Overview
What is Tennessee Soybean Festival Inc?
Tennessee Soybean Festival Inc is a nonprofit organization based in Martin, Tennessee, with a single employee. Its primary mission is to organize and manage the Tennessee Soybean Festival, an annual event attended by over 20,000 individuals from Tennessee, Kentucky, and Missouri. The festival offers a variety of free activities, including outdoor concerts, singing competitions, car shows, and carnivals, to celebrate and promote soybean production in the region. The organization's work contributes to the local community by providing an enjoyable event for families and fostering an appreciation for agriculture.
Official website here: www.tnsoybeanfestival.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement, 73%)
The Tennessee Soybean Festival Inc has received a Two-Star rating from Charity Navigator, indicating that while it shows some strengths, there are significant areas for improvement. The organization has a strong commitment to independent governance, with 100% of its board members being independent and maintaining a favorable liabilities to assets ratio of 0.00%. Additionally, the program expense ratio is commendable at 96.31%, suggesting that a high percentage of its funds are directed towards its programs.
However, the nonprofit faces critical deficiencies in its accountability and finance practices. Notably, it has not provided financial statements which heavily impacts its overall score. The absence of essential policies, such as a conflict of interest policy, whistleblower policy, and document retention and destruction policy, raises concerns about governance practices and transparency.
While the festival appears to be effectively fulfilling its mission through program expenditures, the lack of required documentation and policies could potentially hinder its credibility and long-term sustainability. Improving these areas could enhance its organizational reliability and public trust.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Tennessee Soybean Festival Inc?
88% of 112 reviewers on Facebook recommend the Tennessee Soybean Festival Inc. Here's a summary of their reviews: The festival is widely appreciated for its engaging shows and community vibe. Reviewers frequently mention the affordability and quality of the entertainment, highlighting the opportunity to enjoy memorable performances close to home.
Many attendees express enthusiasm for the event, looking forward to returning in the future. The overall atmosphere is described as vibrant and enjoyable, creating a welcoming environment for both locals and visitors. It's evident that the festival successfully resonates with its audience, making it a beloved event in the community.
With positive sentiments surrounding the experiences offered, the festival seems to fulfill its promise of providing excellent entertainment and fostering a sense of community.
This AI summary has been generated from reviews found on Facebook.
Is Tennessee Soybean Festival Inc legitimate?
Tennessee Soybean Festival Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Tennessee Soybean 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $25,859
For more financial information, click here
Official website here: www.tnsoybeanfestival.org
What is the mission statement of Tennessee Soybean Festival Inc?
The Tennessee Soybean Festival Inc's primary role is to organize and execute the Tennessee Soybean Festival. This annual event features a variety of attractions, including free outdoor concerts, singing competitions, car shows, and carnivals. The festival draws a significant crowd, with over 20,000 attendees annually from Tennessee, Kentucky, and Missouri. The organization's mission is centered around providing these enjoyable events to the public, aiming to foster a sense of community and entertainment.
Official website here: www.tnsoybeanfestival.org
Who is the CEO of Tennessee Soybean Festival Inc?
David Belote is the President of Tennessee Soybean Festival Inc.
Official website here: www.tnsoybeanfestival.org
What is the revenue of Tennessee Soybean Festival Inc?
Tennessee Soybean Festival Inc's revenue in 2022 was $501,426.
Official website here: www.tnsoybeanfestival.org
Who are the executives of Tennessee Soybean Festival Inc and what are their salaries?
The average compensation at Tennessee Soybean Festival Inc during 2022 was $25,859. There is 1 employee at Tennessee Soybean Festival Inc.
Here are 6 key members and their salaries:
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Official website here: www.tnsoybeanfestival.org
Where can I find the form 990 for Tennessee Soybean Festival Inc?
Tennessee Soybean Festival Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.tnsoybeanfestival.org
Learn more at the official website: www.tnsoybeanfestival.org
Mission Statement of Tennessee Soybean Festival Inc
Tennessee Soybean Festival Inc is dedicated to planning, organizing, and executing the annual Tennessee Soybean Festival. The primary goal of this organization is to provide an enjoyable and engaging event for the public, attracting over 20,000 attendees from Tennessee, Kentucky, and Missouri. The festival features various activities, including free outdoor concerts, singing competitions, car shows, and carnivals, catering to a wide range of interests. By offering these events for free, Tennessee Soybean Festival Inc aims to bring the community together, promoting entertainment and camaraderie.
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Impact
July, 2024
Tennessee Soybean Festival Inc's impact is significant in the community of Martin, TN, and surrounding areas. By organizing and hosting the Tennessee Soybean Festival, the organization provides a platform for over 20,000 people from Tennessee, Kentucky, and Missouri to come together and enjoy various free events such as outdoor concerts, singing competitions, car shows, and carnivals. This not only boosts local tourism but also fosters a sense of community spirit and engagement among attendees. The festival's inclusive nature and diverse activities make it a valuable recreational and cultural experience for all who participate.
This information is meant to be a general summary of Tennessee Soybean 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.
- Program Service Revenue: $94,744
- Gross Receipts: $501,426
Assets and Liabilities:
- Total Assets: $53,565
- Total Liabilities: $0
- Net Assets: $53,565
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ENTERTAINERS SOUVENIR SALES
Revenue
$65,839
CARNIVAL AND STREET FAIR
Revenue
$14,619
FAITH AND COMMUNITY NIGHT
Revenue
$5,188
MISC EVENTS
Revenue
$4,803
PAGEANT RECEIPTS
Revenue
$3,095
Organization Details
Founding Year
1993
Phone
(731) 587-3126Principal Officer
David Belote
Main Address
PO BOX 290, MARTIN, TN, 38237
Website
www.tnsoybeanfestival.orgNTEE Category
Code: N52 - Recreation
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