Marblehead Festival of Arts Inc

Analysis

Marblehead Festival of Arts Inc is a registered charity in United States, based in Marblehead, MA. It received its IRS tax-exemption ruling in April 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 September 2021, Marblehead Festival of Arts Inc reported income of $89k and spending of $74k, spending 82% of its income. Across the 3 years on record, from September 2019 to September 2021, income fell from $131k to $89k (-32%), an average of -17% a year. The sharpest change came in the year to September 2021, when income rose by 711%. Over the whole period it spent 111% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Marblehead Festival of Arts Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 42nd percentile within MA. Charities of a similar size with the same main cause include Waverly Oktoberfest ($89k), Friends of Historic Jekyll Island Inc ($89k) and Mallarme Youth Chamber Orchestra ($89k).

On its Form 990 for the period ending September 2021, revenue came from contributions and grants 44% and program service revenue 53% of the total. At year end it held assets of $265k against liabilities of $0, net assets of $265k.