The Giving Partner

Last Updated: 1/29/2018 2:17:26 PM

Avenida de Colores Inc d/b/a Chalk Festival

200 Base Avenue

Venice FL 34285

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Summary
Background & Needs
Programs
Management & Planning
Governance
Financials

PHOTO: Collaboration - volunteers working with local, national and international artists

Mission

To enhance community by inspiring collaborative support from volunteers, artists, visitors and donors so that the world’s best pavement artists can perform alongside anyone who wants to participate in the pavement arts or any other art discipline.

Leadership

CEO/Executive Director Denise C Kowal

Board Chair Ms. Denise Caryl Kowal

Board Chair Affiliation Historic Herald Square

General Info

Organization DBA

DBA
Sarasota Chalk Festival
Chalk Festival
Avenida de Colores, Inc.
Venice Chalk Festival
The Chalk Festival

Supported Organization Avenida de Colores Inc

Tax Exempt Status Public Supported Charity

Incorporation Year 2010

State Charitable Solicitations Permit Yes Apr 2018

State Registration Yes Nov 2017

Financial Summary

IRS Letter of Determination

Name
Pender 501(c)(3) Approval Letter	View

Impact Statement

Top five accomplishments:

1. We (100% volunteer team) completed our 10th season with 33 Captains managing over 450 volunteers and 250 artists as the only international cultural arts festival in Sarasota County that provides for all ages and skill levels to participate as an artist for free alongside the largest gathering of world's most famous pavement artists to ever exist.

2. We secured a Guinness World Record for the Largest Anamorphic Pavement Painting in 2014 and in 2015 for the Largest Anamorphic Pavement Painting of a Figure. We inspired 58 national and international professional pavement artists to donate two weeks to the Sarasota County community. Local artists, students, volunteers, and homeless residents helped complete the paintings.

3. In 2017 we hosted over 250 artists, 45 students and thousands of families to participate. We provide inspiration, art supplies, instruction, mentorship as well travel and lodging for out-of-town artists.

4. In 2017 we created the first ever Pavement Art Museum in showcasing our outstanding accomplishments and records. In addition, we created the first fully curated pavement art exhibition with a published Raison d'etre.

5. We remain trailblazers for the pavement arts:

Attracted 95% of the most renown pavement artists from all over the world, the only event in the world to accomplish this yearly
Display the largest number of 3D installations to have ever existed at any location at one time
Debuted the most innovations in the art form and each year advance the art form in unprecedented ways

Top five goals:

1. Celebrate our 11th season with the first multi-dimensional pavement painting that has been recently patented and ready for debut.

2. To restore and change our 2014 Guinness World Record for the Largest Anamorphic Pavement Painting. An undertaking that will require artists to be in town an additional two weeks prior to the festival.

3. To partner with Sarasota High School to start a student pavement art event on their campus for 2018.

4. Continue to educate the public on the ephemeral fine art forms and the importance of patrons being able to see this incredible Museum in Motion.

Needs Statement

Our top 5 most pressing needs:

Professional artist expenses to cover travel, lodging, food, supplies, averages $2500-$5000 per artist
Sponsorship of 10th Anniversary Museum $50,000
Sponsorship of our Venice facilities - one year (office and warehouse rent) $30,000
Event location rental $7,500 airport fairgrounds

Actions in process to meet financial resource needs:

Changing from a free event to a admission event
Adjusting needs based on fundraising accomplishments and review of 2015 financials to assess what "worked" and what didn't work

Actions in process to meet organizational resource needs:

Transition from an entrepreneurial model to a more standard non-profit model that enables sustainability and repeatability
Implementation of Customer Relationship Management (CRM) as centralized support for all operations
Succession Planning
Documentation of standard operating procedures (SOPs)
Job descriptions and vetting of volunteer manager roles

Background Statement

Our Founder, Denise Kowal, created the Festival as President of her Property Owners Association while tasked with long-term visioning for her area. She received training in both the Smart Code and Asset Based Community Development and utilized her knowledge to come up with a cultural community event that would attract tourism and increase revenues for the area businesses in a culturally rich way.

