Civic Intelligence

Suffolk Festivals Inc.

990 • Fiscal year 2016 • EIN 54-1338401

Jan 01, 2016 to Dec 31, 2016 • Filed on Jun 29, 2017

P O Box 1852Suffolk, VA 23439

(757) 539-6751

Siviq Scores

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

Liabilities / Assets

88th percentile

0.45x

Higher debt load relative to assets than 88% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

82nd percentile

0.11x

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

54th percentile

4.8%

Higher net margin than 54% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

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

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

74th percentile

23%

Faster asset growth than 74% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

-30%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Up

$84,314

Up $16,005 (+23%) from 2015

Net Assets

Up

$46,422

Up $16,658 (+56%) from 2015

Liabilities

Down

$37,892

Down $653 (-1.7%) from 2015

Revenue

Down

$344,038

Down $146,528 (-30%) from 2015

Expenses

Down

$327,380

Down $173,343 (-35%) from 2015

Net Income

Up

$16,658

Up $26,815 (+264%) from 2015

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2010: $222,656Liabilities 2010: $6,638Net Assets 2010: $216,0182010Assets 2011: $204,528Liabilities 2011: $0Net Assets 2011: $204,5282011Assets 2012: $177,187Liabilities 2012: $0Net Assets 2012: $177,1872012Assets 2013: $65,707Liabilities 2013: $19,600Net Assets 2013: $46,1072013Assets 2014: $61,133Liabilities 2014: $21,212Net Assets 2014: $39,9212014Assets 2015: $68,309Liabilities 2015: $38,545Net Assets 2015: $29,7642015Assets 2016: $84,314Liabilities 2016: $37,892Net Assets 2016: $46,4222016Assets 2017: $64,436Liabilities 2017: $17,127Net Assets 2017: $47,3092017Assets 2018: $93,884Liabilities 2018: $0Net Assets 2018: $93,8842018Assets 2019: $117,193Liabilities 2019: $0Net Assets 2019: $117,1932019Assets 2020: $112,805Net Assets 2020: $112,8052020Assets 2021: $130,675Liabilities 2021: $0Net Assets 2021: $130,6752021Assets 2022: $258,351Liabilities 2022: $0Net Assets 2022: $258,3512022Assets 2023: $328,236Liabilities 2023: $0Net Assets 2023: $328,2362023Assets 2024: $448,402Liabilities 2024: $0Net Assets 2024: $448,4022024

Highlighted filing

2016

Assets$84,314
Liabilities$37,892
Net Assets$46,422

Operations Trend

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

$800K$600K$400K$200K$0-$200KExpenses 2010: $571,4652010Expenses 2011: $618,4922011Expenses 2012: $566,0122012Revenue 2013: $292,420Expenses 2013: $423,500Net Income 2013: -$131,0802013Revenue 2014: $538,379Expenses 2014: $544,565Net Income 2014: -$6,1862014Revenue 2015: $490,566Expenses 2015: $500,723Net Income 2015: -$10,1572015Revenue 2016: $344,038Expenses 2016: $327,380Net Income 2016: $16,6582016Revenue 2017: $471,588Expenses 2017: $470,701Net Income 2017: $8872017Revenue 2018: $485,163Expenses 2018: $438,588Net Income 2018: $46,5752018Revenue 2019: $418,790Expenses 2019: $395,481Net Income 2019: $23,3092019Revenue 2020: $43,479Expenses 2020: $47,867Net Income 2020: -$4,3882020Revenue 2021: $367,146Expenses 2021: $349,276Net Income 2021: $17,8702021Revenue 2022: $544,982Expenses 2022: $417,306Net Income 2022: $127,6762022Revenue 2023: $556,385Expenses 2023: $486,500Net Income 2023: $69,8852023Revenue 2024: $621,113Expenses 2024: $500,947Net Income 2024: $120,1662024

Highlighted filing

2016

Revenue$344,038
Expenses$327,380
Net Income$16,658
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Jun 29, 2017
Return Version
2016v3.0
Gross Receipts
$344,038
Mission and Program Overview

