Overview
What is Suffolk Festivals Inc?
Suffolk Festivals Inc is a nonprofit organization based in Suffolk, Virginia. With a small team of just two employees, this organization plays a significant role in celebrating the city's agricultural heritage and enthusiasm for peanuts. Each year, approximately 300 volunteers come together to organize the Suffolk Peanut Fest, a four-day event attracting up to 200,000 visitors. This festive occasion offers an array of family-friendly activities, including concerts, amusement rides, contests, and educational exhibits. Beyond entertainment, Suffolk Festivals Inc strives to promote civic betterment, general welfare, and commercial and economic interests within the community. The organization aims to foster goodwill and expand relationships in the trade area, while providing programs of common interest for the people of Suffolk.
Official website here: www.suffolkfest.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 82% (Three-Star out of Four Stars)
Suffolk Festivals Inc has received an overall rating of 82% from Charity Navigator, indicating a solid level of accountability and financial health. The rating is solely based on the Accountability & Finance score, reflecting the organization’s commitment to transparency and sound financial practices. The organization achieved full marks for having a majority of independent board members and for its financial statements being reviewed or compiled.
The nonprofit demonstrates strong financial management, with a program expense ratio of 72.34%, which suggests a significant portion of its funds is directed towards its mission-related activities. Additionally, it has no liabilities, indicating a stable financial position. However, some policies, such as the conflict of interest policy, whistleblower policy, and document retention policy, are noted as missing, which could suggest areas for improvement in governance practices.
Overall, while Suffolk Festivals Inc shows commendable financial integrity and programmatic focus, addressing the noted policy gaps could further enhance its organizational strength and stakeholder trust.
This AI summary has been generated from information found on Charity Navigator.
Is Suffolk Festivals Inc legitimate?
Suffolk Festivals Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Suffolk Festivals 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $66,799
For more financial information, click here
Official website here: www.suffolkfest.org
What is the mission statement of Suffolk Festivals Inc?
Suffolk Festivals Inc's mission is centered around improving the community's civic welfare and enhancing its overall quality of life. They aim to exploit the community's resources and opportunities, providing recreation and entertainment for all its inhabitants. The organization also works towards advancing commercial, economic, social, cultural, and athletic interests within the community. Suffolk Festivals Inc strives to foster goodwill and friendliness among its people and those from other areas, aiming to expand commercial, economic, and social relationships. Lastly, they organize events and attractions that cater to the community's interests and attract visitors, offering programs of common interest to the community members.
Official website here: www.suffolkfest.org
Who is the CEO of Suffolk Festivals Inc?
William D Wyatt Sr is the President of Suffolk Festivals Inc.
Official website here: www.suffolkfest.org
What is the revenue of Suffolk Festivals Inc?
Suffolk Festivals Inc's revenue in 2022 was $544,982.
Official website here: www.suffolkfest.org
Who are the executives of Suffolk Festivals Inc and what are their salaries?
The average compensation at Suffolk Festivals Inc during 2022 was $33,400. There are 2 employees at Suffolk Festivals Inc.
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Official website here: www.suffolkfest.org
Where can I find the form 990 for Suffolk Festivals Inc?
Suffolk Festivals Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.suffolkfest.org
Learn more at the official website: www.suffolkfest.org
Mission Statement of Suffolk Festivals Inc
Suffolk Festivals Inc, a nonprofit organization, is committed to enhancing the well-being of its community by promoting civic betterment and general welfare. The organization seeks to leverage the community's natural resources, opportunities, trade, commerce, and educational life to offer recreation, entertainment, and improve the quality of life for its people. Suffolk Festivals Inc also strives to advance commercial, economic, social, cultural, and athletic interests within the community, fostering a spirit of goodwill and friendship among its residents and those in other parts of the state and nation. The organization aims to expand commercial, economic, and social relationships within its general trade area by providing programs of common interest for the community's benefit. Furthermore, Suffolk Festivals Inc endeavors to promote, produce, and stage events and attractions that appeal to the community and attract guests and visitors, thereby enriching the community's cultural landscape.
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Impact
July, 2024
Suffolk Festivals Inc, through its flagship event Suffolk Peanut Fest, has a significant impact on the community and beyond. Each year, the festival attracts as many as 200,000 visitors over the four days dedicated to celebrating the city's agriculture heritage and devotion to peanuts. The event offers a wide range of activities, including concerts, amusement rides, contests, and competitions, providing entertainment for people of all ages.
Furthermore, the festival serves as a platform to promote the city's commercial, economic, social, and cultural interests. By showcasing the natural resources and opportunities of the community, Suffolk Festivals Inc helps enhance the quality of life for its residents and visitors. The event also fosters a spirit of goodwill and friendliness among attendees, creating lasting memories and traditions for families.
Overall, Suffolk Festivals Inc's impact extends beyond just organizing events; it plays a vital role in promoting community engagement, economic development, and cultural enrichment in Suffolk, Virginia, and the surrounding areas.
This information is meant to be a general summary of Suffolk Festivals 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: $171
- Program Service Revenue: $418,183
- Gross Receipts: $544,982
Assets and Liabilities:
- Total Assets: $258,351
- Total Liabilities: $0
- Net Assets: $258,351
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Mud Drag
Suffolk Peanut Festival
Revenue
$418,183
TGIF
Organization Details
Phone
(757) 539-6751Principal Officer
William D Wyatt Sr
Main Address
P O BOX 1852, SUFFOLK, VA, 23439
Website
www.suffolkfest.orgNTEE Category
Code: N52 - Recreation
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