In 2007 Kowal created the first Chalk Festival that successfully attracted 5,000 visitors to Burns Square. Organizing the Festival was logistically difficult and expensive so that Kowal ceased planning year two.

After repeated requests by merchants, Kowal planned the 2nd Festival 1 1/2 years later. It grew into a national event attracting 30,000 visitors. Again organizing the Festival was logistically difficult and expensive. In addition the property owners felt it was growing beyond their mission so Kowal ceased planning of year three.

After repeated requests by merchants, Kowal planned the 3rd Festival 1 1/2 years later, founded a 501c3 and renamed it Sarasota Chalk Festival. It became the first international street painting Festival in the USA and hosted the largest number of 3D pavement art. We attracted 80,000 visitors and the SCVB announced an economic impact of $3,000,000.

In 2011, it became one of the most important cultural events and contemporary street painting venue in the world, attracting the 95% of the renowned artists in the field. We managed over 500 artists, including the innovator of 3D pavement art Kurt Wenner. The first AR street painting and opera set was created with a Sarasota Opera partnership. We attracted 200,000 visitors and the Children's area grew to 5000 participants.

The 2012 Kurt Wenner created the Circus Parade and Nik Wallenda performed on the sway poles to celebrate the Circus theme. Partnerships with Ringling Bros., Sarasota Circus, Sailor Circus and Fuzion Dance enhanced the theme.

In 2013 we honored veterans, inspired patriotism and embraced freedom with the Legacy of Valor theme. A 1/10th replica of the Statue of Liberty & 'Thoughtful Reflection' honored the Sarasota National Cemetery. Dinner for 500 veterans followed a veteran ceremony with dignitaries. The Festival doubled in size.

In 2014 we successfully moved the Festival to Venice and spanning three locations implementing a pilot parking program. With over 100 participants we secured a Guinness World Record in 10 days for the Largest Anamorphic Pavement Art.

In 2015 we celebrated the theme "Eat, Drink and Be Merry." We welcomed over 250 artists to perform. We created again a large group project, painting the Largest Anamorphic Figure Pavement Painting in the world.

In 2016 we themed the Chalk Festival "Love & Peace." We performed entirely at the Venice Airport Fairgrounds with over 350 artists participating.

We continue to remain 100% volunteer and remain the only international festival in the world that does so while hosting the most renown artists in an art discipline that contributes their artist fees as in kind-support.

Areas Served

Area
FL- Sarasota

Areas Served Comments

The Festival primarily serves Sarasota County with hundreds of outreach programs throughout the year. We host outreach programs in Manatee County too and mentor communities around the world that are interested in starting pavement art festivals.

The Chalk Festival is a local community event that brings together a global community of artists once a year on the Island of Venice, Florida 34285 in three locations:

Venice Airport Fairgrounds
Miami Avenue West, Downtown Venice
Venice Art Center

Service Categories

Primary Org Type Arts,Culture & Humanities

Secondary Org Type Community Improvement, Capacity Building

Tertiary Org Type Public & Societal Benefit

Statement from the Board Chair/Board President

My parents are artists and I grew up poor and homeless but rich with fond memories of my childhood. While we had little food and bathed more often than not in lakes and rivers we had unbridled opportunity to create art and consistent exposure to culture. I cannot imagine life without art because it was the arts that made me equal.

Today I believe everyone should have the unbridled opportunity to create and experience art and cultural, which is one of the many founding principles of the Chalk Festival. Therefore, we raise funds so that anyone of any skill level and any age from any background or belief can participate for free. We encourage diversity.

Since diversity is also a founding principle we support artists from all over the world to participate giving everyone a culturally rich experience. Therefore, we raise funds so an artist from Milwaukee can paint alongside an artist from Russia who may work with an artist from Japan who shares his supplies with an artist from Venice. We are international.

In fact, we are the first international street painting festival in the USA and the only one that hosts 95% of the world's most renowned artists in the pavement arts. Therefore, we raise funds to support the tradition we have created by bringing artists together from all over the world, once a year, to support community.

It is the love of community that the Festival was founded initially. The Festival is so inclusive and exciting it attracts 200,000 visitors and $10,000,000 into our local economy. It has accomplished this as a grass-roots organization that inspires passionate volunteers.

