Overview
What is Memphis Food & Wine Festival?
The Memphis Food & Wine Festival is an annual event established in 2015, situated in Memphis, Tennessee. Its primary goal is to highlight the culinary talents of local and regional chefs, vintners, and certified sommeliers. This celebration serves as a platform to raise funds for a charity chosen annually by the organization's board of directors, which is the event's only program. Each year, the festival proceeds are donated to this selected charity, contributing to the betterment of the Memphis community.
Official website here: www.memphisfoodwinefestival.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Star rating, 73%)
The Memphis Food & Wine Festival has a score of 73%, indicating a need for improvement, particularly in governance practices. The organization has demonstrated strong accountability and finance metrics, such as a majority of independent board members and a favorable liabilities to assets ratio. However, significant gaps exist in their policy framework, specifically the absence of a conflict of interest policy, whistleblower policy, and document retention practices.
Despite these shortcomings, the festival maintains a robust program expense ratio of 72.19%, suggesting that a substantial portion of its resources is allocated toward its mission. The lack of publicly available governance documents, including board meeting minutes and the tax form on their website, raises concerns about transparency and operational best practices.
Overall, while the Memphis Food & Wine Festival exhibits strong financial management, the absence of essential governance policies limits its accountability and could impact stakeholder trust. Addressing these deficiencies could enhance the organization’s credibility and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Memphis Food & Wine Festival legitimate?
Memphis Food & Wine Festival is a legitimate nonprofit organization registered as a 501(c)(3) entity. Memphis Food & Wine Festival 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.memphisfoodwinefestival.org
What is the mission statement of Memphis Food & Wine Festival?
The Memphis Food & Wine Festival, established in 2015, is primarily designed to showcase the culinary talents of local and regional chefs, vintners, and certified sommeliers. Its primary objective is to benefit the community by donating a portion of its annual proceeds to a deserving charity within the Memphis/Shelby County, Tennessee area. The charity selection is made by the festival's board of directors. Each year, the festival aims to showcase the best in food and wine while contributing to the betterment of the community.
Official website here: www.memphisfoodwinefestival.org
Who is the CEO of Memphis Food & Wine Festival?
Al Larocca is the Chairman/Treasurer/Directo of Memphis Food & Wine Festival.
Official website here: www.memphisfoodwinefestival.org
What is the revenue of Memphis Food & Wine Festival?
Memphis Food & Wine Festival's revenue in 2022 was $70,379.
Official website here: www.memphisfoodwinefestival.org
Who are the executives of Memphis Food & Wine Festival and what are their salaries?
There 25 volunteers at Memphis Food & Wine Festival.
Here are 5 key members and their salaries:
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Official website here: www.memphisfoodwinefestival.org
Where can I find the form 990 for Memphis Food & Wine Festival?
Memphis Food & Wine Festival's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.memphisfoodwinefestival.org
Learn more at the official website: www.memphisfoodwinefestival.org
Mission Statement of Memphis Food & Wine Festival
The Memphis Food & Wine Festival was established in 2015 with a mission to highlight the culinary prowess of local and regional chefs, vintners, and certified sommeliers. This annual event is designed to benefit the wider Memphis community. Each year, proceeds from the festival are donated to a deserving charity within the Memphis/Shelby County, Tennessee community. The selection of the charity recipient is made by the board of directors, emphasizing the festival's commitment to giving back to its local community. By showcasing the talents of its culinary and beverage experts and contributing to worthy causes, the Memphis Food & Wine Festival plays an integral role in enriching the lives of its community members.
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Impact
August, 2024
The Memphis Food & Wine Festival has a significant impact on the local culinary community by showcasing the excellence of local and regional chefs, vintners, and sommeliers. Through this event, attendees are able to experience a wide range of culinary delights while also supporting a local charity that is selected each year by the festival's board of directors. The funds raised during the festival are used to benefit a charity located in the Memphis/Shelby County community, providing much-needed support to various causes and organizations in the area. Overall, the festival serves as an important platform for promoting culinary talent, fostering community engagement, and giving back to the local community in a meaningful way.
This information is meant to be a general summary of Memphis Food & Wine Festival. 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: $1,562
- Gross Receipts: $470,077
Assets and Liabilities:
- Total Assets: $128,796
- Total Liabilities: $54,228
- Net Assets: $74,568
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Organization Details
Founding Year
2015
Phone
(901) 356-3111Principal Officer
Al Larocca
Main Address
5871 POPLAR AVE, MEMPHIS, TN, 381193949
NTEE Category
Code: A20 - Arts
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