Bowdoin International Music Festival

Analysis

Bowdoin International Music Festival is a registered charity in United States, based in Brunswick, ME. It received its IRS tax-exemption ruling in December 1997, 29 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Bowdoin International Music Festival reported income of $3.1m and spending of $2.7m, spending 86% of its income. Across the 5 years on record, from October 2019 to October 2023, income grew from $2.4m to $3.1m (+32%), an average of +7.3% a year. The sharpest change came in the year to October 2021, when income rose by 166%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bowdoin International Music Festival sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 88th percentile within ME. Charities of a similar size with the same main cause include Associates in Research and Education for Development Inc ($3.1m), Westmoreland Museum of Art ($3.1m) and Catchlight ($3.1m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 23% and program service revenue 60% of the total. Compensation of current officers, directors and key employees was $268k (10.0% of expenses). Other salaries and wages came to $787k. At year end it held assets of $5.5m against liabilities of $317k, net assets of $5.2m. It reported 22 employees.