We have accomplished all we do as a 100% volunteer organization because of the strong principles Kowal earned from John McKnight during her Asset Based Community Development training. Therefore, we raise funds so that community residents can share their talents and support a sense of place and belonging, including businesses.

We are fortunate to receive roughly $2,000,000 of in-kind support because businesses, artists and volunteers take ownership in the Festival's success. Therefore, we only raise funds for those necessities that require cash.

In summary, I feel fortunate to be able to work with so many dedicated and passionate people who give unselfishly to make our lives and world more inclusive and meaningful.

Statement from the CEO/Executive Director

The Chalk Festival plays an essential role in exploring the emotional dimensions of experience, in shaping the way people talk about critical issues and in formulating visions of the future, both for the artist and audience.

Programs

Children's Chalk Block
Student Chalk Event
Street Painting
Seniors (citizen) Going Vertical

Children's Chalk Block

Description For two days an entire city block is dedicated to the young and young at heart to chalk impromptu mini-masterpieces for free. Over 5000 children participated in 2011, a growth of 150% from the previous year. Everything is provided including the more expensive pastel chalks the professionals use because we have found the children appreciate the bright colors more than the pale shades of children's chalks. Professional artist, Lori Loveberry-George chairs this event for her third season and enrolls dozens of high-school students to volunteer during the weekend.

Budget $10,000

Category Arts, Culture & Humanities, General/Other Cultural Festivals

Program Linked to Organizational Strategy Yes

Population Served Infants to Preschool (under age 5) Families Children Only (5 - 14 years)

Short Term Success By the end of the 2015 season over 25,000 children will be exposed to the rich history and cultural traditions of street painting and the ephemeral performing arts.

Long Term Success We have children that have participated in the Children's Chalk Block year after year and many have gone on to participate in the Student Chalk Event. Nurturing children will help grow the festival with local participation, provide skills that are tangible, encourage sense of self and confidence by providing community and family activities.

Program Success Monitoring We will monitor the number of children and families that will participate in the 2012 festival and see if we are successful in growing participation again in year 5.

Program Success Examples

Children and their parents provide unsolicited testimonials of their experience after every festival. The following is one that we received from a father who brought his son to the festival:

“I brought my son to the chalk festival hoping to inspire him to draw and paint more as he is always drawing cartoon characters in his room. We spent about an hour watching the fantastic artists at work but what my son was really excited about was hearing that there was a children’s area. I want to tell you that my son learned from watching the artists work, he learned by seeing their techniques and all on his own he drew the most amazing piece of artwork I have ever seen him produce.”

“I have to say that in all of my 44 years that Saturday was one of the top 5 best days of my entire life. Seeing my son so focused on drawing without a care in the world. I want to thank you, the artists, and organizers of this event for such an eye opening experience. I made a video of my son drawing that day and would like to share it with you. I hope the link works!! By the way, he’s nine! Maybe some day he will have his own street to paint on!”

Phil Jones

An video of the experience of a father and son can be seen here: http://www.chalkfestival.com/?p=4764

Student Chalk Event

Description

All students who apply to participate as a chalk artist are accepted and provided everything for free, which includes a class that is taught by the professional artists on techniques, etiquette and materials. They are provided space, supplies, materials, food, water, exposure in our collector edition publication, tickets to VIP events and a tremendous amount of support by all artists and volunteers. Students chalk for two days to create a chalk drawing that range in size from 3' x 5' to 12' x 12'. Some students chalk alone while others use teams of students to complete a chalk drawing.

Budget below is per student:

Budget $500

Category Arts, Culture & Humanities, General/Other Performing Arts

Program Linked to Organizational Strategy Yes

Population Served Adolescents Only (13-19 years) Minorities General/Unspecified

Short Term Success To give students a sense of place in our community and appreciation for the cultural performing arts by sparking and encouraging their curiosity and creative energy through participation.

Long Term Success Our students will help the long-term success of the festival and provide students will a skill that can provide a living, no matter what country or place they are in the world.

