HomeMy WebLinkAbout2018The Sebastian River fro
nt Fine Arcs &Music Festival
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Compiled Financial
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SePtelber 30 20 18
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1623 US Hwy 1, Suite B-4 Telephone: (772) 388-3301
Sebastian, FL 32958 Fax: (772) 388-0810
ACCOUNTANT'S COMPILATION REPORT
To the Board of Directors,
Sebastian Riverfront Fine Arts & Music Festival, Inc.
1125 US Hwy 1
Sebastian, FL 32978
Management is responsible for the accompanying financial statement of
Sebastian Riverfront Fine Arts & Music Festival, Inc. Inc. (a non-profit
organization), which comprise the statement of assets, liabilities, and equity—
cash basis as of September 30, 2018 and 2017, and the related statement of
operations — cash basis for the twelve months then ended, and for determining
that the cash basis of accounting is an accep(;pble financial reporting framework.
I have performed a compilation engagement in accordance with Statements on
Standards for Accounting and Review Services promulgated by the Accounting
and Review Services Committee of the AICPA. I did not audit or review the
financial statements nor was I required to perform any procedures to verify the
accuracy or completeness of the information provided by management.
Accordingly, I do not express an opinion, a conclusion, nor provide any form of
assurance on these financial statements.
The financial statements are prepared in accordance with the cash basis of
accounting, which is a basis of accounting other than accounting principles
generally accepted in the United States of America.
Management has elected to omit substantially all the disclosures ordinarily
included in financial statements prepared in accordance with the cash basis of
accounting. If the omitted disclosures were included in the financial statements,
they might influence the user's conclusion about the Charity's assets, liabilities,
equity, revenues, and expenses. Accordingly, the financial statements are not
designed for those who are not informed about such matters.
December 28, 2018
Sebastian Riverfront Fine Arts & Music Festival, Inc.
Statement of Assets, Liabilities and Equity - Cash Basis
As of September 30, 2018
ASSETS
Current Assets
Checking/Savings
Oculina Bank
RBC Bank 7948
Total CheckinglSavings
Total Current Assets
Fixed Assets
Accumulated depreciation
Furniture and Equipment
Total Fixed Assets
TOTALASSETS
LIABILITIES & EQUITY
Equity
Opening Bal Equity
Unrestricted Net Assets
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
Sep 30, 18
47,639.99
0.00
47,639.99
47,639.99
(1,165.00)
1,369.83
204.83
47,844.82
12,834.00
35,796.34
(785.52)
A7 AAA R7
47,844.82
See accountanfs compilation report.
Sep 30, 17
47,806.51
500.00
48,306.51
48,306.51
(1,046.00)
1,369.83
323.83
48,630.34
12,834.00
32,705.48
3,090.86
AA R qn qd
48,630.34
Sebastian Riverfront Fine Arts & Music Festival, Inc.
Statement of Operations - Cash Basis
October 1, 2017 through September 30, 2018
Ordinary Income/Expense
Income
Direct Public Support
Sponsorship
Corporate Contributions
Direct Public Support - Other
Total Direct Public Support
Rentals
Artists' Booth Rentals
Food Booth Rentals
Administrative Fee
Total Rentals
T-shirts/Posters
Total Income
Expense
Depreciation expense
Website
Executive Director Compensation
Festival Site Operating Expense
Artist Breakfast
Awards/Judging
Entertainment
Equipment Rental
On Site Supplies
Parking Monitors
Total Festival Site Operating Expense
Operating Expenses
Advertising
Bank Charges
Dues
Postage and Delivery
Printing and Copying
Supplies
Total Operating Expenses
Oct'17-Sep 18 Oct'16-Sep 17
250.00 750.00
0.00 1,250.00
405.00 0.00
655.00 2,000.00
15,125.00
15,875,00
2,400.00
2,400.00
2,010.00
2,325.00
19,535.00
20,600.00
377.07
(219.38)
20,567.07
22,380.62
119.00
119.00
288.75
785.00
2,010.00
2,340.00
90.00
0.00
1,060.00
1,050.00
5,600.00
5,725.00
1,584.32
1,584.32
75.00
366.79
1,250.00
500.00
9,659.32 9,226.11
3,980.00
2,980.00
0.00
116.50
245.00
340.00
0.00
116.80
169.67
286.25
417.16
21.96
4,811.83 3,861.51
Page 1
See accountant's compilation report.
Sebastian Riverfront Fine Arts & Music Festival, Inc.
Statement of Operations - Cash Basis
October 1, 2017 through September 30, 2018
Other Types of Expenses
Charitable Contribution
Facebook
Goody Bags for Artists
License & Permits
Insurance
Other Costs
Total Other Types of Expenses
Professional Fees
Accounting Fees
Total Professional Fees
State of Florida Fees
Total Expense
Net Ordinary Income
Other Income/Expense
Other Expense
Cash Transfer to New Bank Acct
Total Other Expense
Net Other Income
Net Income
Oct'17-Sep 18 Oct'l6-Sep 17
500.00
0.00
0.00
40.88
538.80
523.62
30.00
30.00
1,974.83
1,151.39
890.06
691.00
3,933.69
2,436.89
450.00
385.00
450.00
385.00
80.00
136.25
21,352.59
19,289.76
(785.52)
3,090.86
0.00
0.00
0.00
0.00
0.00
0.00
(785.52)
3,090.86
Page 2
See accountant's compilation report.
Form 990-N Electronic Notice (e -Postcard) ¢¢¢ OMB No. 1545-2085
Department of the Treasury for Tax -Exempt Organization not Required to File Form 990 or 99 + 2018
Internal Revenue Service
pen to Public Inspection
A For the 2018 Calendar year, or tax year beginning 2018-10.01 and ending 2019-09-30 *�
B Check If available C Name of Organization: SEB IA RIVERFRONT FINE &� D Employee Identification
E] Terminated for Business ARTS 8 MUSIC FESTIV C
rmx, Number
0 Gross receipts are normally $50,000 or less —
1125 UB HIGHWAY 1,
SEBASTIAN. FL. L(s
E Website: F Name of Pr)r,4 pby0Pocar: ROBSgX-f SON
1125 US h)CeHWAY 1.
SEBFS`TIAN'FL. US. 32968
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