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      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART II, LINE 10</FormAndLineReferenceDesc>
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      <LeaseholdImprovementsGrp>
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        <BookValueAmt>71172</BookValueAmt>
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        <Desc>LAMB CREEK PROPERTY LOAN</Desc>
        <Amt>185684</Amt>
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        <Event1Nm>FALL FESTIVAL</Event1Nm>
        <GrossReceiptsEvent1Amt>31488</GrossReceiptsEvent1Amt>
        <CharitableContriEvent1Amt>1500</CharitableContriEvent1Amt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 2, PART III, LINE 4A</FormAndLineReferenceDesc>
        <ExplanationTxt>ANNUALLY, THE FOUNDATION PRODUCES: THE KERRVILLE FOLK FESTIVAL (KFFF), THE GRASSY HILL NEW FOLK COMPETITION, AND A FALL EVENT CALLED WELCOME HOME FESTIVAL (WHF). THE FOUNDATION ALSO CO-PRODUCES MUSIC CAMP FOR TEENS WITH THE BOYS &amp; GIRLS CLUB OF CENTRAL TEXAS AND A CONCERT SERIES, "MUSIC AT THE MANSION" WITH SCHREINER UNIVERSITY. THE KERRVILLE FOLK FESTIVAL (KFF) IS THE FOUNDATION'S FLAGSHIP EVENT. ESTABLISHED IN 1972, KFF IS THE LONGEST CONTINUOUSLY RUNNING MUSIC FESTIVAL IN THE U.S. DURING THE 18-DAY FESTIVAL THE FOUNDATION HOSTS THE GRASSY HILL NEW FOLK COMPETITION IN WHICH 600 TO 800 SONGWRITERS FROM ACROSS THE COUNTRY SUBMIT TWO SONGS THEY HAVE WRITTEN IN THE PAST YEAR. OF THOSE, 24 ARE SELECTED TO COMPETE AT THE KFF. OF THOSE, 6 FINALISTS ARE SELECTED AS WINNERS. THE FESTIVALS FEATURE BETWEEN 100 AND 200 PERFORMING SONGWRITERS FROM AROUND THE WORLD, A SONGWRITING SCHOOL, AND INSTRUMENT WORKSHOPS. MUSIC CAMP FOR TEENS IS A 5-DAY CAMP FOR YOUTH AGED 13 - 18. FACULTY IS COMPRISED OF SONGWRITERS, MUSICIANS AND POETS THAT FOCUS ON HELPING STUDENTS "FIND THEIR OWN VOICE AND SOUND" WHILE INTEGRATING LESSONS THAT HELP TEENS BUILD SELF-ESTEEM, ENGAGE IN POSITIVE LEISURE TIME ACTIVITIES, AND DEVELOP LEADERSHIP SKILLS FOR 70 TEENS, MANY OF WHOM ARE FROM LOW INCOME AND SINGLE PARENT HOUSEHOLDS. CO-SPONSORED WITH THE BOYS &amp; GIRLS CLUB OF CENTRAL TEXAS (BGCCT), THE FOUNDATION COVERS THE FACULTY AND FACILITY EXPENSES. THE BGCCT COVERS THE FOOD, TRANSPORTATION, AND CAMP COUNSELOR EXPENSES. MUSIC AT THE MANSION IS A YEAR-LONG CONCERT SERIES COMPRISED OF SIX SHOWS EACH YEAR, EACH SHOW FEATURING TWO PERFORMING SONGWRITERS. WHF WAS HELD IN OCTOBER 2019. DUE TO SAFETY CONCERNS AROUND COVID 19 KFFF HOSTED A VIRTUAL EVENT OVER THREE WEEKENDS IN MAY AND JUNE, CANCELED THE MUSIC CAMP FOR TEENS, AND HELD THE GRASSY HILL NEW FOLK COMPETITION VIRTUALLY. PRE-PURCHASES FOR KFF 2020 WERE EITHER REFUNDED OR CONVERTED TO DONATIONS TO KEEP THE OPERATION GOING IN HOPES FOR 2021.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>KERRVILLE FOLK FESTIVAL FOUNDATION IS A MEMBERSHIP DRIVEN ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE MEMBERS ELECT THE BOARD OF DIRECTORS, WHICH IS THE GOVERNING BODY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>CERTAIN DECISIONS, SUCH AS CHANGES IN THE AMOUNT OF MEMBERSHIP DUES, ARE DECIDED BY MEMBERSHIP MAJORITY VOTE.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COPY OF THE 990 IS PROVIDED TO THE EXECUTIVE DIRECTOR, CHAIRMAN AND TREASURER FOR REVIEW PRIOR TO FILING.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>MONITORING AND ENFORCING THE CONFLICT OF INTEREST POLICY IS DONE BY EXCLUDING MEMBERS FROM VOTING ON RELATED MATTERS, DISCLOSING ANY CONFLICT OF INTEREST PRIOR TO DISCUSSIONS, KEEPING RECORD OF ANY MEMBER WITH A CONFLICT OF INTEREST AND STATING THE POLICY FROM TIME TO TIME THAT BOARD MEMBERS ARE OBLIGATED TO DISCLOSE A CONFLICT OF INTEREST ON ANY TOPIC UNDER DISCUSSION.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL MINUTES, DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. ALL BOARD AND COMMITTEE MEETINGS ARE ALSO OPEN TO THE PUBLIC.</ExplanationTxt>
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</Return>