Program Success Monitoring We monitor the number of students that we reach each year and the areas of our community that they are coming from. We now have a student chair that is a senior at Sarasota High School and an past professor from RISD who are actively meeting with individual schools to increase our reach. We monitor how many students participate each year and their progress.

Program Success Examples

Our students provide us with numerous testimonials that we feel support our success. The following is from one of our student who participated last year:

Dear Denise, Thank you so much for everything that you have done for me. You helped me way more than you think. Before the Sarasota Chalk Festival, I never thought I was good enough for anything or anyone. You helped me to bring out a whole other side of myself that no one has ever seen including myself. Although I was a little intimidated when i was the only student there with Kurt, it was a great opportunity to learn from him. I can’t thank you enough and I definitely would love to do it again next year. Please include me! I am inspired so much that I want to become a professional artist. I’ve always wanted to go to Ringling, but that dream has been shattered through my teenage years . You helped me put my dream back together. Now, I want to go to Ringling more than ever and, for the first time in a very long time, I think I can make it. I would love it if you would consider writing Ringling a letter of recommendation for me when the time comes. Speak soon! Sincerely, Tricia Armstrong

Street Painting

Description

Over a period of three days street painters that are regional, national and international travel to Burns Square to create master works of art on the pavement surface before visitors who become a part of the creative process. Artists create 2D works that range in size from 6' x 8' up to 12' x 24' using pastel chalks that are provided by the festival. The organization pays for all the artists travel, lodging, food, supplies, events, amenities, PR and awards ceremony.

Cost below is average per artist:

Budget $3,000

Category Arts, Culture & Humanities, General/Other Performing Arts

Program Linked to Organizational Strategy Yes

Population Served General/Unspecified Families Poor,Economically Disadvantaged,Indigent

Short Term Success Participating artists will learn from each other and the visitors.

Long Term Success We will have many artists participate from around the world for free and everyone will be able to attend for free.

Program Success Monitoring The increase in attendance each year shows us the need for this cultural event and the importance of keeping the event free for all.

Program Success Examples We are receiving emails from students and artists from all over the United States and the world who want to participate.

Seniors (citizen) Going Vertical

Description Debuting 2015 the Chalk Festival will take Seniors Citizens vertical with a street art activity for anyone over 60 who would like to create art. Four 8’ x 20’ walls will be constructed specifically for Senior Citizens to create graffiti using spray cans, pastel paints and chalk art on an oversized chalk board, painting with brushes and rollers or stencils in this freestyle street art activity.

Budget $37,000

Category Arts, Culture & Humanities, General/Other Cultural Festivals

Program Linked to Organizational Strategy Yes

Population Served Elderly and/or Disabled Aging, Elderly, Senior Citizens

Short Term Success We have recruited 3 seniors to lead the program and they are supported by 35 senior art instructors and senior volunteers and by the end will enrich the lives of hundreds of Senior Citizens.

Long Term Success Our program will provide the opportunity for Senior Citizens to participate in the arts, which is known to increase the cognitive abilities and life span of Senior Citizens.

Program Success Monitoring We have received substantial feedback from area independent living and retirement community residents and program directors.

Program Success Examples Our Senior Citizen volunteers meet weekly to make sure the program is successful.

Comments

Program Comments by Organization Our Festival stretched its artistic offerings each year and this year we added a program for Senior Citizens. Our children’s area is for the young and young at heart so that it encourages family participation. We have dozens of other who perform with us enhanced the experience with events such as poetry and storytelling. We have a concert stage with music from 10 am till 9 am for four days. We always think outside the box in hopes to bring the inquisitive mind within everyone - out to play for the day.

Our challenge each year is having enough funds leading up the Festival. Many of our expenses have to be paid prior to us actually receiving grant funds or revenues from the Festival.

We also have deal with increased attendance and logistics of shuttles for visitors to our various locations. While our strengths are creating an experience that people want to have, we are successful in doing those things necessary so the Festival thrives.

