2024-10-30T15:33:12-04:00 2024-04-30 263582184 CAIN BOURRET JARRY & CRESSMAN LLC 1175 MAMMOTH ROAD SUITE 2A DRACUT MA 01826 990 2023-05-01 042578293 THE LOWELL FESTIVAL FOUNDATION LOWE 9782751764 PO BOX 217 LOWELL MA 01852 ARTHUR SUTCLIFFE TRUSTEE, CHAIRMAN 9782751764 2024-09-19 true false KRISTIN M CRESSMAN P00446157 9789571421 2024-09-19 2023 2024-10-15 13:58:12Z ARTHUR SUTCLIFFE 8 INDIAN DRIVE CHELMSFORD MA 01824 1824172 false X WWW.LOWELLSUMMERMUSIC.ORG X 1974 MA THE ORGANIZATIONS PRIMARY PURPOSE IS TO ENCOURAGE CHARITABLE, CIVIC AND EDUCATIONAL ACTIVITIES BY BUSINESS AND INDIVIDUALS IN THE CITY OF LOWELL, MASSACHUSETTS THROUGH ENTERTAINMENT AND FESTIVAL ACTIVITIES. 6 6 50 1896 0 586324 516164 941145 1224280 428 2582 1690 81146 1529587 1824172 0 0 237897 234813 0 53498 1315069 1714569 1552966 1949382 -23379 -125210 1164927 801125 547670 238178 617257 562947 THE ORGANIZATIONS PRIMARY PURPOSE IS TO ENCOURAGE CHARITABLE, CIVIC AND EDUCATIONAL ACTIVITIES BY BUSINESS AND INDIVIDUALS IN THE CITY OF LOWELL, MASSACHUSETTS THROUGH ENTERTAINMENT AND FESTIVAL ACTIVITIES. false false 1727746 1224280 THE ORGANIZATION OPERATES AN ANNUAL FOLK FESTIVAL, WITH MUSIC, DANCING AND ENTERTAINMENT IN ORDER TO SUPPORT AND PROMOTE THE ARTS WITHIN THE CITY OF LOWELL, MASSACHUSETTS. THE ORGANIZATION ALSO HAS A SUMMER MUSIC SERIES OF CONCERTS, HEADLINED BY NATIONAL AND GLOBAL ARTISTS WITHIN THE ENTERTAINMENT INDUSTRY, AT AN OUTDOOR LOCAL REFURBISHED PARK, IN ORDER TO PROMOTE THE ARTS WITHIN THE CITY OF LOWELL, MASSACHUSETTS AND THE LOCAL SURROUNDING COMMUNITIES. 1727746 true true false false false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 28 0 true 50 true false false false false false false false false false false false false false false X 6 6 false false false false false false false true true false false false false false false false false false MA X HELENE LOISELLE 9782751764 5 CAROLINA LANE WESTFORD MA 01886 X PAULINE GOLEC TRUSTEE 0.25 X 0 0 0 HELENE LOISELLE TRUSTEE, TRE 0.25 X X 0 0 0 JANIS MALISZEWSKI TRUSTEE, GLO 0.25 X 0 0 0 MIKE ROSENBERG TRUSTEE 0.25 X 0 0 0 JOHN SCANNELL TRUSTEE 0.25 X 0 0 0 ARTHUR SUTCLIFFE TRUSTEE, CHA 0.25 X X 0 0 0 false false false 502664 13500 13500 516164 PROGRAM SERVICE REVENUE 1224280 1224280 1224280 2582 2582 MANAGEMENT FEES 65000 65000 OTHER INCOME 16146 16146 81146 1824172 1305426 2582 215457 138677 59987 16793 19356 12624 5260 1472 18854 9427 9427 65000 32500 32500 21392 21392 354 354 40005 40005 PROGRAM COSTS 1349938 1349938 CONTRACT LABOR 152054 80414 36407 35233 STAGE & SOUND EQUIPMENT 52834 52834 MISCELLANEOUS 7505 7505 6633 3822 2811 1949382 1727746 168138 53498 1138104 780756 23014 8422 3809 11947 1164927 801125 28551 9050 519119 229128 547670 238178 X 617257 492406 70541 617257 562947 1164927 801125 -125210 70900 X false false X 296955 99824 748067 586324 516164 2247334 296955 99824 748067 586324 516164 2247334 2247334 768 2664 345 428 2582 6787 2254121 4201060 0.99700 0.99720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1954622 130450 130450 1824172 1824172 2079832 130450 130450 1949382 1949382 SCHEDULE D, PAGE 3, PART X THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND SECTION 830 CMR 63.38T.1 OF MASSACHUSETTS GENERAL LAWS. SINCE THE ORGANIZATION IS EXEMPT FROM FEDERAL AND STATE INCOME TAX LIABILITY, NO PROVISION IS MADE FOR CURRENT OR DEFERRED INCOME TAX EXPENSES. THE ORGANIZATION IS NOT A PRIVATE FOUNDATION. ONLY UNRELATED BUSINESS INCOME, AS DEFINED BY SECTION 512(A)(1) OF THE CODE, IS SUBJECT TO FEDERAL INCOME TAX. THE ORGANIZATION ACCOUNTS FOR INCOME TAXES IN ACCORDANCE WITH INCOME TAX ACCOUNTING GUIDANCE IN FASB ASC TOPIC 740, INCOME TAXES. MANAGEMENT IS NOT AWARE OF ANY TRANSACTIONS THAT WOULD NEGATIVELY IMPACT THE ORGANIZATION'S TAX-EXEMPT STATUS. THE PREPARATION OF FINANCIAL STATEMENTS IN CONFORMITY WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES IN THE UNITED STATES OF AMERICA REQUIRES THE ORGANIZATION TO REPORT INFORMATION REGARDING ITS EXPOSURE TO VARIOUS TAX POSITIONS TAKEN BY THE ORGANIZATION. THE ORGANIZATION HAS DETERMINED WHETHER ANY TAX POSITIONS HAVE MET THE RECOGNITION THRESHOLD AND HAVE MEASURED THE ORGANIZATION'S EXPOSURE TO THOSE TAX POSITIONS. MANAGEMENT BELIEVES THAT THE ORGANIZATION HAS ADEQUATELY ADDRESSED ALL RELEVANT TAX POSITIONS AND THAT THERE ARE NO UNRECORDED TAX LIABILITIES. ANY INTEREST OR PENALTIES ASSESSED TO THE ORGANIZATION ARE RECORDED IN OPERATING EXPENSES. NO INTEREST OR PENALTIES FROM ANY TAX AUTHORITIES WERE RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE ORGANIZATION'S FEDERAL EXEMPT TAX RETURNS AND STATE OF MASSACHUSETTS REPORTS FOR THE YEARS ENDED APRIL 30, 2021 THROUGH APRIL 30, 2023 (OPEN YEARS) ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE AND MASSACHUSETTS ATTORNEY GENERAL'S OFFICE. FORM 990, PAGE 6, PART VI, LINE 11B COPY OF FORM 990 SENT IS REVIEWED BY THE ACCOUNTING MANAGER AND SENT TO EACH BOARD MEMBER FOR COMMENT AND REVIEW BEFORE FILING. FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. BY EITHER VISITING THE LOCAL OFFICE, OR CALLING TO RECEIVE A COPY BY MAIL.