2023-11-15T18:35:06-08:00 2022-12-31 680260103 REGALIA & ASSOCIATES CPAS 103 TOWN COUNTRY DR STE K DANVILLE CA 94526 990 2022-01-01 770387306 Carmel Bach Festival Foundation Inc CARM 8316241521 PO Box 575 Carmel CA 93921 Steve Friedlander Executive Director 8316241521 2023-11-15 true Steve Friedlander 999009999 true Douglas W Regalia P00186389 9253140390 2 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z Steve Friedlander PO Box 575 Carmel CA 93921 222692 false X www.bachfestival.org X 1961 CA The purpose of the Foundation is to develop, hold, manage, and distribute endowment funds for the Carmel Bach Festival, Inc. Additionally, the Foundation receives restricted contributions on behalf of the Festival. 10 10 0 10 0 0 0 315067 222692 0 315067 222692 0 0 0 0 0 51819 457258 51819 457258 263248 -234566 8243393 6689334 248984 328839 7994409 6360495 Investment earnings and contributions released from restrictions are transferred to the Carmel Bach Festival in accordance with all legal and accounting stipulations. false false 424386 program expenditures represent funds DISBURSED TO THE CARMEL BACH FESTIVAL FOR THE PURPOSE OF SUPPLEMENTING THE OPERATING ACTIVITIES OF THE FESTIVAL and to reimburse the Festival for certain operating expenses. 424386 true false false false false false false false false true false true false false true true false 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 true false false false true 0 0 true 0 false false false false false false false 0 false false false false false false false X 10 10 false false true false false false false true true false false true true true true true true true true false CA X X Steve Friedlander Exec Dir 8316241521 PO Box 575 Carmel CA 93921 X David Nee President 1.00 0.00 X X 0 0 0 Matt Little Vice President 1.00 0.00 X X 0 0 0 Cyril Yansouni Secretary 1.00 0.00 X X 0 0 0 Patricia Eastman Treasurer 1.00 0.00 X X 0 0 0 Susan DuCoeur Director 1.00 0.00 X 0 0 0 Jack Eugster Director 1.00 0.00 X 0 0 0 Nigel Lovett Director 1.00 0.00 X 0 0 0 Dave Maddox Director 1.00 0.00 X 0 0 0 William Sharpe Director 1.00 0.00 X 0 0 0 John Young Director 1.00 0.00 X 0 0 0 Steve Friedlander Exec. Director 1.00 0.00 X 0 0 0 0 false false false 0 0 0 222692 222692 0 0 0 0 0 0 0 0 222692 222692 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 27402 27402 0 0 0 0 0 0 0 0 0 0 424386 424386 0 0 Overhead/Management 5470 5470 0 457258 424386 32872 0 0 476569 174651 0 0 0 0 0 0 0 0 0 7766824 6514683 0 0 0 8243393 6689334 248984 328839 248984 328839 X -608522 -688378 8602931 7048873 7994409 6360495 8243393 6689334 -234566 -1399348 X false true X true false X X 1 Carmel Bach Festival 941434628 10 false 0 0 1 0 true false false false false false false false false false false false false false false true false Part I: Additional Information The Carmel Bach Foundation was established to support the Carmel Bach Festival [a 501(c)(3) public charity] by providing ongoing funding through earnings from an investment portfolio created through permanently restricted contributions from Foundation and Festival supporters. 8211516 -1144779 350000 27402 6689335 7347660 915675 24182 27637 8211516 6541044 3101 831897 3893 24489 7347660 5522790 5154 958233 72034 17167 6541044 3589856 2318809 -263398 87581 34896 5522790 0.86000 0.14000 false false false 6514683 Interfund liability 328839 328839 X Part V, Line 4: Intended uses of the endowment fund. All of the endowment funds classified as permanently restricted net assets, represent donor contributions that are subject to restrictions of gift instruments requiring that the principal balances be maintained in perpetuity. By law, the Foundation is permitted to transfer all interest and realized/unrealized gains to unrestricted net assets. During the year ended December 31, 2022, the Foundation utilized investment earnings generated by assets classified as permanently restricted and transferred an approved draw to the Carmel Bach Festival (a related organization). Part X : FIN48 Footnote Income TaxesFinancial statement presentation follows the recommendations of ASC 740, Income Taxes. Under ASC 740, The Foundation is required to report information regarding its exposure to various tax positions taken by The Foundation and requires a two-step process that separates recognition from measurement. The first step is determining whether a tax position has met the recognition threshold; the second step is measuring a tax position that meets the recognition threshold. Management believes that The Foundation has adequately evaluated its current tax positions and has concluded that as of December 31, 2021 The Foundation does not have any uncertain tax positions for which a reserve or an accrual for a tax liability would be necessary.The Foundation has received notification from the Internal Revenue Service and the State of California that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and Section 23701d of the California Revenue and Taxation Code. The exemptions are subject to periodic review by the federal and state taxing authorities and management is confident that The Foundation continues to satisfy all federal and state statutes in order to qualify for continued tax exemption status. The Foundation could potentially receive unrelated business income in the future (such as program advertising or sub-lease rental income) requiring The Foundation to file separate tax returns under federal and state statutes. If such conditions exist, The Foundation will calculate and accrue the applicable taxes. Form 990, Part VI, Section A, Line 4 Amendments to the Carmel Bach Festival Foundation bylaws were adopted by the Board of Directors in January 2021. The two amendments modified (a) the methods for communicating actions and (b) the rules regarding membership of the Foundation's Board. Form 990, Part VI, Section B, Line 11b Form 990 is prepared by an outside tax professional. The form is then reviewed by the organization's management. After a full review, the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service. Form 990, Part VI, Section B, Line 12c Members of the Board of Directors review all potential conflicts of interest periodically. Top management and all Board members are required to disclose potential conflicts and any related party affiliations. The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures. Form 990, Part VI, Section B, Line 15a The Foundation has no employees. Form 990, Part VI, Section B, Line 15b The Foundation has no employees. Form 990, Part VI, Section C, Line 19 All of the organization's governing documents, financial statements, and other legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public. Tax returns are posted annually to our website and to www.guidestar.org (where they are available for viewing as electronic copies) and are also available by request from the organization's office. Carmel Bach Festival Inc PO Box 575 Carmel CA 93921 941434628 Festival [supported org] CA 501c3 Section 509(a)(2) Carmel Bach Festival Inc false false false false true false false false false false false false false false true true false true false false Carmel Bach Festival Inc d 328839 Actual Cost Carmel Bach Festival Inc q 424386 Actual Cost