Line 19

All documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Interform
EIN
46-4426612
Phone
4794227305
Address
117 W EMMA AVE, SPRINGDALE, AR 72764
Doing Business As
Arkansas Fashion Week

Signing Officer

Name
Robin Atkinson
Title
CEO
Phone
4794227305
Signed
2022-10-12

Organization Details

Principal Officer
Robin Atkinson
Formed
2014
Voting Board Members
11
Independent Board Members
11
Employees
15
Volunteers
280

Preparer

Firm
Prz Cpas & Advisors
Address
4200 JENNY LIND RD STE B, FORT SMITH, AR 72901
Preparer
Marc Lux CPA
Phone
4796490888
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Artist fees 30,283 0 0 designer fees 12,213 0 0 event 8,650 0 0 hair and makeup 14,214 0 0 photography 4,601 0 0 production services 12,756 0 0 sewn trades contractor 20,698 0 0 speakers 34,522 0 0 video 37,279 0 0 professional fees 4,459 0 0 other 6,822 0 0 total 186,497 0 0

Form 990, Part XI, Line 9

Prior year book to audit differences -21,599

Financial Statement Notes

Schedule D, Page 3, Part X

Generally accepted accounting principles require tax effects from an uncertain tax position to be recognized in the financial statements only if the position is more likely than not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. If an uncertain tax position meets the more-likely-than-not threshold, the largest amount of tax benefit that is greater than 50% likely to be recognized upon ultimate settlement with the taxing authority is recorded. The organization's primary tax positions relate to its status as a not-for-profit entity exempt from income taxes and classification of activities related to its exempt purpose. The organization has analyzed its tax positions taken for filings with the internal revenue service. It believes that its filing positions will be sustained upon examination and does not anticipate any adjustments that would result in a material adverse effect on its financial condition, results of operations, or cash flows.

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IRS990/ProgramServiceRevenueGrp/Desc1REPAIR AND ALTERATION
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IRS990/RelatedOrganizationCtrlEntInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/CurrentTaxYearMinus1YearAmt07935
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt013891
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0GENERALLY ACCEPTED ACCOUNTING PRINCIPLES REQUIRE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. IF AN UNCERTAIN TAX POSITION MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD, THE LARGEST AMOUNT OF TAX BENEFIT THAT IS GREATER THAN 50% LIKELY TO BE RECOGNIZED UPON ULTIMATE SETTLEMENT WITH THE TAXING AUTHORITY IS RECORDED. THE ORGANIZATION'S PRIMARY TAX POSITIONS RELATE TO ITS STATUS AS A NOT-FOR-PROFIT ENTITY EXEMPT FROM INCOME TAXES AND CLASSIFICATION OF ACTIVITIES RELATED TO ITS EXEMPT PURPOSE. THE ORGANIZATION HAS ANALYZED ITS TAX POSITIONS TAKEN FOR FILINGS WITH THE INTERNAL REVENUE SERVICE. IT BELIEVES THAT ITS FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON ITS FINANCIAL CONDITION, RESULTS OF OPERATIONS, OR CASH FLOWS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0FILM PREMIER EV
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0SPRING RUNWAY E
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt010237
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt017973
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt010237
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS EMAILED TO THE APPROPRIATE BOARD MEMBERS FOR REVIEW PRIOR TO E-FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ARTIST FEES 30,283 0 0 DESIGNER FEES 12,213 0 0 EVENT 8,650 0 0 HAIR AND MAKEUP 14,214 0 0 PHOTOGRAPHY 4,601 0 0 PRODUCTION SERVICES 12,756 0 0 SEWN TRADES CONTRACTOR 20,698 0 0 SPEAKERS 34,522 0 0 VIDEO 37,279 0 0 PROFESSIONAL FEES 4,459 0 0 OTHER 6,822 0 0 TOTAL 186,497 0 0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PRIOR YEAR BOOK TO AUDIT DIFFERENCES -21,599
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART XI, LINE 9
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IRS990/StatesWhereCopyOfReturnIsFldCd0AR
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0265983
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IRS990/TotalEmployeeCnt015
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0145551
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0683104
IRS990/TotalFunctionalExpensesGrp/TotalAmt0923600
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt05501
IRS990/TotalLiabilitiesEOYAmt0252808
IRS990/TotalLiabilitiesGrp/BOYAmt05501

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