Mount Desert Festival of Chamber Music Inc

Analysis

Mount Desert Festival of Chamber Music Inc is a registered charity in United States, based in Mount Desert, ME. It received its IRS tax-exemption ruling in October 1965, 61 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Mount Desert Festival of Chamber Music Inc reported income of $325k and spending of $146k, leaving 55% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $185k to $325k (+76%), an average of +15% a year. The sharpest change came in the year to December 2023, when income rose by 628%. Over the whole period it spent 68% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Mount Desert Festival of Chamber Music Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 58th percentile within ME. Charities of a similar size with the same main cause include David Labkovkski Project ($325k), California State Band Championships ($325k) and Matheson History Museum Inc ($325k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 40% and program service revenue 9.8% of the total. Compensation of current officers, directors and key employees was $13k (9.0% of expenses). Other salaries and wages came to $1,750. At year end it held assets of $1.1m against liabilities of $261, net assets of $1.1m. It reported 2 employees.