Asian Festival Corporation

Analysis

Asian Festival Corporation is a registered charity in United States, based in Columbus, OH. It received its IRS tax-exemption ruling in October 2004, 22 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Asian Festival Corporation reported income of $362k and spending of $360k, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $431k to $362k (-16%), an average of -4.3% a year. The sharpest change came in the year to December 2023, when income rose by 79%. Over the whole period it spent 72% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Asian Festival Corporation sits at the 81st percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 65th percentile within OH. Charities of a similar size with the same main cause include Greensboro Swimming Assn ($362k), Playgrounds for Palestine Inc ($362k) and Los Altos Youth Baseball & Softball of Long Beach Incorporated ($362k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% of the total. At year end it held assets of $1.0m against liabilities of $272, net assets of $1.0m. It reported 1 employees.