Overview
What is Fort Smith Music And Arts Festival Inc?
Fort Smith Music and Arts Festival Inc is a dedicated nonprofit organization situated in Fort Smith, Arkansas. Their primary goal is to enrich the community's quality of life and promote cultural understanding through regional and national music and art events. The organization accomplishes this by producing an annual music and arts festival, which serves as a community benefit and provides support to approved 501C3 charities in the area. Their mission is to offer a diverse cultural and musical experience, aiming to improve the local community's quality of life and expand cultural awareness among its residents. A portion of the festival's proceeds is allocated to various selected 501C3 charities that contribute positively to the area.
Official website here: www.peacemakerfest.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating with an overall score of 64%)
Fort Smith Music And Arts Festival Inc has received a Two-Star rating from Charity Navigator, indicating that the organization is in need of improvement in its accountability and finance practices. While it excels in having a fully independent board, with all members being independent and a complete board size, it struggles in crucial areas such as conflict of interest and whistleblower policies, both of which are missing. These deficiencies in governance may impact stakeholders' trust and the organization's transparency.
The nonprofit demonstrates a strong program expense ratio of 63.17%, which suggests a significant portion of its expenses is directed toward its mission-related activities. Additionally, it has no material diversion of assets and a favorable liabilities to assets ratio of 0.00%, indicating sound financial management in that aspect. However, the absence of key documentation and policies raises concerns regarding the overall governance structure and operational integrity.
In conclusion, while Fort Smith Music And Arts Festival Inc shows potential through its financial management and commitment to programmatic spending, the lack of essential policies and documentation limits its ability to fully meet accountability standards. Stakeholders may want to consider these factors and monitor the organization’s progress in addressing these governance issues.
This AI summary has been generated from information found on Charity Navigator.
Is Fort Smith Music And Arts Festival Inc legitimate?
Fort Smith Music And Arts Festival Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fort Smith Music And Arts 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:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.peacemakerfest.com
What is the mission statement of Fort Smith Music And Arts Festival Inc?
The Fort Smith Music and Arts Festival Inc's mission is centered around enriching the community and expanding cultural awareness. They achieve this by producing a music and arts festival and allocating a portion of the proceeds to approved 501C3 charities in the area. The primary objective of the organization is to present a diverse cultural and musical experience, aiming to enhance the quality of life for local residents. The festival serves as a platform to promote understanding and appreciation of various art forms, thereby contributing positively to the community.
Official website here: www.peacemakerfest.com
Who is the CEO of Fort Smith Music And Arts Festival Inc?
Ricky B Beauchamp Jr is the President of Fort Smith Music And Arts Festival Inc.
Official website here: www.peacemakerfest.com
What is the revenue of Fort Smith Music And Arts Festival Inc?
Fort Smith Music And Arts Festival Inc's revenue in 2022 was $866,530.
Official website here: www.peacemakerfest.com
Who are the executives of Fort Smith Music And Arts Festival Inc and what are their salaries?
Here are 9 key members and their salaries:
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Official website here: www.peacemakerfest.com
Where can I find the form 990 for Fort Smith Music And Arts Festival Inc?
Fort Smith Music And Arts Festival Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.peacemakerfest.com
Learn more at the official website: www.peacemakerfest.com
Mission Statement of Fort Smith Music And Arts Festival Inc
Fort Smith Music and Arts Festival Inc, as an organization, is committed to a noble mission. Their primary goal is to present a diverse cultural and musical experience to their region. They are deeply passionate about improving the quality of life and expanding cultural awareness among local residents. To achieve this, they host a music and arts festival. The festival serves not only as an entertaining event but also as a platform to promote cultural understanding.
In line with their mission, Fort Smith Music and Arts Festival Inc allocates discretionary amounts from the festival's proceeds to various selected 501C3 charities. These charities contribute significantly to the area, further enhancing the community's well-being. By doing so, the festival goes beyond mere entertainment, actively engaging in community development and betterment. The festival's income generation and subsequent donation to these charities underline its dedication to uplifting the community and fostering a culturally diverse environment.
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Impact
July, 2024
The Fort Smith Music And Arts Festival Inc has a significant impact on its community by producing a music and arts festival dedicated to improving the quality of life and cultural understanding through regional and national music and art. The organization works towards bringing a diverse cultural and musical experience to the region, with the aim of expanding cultural awareness among local residents. Additionally, the income generated from the festival is donated to selected approved 501c3 charities in the area, further benefiting the community. Through their mission and actions, the Fort Smith Music And Arts Festival Inc plays a vital role in promoting arts, culture, and community well-being in Fort Smith, Arkansas.
This information is meant to be a general summary of Fort Smith Music And Arts 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: $6,753
- Program Service Revenue: $777,277
- Gross Receipts: $866,530
Assets and Liabilities:
- Total Assets: $518,086
- Total Liabilities: $0
- Net Assets: $518,086
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
EVENT PROCEEDS
Revenue
$274,872
TICKET SALES
Revenue
$502,405
Organization Details
Founding Year
2015
Phone
(479) 782-3670Principal Officer
Ricky B Beauchamp Jr
Main Address
PO BOX 1741, FORT SMITH, AR, 72902
Website
www.peacemakerfest.comNTEE Category
Code: A90 - Arts
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