CEO/Executive Director

CEO/Executive Director Denise C Kowal

CEO Term Start 2007

CEO/Executive Director Email n/a

Experience

Denise Kowal is the founder of the Avenida de Colores nonprofit, businesswoman and major stakeholder in downtown Sarasota. She has grown the Chalk Festival, that started as a small community event, into the most important international pavement art festival in the world. The festival consistently hosts the largest gathering of the most important and renown pavement artists in the world each year since 2010. The festival has continued to host, in addition, the largest number of 3D illusion pavement painting in one location than any other place in the world.

To name a few accomplishments, the Chalk Festival is the first festival to showcase this art form and artists entirely, started a new trend in sharing information about the art form and the artists, created the first publication of the artists, first website, first blog, hosted the largest number of world debuts, teaches the 3D pavement geometry, and created the largest anamorphic pavement painting in the world.

Ms. Kowal is the owner of the Historic Herald Square building since 1986 that has 13 residential units and 7 commercial tenants. She is an avid historic preservationist, artist and trained in New Urbanism and the Smart Code.

Former CEOs/Executive Directors

Name	Term

Senior Staff

Name	Title
Mike Pachota	General Logistics
Suzy Pardo	Events Captain

Staff & Volunteer Statistics

Full Time Staff 0

Part Time Staff 0

Staff Retention Rate % N/A

Professional Development No

Contractors 0

Volunteers 600

Management Reports to Board N/A

CEO/Executive Director Formal Evaluation N/A

Senior Management Formal Evaluation N/A

Non-Management Formal Evaluation No

Collaborations

We collaborate yearly with over 500 artists and with dozens of organizations, nonprofits, schools, businesses, clubs, associations, companies and groups to support the yearly theme celebrated during the Sarasota Chalk Festival. In fact, the festival is successful because of our collaborations such those with the Sarasota Opera, Nik Wallenda, and Smithsonian Institute. Other collaborations include that of our visitors who become a part of the performance as the viewer as well as the children and young at heart who can participate just by showing up.

Affiliations

Affiliation	Year
Arts & Cultural Alliance of Sarasota	2015
Venice Area Chamber of Commerce	2015

External Assessments and Accreditations

Assessment/Accreditation	Year

Awards & Recognition

Award/Recognition	Organization	Year
Best Sarasota Festival - Readers Poll	Sarasota Magazine	2011
Best Sarasota Success - Readers Poll	Sarasota Magazine	2011
Best Sarasota Festival - Readers Poll	SRQ Media Group	2012
Runner-up Best Sarasota Citizen Ego Leonard - Reader's Poll	Sarasota Magazine	2012
Runner-up Best Downtown Event - Reader's Poll	SRQ Media Group	2011
Top 10 Oddball-News Stories - Ego Leonard for washing up on Siesta Beach	Time Magazine	2011
	SRQ Media
Best Sarasota Festival - Readers Poll	SRQ Media Group	2011
Best Sarasota Festival - Readers Poll	Sarasota Magazine	2012
Beat of the Best - Best Festival	Sarasota Magazine	2013
Best of SRQ - Best Festival	SRQ Magazine	2013
Beat of the Best - Best Festival	Sarasota Magazine	2014
Best of SRQ - Best Festival	SRQ Magazine	2014
Best of the Best - Best Festival	Sarasota Magazine	2015
SRQ Best - Best Community Blunder for losing Festival	SRQ Magazine	2015
Largest Anamorphic Pavement Art	Guinness Book of World Records	2014
Winner of Women in Business Award	SRQ Media Group	2015
Best of the Best Sarasota Event	Sarasota Magazine	2016
Best of the Best Sarasota Event/Festival	Sarasota Magazine	2017

Risk Management Provisions

Government Licenses

Organization Licensed by the Government No

Plans

Fundraising Plan No

Communication Plan No

Strategic Plan No

Strategic Plan Years

Strategic Plan Adopted 0

Management Succession Plan No

Continuity of Operations Plan No

Policies

Nondiscrimination Policy No

Whistle Blower Policy No

Document Destruction Policy No

Directors and Officers Insurance Policy No

Policies and Procedures No

Comments

Management Comments by Organization We are an entirely volunteer organization that is structured using Asset Based Community Development tools. Thereby giving a bit of ownership to everyone that participates as a volunteer, artist or donor. We believe everyone has talent and skills to share and it is those who live in the community that through volunteering support a strong and sustainable community. Therefore we build our team from the inside out making the core of the organization the community residents that are supported by area businesses, government and outside agencies and companies.

