Overview
What is 500 Festival Inc?
500 Festival Inc, headquartered in Indianapolis, Indiana, is a nonprofit organization dedicated to fostering civic and community pride. They achieve this by sponsoring and presenting various events in conjunction with the annual Indianapolis 500 race. Notable events include the 500 Festival Parade, attracting approximately 300,000 spectators, a black-tie ball, and the 500 Festival Mini Marathon, a 13.1-mile footrace with around 35,000 participants. Their mission is to produce life-enriching events and programs, celebrating the spirit and legacy of the Indianapolis 500, while positively impacting the city and state of Indiana. With a team of 22 individuals, they contribute to the community by organizing events that promote unity and celebration.
Official website here: www.500festival.com
Is 500 Festival Inc legitimate?
500 Festival Inc is a legitimate nonprofit organization registered as a 501(c)(4) entity. 500 Festival Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $563,281
Professional Fundraising Fees: $0
Other Salaries and Wages: $898,975
For more financial information, click here
Official website here: www.500festival.com
What is the mission statement of 500 Festival Inc?
The mission of 500 Festival Inc is centered around producing enriching events and programs that honor the spirit and legacy of the Indianapolis 500. This organization strives to have a positive impact on the city of Indianapolis and the state of Indiana as a whole. The 500 Festival Inc achieves this by sponsoring and presenting events in connection with the annual Indianapolis 500 race, such as the 500 Festival Parade, a Black Tie Ball, and the 500 Festival Mini Marathon, attracting large crowds of spectators and participants. By doing so, the 500 Festival Inc fosters civic and community pride in Indianapolis.
Official website here: www.500festival.com
Who is the CEO of 500 Festival Inc?
Robert Bryant is the Director of 500 Festival Inc. The CEO's salary of 500 Festival Inc is $370,192 and their total compensation is $411,494.
Official website here: www.500festival.com
What is the revenue of 500 Festival Inc?
500 Festival Inc's revenue in 2022 was $5,772,745.
Official website here: www.500festival.com
Who are the executives of 500 Festival Inc and what are their salaries?
The average compensation at 500 Festival Inc during 2022 was $66,466. There are 22 employees and 2800 volunteers at 500 Festival Inc.
Here are 35 key members and their salaries (500 Festival Inc's CEO's salary is $370,192 and their total compensation is $411,494):
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Official website here: www.500festival.com
Where can I find the form 990 for 500 Festival Inc?
500 Festival Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.500festival.com
Learn more at the official website: www.500festival.com
Mission Statement of 500 Festival Inc
The 500 Festival Inc is committed to producing life-enhancing events and programs that celebrate the spirit and legacy of the Indianapolis 500, aiming to foster a positive impact on the city of Indianapolis and the state of Indiana. Their mission is multifaceted, encompassing various events and programs that promote civic and community pride in Indianapolis.
One of the key initiatives by 500 Festival Inc is sponsoring and presenting events in connection with the annual Indianapolis 500 race. This includes the 500 Festival Parade, an annual spectacle that attracts approximately 300,000 viewers, as well as the Black Tie Ball and the 500 Festival Mini Marathon. The Mini Marathon is a 13.1-mile footrace over the streets of Indianapolis, which draws around 35,000 participants each year.
Through these events, 500 Festival Inc seeks to celebrate the rich history of the Indianapolis 500 while simultaneously uplifting the city and its community. By engaging in such activities, the organization aims to contribute positively to the spirit and legacy of Indianapolis and Indiana.
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Impact
October, 2024
500 Festival Inc. plays a significant role in enhancing community pride and engagement in Indianapolis, particularly through its connection to the prestigious Indianapolis 500 race. By organizing a variety of high-profile events, the organization brings together residents and visitors, fostering unity and celebration throughout the city.
Among its hallmark events is the 500 Festival Parade, which attracts approximately 300,000 spectators each year, showcasing the vibrancy and spirit of the community. This event, along with the glamorous black-tie ball, strengthens civic pride and provides a platform for local businesses and organizations to participate in the festivities.
Another major initiative is the 500 Festival Mini Marathon, a 13.1-mile race that engages around 35,000 participants. This event promotes health and wellness, encourages community involvement, and highlights the scenic routes of Indianapolis, further cementing the city’s reputation as a destination for recreation and sport.
Through these events and programs, 500 Festival Inc. not only celebrates the legacy of the Indianapolis 500 but also fosters a positive impact on the social, cultural, and economic landscape of both Indianapolis and the broader state of Indiana.
This information is meant to be a general summary of 500 Festival Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $40,475
- Program Service Revenue: $4,393,639
- Gross Receipts: $5,874,631
Assets and Liabilities:
- Total Assets: $6,763,861
- Total Liabilities: $637,579
- Net Assets: $6,126,282
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
500 FESTIVAL EVENTS AN
Revenue
$2,647,254
SPONSORSHIPS
Revenue
$1,693,385
PUBLICITY AND PROMOTIO
Revenue
$53,000
Organization Details
Founding Year
1956
Phone
(317) 927-3378Principal Officer
Robert Bryant
Main Address
21 VIRGINIA AVENUE 500, INDIANAPOLIS, IN, 46204
Website
www.500festival.comNTEE Category
Code: N52 - Recreation
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