Detroit Jazz Festival Foundation

Analysis

Detroit Jazz Festival Foundation is a registered charity in United States, based in Harper Woods, MI. It received its IRS tax-exemption ruling in June 2006, 20 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 October 2023, Detroit Jazz Festival Foundation reported income of $4.0m and spending of $4.5m, spending 112% of what it took in. Across the 5 years on record, from October 2019 to October 2023, income fell from $4.6m to $4.0m (-13%), an average of -3.3% a year. The sharpest change came in the year to October 2020, when income dropped by 21%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Detroit Jazz Festival Foundation sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within MI. Charities of a similar size with the same main cause include Florida Childrens Museum Inc ($4.0m), Monterey Jazz Festival ($4.0m) and Constellation Stage & Screen Inc ($4.0m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 95% and program service revenue 2.7% of the total. At year end it held assets of $371k against liabilities of $0, net assets of $371k.