Multi-Media Comments by Organization

The video submitted is after our 4th year looking forward to our 5th year. We are now entering our 9th year and the information contained in the video is still relevant, yet we have moved the Festival from Sarasota to the Island of Venice.

The Festival has thousands of videos created by professionals, students, and visitors that are visible on YouTube and Vimeo. We are fortunate that the 2011 Sarasota Chalk Festival went viral reaching 180 of the 200 countries worldwide, which is a direct benefit of the international status we have gained and continued to gain. We continue this reach.

Many of our artists who are local, national and international and have their own film crews documenting their participation in the festival as well as news crews from their own country. The Guinness World Record for the World's Largest 3D Anamorphic Painting was documented by a film crew from the Netherlands. The documentary was shown at the close of the 2014 Festival and will be shown again to the public during the 2015 Festival.

Board Chair

Board Chair Ms. Denise Caryl Kowal

Company Affiliation Historic Herald Square

Board Term Oct 2010 to Oct 2020

Board Chair Email denise@chalkfestival.com

Board Members

Name	Affiliation
Mr. Douglas Henry	Retired
Ms. Carole Anne Henry	Retired
Ms. Denise Caryl Kowal	Kowality Antique Decorative Arts, Inc.

Constituency Includes Client Representation Yes

Board Ethnicity

African American/Black 0

Asian American/Pacific Islander 0

Caucasian 3

Hispanic/Latino 0

Native American/American Indian 0

Other 0 0

Board Gender

Male 1

Female 2

Unspecified 0

Governance

Board Term Lengths 20

Board Term Limits 99

Board Orientation No

Number of Full Board Meetings Annually 12

Board Meeting Attendance % 100

Board Self-Evaluation Yes

Written Board Selection Criteria No

Board Conflict of Interest Policy Yes

% of Board Making Monetary Contributions 100

% of Board Making In-Kind Contributions 100

Standing Committees


Special Events (Golf Tournament, Walk / Run, Silent Auction, Dinner / Gala)
Volunteer
Student Affairs
Community Outreach / Community Relations
Membership
Administration
Advisory Board / Advisory Council
Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
Program / Program Planning
Volunteer
Youth
Project Oversight
Communications / Promotion / Publicity / Public Relations
Audit, Compliance and Controls
Education

Comments

Governance Comments by Organization

The organization remains under the guidance of our Founder and Board of Directors. Currently there are 55 lead captains, each in charge of managing a specific Festival activity and team of volunteers. We are still in need of 20 captains and more volunteers so we are actively recruiting by hosting weekly volunteer sign-ups.

Fiscal Year Projections

Fiscal Year Start Month Jan

Fiscal Year Start Day 01

Fiscal Year Begins 2017

Fiscal Year End Month Dec

Fiscal Year End Day 31

Fiscal Year Ends 2017

Projected Revenue $2,300,000.00

Projected Expenses $2,300,000.00

Total Projected Revenue includes "in-kind" contributions/ donations Yes

Organization has Endowment No

Capital Campaign

Currently In a Capital Campaign No

Anticipate Campaign within 5 years? Yes

Campaign Purpose

Campaign Goal

Campaign Dates 0 to 0

Amount Raised To Date 0 as of 0

IRS Form 990s


Form 990	2016
990	2015
990 Jan - June	2014
990 Jul - Dec	2014
990	2013
990	2012
990	2011
Pender 10X_001921CLNT_V1	2010

Audit/Financial Documents


2016 Financial Review	2016
Avenida de Colores Balance Sheet and Profit & Loss Statement	2015
Financial Review 2014	2014
Financial Review 2014 6 months	2014
2013 Review	2013
Financial Review	2011

Historical Financial Review

Revenue and Expenses

Fiscal Year	2016	2015	2014
Total Revenue	$370,289	$306,309	$226,096
Total Expenses	$307,577	$293,448	$232,225

