Waco Cultural Arts Fest

Analysis

Waco Cultural Arts Fest is a registered charity in United States, based in Waco, TX. It received its IRS tax-exemption ruling in July 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 December 2023, Waco Cultural Arts Fest reported income of $187k and spending of $220k, spending 118% of what it took in. Across the 3 years on record, from December 2019 to December 2023, income fell from $1.6m to $187k (-88%), an average of -66% a year. The sharpest change came in the year to December 2022, when income dropped by 91%. Over the whole period it spent 46% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Waco Cultural Arts Fest sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 52nd percentile, and in the 56th percentile within TX. Charities of a similar size with the same main cause include New Hampshire Telephone Museum ($187k), Smithfield Little Theatre Inc ($187k) and Manna & Salwa ($187k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 97% and program service revenue 4.1% of the total. At year end it held assets of $250k against liabilities of $40k, net assets of $211k.