Overview
What is Profest Inc?
Profest Inc is a nonprofit organization primarily engaged in conducting beer and wine sales for fundraising purposes, specifically for the Denton Arts & Jazz Festival. They have a significant capacity to contribute to charitable organizations, having donated varying amounts ranging from $51,000 to $78,000 in the past. However, due to the COVID-19 pandemic, the Denton Arts & Jazz Festival did not take place in 2020, resulting in a reduced donation amount of $76,000. Profest Inc's mission continues to support various charitable causes through their fundraising activities.
Is Profest Inc legitimate?
Profest Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Profest Inc submitted a form 990EZ, 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.
What is the mission statement of Profest Inc?
Profest Inc's primary activity revolves around selling beer and wine, with the aim of raising funds for charitable organizations. The company has the capacity to donate significant amounts from its net profits, varying from $51,000 to $78,000 depending on certain circumstances. Notably, due to the COVID-19 pandemic, the Denton Arts & Jazz Festival did not occur in 2020, leading to a reduced donation amount of $76,000 that year. Despite these fluctuations, Profest Inc remains committed to its philanthropic role, contributing to various charitable organizations.
Who is the CEO of Profest Inc?
Unavailable
What is the revenue of Profest Inc?
Profest Inc's revenue in 2022 was $67,622.
Who are the executives of Profest Inc and what are their salaries?
Here are 2 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990EZ for Profest Inc?
Profest Inc's most recent form 990EZ was submitted in 2022 and can be accessed here.
Mission Statement of Profest Inc
Profest Inc, a nonprofit organization, primarily focuses on raising funds for charitable causes through the sale of beer and wine. Their primary mission is to support various charitable organizations by donating a significant portion of their net proceeds. Over the years, Profest Inc has been able to donate varying amounts, ranging from $51,000 to $78,000, depending on the success of their fundraising efforts. Unfortunately, the Denton Arts & Jazz Festival, for which Profest Inc typically raises funds, did not take place in 2020 due to the impact of COVID-19. Despite this setback, Profest Inc was still able to contribute $76,000 to their chosen charities. The organization's dedication to supporting worthy causes and its significant financial contributions make Profest Inc a valuable asset in the nonprofit sector.
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Impact
August, 2024
Profest Inc's impact can be seen through its successful beer and wine sales fundraising efforts for the Denton Arts & Jazz Festival. Despite challenges like the festival's cancellation in 2020 due to COVID-19, Profest Inc was still able to donate significant amounts to charitable organizations. Over the years, they have donated $38,600, $78,000, $76,000, $74,350, and $51,000 from the net proceeds of their fundraising activities. This demonstrates their commitment to supporting the arts and giving back to the community in Denton, TX.
This information is meant to be a general summary of Profest 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.
- Gross Receipts: $88,121
Assets and Liabilities:
- Total Assets: $5,070
- Total Liabilities: $0
- Net Assets: $5,070
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Organization Details
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