Revenue Sources

Fiscal Year	2016	2015	2014
Foundation and Corporation Contributions	$0	$0	$0
Government Contributions	$65,111	$50,985	$49,471
Federal	$0	$0	$0
State	$0	$0	$0
Local	$0	$0	$0
Unspecified	$65,111	$50,985	$49,471
Individual Contributions	$71,240	$255,219	$176,625
Indirect Public Support HelpIndirect public support represents revenue received through solicitation campaigns. This includes funding United Way and other federated fundraising organizations, but does not include donor designated contributions.	$0	$0	$0
Earned Revenue HelpEarned revenue represents income generated in direct exchange for a product or service.Earned income includes income from government contracts.	$233,938	$0	$0
Investment Income, Net of Losses	$0	$0	$0
Membership Dues	$0	$105	$0
Special Events	$0	$0	$0
Revenue In-Kind	$2,085,798	$52,100	$1,251,900
Other	$0	$0	$0

Expense Allocation

Fiscal Year	2016	2015	2014
Program Expense	$291,739	$265,333	$191,587
Administration Expense	$15,838	$28,115	$40,638
Fundraising Expense	$0	$0	$0
Payments to Affiliates	$0	$0	$0
Total Revenue/Total Expenses	1.20	1.04	0.97
Program Expense/Total Expenses	95%	90%	83%
Fundraising Expense/Contributed Revenue	0%	0%	0%

Assets and Liabilities

Fiscal Year	2016	2015	2014
Total Assets	$119,457	$49,396	$8,107
Current Assets	$107,803	$39,742	$1,703
Long-Term Liabilities	$0	$0	$0
Current Liabilities	$49,216	$41,867	$58,934
Total Net Assets	$70,241	$7,529	($50,827)

Top Funding Sources

Fiscal Year	2016	2015	2014
Top Funding Source & Dollar Amount	Program Service Revenue $233,938	Contributions, gifts, grants $255,219	Contributions, gifts, grants $176,625
Second Highest Funding Source & Dollar Amount	Contributions, gifts, grants $71,240	Government Grants - Unspecified $50,985	Govertnment Grants - Unspecified $49,471
Third Highest Funding Source & Dollar Amount	Government Grants - Unspecified $65,111	Membership Dues $105	0 $0

CEO/Executive Director Compensation N/A

Tax Credits No

Solvency

Short Term Solvency

Fiscal Year	2016	2015	2014
Current Ratio: Current Assets/Current Liabilities	2.19	0.95	0.03

Long Term Solvency

Fiscal Year	2016	2015	2014
Long-Term Liabilities/Total Assets	0%	0%	0%

Financials Comments

Financial Comments by Organization For the past two season we have completed our event season in the black with some funds to carry us forward. This is a big change from our first 6 seasons that always ended in the red. We are changing from a free event to a paid event for the 2016 season to help us become more sustainable moving forward. We garner close to 2MM of in-kind support each year that is now being shown on our financial statements and tax returns. We do not have a professional fundraiser or grant writer, nor do we have any paid staff but manage to do a lot, with a little.

Financial Comments by Foundation

Financial figures for 2011 only reflect a 6 month period, as organization is new. Figures taken from Federal tax returns and audited financial reviews. Contributions include corporate and foundation support as they are not separately stated. In 2014 the organization changed its accounting year end from June 30 to December 31 resulting in a short-period Federal tax return covering 7/1/14 - 12/31/14. The value of contributed goods and services is included in income in the financial review.

Nonprofit Avenida de Colores Inc d/b/a Chalk Festival

Sarasota Chalk Festival Logo

Address 200 Base Avenue

Venice, FL 34236

Phone 941 488-8877

Email info@chalkfestival.com

Website https://chalkfestival.org/

THE COMMUNITY FOUNDATION OF SARASOTA COUNTY, INC. IS A REGISTERED 501(C)(3) NON-PROFIT CORPORATION. A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE WITHIN THE STATE (1-800-HELP-FLA) OR FROM THE WEBSITE: WWW.FRESHFROMFLORIDA.COM. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. ONE HUNDRED PERCENT (100%) OF EACH CONTRIBUTION IS RECEIVED BY THE COMMUNITY FOUNDATION OF SARASOTA COUNTY. REGISTRATION #SC-2471.