Mission

To advance and promote the civic betterment and general welfare of the City of Suffolk and exploit the natural resources and opportunities of the community, its trade and commerce, and its educational life, by providing recreation and entertainment for all and by enhancing the quality of life of its people; To advance the commercial, economic, social, cultural and athletic interests within the community; To create a spirit of goodwill and friendliness among the people of this community and those living elsewhere in the state and nation, and to expand commercial, economic and social relationships in the general trade area of the community; To provide programs of common interest for the people of the community; To promote, produce and stage such events and attractions as shall appeal to the community and shall attract guests and visitors thereto.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$67,557$84,314▲ $16,757
Land, Buildings, and Equipment, Net$752$0▼ $752
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$68,309$84,314▲ $16,005
Other Assets Total-$0-
Liabilities
Mortgage Notes Payable Secured by Investment Property$38,545$37,892▼ $653
Total Liabilities$38,545$37,892▼ $653
Net Assets / Fund Balance
Unrestricted Net Assets$29,764$46,422▲ $16,658
Total Net Assets Fund Balance$29,764$46,422▲ $16,658
Total Liabilities and Net Assets / Fund Balance$68,309$84,314▲ $16,005

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements-$255,391$255,391
Equipment-$54,889$54,889
Other Land Buildings-$27,849$27,849
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$138,347
Program Service Revenue
$205,669
Investment Income
$22
Other Revenue
$0
All Other Contributions
$138,347
Change in Net Assets
$16,658
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$256,578
Salaries, Compensation, and Employee Benefits$70,802
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$65,771-$65,771
All Other Expenses$165$8,791-$8,956
Other Expenses$8,500$7,846-$7,846
Insurance-$6,602-$6,602
Payroll Taxes-$5,031-$5,031
Interest-$2,230-$2,230
Office Expenses-$1,874-$1,874
Depreciation Depletion-$751-$751
Fees for Services Legal-$25-$25
Total Functional Expenses$228,459$98,921$0$327,380
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
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, Part VI, Line 11B: Form 990 Review Process

No review was or will be conducted.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Suffolk Festivals Inc
EIN
54-1338401
Phone
7575396751
Address
P O BOX 1852, SUFFOLK, VA 23439

Signing Officer

Name
Priscilla Taylor
Title
Treasurer
Signed
2017-06-29
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Va
Voting Board Members
16
Independent Board Members
16
Employees
2

