Fayetteville Chamber Music Festival

“Gross receipts for the calendar year 2013 were thought to be less than $50,000, so Form 990-N was filed originally. However, since gross receipts exceeded $50,000, Form 990-EZ is now being filed as an amended return for the calendar year 2013.”

“Description;Amount^Advertising and Promotion;8519|Depreciation;3138|Dues and Subscriptions;910|Graphic Design;1025|Equipment;748|Insurance;944|Marketing;900|Piano Work;3166|Food and Beverage;5648|Decorations;667|Office Expenses;689|Bank Charges;150|Travel;2504^Total;29008^”

“The beginning asset balance of $35,234 includes a piano, purchased mid-2009 for $40,000, being depreciated on a straight line basis over 15 years at $2,667 per year. The organization purchased concert platforms during 2012 at a cost of $4,808, being depreciated on a straight line basis over 20 years at $240 per year. The Form 990-EZ is currently being amended to account for a computer and printer, purchased during 2013 at a cost of $2,309, that was originally expensed. The computer and printer are now included in assets and are being depreciated on a straight line basis over 5 years at $462 per year, with only one-half annual depreciation of $231 charged during 2013. The ending asset balance of $34,405 results from total assets of $47,117 less accumulated depreciation of $9,574 and current year depreciation expense of $3,138.”

“The Fayetteville Chamber Music Festival held its annual spring event from May 5th through May 18th. During this period, the organization presented a variety of community concerts, including a presentation of the Bach Cello Suites by internationally known cellist, Julie Albers. A series of lectures and school presentations preceded the 2013 May Festival. Artists also participated in live radio programs and several open rehearsals. The Festival musicians traveled from Minnesota, Georgia, Japan, Italy, South Carolina and Houston to participate and rehearsed daily in preparation for the concerts. Several receptions were held following the Festival concerts, allowing the local community time to visit and interact with the Festival musicians. Fundraising events were held throughout the year to provide funding to help defray the expenses.”