Memphis Food & Wine Festival

Nonprofit profile at a glance

EIN
475456623
IRS 990-EZ coverage
2020–2024
Forms available
Form 990 2022, Form 990-EZ 2024
Location
Memphis, TN, USA
Phone
9014826085
Rating confidence
Limited
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$-3,455
Expenses
$11,402
Assets
$89,016
Liabilities
$31,225

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • DAVID BENSON (PRESIDENT)

People named in this filing

  • JOSE GUTIERREZ (DIRECTOR)
  • WALLY JOE (DIRECTOR)
  • ALBERT LAROCCA (CHAIRMAN/TREASURER/DIRECTO)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The memphis food and wine festival ("the festival") was created in 2015 to showcase culinary excellence of local, acclaimed regional, national and international chefs, vintners, and certified sommeliers in order to benefit the memphis community. The proceeds from each festival will be used to benefit a local charity.

What it reported doing in 2024

The festival is used as a tool to raise funds for a charity located in the memphis/shelby county, Tennessee community that is selected by the board of directors each year which represents the organization's only program.from time to time the formal festival is not held for various reasons such as availability of local, regional and world renowned chefs, securing an appropriate venue or special logistics required for the event. In 2023, a formal event was not held; therefore, the revenue from the event, contributions, expenses and the local charity grant are significantly lower than a year in which the event is held.

Operating model

Revenue model
No positive adjusted resources. The filing reports no positive adjusted operating resources.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 82
  • Sustainability: 36
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: 0%; rating input score 0

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -430%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 7.81; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.35; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: -45.6% per year; rating input score 0; 9th percentile among comparable filings
  • Revenue growth: -33.2% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -11.5% per year; rating input score 0; 16th percentile among comparable filings

Details

  • Where the money goes: 0% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.