Preparer

Firm
Boyce Spady & Moore Plc
Address
1013 W Washington Street, Suffolk, VA 23434
Preparer
Robert M Moore Jr
Phone
7575392953
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IRS990/Desc0Each Year as many as 300 volunteers work together tirelessly to present the citizens of Suffolk, Hampton Roads and beyond and event that honors the City's agriculture heritage and devotion to peanuts, our favorite legumes. Known for its fun family activities, Suffolk Peanut Fest offers concerts, amusement rides, contests and competitions. In addition, hundreds of exhibits are on display that are interesting and in many cases educational.Now in its 40th year, the Suffolk Peanut Fest attracts as many as 200,000 visitors over the four days dedicated to this huge event. With something for every age, the Suffolk Peanut Fest is a place filled with family traditions and a place where memories are made.
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IRS990/IRPDocumentCnt05
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IRS990/LandBldgEquipBasisNetGrp/BOYAmt0752
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt0338129
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0false
IRS990/MinutesOfGoverningBodyInd0false
IRS990/MissionDesc0To advance and promote the civic betterment and general welfare of the City of Suffolk and exploit the natural resources and opportunities of the community, its trade and commerce, and its educational life, by providing recreation and entertainment for all and by enhancing the quality of life of its people; To advance the commercial, economic, social, cultural and athletic interests within the community; To create a spirit of goodwill and friendliness among the people of this community and those living elsewhere in the state and nation, and to expand commercial, economic and social relationships in the general trade area of the community; To provide programs of common interest for the people of the community; To promote, produce and stage such events and attractions as shall appeal to the community and shall attract guests and visitors thereto.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/MortgNotesPyblScrdInvstPropGrp/BOYAmt038545
IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt037892
IRS990/NetAssetsOrFundBalancesBOYAmt029764
IRS990/NetAssetsOrFundBalancesEOYAmt046422
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt00
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt08500
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt01874
IRS990/OfficeExpensesGrp/TotalAmt01874
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0Suffolk Peanut Fest Expenses
IRS990/OtherExpensesGrp/Desc1Mud Drag
IRS990/OtherExpensesGrp/Desc2Inkind Expense -Equipment Use
IRS990/OtherExpensesGrp/Desc3Utilities
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt07846
IRS990/OtherExpensesGrp/ProgramServicesAmt0188787
IRS990/OtherExpensesGrp/ProgramServicesAmt131007
IRS990/OtherExpensesGrp/ProgramServicesAmt28500
IRS990/OtherExpensesGrp/TotalAmt0188787
IRS990/OtherExpensesGrp/TotalAmt131007
IRS990/OtherExpensesGrp/TotalAmt28500
IRS990/OtherExpensesGrp/TotalAmt37846
IRS990/OtherRevenueMiscGrp/Desc0Miscellaneous Income
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt065771
IRS990/OtherSalariesAndWagesGrp/TotalAmt065771
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05031
IRS990/PayrollTaxesGrp/TotalAmt05031
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0Mud Drag
IRS990/ProgramServiceRevenueGrp/Desc1Suffolk Peanut Festival
IRS990/ProgramServiceRevenueGrp/Desc2TGIF
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt049374
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1155377
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2918
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt049374
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1155377
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2918
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0128936
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt022
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0417832
IRS990/PYProgramServiceRevenueAmt0361608
IRS990/PYRevenuesLessExpensesAmt0-10157
IRS990/PYSalariesCompEmpBnftPaidAmt082891
IRS990/PYTotalExpensesAmt0500723
IRS990/PYTotalRevenueAmt0490566
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt016658
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0138347
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0128936
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0143078
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0116745
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0117619
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0644725
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt022
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt022
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt023
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt088
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0219
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0374
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0205669
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0361608
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0395278
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0175367
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0420337
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01558259
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt022
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt022
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt023
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt088
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0219
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0374
IRS990ScheduleA/InvestmentIncomeCYPct00.00020
IRS990ScheduleA/InvestmentIncomePYPct00.00030
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0220
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0496
IRS990ScheduleA/OtherIncome509Grp/TotalAmt0716
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99950
IRS990ScheduleA/PublicSupportPY509Pct00.99940
IRS990ScheduleA/PublicSupportTotal509Amt02202984
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0344016
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0490544

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.48$0.00$4.48$6.21$5.01$1.20
2023Detailed filing. Detailed filing data is available for this year.$3.28$0.00$3.28$5.56$4.87$0.70
2022Detailed filing. Detailed filing data is available for this year.$2.58$0.00$2.58$5.45$4.17$1.28
2021Detailed filing. Detailed filing data is available for this year.$1.31$0.00$1.31$3.67$3.49$0.18
2020Detailed filing. Detailed filing data is available for this year.$1.13$1.13$0.43$0.48$0.04
2019Detailed filing. Detailed filing data is available for this year.$1.17$0.00$1.17$4.19$3.95$0.23
2018Detailed filing. Detailed filing data is available for this year.$0.94$0.00$0.94$4.85$4.39$0.47
2017Detailed filing. Detailed filing data is available for this year.$0.64$0.17$0.47$4.72$4.71$0.01
2016Detailed filing. Detailed filing data is available for this year.$0.84$0.38$0.46$3.44$3.27$0.17
2015Detailed filing. Detailed filing data is available for this year.$0.68$0.39$0.30$4.91$5.01$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.61$0.21$0.40$5.38$5.45$0.06
2013Detailed filing. Detailed filing data is available for this year.$0.66$0.20$0.46$2.92$4.24$1.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.77$0.00$1.77$5.66
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.05$0.00$2.05$6.18
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.23$0.07$2.16$5.71